Common use of Reduction in Letter of Credit Amount Clause in Contracts

Reduction in Letter of Credit Amount. Provided that, during the12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default has occurred under this Lease which remains uncured following any applicable cure period (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 effective as of July 1, 2006; and (b) $50,000.00 effective as of July 1, 2007. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default within any applicable cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the existing Letter of Credit reflecting the reduced amount.

Reduction in Letter of Credit Amount. Provided that, during the12 the 12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default Default has occurred under this Lease which remains uncured following any applicable cure period (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 63,750.00 effective as of July 1, 2006the first day of the 25th full month of the Term; and (b) $50,000.00 42,500.00 effective as of July 1, 2007the first day of the 37th full month of the Term; and (c) $21,250.00 effective as the first day of the 49th full month of the Term. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default Default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default Default within any applicable cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the existing Letter of Credit reflecting the reduced amount.

Reduction in Letter of Credit Amount. Provided that, during the12 the 12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default monetary Default has occurred under this Lease which remains uncured following any applicable cure period (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 113,000 effective as of July 1, 2006the 13th full calendar month of the Lease Term; and (b) $50,000.00 56,000.00 effective as of July 1, 2007the 25th full calendar month of the Lease Term; (c) $0 effective as of the 37th full calendar month of the Lease Term. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default monetary Default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default monetary Default within any applicable cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the existing Letter of Credit reflecting the reduced amount.

Reduction in Letter of Credit Amount. Provided that, during the12 the 12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default Default has occurred under this Lease which remains uncured following was not cured by Tenant within any applicable notice and cure period periods (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 857,143.00 effective as of July 1, 2006the first (1st) anniversary of the Commencement Date; and (b) $50,000.00 714,286.00 effective as of July 1the second (2nd) anniversary of the Commencement Date; (c) $517,429.00 effective as of the third (3rd) anniversary of the Commencement Date; (d) $428,572.00 effective as of the fourth (4th) anniversary of the Commencement Date, 2007(e) $285,715.00 effective as of the fifth (5th) anniversary of the Commencement Date and (f) $142,858.00 effective as of the sixth (6th) anniversary of the Commencement Date. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default Default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default Default within any applicable notice and cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the existing Letter of Credit reflecting the reduced amount... EXHIBIT G

Reduction in Letter of Credit Amount. Provided that, during the12 the 12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default Default has occurred under this Lease which remains uncured following any applicable cure period (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 169,867.50 effective as of July 1, 2006the first day of the 42nd full calendar month of the Suite 500 Expansion Term; and (b) $50,000.00 135,894.00 effective as of July 1, 2007the first day of the 54th full calendar month of the Suite 500 Expansion Term; (c) $101,920.50 effective as of the first day of the 66th full calendar month of the Suite 500 Expansion Term; (d) $33,973.50 effective as of the first day of the 78th full calendar month of the Suite 500 Expansion Term. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default Default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default Default within any applicable cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the existing Letter of Credit reflecting the reduced amount.

Reduction in Letter of Credit Amount. Provided that, during the12 the 12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default Default has occurred under this Lease which remains uncured following any applicable cure period (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 260,000.00 effective as of July 1, 2006the first day of the 49th full calendar month of the Term; and (b) $50,000.00 160,000.00 effective as of July 1, 2007the first day of the 61st full calendar month of the Term. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default Default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default Default within any applicable cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the existing Letter of Credit reflecting the reduced amount.

Reduction in Letter of Credit Amount. Section 6.6 of Exhibit F to the Original Lease (entitled Reduction in Letter of Credit Amount) is hereby amended to read as follows: “Provided that, during the12 the 12 month period immediately preceding the effective date of any reduction of the Letter of Credit, Tenant has timely paid all Rent and no default Default has occurred under this Lease which remains uncured following was not cured by Tenant within any applicable notice and cure period periods (the “LC Reduction Conditions”), Tenant may reduce the Letter of Credit Amount so that the reduced Letter of Credit Amounts will be as follows: (a) $75,000.00 2,000,000.00 effective as of July April 1, 20062018; and (b) $50,000.00 1,500,000.00 effective as of July April 1, 20072019; and (c) $1,000,000.00 effective as of April 1, 2021. If Tenant is not entitled to reduce the Letter of Credit Amount as of a particular reduction effective date due to Tenant’s 's failure to satisfy the LC Reduction Conditions described above, then any subsequent reduction(s) Tenant is entitled to hereunder shall be reduced by the amount of the reduction Tenant would have been entitled to had Tenant satisfied the LC Reduction Conditions necessary for such earlier reduction. Notwithstanding anything to the contrary contained herein, if Tenant has been in default Default under this Lease at any time prior to the effective date of any reduction of the Letter of Credit Amount and Tenant has failed to cure such default Default within any applicable notice and cure period, then Tenant shall have no further right to reduce the Letter of Credit Amount as described herein. Any reduction in the Letter of Credit Amount shall be accomplished by Tenant providing Landlord with a substitute letter of credit in the reduced amount or an amendment to the then existing Letter of Credit reflecting the reduced amount.”