Common use of Replacement of Letter of Credit Upon Draw Clause in Contracts

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord of all or any part of the Letter of Credit pursuant to the terms hereof, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord and not applied pursuant to Section 9(c) above shall be less than the Letter of Credit Amount, Tenant shall, within five (5) days thereafter, provide Landlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9; notwithstanding anything to the contrary contained in this Lease, if Tenant fails to timely comply with the foregoing, the same shall constitute a Default by Tenant under this Lease, without the necessity of additional notice or the passage of additional grace periods.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord and not applied pursuant to Section 9(c10 (c) above shall be less than the Letter of Credit Amount, Tenant shall, within five (5) days thereafter, provide Landlord with additional Letter(sletter(s) of Credit credit in an amount equal to the deficiency (or a replacement or amended Letter letter of Credit credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter letter of Credit credit shall comply with all of the provisions of this Article 9Section 10; notwithstanding anything to the contrary contained in this Lease, if Tenant fails to timely comply with the foregoing, the same shall constitute a Default default by Tenant under this Lease, without the necessity of additional notice or the passage of additional grace periods. Tenant further covenants and warrants that it will neither assign nor encumber the Letter of Credit or any part thereof and that neither Landlord nor its successors or assigns will be found by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord Sublandlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord Sublandlord and not applied pursuant to Section 9(c) 17.3 above shall be less than the Letter of Credit Amount, Tenant Subtenant shall, within five ten (510) business days thereafter, provide Landlord Sublandlord with additional Letter(s) of Credit or cash proceeds in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9Sublease; notwithstanding anything to the contrary contained in this LeaseSublease, if Tenant Subtenant fails to timely comply with the foregoing, the same shall constitute a Default by Tenant Subtenant under this LeaseSublease, without the necessity of additional notice or the passage of additional grace periods.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord Sublandlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord Sublandlord and not applied pursuant to Section 9(c) 17.3 above shall be less than the Letter of Credit Amount, Tenant Subtenant shall, within five ten (510) business days thereafter, provide Landlord Sublandlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9Sublease; notwithstanding anything to the contrary contained in this LeaseSublease, if Tenant Subtenant fails to timely comply with the foregoing, the same shall constitute a Default by Tenant Subtenant under this LeaseSublease, without the necessity of additional notice or the passage of additional grace periods.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord and not applied pursuant to Section 9(c10(c) above shall be less than the Letter of Credit Amount, Tenant shall, within five ten (510) days thereafter, provide Landlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9Section 10; notwithstanding anything to the contrary contained in this Lease, if Tenant fails to timely comply with the foregoing, the same shall constitute a Default by Tenant under this Lease, without the necessity of additional notice or the passage of additional grace periods. Tenant further covenants and warrants that it will neither assign nor encumber the Letter of Credit or any part thereof and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the remaining amount of available for draw under the Letter of Credit plus any cash proceeds previously drawn by Landlord and not applied pursuant to Section 9(c) above shall be less than the Letter of Credit Amount, Tenant shall, within five ten (510) days Business Days thereafter, provide Landlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9; notwithstanding anything to the contrary contained in this Lease, if Tenant fails to timely comply with the foregoing, the same shall constitute a Default by Tenant under this Lease, without the necessity of additional notice or the passage of additional grace periods.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord and not applied pursuant to Section 9(c6(c) above shall be less than the Letter of Credit Amount, Tenant shall, within five (5) days thereafter, provide Landlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9Section 10; notwithstanding anything to the contrary contained in this Lease, if Tenant fails to timely comply with the foregoing, the same shall constitute a an Event of Default by Tenant under this Lease, without the necessity of additional notice or the passage of additional grace periods.

Replacement of Letter of Credit Upon Draw. If, as result of any application or use by Landlord Sublandlord of all or any part of the Letter of Credit pursuant to the terms hereofCredit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Landlord Sublandlord and not applied pursuant to the terms of this Section 9(c) above 4.2 shall be less than the Letter of Credit Amount, Tenant Subtenant shall, within five ten (510) days Business Days thereafter, provide Landlord Sublandlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Letter of Credit Amount), and any such additional (or replacement or amended) Letter of Credit shall comply with all of the provisions of this Article 9Section 4.2; notwithstanding anything to the contrary contained in this LeaseSublease, if Tenant Subtenant fails timely to timely comply with the foregoing, the same shall constitute a Default by Tenant Subtenant under this LeaseSublease, without the necessity of additional notice or the passage of additional grace periods.