Draws on Credit Facility Sample Clauses

Draws on Credit Facility. If, at any time during the Term, Tenant ------------------------ has committed an event of default in the payment or performance of any provision of this Lease, beyond any applicable notice and cure periods, Landlord shall have the right to draw on the then-current or any succeeding Letter of Credit in whole or in part and use the proceeds, or so much as is necessary, in payment of any rent or other sums due from Tenant and in default hereunder, reimbursement of any expense incurred by Landlord, and in payment of any damages incurred by Landlord by reason of Tenant's default. The Letter of Credit shall provide that the issuing bank agrees with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of the Letter of Credit that such drafts will be duly honored on presentation to the drawee. Drafts on the last Letter of Credit deposited hereunder must be drawn and presented to the issuing bank not later than sixty (60) days after the Termination Date.

Draws on Credit Facility. If, at any time during the Term, Sublessee has committed an event of default in the payment or performance of any provision of this Sublease, beyond any applicable notice and cure periods, Sublessor shall have the right to draw on the then-current or any succeeding Letter of Credit in whole or in part and use the proceeds, or so much as is necessary, in payment of any rent or other sums due from Sublessee and in default hereunder, reimbursement of any expense incurred by Sublessor, and in payment of any damages incurred by Sublessor by reason of Sublessee’s default. The Letter of Credit shall provide that the issuing bank agrees with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of the Letter of Credit that such drafts will be duly honored on presentation to the drawee. Drafts on the last Letter of Credit deposited hereunder must be drawn and presented to the issuing bank not later than the expiration date.

Draws on Credit Facility. In the event that moneys from the source described in Section 2.05(g)(i) are insufficient to pay the Purchase Price of Series 2014_ Bonds tendered or deemed tendered on an Optional Tender Date or a Mandatory Purchase Date, if a Credit Facility is then in effect, the Bond Registrar shall, by 11:00 a.m., Local Time, on such Optional Tender Date or Mandatory Purchase Date, take all action required to cause the Purchase Price of such Series 2014_ Bonds, to the extent not available from the source described in Section 2.05(g)(i), to be paid from the Credit Facility. In the event the Purchase Price of Series 2014_ Bonds is paid from the Credit Facility as described herein, and the Board does not reimburse the Credit Provider for such Purchase Price, upon the remarketing of such Series 2014_ Bonds as described in Section 2.06(a), the Bond Registrar shall deliver the proceeds of the remarketing of such Series 2014_ Bonds to the Credit Provider.