Common use of Amount and Uses Clause in Contracts

Amount and Uses. Within twenty (20) days following the date (the “LOC Outside Delivery Date”) of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the Security Deposit in the form of a Letter of Credit (as hereinafter defined), to be held by Landlord as security for the payment of all Rent payable by Tenant and for the faithful performance by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), provided Tenant shall have made all such payments and performed all such obligations hereunder. Landlord shall not be required to maintain the Security Deposit in a separate account. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s option, appropriate and apply the entire Security Deposit, or so much thereof as Landlord believes may be necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five (5) days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum deposited. Tenant’s failure to restore any such deficiency shall constitute a Default hereunder. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. The amount of the Security Deposit shall be reduced as of the dates set forth in the following table to the corresponding amounts set forth in the following table, except that there shall be no such reduction if, as of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such Default has been cured, or (b) any circumstance which with the giving of notice, the passage of time, or both would constitute a Default by Tenant (provided that Landlord shall have the right to notify Tenant in writing within ten (10) days following the expiration of the applicable month of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit shall not be postponed if either (i) Landlord fails to so notify Tenant within such 10-day period or (ii) Landlord does notify Tenant of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000

Amount and Uses. Within twenty (20) days following the date (the “LOC Outside Delivery Date”) Landlord acknowledges receipt from Tenant of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the Security Deposit in the form of a Letter of Credit (as hereinafter defined)Deposit, to be held by Landlord as security for the payment of all Rent payable by Tenant Xxxxxx and for the faithful performance by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), ) provided Tenant shall have made all such payments and performed all such obligations hereunderthat no default then exists. Landlord shall not be required to maintain the Security Deposit in a separate account. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s Xxxxxxxx's option, appropriate and apply the entire Security Deposit, or so much thereof as Landlord believes may be necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Event of Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five ten (510) business days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum depositeddeposited or, if the amount of the Security Deposit has been increased in connection with an expansion of the Premises or otherwise, then Tenant shall pay to Landlord an amount sufficient to restore the Security Deposit to the amount then required as the Security Deposit hereunder. Tenant’s 's failure to restore any such deficiency shall constitute a An Event of Default hereunder. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. The amount Tenant reserves the right to deliver the Security Deposit in the form of an unconditional, irrevocable letter of credit issued by a financial institution acceptable to Landlord in its sole and absolute discretion (the “Letter of Credit”), in which case the provisions of Section 6.3 hereof will be applicable. Notwithstanding the foregoing, the Security Deposit shall be reduced as to an amount equal to one (1) month of then-escalated Basic Rent after the expiration of the dates set forth in twenty-fourth (24th) month following the following table to the corresponding amounts set forth in the following tableRent Commencement Date, except that there shall be no such reduction if, as if at any time during the term Tenant has been in monetary Event of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such or if on the scheduled date of reduction there exists any Event of Default has been cured, or (b) any circumstance which with the giving of notice, notice or the passage of time, or both time would constitute a an Event of Default by Tenant under the Lease. After the end of the twenty-fourth (provided that Landlord shall have the right to notify Tenant in writing within ten (1024th) days month following the expiration Rent Commencement Date, the required amount of the applicable month Security Deposit at that time shall remain as the Security Deposit for the remainder of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit shall not be postponed if either (i) Landlord fails to so notify Tenant within such 10-day period or (ii) Landlord does notify Tenant of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000hereof.

Amount and Uses. Within twenty Landlord acknowledges receipt from Tenant of Fifty-Two Thousand Eighty-Three and 33/100 Dollars (20$52,083.33) days following the date (the “LOC Outside Delivery Date”) of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the "Security Deposit in the form of a Letter of Credit (as hereinafter definedDeposit"), to be held by Landlord as security for the payment of all Rent payable by Tenant and for the faithful performance by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), provided Tenant shall have made all such payments and performed all such obligations hereunder. Landlord shall not be required to maintain the Security Deposit in a separate account. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s 's option, appropriate and apply the entire Security Deposit, or so much thereof as Landlord reasonably believes may be is necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five (5) days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum deposited. Tenant’s 's failure to restore any such deficiency shall constitute a Default hereunder. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. The amount of the Security Deposit shall be reduced as of the dates set forth in the following table to the corresponding amounts set forth in the following table, except that there shall be no such reduction if, as of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such Default has been cured, or (b) any circumstance which with the giving of notice, the passage of time, or both would constitute a Default by Tenant (provided that Landlord shall have the right to notify Tenant in writing within ten (10) days following the expiration of the applicable month of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit shall not be postponed if either (i) Landlord fails to so notify Tenant within such 10-day period or (ii) Landlord does notify Tenant of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000.

