Failure to Renew or Extend Letter of Credit. If the letter of credit is not renewed or extended at least thirty (30) Days prior to its expiration or earlier termination, Company shall have the right to draw immediately upon the full amount of the letter of credit and to place the proceeds of such draw (the "L/C Proceeds"), at Seller's cost, in an escrow account in accordance with Section 14.9 (L/C Proceeds Escrow), until and unless Seller provides a substitute letter of credit meeting the requirements of this Article 14 (Credit Assurance and Security).
Failure to Renew or Extend Letter of Credit. If the letter of credit is not renewed or extended at least thirty (30) Business Days prior to its expiration or earlier termination, and if such renewal or extension is required to maintain the required Development Security or Operating Period Security pursuant to Sections 9.1 and 9.3, Buyer shall have the right to draw immediately upon the full amount of the letter of credit and to place the proceeds of such draw (the “L/C Proceeds”), at Seller’s cost, in an escrow account in accordance with Section 9.8 (L/C Proceeds Escrow), until and unless Seller provides a substitute letter of credit meeting the requirements of this Article 9 (Credit Assurance and Security).
