Tenant Letter of Credit definition

Tenant Letter of Credit means any letter of credit provided to Borrower, as landlord, by a tenant under a Lease as security for, or payment of, any tenant obligations under such Lease.
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Tenant Letter of Credit means each Letter of Credit delivered by a Tenant to Borrower or its predecessor in interest as security for such Tenant’s obligations under its Lease.
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Tenant Letter of Credit has the meaning ascribed to such term in Section 7.24(c).
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Examples of Tenant Letter of Credit in a sentence

  • Additionally, if any other event has occurred pursuant to which a tenant’s security deposit (including any interest thereon) or Tenant Letter of Credit (or any portion thereof) is required to be returned to a tenant, whether pursuant to its Lease (or other agreement with such tenant covering the same) or by operation of law, Administrative Agent agrees to timely do so whether or not a Default then exists.

  • Borrower’s obligation to deposit and hold with Administrative Agent any security deposit (including the proceeds of any draw on a Tenant Letter of Credit), and any interest thereof, shall be subject to Applicable Law with respect to Tenant security deposits.

  • Pursuant to such assignment of proceeds, all draws under applicable Tenant Letters of Credit shall be deposited (upon payment by the applicable issuing bank with respect to such Tenant Letter of Credit) by Administrative Agent into the Security Deposit Account.

  • Immediately following any partial draw by Borrower under a Tenant Letter of Credit held by Administrative Agent hereunder, the Borrower shall return (or cause to be returned) the original Tenant Letter of Credit to Lender to be held by Administrative Agent in accordance with this Section 9.11.

  • Borrower shall not allow any Tenant Letters of Credit to lapse unless permitted pursuant to the applicable Lease and Borrower shall draw down the proceeds of any Tenant Letter of Credit (to the extent permitted under any applicable Lease) prior to the expiration date thereof.

  • Properties more than two hundred fifty (250) feet in depth (if residential property is abutting the rear yard) or in width (if residential property is abutting the side yard) shall provide two rows of trees.

  • Landlord hereby approves Comerica as the issuing bank if selected by Tenant to issue the Tenant Letter of Credit.

  • Upon the occurrence and during the continuance of an Event of Default, Lender shall be permitted to implement any or all of the Required LC Actions as Lender determines are necessary or desirable to confirm, maintain, perfect or otherwise implement Lender’s rights and security interests in and to the applicable Tenant Letter of Credit and the proceeds thereof.

  • If Tenant does not replace the Tenant Letter of Credit with a new letter of credit from a bank or financial institution acceptable to Landlord within such ten (10) business day period, then notwithstanding anything in the Lease to the contrary, Tenant shall be in default, and Landlord shall have the right to draw upon the Tenant Letter of Credit for the full amount of the Tenant Letter of Credit (“LC Funds”).

  • The written agreement must be executed prior to commencement of supervision, in which the supervisor agrees and must contain an agreement by the supervisor to ensure that the extent, kind, and quality of counseling performed by the internsupervisee is consistent with the intern’ssupervisee’s training, education, and experience, and is appropriate in extent, kind, and quality.


More Definitions of Tenant Letter of Credit

Tenant Letter of Credit shall have the meaning set forth in Section 9.10(a).
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Tenant Letter of Credit means a letter of credit from a Tenant for the benefit of Borrower as security for such Tenant’s obligations under its Lease (even if such letter of credit is expressly stated in the applicable Lease to not be a “security deposit” within the meaning of, or subject to, California Civil Code Section 1950.7), including, without limitation, that certain Irrevocable Standby Letter of Credit number 3129471, dated November 14, 2013, in an amount not to exceed $12,000,000.00, issued by Bank of America, N.A. on behalf of Riot Games Inc. for the benefit of Xxxxxx Element LA, LLC.
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Related to Tenant Letter of Credit

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

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

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

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

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

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

  • 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.

  • Performance Letter of Credit means any standby Letter of Credit which represents an irrevocable obligation to the beneficiary on the part of the Issuing Bank to make payment on account of any default by the account party in the performance of a nonfinancial or commercial obligation.

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

  • 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.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • 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 means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

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

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • 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 Borrowers' obligations 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 Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • 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.

  • 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.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Standard Letter of Credit Practice means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.