Common use of Reduction of L-C Amount Clause in Contracts

Reduction of L-C Amount. The L-C Amount shall not be reduced during the period commencing on the Lease Commencement Date and expiring on the last day of the second Lease Year (the “Fixed Period”). The Fixed Period shall be automatically extended (without the necessity of notice to Tenant) by four (4) months upon Tenant’s second (2nd) failure to pay any Rent or any other charge required to be paid under this Lease, or any part thereof, beyond applicable notice and cure periods, and shall be extended for an additional four (4) months upon each similar failure by Tenant thereafter. After the expiration of the Fixed Period (as the same may be extended pursuant to the immediately preceding sentence), provided that on or prior to the applicable Reduction Date, Tenant tenders to Landlord (a) evidence reasonably satisfactory to Landlord demonstrating the Tenant satisfies the “L-C Reduction Conditions,” as that term is defined below, and (b) a certificate of amendment to the existing L-C (or a new L-C), conforming in all respects to the requirements of this Article 21, in the amount of the applicable L-C Amount as of such Reduction Date, then the L-C Amount (as that amount may have been adjusted due to an expansion or reduction of the Premises in accordance with Article 1 of this Lease, the “Adjusted L-C Amount”), shall be reduced as follows: Reduction Date L-C Amount Lease Year 3 $ 375,114.60 Lease Year 4 $ 300,091.68 Lease Year 5 $ 225,068.76

Reduction of L-C Amount. The L-C Amount shall not be reduced during the that period commencing on the Lease Commencement Date and expiring ending on the last day of the second Lease Year 4 (the “"Fixed Period”"). The Fixed Period shall be automatically extended (without the necessity of notice to Tenant) by four (4) months upon Tenant’s 's second (2nd) failure to pay any Rent or any other charge required to be paid under this Lease, or any part thereof, beyond applicable notice and cure periods, and shall be extended for an additional four (4) months upon each similar failure by Tenant thereafter. After the expiration of the Fixed Period (as the same may be extended pursuant to the immediately preceding sentence), provided that on or prior to the applicable Reduction Date, Tenant is not then in monetary or material non-monetary default under this Lease beyond applicable notice and cure periods and Tenant tenders to Landlord (a) evidence reasonably satisfactory to Landlord demonstrating the Tenant satisfies the “L-C Reduction Conditions,” as that term is defined below, and (b) a certificate of amendment to the existing L-C (or a new L-C), conforming in all respects to the requirements of this Article 21, in the amount of the applicable L-C Amount as of such Reduction Date, then the L-C Amount (as that amount may have been adjusted due to an expansion or reduction of the Premises in accordance with Article 1 of this Lease, the “"Adjusted L-C Amount”"), shall be reduced as follows: Date of Reduction Date Amount of Reduction Remaining L-C Amount Lease Year 3 $ 375,114.60 Lease Year 4 $ 300,091.68 First Day of Lease Year 5 $ 225,068.76$857,142.86 $5,142,857.14 First Day of Lease Year 6 $857,142.86 $4,285,714.28 First Day of Lease Year 7 $857,142.86 $3,428,571.42 First Day of Lease Year 8 $857,142.86 $2,571,428.56 First Day of Lease Year 9 $857,142.86 $1,714,285.70 First Day of Lease Year 10 $857,142.86 $857,142.86 First Day of Lease Year 11 $857,142.86 $0.00 If Tenant is allowed to reduce the L-C Amount pursuant to the terms of this Section 21.7, then Landlord shall reasonably cooperate with Tenant in order to effectuate such reduction. In the event Tenant is in monetary or material non-monetary default under this Lease beyond applicable notice and cure periods as of the applicable Reduction Date, or if Tenant fails to deliver a certificate of amendment to the existing L-C (or new L-C) as required by this Section 21.7, then the L-C Amount shall not be reduced upon such applicable Reduction Date, but the terms of this Section 21.7 shall remain effective and the L-C Amount shall thereafter be reduced, to the amount applicable to such Reduction Date, on the date Tenant is no longer in monetary or material non-monetary default under this Lease beyond applicable notice and cure periods and Tenant delivers to Landlord a certificate of amendment to the existing L-C (or a new L-C), conforming in all respects to the requirements of this Article 21, in the amount of the applicable L-C Amount (provided that no such reductions shall be permitted in the event this Lease is terminated early as a result of a Tenant default).