Reduction Increment definition
Reduction Increment means an amount equal to the lesser of (1) thirty-five percent (35.00%) of the amount of the LOC as required in Paragraph 5(f) hereof or (2) the excess of the then amount of the LOC over the Reduction Limit.
Reduction Increment means an amount equal to the lesser of (a) fifteen percent (15.00%) of the initial amount of the Security Deposit or (b) the excess of the then amount of the Security Deposit over the Reduction Limit.
Reduction Increment means an amount equal to twenty-five percent (25%) of the initial amount of the Letter of Credit. The term “Reduction Limit” shall mean an amount equal to no less than twenty-five percent (25%) of the amount of the Letter of Credit required on the Lease Date.