Form of Letter of Credit. The Letter of Credit shall: (i) be issued by (and at all times be drawable upon) a federally insured national bank approved by Landlord in writing in its reasonable discretion (and Landlord hereby approves of Xxxxx Fargo); (ii) be an irrevocable and unconditional standby Letter of Credit issued in the full amount of the required LOC Amount; (iii) be issued in the name of Landlord as beneficiary; (iv) have an initial term commencing on the date of issuance and ending no earlier than September 30, 2012; (v) state on its face that, notwithstanding the stated expiration date, the term of the Letter of Credit shall be automatically renewed for successive, additional one (1) year periods unless, at least sixty (60) days prior to any such date of expiration, the issuing bank shall have given written notice to Landlord, by certified mail, return receipt requested that the Letter of Credit will not be renewed; (vi) have a final expiration date of not less than sixty (60) days after the Expiration Date (as such may be adjusted for renewals and extensions); (vii) expressly provide that Landlord (and/or its successors and assigns) is entitled to make one or more draws under the Letter of Credit upon delivery to issuer of a sight draft (a “Draft”) in a banking office of issuer in Palo Alto, California (or such other location as is approved by Landlord in writing) and signed by a purported officer or authorized agent or representative of Landlord and certifying to the issuer that a Draw Event (hereinafter defined) has occurred and that Landlord is entitled to draw upon the Letter of Credit in the amount of the draft submitted therewith; (viii) allow partial draws by Landlord at its discretion from time to time subject to the other provisions of this Section 2; (ix) provide that the Letter of Credit will be honored by the issuing bank without inquiry as to the accuracy of the Draft or the authority of any person or party executing same and regardless of whether Tenant disputes the content of the Draft or the authority of any person or party executing same; (x) specifically provide that it may be transferred by Landlord, without cost to Landlord, to a subsequent owner of the Project (including a foreclosing mortgage lender) by written notice by the transferring Landlord/beneficiary to the issuer, at which time the issuer of the Letter of Credit must be obligated to issue a new Letter of Credit on the identical terms to the transferee (naming the transferee as beneficiary)...
Form of Letter of Credit. Concurrently with Tenant's execution and delivery of this Lease, Tenant shall deliver to Landlord an unconditional, irrevocable, standby letter of credit (the "Letter of Credit") with an expiration date no earlier than twelve (12) months from the date of issuance in the amount of Ninety Eight Thousand Three Hundred Ninety Four and No/100 Dollars ($98,394.00). The Letter of Credit shall be in the same form as Exhibit K attached hereto. The Letter of Credit shall secure the full and faithful performance of each provision of this Lease to be performed by Tenant. The Letter of Credit shall be issued by a money-center bank, or another financial institution acceptable to Landlord in its sole discretion. The Letter of Credit must be presentable in San Francisco, California. If Tenant fails to pay Rent or otherwise defaults with respect to any provision of this Lease and fails to cure any such default within any applicable notice and cure period provided in this Lease, then Landlord may execute one or more drafts on the Letter of Credit for the payment of any Rent, or for the payment of any other sum for which Landlord may become obligated by reason of Tenant's default, or for any payment to which Landlord may become entitled by reason of Tenant's default, or for payment to Landlord for any loss or damage which Landlord may suffer thereby. The Letter of Credit shall contain language allowing Landlord to draw upon the Letter of Credit upon presentation to the issuer of the Letter of Credit of Landlord's written statement that Landlord is entitled to the funds represented by such Letter of Credit in accordance with the terms hereof. If Landlord so uses or applies all or any portion of the amount represented by the Letter of Credit, then Tenant shall, within ten (10) days after written demand therefor, at Landlord's sole option, (i) deposit cash with Landlord in lieu of the Letter of Credit in the amount drawn, or (ii) deliver a replacement letter of credit in the amount drawn so that the total amounts represented by the Letter of Credit and the replacement letter of credit equals Ninety Eight Thousand Three Hundred Ninety Four and No/100 Dollars ($98,394.00), and Tenant's failure to do so shall be an Event of Default
