Examples of Additional Letter of Credit in a sentence
Upon any such application of Security Proceeds by Landlord, Tenant shall, within 30 days of written demand therefor, deliver to Landlord an Additional Letter of Credit in the amount of Security Proceeds so applied.
Each Additional Letter of Credit shall expire at or prior to the close of business on the date one (1) year after the date of the issuance of such Additional Letter of Credit (or, in the case of any renewal or extension thereof, one (1) year after such renewal or extension).
Immediately upon the delivery of the Additional Letter of Credit to Sellers, Citadel and DBC of Tennessee shall execute and deliver a joint notice to the Escrow Agent instructing the Escrow Agent to release the entire Escrow Amount to Citadel.
By the issuance of an Additional Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the relevant Fronting Bank or the Lenders, the relevant Fronting Bank hereby grants to each Lender, and each Lender hereby acquires from such Fronting Bank, a participation in such Letter of Credit equal to such Xxxxxx’s Revolving Percentage of the aggregate amount available to be drawn under such Letter of Credit.
If requested by the relevant Fronting Bank, the Borrowers also shall submit a letter of credit application in a form reasonably acceptable to the relevant Fronting Bank in connection with any request for an Additional Letter of Credit.