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

Reduction of L-C Amount. To the extent that Tenant is not in default under this Lease (beyond the applicable notice and cure period set forth in this Lease) (the “LC Reduction Contingency”), the L-C Amount shall be reduced as follows: Date of Reduction L-C Amount 24th Month Anniversary of Lease Commencement Date $ 1,917,759.40 Notwithstanding anything to the contrary set forth in this Section 20.3.2, in no event shall the L-C Amount as set forth above decrease during any period in which Tenant is in default under this Lease and/or in the event the LC Reduction Contingency is not satisfied, but such decrease shall take place retroactively after such default is cured and/or after the LC Reduction Contingency is satisfied, provided that no such decrease shall thereafter take effect in the event this Lease is terminated early due to such default by Tenant.