TENANT SECURITY. The Market Rent shall additionally include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant's Rent obligations during the Option Term. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions from tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants).
TENANT SECURITY. The Market Rent shall additionally include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as an enhanced security deposit, a letter of credit or guaranty, for Tenant's Rent obligations during the Option Term. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions from tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants, and giving reasonable consideration to Tenant's prior performance history during the Lease Term).
TENANT SECURITY. The Market Rent shall additionally include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as an enhanced security deposit, a letter of credit or guaranty, for Tenant’s Rent obligations during the Option Term; provided, however, Tenant shall only be obligated to provide additional financial security to the extent Tenant’s then-existing financial condition is materially worse than those existing as of the date of this Lease. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions from tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants, and giving reasonable consideration to Tenant’s prior performance history during the Lease Term).
TENANT SECURITY. The Market Rent shall additionally include a determination as to whether, and if so to what extent, Tenant must provide (or continue to provide) Landlord with financial security, such as an enhanced security deposit, a letter of credit (such as the Letter of Credit) or guaranty, for Tenant’s Rent obligations during the Option Term. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions from tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants, and giving reasonable consideration to Tenant’s prior performance history during the Lease Term).
TENANT SECURITY. Borrower will not commingle any Tenant Security with any other assets of Borrower.
TENANT SECURITY. The Tenant shall provide in favor of the Landlord a Letter of Credit, in the amount of [***] (the “Tenant Security”); provided, that no such Tenant Security shall be required unless and until one hundred percent (100%) of the Rent Credit Amount has been applied in accordance with Section 4.1. Any Tenant Security provided pursuant to this Section 15.5 shall automatically expire on the earlier to occur of (i) FID and (ii) the fifth (5th) anniversary of the Ground Lease Commencement Date. The Landlord shall have the right to draw upon or make a claim against the Tenant Security upon the occurrence and continuation of an Event of Default resulting from the Tenant’s failure to make any payments owing under this Ground Lease, after the giving of any required notice hereunder and the expiration of any applicable cure period, including the cure periods set forth in Section 15.2, in each case, for an amount not to exceed the amount the non-payment of which gave rise to the Event of Default. All amounts drawn and actually paid under the Tenant Security shall be deemed applied to the applicable outstanding unpaid amount and upon such payment, if the amount paid is sufficient to satisfy in full the non-payment, the Event of Default giving rise to the Landlord’s right to make a claim against the Tenant Security shall be deemed to be cured. Any Letter of Credit posted by the Tenant as Tenant Security shall permit the Landlord to draw the entire amount available thereunder if such Letter of Credit is not renewed or replaced at least thirty (30) calendar days prior to its stated expiration date. The Tenant shall have the right, in its sole discretion, to replace the Tenant Security with the same form of the Tenant Security at any time.
TENANT SECURITY. The Landlord’s right to draw upon the Tenant Security pursuant to Section 15.5 shall not be limited by this Section 23.
TENANT SECURITY. Subject to Landlord’s approval of plans and specifications, such approval not to be unreasonably withheld, Tenant shall enact and provide security procedures and safeguards to provide for the safety and security of the Premises and its employees as follows:
(a) Install (or engage its own consultant or independent contractor to install) electronic access control and Closed Circuit Television surveillance systems, both into and within the Premises. Such electronic access control shall be provided at such level and specificity as determined by Tenant in its sole discretion, subject to Landlord’s approval, such approval not to be unreasonably withheld.
(b) Maintain and service any security systems put in place in accordance with such security procedures and safeguards.
(c) Provide authorized Landlord building services personnel with identification card access to the Premises to perform routine, after-hours and emergency maintenance services within the Premises.
(d) Maintain a reception area to the Premises to entry and departure of visitors, vendors and contractors into and from the Premises. Landlord shall disconnect and terminate any existing electronic access devices into and within the Premises prior to the Expansion Space Commencement Date, unless Tenant agrees in writing to extend such date.
TENANT SECURITY. Tenant shall provide Landlord with a new or amended L-C in an amount equal to Fifty Thousand and No/100 Dollars ($50,000.00) for Tenant’s Rent obligations during the Option Term pursuant, and subject, to the terms of Article 21 of the Lease.
TENANT SECURITY. The Owner agrees to have the locks changed between tenants at owner expense or install a keyless entry so locks may be easily changed in between tenants to offer the utmost security.
