Security Deposit Letter of Credit definition

Security Deposit Letter of Credit. (Article 2) Tenant shall provide a Letter of Credit equal to three (3) months of the initial Base Rent at Closing.
Sample 1Sample 2
Security Deposit Letter of Credit means the Letter of Credit described in Section 32 of the Agreement Regarding Leases.
Sample 1
Security Deposit Letter of Credit shall have the meaning set forth in the Basic Lease information.
Sample 1

Examples of Security Deposit Letter of Credit in a sentence

  • The Security Deposit Letter of Credit shall provide that it may be drawn against, in whole or in part, in accordance with the procedures of this Article 30 by presentation to the Issuer of a sight draft, with no other requirements as a condition of drawing on the Security Deposit Letter of Credit.

  • At any time that Landlord is holding proceeds of the Security Deposit Letter of Credit pursuant to this Article 36, Tenant may deposit a Security Deposit Letter of Credit that complies with all requirements of this Article 36, in which event Landlord shall return the Security Deposit to Tenant within ten (10) days after receipt of the Security Deposit Letter of Credit.

  • No condition or term of this Lease shall be deemed to render the Security Deposit Letter of Credit conditional to justify the issuer of the Security Deposit Letter of Credit in failing to honor a drawing upon such Security Deposit Letter of Credit in a timely manner.

  • The amount of change in the face amount of the Security Deposit Letter of Credit will be as indicated in this Article 30.

  • One hundred and twenty (120) Days prior to the expiration date of the Security Deposit Letter of Credit, Lessee shall provide County with reasonable evidence that Lessee has renewed the Security Deposit Letter of Credit for a period of no less than one (1) year from its then current expiration date in the amount required herein.

  • The Security Deposit Letter of Credit shall be deemed a parent guarantee.

  • Tenant hereby acknowledges and agrees that Landlord is entering into this Lease in material reliance upon the ability of Landlord to draw upon the Security Deposit Letter of Credit upon the occurrence of any Event of Default on the part of Tenant under this Lease.

  • The Security Deposit Letter of Credit shall also be governed by the provisions of Exhibit Q of this Lease.

  • Any proceeds drawn under the Security Deposit Letter of Credit and not applied as set forth above shall be held by Landlord as a security deposit (the "Security Deposit").

  • If Landlord uses or applies all or any portion of the Security Deposit as provided above, Tenant shall within ten (10) business days after demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the then-applicable Security Deposit Letter of Credit Amount or provide a replacement letter of credit meeting the requirements of this Article 36, and Tenant's failure to do so shall, at Landlord's option, be an Event of Default under this Lease.


More Definitions of Security Deposit Letter of Credit

Security Deposit Letter of Credit. $560,234.61, subject to reduction as set forth in Section 7 hereof. Allowances: $338,715.00 EXHIBIT 1 LEASE PLAN EXHIBIT 1-1 PH SYSTEM PREMISES PLAN EXHIBIT 1-2 MATTERS OF RECORD EXHIBIT 2 LEGAL DESCRIPTION EXHIBIT 3 TENANT’S WORK EXHIBIT 4 INTENTIONALLY OMITTED EXHIBIT 5 FORM OF LETTER OF CREDIT EXHIBIT 6 INTENTIONALLY OMITTED EXHIBIT 7 TENANT’S HAZARDOUS MATERIALS EXHIBIT 8 RULES AND REGULATIONS EXHIBIT 9 TENANT WORK INSURANCE SCHEDULE EXHIBIT 10 GENERATOR AREA EXHIBIT 11 FORM OF SNDA EXHIBIT 12 FORM OF GUARANTY EXECUTION VERSION
Sample 1
Security Deposit Letter of Credit has the meaning given to that term in Clause 5.3.3.
Sample 1
Security Deposit Letter of Credit means the Security Deposit Letter of Credit as defined in Paragraph 4.
Sample 1
Security Deposit Letter of Credit. (Article 2) Tenant shall provide a Letter of Credit equal to the sum of (a) ten (10) months of the initial Base Rent, plus (b) $6,458,200, subject to adjustment as provided in Section 2.5.1. The amount referenced in clause (b) above is referred to as the “Day 2 Improvements Security”.
Sample 1

Related to Security Deposit Letter of Credit

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit Series Collections into the 20[•]-[•] Series Collection Account by the related Deposit Date.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Security Deposits shall have the meaning set forth in Section 5.1.17(e) hereof.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Letter of Credit Collateral has the meaning specified in Section 6.02(b).

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.