Adjustments to Letter of Credit Amount Sample Clauses

Adjustments to Letter of Credit Amount. Notwithstanding anything to the contrary set forth in this Article 4, so long as no Default exists by Tenant under the terms of the Lease which is then continuing, the Letter of Credit Amount shall be adjusted as follows: Event/Timing Letter of Credit Amount Tenant engages in an initial public offering for the sale of Tenant’s stock on a public securities exchange (an “IPO”) and Tenant’s market capitalization equals or exceeds $3.5 billion. $1,674,500.00 Fifth (5th) Anniversary of Commencement Date (assuming no IPO has then occurred) $1,674,500.00 Seventh (7th) Anniversary of the Commencement Date (whether or not an IPO has occurred) $0.00
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Adjustments to Letter of Credit Amount 
Sample 1

Related to Adjustments to Letter of Credit Amount

  • Letter of Credit Amounts Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

  • Letter of Credit Fees, Interest Rate The Letter of Credit Fees and the rate of interest for each Loan otherwise applicable pursuant to Section 2.9.2 [Letter of Credit Fees] or Section 4.1 [Interest Rate Options], respectively, shall be increased by 2.0% per annum;

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