Amount and Uses. Within twenty Landlord acknowledges receipt from Tenant of Nineteen Thousand Seven Hundred Eighty-Two and 45/100 Dollars (20$19,782.45) days following the date (the “LOC Outside Delivery DateSecurity Deposit”) of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the Security Deposit in the form of a Letter of Credit (as hereinafter defined), to be held by Landlord as security for the payment of all Rent payable by Tenant and for the faithful performance by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), ) provided Tenant shall have made all such payments and performed all such obligations hereunder. Landlord shall not be required to maintain the Security Deposit in a separate account. The Security Deposit shall accrue interest at the same rate as interest accrues on the account in which Landlord maintains the Security Deposit and all such interest on the Security Deposit shall be added to the Security Deposit, become a part thereof and be subject to all of the terms and conditions set forth in this Section 35.A. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s option, appropriate and apply the entire Security Deposit, or so much thereof as Landlord believes may be necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five (5) days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum deposited. Tenant’s failure to restore any such deficiency shall constitute a Default hereunder. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. In lieu of the cash Security Deposit hereinabove provided for, Tenant shall have the option to deposit with Landlord a letter of credit (the “Letter of Credit”) in an amount equal to the Security Deposit, which Letter of Credit shall thereupon constitute the Security Deposit. The Letter of Credit shall be maintained throughout the remainder of the Term. Any Letter of Credit delivered to Landlord by Tenant shall be an unconditional, irrevocable letter of credit in a form and from a financial institution located in the Washington, D.C. metropolitan area and acceptable to Landlord in its sole discretion. Said Letter of Credit shall provide that it shall expire on the sixtieth (60th) day following the date of expiration of the Term of this Lease. At Tenant’s option, said Letter of Credit shall have a term equal to the period expiring on the first anniversary of the date of issuance thereof, in which event Tenant covenants that a renewal of said Letter of Credit shall be delivered to Landlord by that date which is thirty (30) days prior to the expiration date thereof, and thereafter a renewal of the Letter of Credit shall be delivered to Landlord by Tenant by that date which is thirty (30) days prior to each succeeding anniversary of the original expiration date of the Letter of Credit. If Tenant fails to so renew and deliver said Letter of Credit to Landlord by the thirtieth (30th) day preceding each said expiration date, such failure shall constitute a Default hereunder (as to which no cure period shall be applicable) and Landlord may draw upon the Letter of Credit then in effect without the necessity of any other monetary or other default hereunder by Tenant, in which event the proceeds thereof shall be held by Landlord. Said Letter of Credit shall provide that Landlord shall be permitted to draw on same following the occurrence of a Default by Tenant under this Lease; provided, however, that in the event that said Letter of Credit would expire during the pendency of any litigation to resolve whether such Default has occurred, Landlord may draw upon said Letter of Credit prior to the expiration thereof. In the event that Landlord draws upon the Letter of Credit after a Default by Tenant as aforesaid, Landlord shall use, apply or retain all or any portion of the proceeds thereof for (i) the payment of any Rent or any other sums as to which Tenant is in default, (ii) the payment of any amount which Landlord may spend or become obligated to spend to repair damage to the Premises or the Building for which repairs Tenant is liable hereunder, or (iii) compensation to Landlord for any losses which Landlord is entitled to recover hereunder by reason of Tenant’s Default, including, but not limited to, any damage or deficiency arising in connection with the reletting of the Premises and all associated reasonable legal fees. In the event that the Letter of Credit is drawn upon by Landlord for failure of Tenant to renew said Letter of Credit as aforesaid, the proceeds thereof shall be held by Landlord in accordance with the provisions respecting the Security Deposit under this Section 35, and, in such event, within sixty (60) days after the expiration of the Term, and provided Tenant has vacated the Premises and is not in default hereunder, Landlord shall return such proceeds to Tenant, less such portion thereof as Landlord may be entitled hereunder to apply to satisfy any Default by Tenant hereunder. In the event that Tenant is in default upon the expiration of the Term and Landlord does not use all of the Security Deposit shall be reduced as of the dates set forth in the following table to the corresponding amounts set forth in the following tablecure such default, except that there shall be no then, after such reduction if, as of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such Default default has been cured, or (b) any circumstance which with the giving of notice, the passage of time, or both would constitute a Default by Tenant (provided that Landlord shall have the right to notify Tenant in writing within ten (10) days following the expiration return any unused balance of the applicable month of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit to Tenant. The use, application or retention of the proceeds of the Letter of Credit, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law, and shall not limit any recovery to which Landlord may otherwise be postponed if either (i) entitled. In the event of the sale or transfer of Landlord’s interest in the Building or the Land, Landlord fails shall transfer the proceeds of the Letter of Credit to so notify the purchaser or transferee, in which event Tenant within such 10-day period shall look only to the purchaser or (ii) transferee for the return of the proceeds of the Letter of Credit, and Landlord does notify shall be released from all liability to Tenant for the return of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000proceeds.

