Common use of Landlord's Right to Draw on Letter of Credit Clause in Contracts

Landlord's Right to Draw on Letter of Credit. Landlord shall hold the LOC as additional security for the performance of Tenant's obligations under this Lease. If, after notice and failure to cure within any applicable period provided in this Lease, Tenant defaults on any provision of this Lease, Landlord may without prejudice to any other remedy it has, draw on that portion of the LOC necessary to (a) pay Rent or other sum in default; (b) payor reimburse Landlord for any amount that Landlord may spend or become obligated to spend in exercising Landlord's right under Paragraph 23 (Defaults and Remedies); and/or (c) compensate Landlord for any expense, loss or damage that Landlord may suffer because of Tenant's default. If Tenant fails to renew or replace the LOC at least thirty (30) days before its expiration, Landlord may, without prejudice to any other remedy it has, draw on the entire amount of the LOC.

Landlord's Right to Draw on Letter of Credit. Landlord shall hold the LOC LC as additional security for the performance of Tenant's obligations under this Lease. If, after notice and failure to cure within any applicable period provided in this the Lease, Tenant defaults on any provision of this Lease, Landlord may may, without prejudice to any other remedy it has, draw on that portion of the LOC LC necessary to (a) pay Rent or other sum in default; (b) payor pay or reimburse Landlord for any amount that Landlord may reasonably spend or become obligated to spend in exercising Landlord's right rights under Paragraph 23 30 (Defaults and RemediesRight of Landlord to Perform Tenant's Covenant); and/or (c) compensate Landlord for any reasonable expense, loss loss, or damage that Landlord may suffer because of Tenant's default. If Tenant fails to renew or replace the LOC LC at least thirty (30) days before its the expiration, Landlord may, without prejudice to any other remedy it has, draw on the entire amount of the LOCLC.

Landlord's Right to Draw on Letter of Credit. Landlord shall hold the LOC as additional security for the performance of Tenant's obligations under this Lease. If, after notice and failure to cure within any applicable period provided in this Lease, Tenant defaults on any provision of this Lease, Landlord may may, without prejudice to any other remedy it has, draw on that portion of the LOC necessary to (a) pay Rent or other sum in default; (b) payor pay or reimburse Landlord for any amount that Landlord may spend or become obligated to spend in exercising Landlord's right rights under Paragraph 23 13.2 of the Lease (Defaults and Landlord's Remedies); and/or (c) compensate Landlord for any expense, loss loss, or damage that Landlord may suffer because of Tenant's default. If Tenant fails to renew or replace the LOC at least thirty (30) days before its expiration, Landlord may, without prejudice to any other remedy it has, draw on the entire amount of the LOC.

Landlord's Right to Draw on Letter of Credit. Landlord shall hold the LOC as additional security for the performance of Tenant's obligations under this Lease. If, after notice and failure to cure within any applicable period provided in this Lease, Tenant defaults on any provision of this Lease, Landlord may may, without prejudice to any other remedy it has, draw on that portion of the LOC necessary to (a) pay Rent or other sum in default; (b) payor pay or reimburse Landlord for any amount that Landlord may spend or become obligated to spend in exercising Landlord's right rights under Paragraph 23 24.12 (Defaults and RemediesRight of Landlord to Perform Tenant's Covenant); and/or (c) compensate Landlord for any expense, loss loss, or damage that Landlord may suffer because of Tenant's default. If Tenant fails to renew or replace the LOC at least thirty twenty (3020) days before its expiration, Landlord may, without prejudice to any other remedy it has, draw on the entire amount of the LOC.

Landlord's Right to Draw on Letter of Credit. Landlord shall hold the LOC as additional security for the performance of Tenant's obligations under this Lease. If, after notice and failure to cure within any applicable period provided in this Lease, Tenant defaults on any provision of this Lease, Landlord may may, without prejudice to any other remedy it has, draw on that portion of the LOC necessary to (a) pay Rent or other sum in default; (b) payor pay or reimburse Landlord for any amount that Landlord may spend or become obligated to spend in exercising Landlord's right rights under Paragraph 23 7.2 (Defaults Repairs and RemediesMaintenance); and/or (c) compensate Landlord for any expense, loss loss, or damage that Landlord may suffer because of Tenant's default. If Tenant fails to renew or replace the LOC at least thirty five (305) business days before its expiration, Landlord may, without prejudice to any other remedy it has, draw on the entire amount of the LOCLOC and hold and/or disburse pursuant to the terms of this Lease.

Landlord's Right to Draw on Letter of Credit. Landlord shall hold the LOC as additional security for the performance of Tenant's obligations under this the Lease. If, after notice and failure to cure within any applicable period provided in this Lease, Tenant defaults on any provision of this the Lease, Landlord may may, without prejudice to any other remedy it has, draw on that portion of the LOC necessary to (a) pay Rent or other sum in default; (b) payor pay or reimburse Landlord for any amount that Landlord may spend or become obligated to spend in exercising Landlord's right rights under Paragraph 23 25 (Defaults and RemediesRight of Landlord to Perform); and/or (c) compensate Landlord for any expense, loss loss, or damage that Landlord may suffer because of Tenant's default. If Tenant fails to renew or replace the LOC at least thirty (30) days before its expiration, Landlord may, without prejudice to any other remedy it has, draw on the entire amount of the LOC.