Burn Down Sample Clauses

Burn Down. Subject to the remaining terms of this Section 8.8, and provided that during the twelve (12) month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has not been in default under any provision of this Lease and failed to cure such default within any applicable notice and cure period, then Tenant shall have the right to reduce the amount of the Letter of Credit so that the Letter of Credit Amount will be $157,751.64 effective as of the first day of the third (3rd) lease year. In order to effect any such reduction, Tenant shall either deliver an amendment to the existing Letter of Credit or a replacement letter of credit in the new amount that otherwise complies with all other applicable requirements specified in this Section 8. Notwithstanding anything in this Section 8 to the contrary, there shall be no return of the Letter of Credit to Tenant at any time while Tenant is in default of any of its obligations under this Lease.
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Burn Down. Notwithstanding any other provision in this Section, and provided that the Letter of Credit shall in no instances be less than One Hundred Thousand and 00/100 Dollars ($100,000.00) if and only if: a) Sublessee shall have made each payment required to be made by Sublessee under the Sublease as and when due subject to any applicable notice and cure periods; b) Sublessee shall not have defaulted in any of Sublessee's material obligations under the Sublease subject to any applicable notice and cure periods; and c) provided that Sublessee first tenders to Sublessor the necessary replacement Letter of Credit: (i) at the end of the first quarter in which Sublessee obtains a positive cash flow and Sublessee's cash balance is above Five Million and 00/100 Dollars ($5,000,000.00) Sublessor, or its successor, shall deliver the to Sublessee one of the existing $75,000.00 Letters of Credit to Sublessee and Sublessee shall replace such Letter of Credit with a Letter of Credit in the amount of $25,000.00 or Sublessor, or its successor shall deliver to Sublessee the $50,000.00 Letter of Credit; (ii) at the end of the second quarter in which Sublessee receives a positive cash flow and Sublessee's cash balance is above Five Million and 00/100 Dollars ($50,000,000.00) Sublessor, or its successor, shall deliver one of the existing $75,000.00 Letters of Credit to Sublessee and Sublessee shall replace such Letter of Credit with a Letter of Credit in the amount of $25,000.00 or Sublessor or its successor shall deliver to Sublessee the $50,000.00 Letter of Credit; provided, however, that if, thereafter, Sublessee shall fail to make any payment due under this Sublease (within fifteen (15) days after the expiration of any applicable notice and cure periods) or shall default in any other obligation hereunder, Sublessee shall, within five (5) days after written demand by Sublessor, remit to Sublessor sufficient funds in the form of cash or equivalent, or a Letter of Credit in a form reasonably acceptable to Sublessor, in order to restore the Letter of Credit to the Two Hundred Thousand and 00/100 ($200,000.00) sum; Sublessee's failure to do so being a material breach of this Sublease.
Burn Down. The amount of the Security Deposit required to be posted by Tenant pursuant to this Article 29 shall be reduced as follows. From and after the fifth (5th) anniversary of the Rent Commencement Date, the amount of the Security Deposit shall be $7,892,360.00, and from after the tenth (10th) anniversary of the Rent Commencement Date, the amount of the Security Deposit shall be $3,946,180.00.

Related to Burn Down

  • Bring Down With respect to the Sellers Guide, nothing has occurred or failed to occur from and after the closing date set forth in the related MLPA to February 24, 2006, that would cause any of the representations and warranties relating to the Mortgage Loans set forth in Section II.B.2. of the Sellers Guide, as such may be amended by the related MLPA, to be incorrect in any material respects as of the date hereof as if made on the date hereof. It is understood and agreed that the representations and warranties set forth in this Section 5 shall survive delivery of the respective Mortgage Loan Documents to the Custodians and shall inure to the benefit of the Assignee and its assigns notwithstanding any restrictive or qualified endorsement or assignment. Upon the discovery by the Assignor or the Assignee and its assigns of a breach of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other parties to this Assignment Agreement, and in no event later than two (2) Business Days from the date of such discovery. It is understood and agreed that the obligations of the Assignor set forth in Section 6 to repurchase a Mortgage Loan constitute the sole remedies available to the Assignee and its assigns on their behalf respecting a breach of the representations and warranties contained in this Section 5. It is understood and agreed that the Assignor has made no representations or warranties to the Assignee other than those contained in this Section 5, and no other affiliate of the Assignor has made any representations or warranties of any kind to the Assignee.

