Common use of Deposit of Letter of Credit Security Clause in Contracts

Deposit of Letter of Credit Security. Lessee shall deposit with Lessor, not later than three (3) business days after the execution of this Lease, an unconditional, irrevocable letter of credit (“Letter of Credit”) on a form acceptable to Lessor and, if required, Lessor’s lender(s), and in favor of Beneficiary (as defined below) in the amount of One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) (the “Letter of Credit Security”). “

Deposit of Letter of Credit Security. Lessee shall deposit with Lessor, not no later than three ten (310) business days after the execution of this Lease, an unconditional, irrevocable letter of credit (“Letter of Credit”) on a form acceptable to Lessor and, if required, Lessor’s lender(s), and in favor of Beneficiary (as Beneficiary, defined below) , in the amount of Three Hundred Sixty-One Million Five Thousand Four Hundred Thousand Sixteen and 00/100 60/100 Dollars ($1,500,000.00361,416.60) (the “Letter of Credit Security”). “

Deposit of Letter of Credit Security. Lessee shall deposit with Lessor, not no later than three (3) business days after the execution of this LeaseMarch 1, 2006, an unconditional, irrevocable letter of credit (“Letter of Credit”) on a form acceptable to Lessor and, if required, Lessor’s lender(s), and in favor of Beneficiary (as Beneficiary, defined below) , in the amount of Two Hundred Ninety-One Million Five Thousand Two Hundred Thousand Thirty-Six and 00/100 30/100 Dollars ($1,500,000.00291,236.30), subject to increase pursuant to Subsection 4.06(g) below (the “Letter of Credit Security”). “