Common use of Replacement of Letter of Credit Clause in Contracts

Replacement of Letter of Credit. A. If the Letter of Credit held by Landlord expires or terminates before the Final LC Expiration Date (whether by reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver to Landlord, not later than 45 days before such expiration or termination, a new Letter of Credit, or a certificate of renewal or extension of the Letter of Credit held by Landlord, in an amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds (defined in Section 5.3 below) then held by Landlord) and otherwise satisfying all of the requirements set forth in the first sentence of Section 5.1 above (the “LC Requirements”).

Replacement of Letter of Credit. A. If the Letter of Credit held by Landlord expires or terminates before the Final LC Expiration Date (whether by reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver to Landlord, not later than 45 60 days before such expiration or termination, a new Letter of Credit, or a certificate of renewal or extension of the Letter of Credit held by Landlord, in an amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds (defined in Section 5.3 2.3 below) then held by Landlord) and otherwise satisfying all of the requirements set forth in the first sentence of Section 5.1 2.1 above (the “LC Requirements”).

Replacement of Letter of Credit. A. i. If the Letter of Credit held by Landlord expires or terminates before the Final LC Expiration Date (whether by reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver to Landlord, not later than 45 days before such expiration or termination, a new Letter of Credit, or a certificate of renewal or extension of the Letter of Credit held by Landlord, in an amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds (defined in Section 5.3 4.5 below) then held by Landlord) and otherwise satisfying all of the requirements set forth in the first sentence of Section 5.1 4.1 above (the “LC Requirements”).

Replacement of Letter of Credit. A. If the Letter of Credit held by Landlord expires or terminates before the Final LC Expiration Date (whether by reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver to Landlord, not later than 45 60 days before such expiration or termination, a new Letter of Credit, or a certificate of renewal or extension of the Letter of Credit held by Landlord, in an amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds (defined in Section 5.3 6.3 below) then held by Landlord) and otherwise satisfying all of the requirements set forth in the first sentence of Section 5.1 6.1 above (the “LC Requirements”).

Replacement of Letter of Credit. A. If the Letter of Credit held by Landlord expires or terminates before the Final LC Expiration Date (whether by reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver to Landlord, not later than 45 days before such expiration or termination, a new Letter of Credit, or a certificate of renewal or extension of the Letter of Credit held by Landlord, in an amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds (defined in Section 5.3 2.3 below) then held by Landlord) and otherwise satisfying all of the requirements set forth in the first sentence of Section 5.1 2.1 above (the “LC Requirements”).