Renewal and Replacement. The Letter of Credit must provide that it will be automatically renewed unless Issuer provides written notice of nonrenewal to Landlord at least 60 days prior to the expiration date of the Letter of Credit. If written notice of nonrenewal is received from Issuer, Tenant must renew the Letter of Credit or replace it with a new Letter of Credit, at least 30 days prior to the stated expiration date of the then-current Letter of Credit. Any renewal or replacement Letter of Credit must meet the criteria set forth in Section 1 above, and must have a term commencing at least one day prior to the stated the expiration date of the immediately prior Letter of Credit. Failure to provide a renewal or replacement Letter of Credit as provided above will, at Landlord’s election, be an Event of Default under this Lease.
Renewal and Replacement. Unless cancelled, the Card will be valid through the expiration date printed on its face. By this Agreement, you request that we issue a renewal Card (and replacement Card if necessary) to you before the current Card expires. As long as your Card Account is in good standing, we will continue to issue renewal or replacement Cards until you or your Organization tells us to stop or the Card and Card Account are cancelled.
Renewal and Replacement. CONSULTANT will utilize the condition and criticality scoring to establish a risk score for all assets, asset types and/or processes. This will enable prioritization of assets for renewal or replacement based on asset risk and will be used to develop a prioritized list of capital improvement projects (CIP). R&R projects will be incorporated into the overall CIP in Task 6. Renewal and replacement development tasks will include the following:
2.4.1 Identify R&R projects, if warranted by risk analysis
2.4.2 Establish standard unit R&R costs
2.4.3 GIS Database configuration 2.4.4 Identify feasible R&R management and funding scenarios Task 2 Deliverable(s):
2.1 Draft master plan chapter
2.2 Updated DIMP risk assessment and rankings
2.3 Prioritization of R&R of at risk assets Task 2 City Responsibilities:
Renewal and Replacement. (i) Customer shall renew or cause to be renewed each outstanding letter of credit on a timely basis as provided in the relevant letter of credit.
(ii) If the financial institution issuing a letter of credit has indicated its intention not to renew such letter of credit, Customer shall provide a substitute or replacement letter of credit at least twenty (20) Business Days prior to the expiration of the outstanding letter of credit.
(iii) A failure by the financial institution issuing a letter of credit to honor WGSLP's properly documented request to draw on the outstanding letter of credit shall constitute an Event of Default by Customer pursuant to subsection 6.1(a) hereunder.
Renewal and Replacement. The City will provide funding to the FGUA on a monthly basis to carry out minor renewal and replacements activities, as identified in Appendix A and B attached hereto and incorporated herein. Any renewal and replacement requirements in excess of the funds provided to the FGUA remain the responsibility of the City.
Renewal and Replacement. This Agreement renews and replaces the 1998 Credit Agreement in its entirety.
Renewal and Replacement. Fund shall mean the fund requested by the Authority’s bond rating agency to pay the cost of unanticipated repairs and replacements of major components of the Airport, for the cost of acquisition or construction of improvements, extensions, or additions, or replacement required to be charged to a capital account, to purchase Bonds for cancellation, and to redeem Bonds at the earliest possible date.
Renewal and Replacement. The Letter of Credit must provide that it will be automatically renewed unless Issuer provides written notice of non-renewal to Landlord at least 30 days prior to the expiration date of the Letter of Credit. If written notice of non-renewal is received from Issuer, Tenant must renew the Letter of Credit or replace it with a new Letter of Credit, at least ten Business Days prior to the stated expiration date of the then-current Letter of Credit. Any renewal or replacement Letter of Credit must meet the criteria set forth in Section 18.1 hereof, and must have a term commencing at least one day prior to the stated expiration date of the immediately prior Letter of Credit. Failure to provide a renewal or replacement Letter of Credit as provided above will, at Landlord’s election, be an Event of Default under this Lease. Notwithstanding the foregoing, Landlord acknowledges and agrees that Tenant shall have the right, from time to time throughout the Term of this Lease, to deliver to Landlord a substitute Letter of Credit hereunder, the form and substance of which substitute Letter of Credit shall be subject to Landlord’s reasonable approval and the terms of this Article 18. Upon Tenant’s written request from time to time, Landlord shall provide Tenant with a letter confirming the then-current Letter of Credit amount (including the amount of any actual increases and reductions with respect thereto).
Renewal and Replacement. The Letter of Credit must provide that it will be automatically renewed unless issuer provides written notice of non-renewal to Seller and Title Company at least sixty (60) days prior to the expiration of the Letter of Credit. If written notice of non-renewal is received from issuer, Purchaser must renew the Letter of Credit or replace it with a new Letter of Credit at least thirty (30) days and no more than sixty (60) days prior to the date of expiration date of the then current Letter of Credit. Any renewal or replacement Letter of Credit must meet the criteria set forth in Paragraph (1) above, and must have a term commencing no later than the stated expiration date of the immediately prior Letter of Credit. Failure to provide a renewal or replacement Letter of Credit as provided above will, at Seller’s election be deemed an uncured and uncureable default under this Agreement.
Renewal and Replacement. If the Letter of Credit provides that it will be automatically renewed unless Issuer provides written notice of nonrenewal to Landlord, the Letter of Credit must require that Issuer provide such written notice of nonrenewal to Landlord at least 60 days prior to the expiration date of the Letter of Credit. If the Letter of Credit does not provide for such automatic renewal (or if written notice of nonrenewal is received from Issuer), Tenant must renew the Letter of Credit or replace it with a new Letter of Credit, at least 30 days prior to the stated expiration date of the then-current Letter of Credit. Any renewal or replacement Letter of Credit must meet the criteria set forth in Section 2.6 and have a term commencing at least one day prior to the stated the expiration date of the immediately prior Letter of Credit.
