Security Deposit

Security Deposit. Shall mean Security Deposit as defined in Paragraph 36.

Security Deposit. With respect to each item of Equipment shall have the meaning assigned to such term in the Equipment Schedule applicable to such item of-Equipment.

Security Deposit. The sum of $4,800.00. The security deposit has been deposited with Landlord by Tenant contemporaneously with the execution hereof

Security Deposit. $100,000.00. Tenant shall increase to $150,000.00 by October 1, 2004 and to $175,000.00 by February 1, 2005

Security Deposit. Shall mean: (1) The slim of $12,939.00 to be paid by Tenant to Landlord within ten (10) days after the execution of this Lease by Landlord and Tenant which shall be added to the $8,816.00 Tenant currently has deposited with Landlord, for a total of $21,755.000; and (2) An irrevocable, automatically renewable letter of credit (the "LETTER OF... CREDIT") to Landlord's benefit, on terms acceptable to Landlord, in the amount of $156,545.00, shall be delivered by Tenant to Landlord on January 30, 1998. The Letter of Credit shall be held by Landlord as additional security for Tenant's obligations under this Lease until March 1, 1999, at which time the amount of the Letter of Credit shall be reduced by onethird (1/3), with additional annual reductions in the same amount each March 1 thereafter. View More

Security Deposit. Shall mean: (1) An irrevocable, annually renewable letter of credit (the "SECURITY LETTER OF CREDIT") to the Landlord's benefit, on terms acceptable to Landlord, in the amount of $342,258.31, shall be delivered by Tenant to Landlord within five (5) days after execution of this Lease by both Landlord and Tenant or on the date Tenant first occupies the Premises, whichever is earlier. The Security Letter of Credit shall... be held by Landlord as security for Tenant's obligations under this Lease. If Tenant does not renew the Security Letter of Credit and deliver to Landlord the original, renewed letter of credit (thereafter defined as the "SECURITY LETTER OF CREDIT") at least thirty (30) days before the end of the annual term of each annual Security Letter of Credit, on that date which is twenty-nine (29) days before the end of that year's Security Letter of Credit, Landlord may cash in that Security Letter of Credit and thereafter hold the cash as a deposit in lieu of the Security Letter of Credit. Such sum shall be held by Landlord, who shall have no obligation to account to Tenant for any interest thereon. In the last ten months of the Lease Term, Tenant may, at its option, redeem from Landlord the Security Letter of Credit by substituting for the Security Letter of Credit a sum of cash equal to the Base -Page 1- EXHIBIT 10.6 Rental due during the last twelve months of the Lease Term. If the Tenant chooses this option, the stated sum of cash shall be deemed to be the "SECURITY DEPOSIT". Each month thereafter, a portion of the Security Deposit shall be applied to the Base Rental due in each consecutive month. It is the parties' intention that at the end of the Lease Term the Security Deposit shall equal the Base Rental due for the last two months of the Lease Term. Landlord shall have no obligation to account to Tenant for interest on the Security Deposit; and (2) An additional, irrevocable, annual renewable Letter of Credit (the "IMPROVEMENT LETTER OF CREDIT") to Landlord's benefit, on terms acceptable to Landlord, in the amount of $381,414.62, shall be delivered by Tenant to Landlord on execution of this Lease. If Tenant does not renew the Improvement Letter of Credit and deliver to Landlord the original, renewed letter of credit (thereafter defined as the "IMPROVEMENT LETTER OF CREDIT") at least thirty (30) days before the end of the annual term of each annual Improvement Letter of Credit, on that date which is twenty-nine (29) days before the end of that year's Improvement Letter of Credit, Landlord may cash in that Improvement Letter of Credit and thereafter hold the cash as a deposit in lieu of the Improvement Letter of Credit. Such sum shall be held by Landlord, who shall have no obligation to account to Tenant for any interest thereon. The Improvement Letter of Credit shall expire on the date on which Tenant's accumulated payments of Basic Rental since the Commencement Date equal the total sum secured by the Improvement Letter of Credit. View More

Security Deposit. Shall mean the sum of $31,561.50. The Security Deposit(2) deposited with Landlord by Tenant(3).

Security Deposit. Shall mean the sum of One Million and no/100 dollars ($1,000,000.00) in the form of a letter of credit or cash. The Security Deposit has been deposited with Landlord by Tenant within 12 Business days of the execution hereof.

Security Deposit. Shall be an amount equal to three (3) times the Initial Monthly Rent.

Security Deposit. $50,000.00 in cash and an Irrevocable Letter of Credit for $400,000. See Paragraph 5.2.