Amount and Uses. Within twenty Landlord acknowledges receipt from Tenant of Thirty-Four Thousand One Hundred Twenty-Eight and 33/100 Dollars (20) days following the date (the “LOC Outside Delivery Date”) of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the $34,128.33)(the "Security Deposit in the form of a Letter of Credit (as hereinafter definedDeposit"), to be held by Landlord as security for the payment of all Rent payable by Tenant and for the faithful performance by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), provided Tenant shall have made all such payments and performed all such obligations hereunder. Landlord shall not be required to maintain the Security Deposit in a separate accountaccount but shall maintain the Security Deposit in an account bearing interest at the rate earned on other similar deposits held by Landlord. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s 's option, appropriate and apply the entire Security Deposit, or so much thereof as Landlord believes may be necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five (5) days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum deposited. Tenant’s 's failure to restore any such deficiency shall constitute a Default hereunder. In the event of bankruptcy or other debtor-debt or creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. In lieu of the cash Security Deposit hereinabove provided for, Tenant shall have the option to deposit with Landlord, not later than October 31,1999 a letter of credit (the "Letter of Credit") in an amount equal to the Security Deposit, which Letter of Credit shall thereupon constitute the Security Deposit. In the event that Tenant does not deposit a Letter of Credit with Landlord on or before October 31, 1999, Tenant shall have no further right to do so. The Letter of Credit shall be maintained throughout the remainder of the Term. Any Letter of Credit delivered to Landlord by Tenant shall be an unconditional, irrevocable letter of credit in a form and from a financial institution located in the Washington, D.C. metropolitan area and acceptable to Landlord in its sole discretion. Said Letter of Credit shall provide that it shall expire on the sixtieth (60th) day following the date of expiration of the Term of this Lease. At Tenant's option, said Letter of Credit shall have a term equal to the period expiring on the first anniversary of the date of issuance thereof, in which event Tenant covenants that a renewal of said Letter of Credit shall be delivered to Landlord by that date which is thirty (30) days prior to the expiration date thereof, and thereafter a renewal of the Letter of Credit shall be delivered to Landlord by Tenant by that date which is thirty (30) days prior to each succeeding anniversary of the original expiration date of the Letter of Credit. If Tenant fails to so renew and deliver said Letter of Credit to Landlord by the thirtieth (30th) day preceding each said expiration date, such failure shall constitute a Default hereunder (as to which no cure period shall be applicable) and Landlord may draw upon the Letter of Credit then in effect without the necessity of any other monetary or other default hereunder by Tenant, in which event the proceeds thereof shall be held by Landlord. Said Letter of Credit shall provide that Landlord shall be permitted to draw on same on multiple occasions following the occurrence of a Default by Tenant under this Lease; provided, however, that in the event that said Letter of Credit would expire during the pendency of any litigation to resolve whether such Default has occurred, Landlord may draw upon said Letter of Credit prior to the expiration thereof. In the event that Landlord draws upon the Letter of Credit after a Default by Tenant as aforesaid, Landlord shall use, apply or retain all or any portion of the proceeds thereof for (i) the payment of any Rent or any other sums as to which Tenant is in default, (ii) the payment of any amount which Landlord may spend or become obligated to spend to repair damage to the Premises or the Building for which repairs Tenant is liable hereunder, or (iii) compensation to Landlord for any losses which Landlord is entitled to recover hereunder by reason of Tenant's Default, including, but not limited to, any damage or deficiency arising in connection with the reletting of the Premises and all associated reasonable legal fees. In the event that the Letter of Credit is drawn upon by Landlord for failure of Tenant to renew said Letter of Credit as aforesaid, the proceeds thereof shall be held by Landlord in accordance with the provisions respecting the Security Deposit under this Section 36, and, in such event, within sixty (60) days after the expiration of the Term, and provided Tenant has vacated the Premises and is not in default hereunder, Landlord shall return such proceeds to Tenant, less such portion thereof as Landlord may be entitled hereunder to apply to satisfy any Default by Tenant hereunder. In the event that Tenant is in default upon the expiration of the Term and Landlord does not use all of the Security Deposit shall be reduced as of the dates set forth in the following table to the corresponding amounts set forth in the following tablecure such default, except that there shall be no then, after such reduction if, as of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such Default default has been cured, or (b) any circumstance which with the giving of notice, the passage of time, or both would constitute a Default by Tenant (provided that Landlord shall have the right to notify Tenant in writing within ten (10) days following the expiration return any unused balance of the applicable month of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit to Tenant. The use, application or retention of the proceeds of the Letter of Credit, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by law, and shall not limit any recovery to which Landlord may otherwise be postponed if either (i) entitled. In the event of the sale or transfer of Landlord's interest in the Building or the Land, Landlord fails shall transfer the proceeds of the Letter of Credit to so notify the purchaser or transferee, in which event Tenant within such 10-day period shall look only to the purchaser or (ii) transferee for the return of the proceeds of the Letter of Credit, and Landlord does notify shall be released from all liability to Tenant for the return of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000proceeds.