Form of Letter of Credit. To: Storengy UK Limited Stublach Site Xxxx Xxxxxx Xxxxxxxxx Xxxxxxxx XX0 0XX (the Beneficiary) [INSERT DATE] Dear Sirs, Irrevocable Standby Letter of Credit No: [insert number of LoC] At the request of [Insert company name] a company registered in [Insert country] with number [Insert registration number] whose registered office is at [Insert address]), [Insert name of Issuing Bank], (the Issuing Bank) issues this irrevocable standby letter of credit (Letter of Credit) in your favour on the following terms and conditions:
Form of Letter of Credit. Each Letter of Credit to be issued hereunder shall:
Form of Letter of Credit. Concurrent with the execution of this Lease, ------------------------ Tenant shall deliver to Landlord an irrevocable, unconditional standby letter of credit in the original face amount of Six Hundred Twenty-Five Thousand Dollars ($625,000) in the form attached hereto as Exhibit C (the "Letter of Credit") to --------- secure the full and faithful performance of each and every term and provision of this Lease to be performed by Tenant as set forth in Section 4.1 above. The Letter of Credit shall be issued by a bank or financial institution ("Issuing Bank") which is acceptable to Landlord and which accepts deposits, maintains accounts, is FDIC insured and has a local Mountain View or San Francisco office which will negotiate the Letter of Credit. The Letter of Credit shall permit full or partial draws by Landlord or Landlord's assignee. Tenant shall pay all expenses, points or fees incurred by Tenant in obtaining, maintaining and renewing the Letter of Credit. As provided in Section 4.1 above, Tenant shall cause the Letter of Credit to remain in full force and effect during the entire term of this Lease and for a period of sixty (60) days following the expiration or earlier termination of this Lease (except in the case of termination of this Lease solely by reason of Landlord's material default hereunder). Provided this Lease has not expired or terminated, Tenant shall replace or renew the Letter of Credit from time to time at least thirty (30) days before its stated expiration date. Failure to so replace or renew the Letter of Credit shall constitute a default hereunder and Landlord shall thereafter be entitled to draw the full amount of the Letter of Credit and hold it as a cash security deposit. The terms of the Letter of Credit shall expressly provide that the Letter of Credit is assignable by Landlord, as beneficiary thereunder, to any transferee or assignee of Landlord's interest in the Premises who expressly assumes in writing Landlord's obligations under this Lease.
Form of Letter of Credit. [On letterhead or L/C letterhead of Issuer.] LETTER OF CREDIT Date: , 200 (the “Beneficiary”) Attention: L/C. No.: Loan No. : Ladies and Gentlemen:
Form of Letter of Credit. IRREVOCABLE STANDBY LETTER OF CREDIT ------------------------------------ Date:___________________ ISSUING BANK CONFIRMING OUR CABLE OF TODAY _________________________ _________________________ Credit Number:_________________________ _________________________ Opener's Reference No.______________________ Dear Sir or Madam: BY ORDER OF: [SPC BUYER] _____________________________ _____________________________ We hereby open in favor of: P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V. ("PMI") MARINA NACIONAL NUM. 329 XXXXX XXXXXXXXX, XXXX 00 XXXXXX, X.X., XXXXXX our Irrevocable Standby Letter of Credit ("Letter of Credit") for the account of XXXXX REFINING & MARKETING, INC. ("Openers") for a sum of UP TO A MAXIMUM OF US DOLLARS _______________ (________ _______________ (AND NO/100 US DOLLARS) available by your draft(s) at SIGHT on [ISSUING OR ADVISING BANK] effective __________ and expiring, subject to force majeure as set forth below, at [NEW YORK, NEW YORK] [MEXICO CITY, MEXICO] on _____, ________ [62 DAYS] [42 DAYS IF A MEXICO BANK] AFTER LAST DAY OF THE AGREED LAYDAYS AS SHOWN ON THE AGREED LIFTING PROGRAM]. AVAILABLE BY BENEFICIARY'S DRAFTS DRAWN AT SIGHT ON [ISSUING OR ADVISING BANK] ACCOMPANIED BY THE FOLLOWING DOCUMENT: A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICER OF PMI STATING THAT (A) "ALTHOUGH THE INVOICE(S) PRESENTED UNDER THIS LETTER OF CREDIT WAS DUE ACCORDING TO CONTRACT TERMS, AND PMI PRESENTED NORMAL SHIPPING DOCUMENTS AS REQUESTED BY [BUYER] COVERING THE SHIPMENT OF MAYA CRUDE OIL, [BUYER] FAILED TO MAKE PAYMENT AS AND WHEN DUE, I.E., 30 (THIRTY) DAYS AFTER XXXX OF LADING DATE, PAYMENT REMAINS OUTSTANDING AT TIME OF DRAWING, AND FUNDS DRAWN UNDER THIS LETTER OF CREDIT WILL BE EXCLUSIVELY UTILIZED AS PAYMENT FOR THE ACCOMPANYING INVOICE(S)," AND (B) "THE AMOUNT BEING DRAWN HEREUNDER IS EQUAL TO THE AGGREGATE AMOUNT UNPAID OF INVOICES PAST DUE." SPECIAL CONDITIONS: PARTIAL AND MULTIPLE DRAWING IS AUTHORIZED. ALL BANKING CHARGES, INCLUDING NEGOTIATION, TELEX, ETC., ARE FOR THE ACCOUNT OF OPENERS.
