Examples of LC Face Amount in a sentence
In such event and upon written notice from Landlord to Tenant specifying the amount of the Letter of Credit Proceeds so utilized by Landlord and the particular purpose for which such amount was applied, Tenant shall immediately deliver to Landlord an amendment to the Letter of Credit or a replacement Letter of Credit in an amount equal to the full LC Face Amount.
The LC Fee shall accrue from the Effective Date to the date the Letter of Credit is surrendered for cancellation and shall, for each day, be equal to 10% per annum on the undrawn LC Face Amount on such day.
In such event and upon written notice from Lessor to Lessee specifying the amount of the Letter of Credit Proceeds so utilized by Lessor and the particular purpose for which such amount was applied, Lessee shall promptly deliver to Lessor an amendment to the Letter of Credit or a replacement Letter of Credit in an amount equal to the LC Face Amount or Augmented LC Amount then required to be maintained hereunder.
The initial outstanding principal amount of this Note shall equal the Series 2021-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount.
In any such event and upon written notice from Landlord to Tenant specifying the amount of the Letter of Credit Proceeds so utilized by Landlord and the particular purpose for which such amount was applied, Tenant shall immediately deliver to Landlord an amendment to the Letter of Credit or a replacement Letter of Credit in an amount equal to the full LC Face Amount.
Tenant shall have the right from time to time to reduce the amount of the Security Deposit on the terms and subject to the conditions set forth in Section 5.13 above for the reduction of the LC Face Amount.
Tenant shall thereafter cause the Bank (as defined below) to increase the LC Face Amount to the sum of Four Million Dollars ($4,000,000.00) on or before the Base Building Improvements Construction Commencement Date, and to the sum of Six Million Three Hundred Thousand Dollars ($6,300,000.00) on or before the Tenant Improvements Construction Commencement Date.
The initial outstanding principal amount of this Note shall equal the Series 2011-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount.
Notwithstanding anything herein to the contrary, upon the occurrence of an Early Draw Event pursuant to the terms of the Letter of Credit, the Collateral Agent shall be entitled to make a draw under the Letter of Credit in an amount equal to the full amount of the L/C Face Amount in effect at such time.
In such event and upon written notice from Landlord to Tenant specifying the amount of the Letter of Credit Proceeds so utilized by Landlord and the particular purpose for which such amount was applied, Tenant shall immediately deliver to Landlord an amendment to the Letter of Credit or a replacement Letter of Credit so that the Letter of Credit is again in the full LC Face Amount.