Common use of Transfer of Letter of Credit Clause in Contracts

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%).

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter of one percent (1/4%)reimburse Landlord for any such transfer or processing fees within ten days after Landlord’s written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including a successor owner of the Premises and/or Landlord's Mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's transfer and processing fees (but only to the extent the same exceeds $625.00) in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter of one percent (1/4%)reimburse Landlord for any such transfer or processing fees within ten days after Landlord's written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's ’s Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter of one percent (1/4%)reimburse Landlord for any such transfer or processing fees within ten days after Landlord’s written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, upon notice to Tenant, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's Landlord’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Landlord shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit and, if Tenant advances any such fees (without having any obligation to do so), Landlord shall be capped at one-quarter of one percent (1/4%)reimburse Tenant for any such transfer or processing fees within ten days after Tenant’s written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefortherefor provided that the transferee assumes such liability. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter reimburse Landlord for any such transfer or processing fees within ten days after receipt of one percent (1/4%)Landlord’s written request therefor.

Transfer of Letter of Credit. Landlord The Letter of Credit shall also provide that Landlord, its successors and assigns, may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all (one or any portion of more times) its interest in and to the Letter of Credit to another party, person or entity, including regardless of whether or not such transfer is separate from or as a part of the assignment by Landlord of its rights and interests in and to this Lease. In the event of a transfer of Landlord's Mortgagee and/or to have ’s interest in the Building, Landlord shall transfer the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part Credit, to the transferee, transferee and thereupon Landlord shall, without any further agreement between the parties heretoparties, thereupon be released by Tenant from all liability therefor. The , and it is agreed that the provisions hereof shall apply to every transfer or assignment of all or any part of the said Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit Bank such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's , and Landlord shall be responsible for paying the Bank’s transfer and processing fees in connection therewith up to a maximum per-transfer cost of $1,000, with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)excess being payable by Tenant.

Transfer of Letter of Credit. Landlord The Letter of Credit shall also provide that Landlord, its successors and assigns, may, at any time and without with notice to Tenant and (no notice will be required if such notice would be prohibited by the automatic stay in bankruptcy) but without first obtaining Tenant's ’s consent theretothereto and at no cost to Tenant, transfer (one or more times) all or any portion of its interest in and to the Letter of Credit to another party, person person, or entityentity in connection with a sale, including foreclosure, transfer, or financing of Landlord's Mortgagee and/or ’s interest in the Property; provided, however, if such transfer of Landlord’s interest in and to have the Letter of Credit reissued is made in connection with a financing, such transfer may be made separate from or as a part of the name assignment by Landlord of its rights and interests in and to the Lease. In the event of a transfer of Landlord's Mortgagee. If Landlord transfers its ’s interest in the Building and transfers Property, Landlord shall transfer the Letter of Credit (or any proceeds thereof then held by Landlord) Credit, in whole or in part whole, to the transferee, transferee and thereupon Landlord shall, without any further agreement between the parties heretoparties, thereupon be released by Tenant from all liability therefor. The , and it is agreed that the provisions hereof shall apply to every transfer or assignment of all or any part of the said Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit Bank such applications, documents documents, and instruments as may be necessary to effectuate such transfer. The issuer's , and Landlord shall be responsible for paying the Bank’s transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)therewith.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entityentity to which it transfers Landlord’s interest in the Building, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's ’s Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be reasonably necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter of one percent (1/4%)reimburse Landlord for any such transfer or processing fees within 20 days after Landlord’s written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's consent thereto, transfer all or any portion of its interest in and all or a portion of the Buildings and, in connection therewith, to the Letter of Credit Credit, to another party, person or entity, including Landlord's Mortgagee mortgagee, if any, and/or to have the Letter of Credit reissued in the name of Landlord's Mortgageemortgagee, if any. If Landlord transfers its interest in the Building Buildings and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's transfer and processing fees in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter of one percent (1/4%)reimburse Landlord for any such transfer or processing fees within 10 days after Landlord's written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including any transferee of Landlord's Mortgagee ’s interest in the Building and/or Landlord’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expenseexpense (except as provided below), execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be reasonably necessary to effectuate such transfer. The Notwithstanding the foregoing, Landlord shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)Credit.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgageemortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transfereetransferee and the transferee assumes all of Landlord's obligations under the Lease, then Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every such transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at TenantLandlord's sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Landlord shall be responsible for paying the issuer's transfer and processing fees in connection with any transfer of the Letter of Credit and, if Tenant advances any such fees (without having any obligation to do so), Landlord shall be capped at one-quarter of one percent (1/4%)reimburse Tenant for any such transfer or processing fees within 10 days after Tenant's written request therefor.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit and, if Landlord advances any such fees (without having any obligation to do so), Tenant shall be capped at one-quarter of one percent reimburse Landlord for any such transfer or processing fees within thirty (1/4%)30) days after Landlord’s written request therefor.