It is understood by the Applicant(s) that the initial sum, given by the Applicant(s) to the Landlord, will be held as a contract deposit, and refundable only if the Landlord does not accept this application (not applicable in NWT). Upon acceptance of this Offer to Lease and execution of the Tenancy Agreement the contract deposit will be deemed applicable to the lease as indicated in the Tenancy Agreement. The contract deposit is not refundable once the Landlord approves this application.