  • Bring Down Opinions; Negative Assurance At each Representation Date, unless waived by the Manager, the Company shall furnish or cause to be furnished forthwith to the Manager and to counsel to the Manager a written opinion of counsel to the Company (“Company Counsel”) addressed to the Manager and dated and delivered on such Representation Date, in form and substance reasonably satisfactory to the Manager, including a negative assurance representation.

  • Bring Down Comfort On the effective date of any post-effective amendment to the Registration Statement and on such Closing Date, the Representatives shall have received a letter (the “bring-down letter”) from PricewaterhouseCoopers LLP addressed to the Underwriters and dated such Closing Date confirming, as of the date of the bring-down letter (or, with respect to matters involving changes or developments since the respective dates as of which specified financial information is given in the General Disclosure Package and the Prospectus, as the case may be, as of a date not more than three (3) business days prior to the date of the bring-down letter), the conclusions and findings of such firm, of the type ordinarily included in accountants’ “comfort letters” to underwriters, with respect to the financial information and other matters covered by its letter delivered to the Representatives concurrently with the execution of this Agreement pursuant to paragraph (g) of this Section 6.

  • Bring-down Comfort Letter At each of the Closing Date and the Option Closing Date, if any, the Representative shall have received from the Auditor a letter, dated as of the Closing Date or the Option Closing Date, as applicable, to the effect that the Auditor reaffirms the statements made in the letter furnished pursuant to Section 4.3.1, except that the specified date referred to shall be a date not more than three (3) business days prior to the Closing Date or the Option Closing Date, as applicable.

  • Company Counsel Opinions On the Closing Date and/or the Option Closing Date, the Representative shall have received

  • Bring-down Comfort Letters At the Closing Time, the Representatives shall have received from Deloitte Statsautoriseret Revisionspartnerselskab letters, dated as of the Closing Time, to the effect that they reaffirm the statements made in the letters furnished pursuant to subsection (j) of this Section, except that the specified date referred to shall be a date not more than three business days prior to the Closing Time.

  • Notice to the Underwriters The Depositor will advise the Underwriters promptly, and confirm such advice in writing, (i) when any amendment to the Registration Statement has been filed or becomes effective during the Prospectus Delivery Period; (ii) when any amendment or supplement to the Preliminary Prospectus or the Prospectus has been filed; (iii) of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Preliminary Prospectus or the Prospectus or the receipt of any comments from the Commission relating to the Registration Statement or any other request by the Commission for any additional information; (iv) of the issuance by the Commission of any order suspending the effectiveness of the Registration Statement or preventing or suspending the use of the Preliminary Prospectus or the Prospectus or the initiation or threatening of any proceeding for that purpose; (v) of the occurrence of any event during the Prospectus Delivery Period as a result of which the Preliminary Prospectus (as then amended or supplemented) or the Prospectus (as then amended or supplemented) would include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Preliminary Prospectus (as then amended or supplemented) or the Prospectus (as then amended or supplemented) is delivered to an investor, not misleading; and (vi) of the receipt by the Depositor of any notice with respect to any suspension of the qualification of the Offered Certificates for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Depositor will use its reasonable best efforts to prevent the issuance of any such order suspending the effectiveness of the Registration Statement, preventing or suspending the use of the Prospectus or suspending any such qualification of the Offered Certificates and, if issued, will obtain as soon as possible the withdrawal thereof.

  • Secondary Market Trading Survey Until such time as the Public Securities are listed or quoted, as the case may be, on the New York Stock Exchange, the American Stock Exchange or quoted on the Nasdaq National Market, or until such earlier time upon which the Company is required to be liquidated, the Company shall engage Xxxxxxxx Xxxxxx ("GM"), for a one-time fee of $5,000 payable on the Closing Date , to deliver and update to the Underwriters on a timely basis, but in any event on the Effective Date and at the beginning of each fiscal quarter, a written report detailing those states in which the Public Securities may be traded in non-issuer transactions under the Blue Sky laws of the fifty States ("Secondary Market Trading Survey").

  • Delivery Location The Aircraft shall be located at the agreed Delivery Location;

  • Floor Loading Floor loading capacity shall be within building design capacity. Tenant may exceed floor loading capacity with Landlord’s consent, at Landlord’s sole discretion and must, at Tenant’s sole cost and expense, reinforce the floor as required for such excess loading.

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