Amount and Uses. Within twenty Landlord acknowledges receipt from Tenant of Thirteen Thousand Six Hundred Twelve and 17/100 Dollars (20$13,612.17) days following the date (the “LOC Outside Delivery Date”) of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the "Security Deposit in the form of a Letter of Credit (as hereinafter definedDeposit"), to be held by Landlord as security for the payment of all Rent payable by Tenant and for the faithful performance by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), provided Tenant shall have made all such payments and performed all such obligations hereunder. Landlord shall not be required to maintain the Security Deposit in a separate account. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s 's option, appropriate and apply the entire Security Deposit, or so much thereof as Landlord believes may be necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five (5) days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum deposited. Tenant’s 's failure to restore any such deficiency shall constitute a Default hereunder. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. The amount of the Security Deposit shall be reduced as of the dates set forth in the following table to the corresponding amounts set forth in the following table, except that there shall be no such reduction if, as of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such Default has been cured, or (b) any circumstance which with the giving of notice, the passage of time, or both would constitute a Default by Tenant (provided that Landlord shall have the right to notify Tenant in writing within ten (10) days following the expiration of the applicable month of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit shall not be postponed if either (i) Landlord fails to so notify Tenant within such 10-day period or (ii) Landlord does notify Tenant of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000.

Amount and Uses. Within twenty Landlord xxxxxxxedges receipt from Tenant of Seventy-Eight Thousand One Hundred Thirty-Two Dollars (20$78,132.00) days following the date (the “LOC Outside Delivery Date”) of full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord the "Security Deposit in the form of a Letter of Credit (as hereinafter definedDeposit"), to be held by Landlord as security for the payment of all Rent payable by Tenant and for the faithful performance perxxxxxxce by Tenant of all other obligations of Tenant under this Lease. In the event that the Letter of Credit has not been delivered to Landlord on or before the LOC Outside Delivery Date, then this Lease shall automatically be null and void and of no further force or effect, without the requirement of any notice from either party, and neither party shall have any obligation to the other accruing after such LOC Outside Delivery Date. If at any time during the Term the Security Deposit is in the form of cash, said Said Security Deposit shall be repaid to Tenant after the termination of this Lease (or any renewal thereof), provided Tenant shall have made all such payments and performed all such obligations hereunder. Landlord shall not be required to maintain the Security Deposit in a separate account. The Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Tenant without the prior written consent of Landlord, and any such act shall be void. Landlord may, at Landlord’s 's option, appropriate and apply xxx xxply the entire Security Deposit, or so much thereof as Landlord believes may be necessary, to compensate Landlord for the payment of any past-due Rent and for loss or damage sustained by Landlord due to any Default. In the event Landlord appropriates or applies the Security Deposit in such a manner, Tenant, within five (5) days after notice thereof, shall pay to Landlord an amount sufficient to restore the Security Deposit to the original sum deposited. Tenant’s 's failure to restore any such deficiency shall constitute a Default hereunder. In the event of bankruptcy or other debtor-creditor proceedings by or against Tenant, the Security Deposit shall be applied first to the payment of Rent due Landlord for all periods prior to the filing of such proceedings. The amount of the Security Deposit shall be reduced as of the dates set forth in the following table to the corresponding amounts set forth in the following table, except that there shall be no such reduction if, as of a scheduled reduction date, there exists (a) any Default under this Lease until such time as such Default has been cured, or (b) any circumstance which with the giving of notice, the passage of time, or both would constitute a Default by Tenant (provided that Landlord shall have the right to notify Tenant in writing within ten (10) days following the expiration of the applicable month of the Term at which such reduction is scheduled to occur as to whether any such circumstance does then exist and such reduction in the Security Deposit shall not be postponed if either (i) Landlord fails to so notify Tenant within such 10-day period or (ii) Landlord does notify Tenant of such circumstance constituting a default within such 10-day period and Tenant then cures such default within the applicable cure period set forth in this Lease), at which time the reduction in the Security Deposit shall occur: Last day of month 34 $1,350,000 Last day of month 46 $850,000 Last day of month 58 $350,000.