Form of Letter of Credit. Subject to 4.6.5, within five (5) business days after the Effective Date, Sub-Subtenant shall deliver to Sub-Sublandlord, as security for the faithful performance of all Sub-Subtenant’s obligations under this Sub-Sublease, an irrevocable standby letter of credit (the “Letter of Credit”) in the amount of $315,570.81 for the account of Sub-Subtenant and for the benefit of Sub-Sublandlord, and issued by a bank reasonably acceptable to Sub-Sublandlord (the “Issuer”). On or before the Delivery Date for Suite 100, Sub-Subtenant shall replace the existing Letter of Credit or amend the existing Letter of Credit to be in the amount of $594,681.15 for the remainder of the Sub-Sublease Term, and Sub-Sublandlord shall return the prior Letter of Credit. Sub-Sublandlord approves of Silicon Valley Bank as the issuer of the Letter of Credit. The Letter of Credit shall be substantially in the form attached hereto as Exhibit D. Sub-Subtenant shall maintain the Letter of Credit in effect until sixty (60) days after the later of (x) the expiration of the Sub-Sublease Term or earlier termination of this Sub-Sublease, or (y) vacation of the Sub-Sublease Premises by Sub-Subtenant. If the Letter of Credit shall expire prior to said date, Sub-Subtenant shall renew the Letter of Credit prior to its expiration or arrange for issuance of a new Letter of Credit in accordance with the terms hereof. If Sub-Subtenant fails to give Sub-Sublandlord evidence of renewal of the Letter of Credit or issuance of a new Letter of Credit at least thirty (30) days prior to the expiration of the Letter of Credit then in effect, such failure shall not be a default hereunder, but Sub-Sublandlord shall be entitled to draw down the full amount of the Letter of Credit and the amount so drawn (“Draw Proceeds”), which shall be held and maintained by Sub-Sublandlord and may be applied in the same manner as set forth in Section 4.6.5 below with respect to a Security Deposit. The Letter of Credit shall be returned to Sub-Subtenant under the same terms as described for a Security Deposit in Section 4.6.5. Notwithstanding the foregoing, if Sub-Subtenant has elected to terminate the Sub-Sublease of Suite 200 as set forth in Section 2.2.5, Sub-Sublandlord shall return the Letter of Credit, if applicable, given for Suite 200 within five (5) business days of such termination, and the amount of the Letter of Credit to be provided at the Delivery Date for Suite 100 and required under this Sub-Sublease for the remainde...
Form of Letter of Credit. (Letterhead of a money center bank acceptable to the Landlord) FAX NO. [(__)_____-_____] [Insert Bank Name And Address] SWIFT: [Insert No., if any] DATE OF ISSUE: BENEFICIARY: APPLICANT: [Insert Beneficiary Name And Address] [Insert Applicant Name And Address] LETTER OF CREDIT NO. EXPIRATION ____________________ AT OUR COUNTERS DATE: AMOUNT AVAILABLE: USD[Insert Dollar Amount] (U.S. DOLLARS [Insert Dollar Amount]) LADIES AND GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. ___________ IN YOUR FAVOR FOR THE ACCOUNT OF [Insert Tenant’s Name], A [Insert Entity Type], UP TO THE AGGREGATE AMOUNT OF USD[Insert Dollar Amount] ([Insert Dollar Amount] U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING ON (Expiration Date) AVAILABLE BY PAYMENT UPON PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON [Insert Bank Name] WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENT(S):
Form of Letter of Credit. This Exhibit is attached to and made a part of the Lease by and between LOCON SAN MATEO, LLC, a Delaware limited liability company (“Landlord”) and WOODMAN LABS, INC., a California corporation (“Tenant”) for space in the Buildings located at 3000E and 0000X Xxxxxxxxx Xxx, Xxx Xxxxx, Xxxxxxxxxx. FORM OF LETTER OF CREDIT [Name of Financial Institution] Irrevocable Standby Letter of Credit No. Issuance Date: Expiration Date: Applicant: Beneficiary [Insert Name of Landlord] [Insert Building management office address] With copies of all notices to Beneficiary Also delivered to: [TO BE PROVIDED] Ladies/Gentlemen: We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account of the above referenced Applicant in the amount of U.S. Dollars ($ ) available for payment at sight by your draft drawn on us when accompanied by the following documents:
