REVIVAL OF LETTER OF CREDIT REQUIREMENT Sample Clauses

REVIVAL OF LETTER OF CREDIT REQUIREMENT. Following any return of the Letter of Credit pursuant to Paragraph 43(e)(i), if any quarterly financial statement delivered to Landlord pursuant to Paragraph 43(e)(i) reveals a "Deterioration in Financial Performance" (as defined below) by Tenant, within ten (10) days after delivery of such financial statement Tenant shall deliver to Landlord a Letter of Credit in the Required Amount equal to Monthly Base Rent plus Additional Rent for Expenses for the previous three months, and notwithstanding any other provisions of this Paragraph 43, such Letter of Credit shall not be reduced or released during the Term of this Lease. "Deterioration in Financial Performance" shall be evidenced by two consecutive quarterly financial statements that report any two of the following four items: (I) Quarterly Revenues of less than [*] (excluding Extraordinary One Time Charges, Stock Compensation Expenses and Goodwill); (II) Quarterly Pre-Tax Profit of less than [*] (excluding Extraordinary One Time Charges, Stock Compensation Expenses and Goodwill); (III) a Cash balance of less than [*], or including an unrestricted amount of less than [*]; and (IV) Net Equity of less than [*] (excluding Extraordinary One Time Charges, Stock Compensation Expenses and Goodwill).
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Related to REVIVAL OF LETTER OF CREDIT REQUIREMENT

  • Letter of Credit Requirements (a) Any Letter of Credit required under this Loan Agreement must satisfy the following conditions:

  • Effect of Letter of Credit Application To the extent that any provision of any Letter of Credit Application related to any Letter of Credit is inconsistent with the provisions of this Article III, the provisions of this Article III shall apply.

  • Issuance of Letter of Credit Upon satisfaction or waiver (in accordance with subsection 10.6) of the conditions set forth in subsection 4.3, the Issuing Lender shall issue the requested Letter of Credit in accordance with the Issuing Lender's standard operating procedures.

  • Letter of Credit Reports Each Issuing Bank shall furnish (A) to the Agent on the first Business Day of each month a written report summarizing issuance and expiration dates of Letters of Credit issued by such Issuing Bank during the preceding month and drawings during such month under all such Letters of Credit and (B) to the Agent on the first Business Day of each calendar quarter a written report setting forth the average daily aggregate Available Amount during the preceding calendar quarter of all Letters of Credit issued by such Issuing Bank.

  • Letter of Credit Request See §2.10(a).

  • Letter of Credit Requests (a) Whenever the Borrower desires that a Letter of Credit be issued for its account or for the account of any of its Subsidiaries, it shall give the Administrative Agent and the Letter of Credit Issuer at least five (or such lesser number as may be agreed upon by the Administrative Agent and the Letter of Credit Issuer) Business Days’ written notice thereof. Each such notice shall be executed by the Borrower and shall be in the form of Exhibit G (each a “Letter of Credit Request”).

  • Transfer of Letter of Credit The Letter of Credit may be transferred and assigned in accordance with the terms of the Letter of Credit.

  • Letter of Credit Compliance Notwithstanding any other provision of this Agreement, the Servicer shall comply with all the requirements of any Letter of Credit so as to assure the full benefit of such Letter of Credit to the Trustee.

  • Request for Incurrence of Letter of Credit Obligations Borrower shall give Agent at least 2 Business Days' prior written notice requesting the incurrence of any Letter of Credit Obligation. The notice shall be accompanied by the form of the Letter of Credit (which shall be acceptable to the L/C Issuer) and a completed Application for Standby Letter of Credit or Application and Documentary Letter of Credit or Application for Documentary Letter of Credit (as applicable). Notwithstanding anything contained herein to the contrary, Letter of Credit applications by Borrower and approvals by Agent and the L/C Issuer may be made and transmitted pursuant to electronic codes and security measures mutually agreed upon and established by and among Borrower, Agent and the L/C Issuer.

  • Notice of Borrowing; Letter of Credit Request (a) Prior to the making of each Loan (other than a Swingline Loan or a Revolving Loan made pursuant to a Mandatory Borrowing), the Administrative Agent shall have received a Notice of Borrowing meeting the requirements of Section 2.03(a). Prior to the making of each Swingline Loan, the Swingline Lender shall have received the notice referred to in Section 2.03(b)(i).

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