L-C Amount. The initial L-C Amount shall be equal to the amount set forth in Section 10 of the Summary.
L-C Amount. Maintenance of L-C by Tenant. If, as a result of any drawing by Landlord of all or any portion of the L-C, the amount of the L-C shall be less than the L-C Amount, Tenant shall, within five (5) days thereafter, provide Landlord with additional letter(s) of credit in an amount equal to the deficiency, and any such additional letter(s) of credit shall comply with all of the provisions of this Article 21. Tenant further covenants and warrants that it will neither assign nor encumber the L-C or any part thereof and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. Without limiting the generality of the foregoing, if the L-C expires earlier than the L-C Expiration Date, Landlord will accept a renewal thereof (such renewal letter of credit to be in effect and delivered to Landlord, as applicable, not later than thirty (30) days prior to the expiration of the L-C), which shall be irrevocable and automatically renewable as above provided through the L-C Expiration Date upon the same terms as the expiring L-C or such other terms as may be acceptable to Landlord in its sole discretion. However, if the L-C is not timely renewed, or if Tenant fails to maintain the L-C in the amount and in accordance with the terms set forth in this Article 21, Landlord shall have the right to either present the L-C to the Bank in accordance with the terms of this Article 21, and the proceeds of the L-C may be applied by Landlord against any Rent payable by Tenant under this Lease that is not paid when due and/or to pay for all losses and damages that Landlord has suffered or that Landlord reasonably estimates that it will suffer as a result of any breach or default by Tenant under this Lease. In the event Landlord elects to exercise its rights under the foregoing, (I) any unused proceeds shall constitute the property of Landlord (and not Tenant’s property or, in the event of a receivership, conservatorship, or a bankruptcy filing by Tenant, property of such receivership, conservatorship or Tenant’s bankruptcy estate) and need not be segregated from Landlord’s other assets, and (II) Landlord agrees to pay to Tenant within thirty (30) days after the L-C Expiration Date the amount of any proceeds of the L-C received by Landlord and not applied against any Rent payable by Tenant under this Lease that was not paid when due or used to pay for any losses and/or damages suffered by Landlord (or...
L-C Amount. Landlord and Tenant hereby acknowledge and agree that Section 21.3.1 of the Office Lease and Section 8 of the Summary of Basic Lease Information are hereby deleted and replaced with “One Million Six Hundred Sixteen Thousand and 00/100 Dollars ($1,616,000.00) plus the “Additional L-C Amount” (as defined in Section 2.3 of the Work Letter), if applicable.”
L-C Amount. The initial L-C Amount shall be equal to the amount set forth in Section 13 of the Summary. Notwithstanding anything to the contrary set forth in this Article 30, if additional space is added to the Premises after the date hereof (other than the Must-Take Premises), then the L-C Amount provided for in Section 13 of the Summary shall, effective as of the commencement date of Tenant’s lease of the subject additional space, be increased so that, based on the new total rentable square footage of the Premises (with the additional space added thereto) the L-C Amount is the same amount per rentable square foot of the Premises that was in effect on the date immediately prior to the date the subject additional space was added to the Premises.
L-C Amount. The L-C Amount shall be equal to the amount set forth in Section 8 of the Summary, and is subject to reduction pursuant to the terms of Section 21.9 below.
L-C Amount. The initial L-C Amount shall be equal to the amount set forth in Section 14 of the Basic Lease Information.
L-C Amount. The L-C Amount shall be equal to the amount set forth in Section 10 of the Summary. The L-C Amount shall, at any and all times during the Lease Term (including any Option Term), be equal to Six Hundred Twenty-Six Thousand Five Hundred Nine and 60/100 Dollars ($626,509.60).
