Partial Return of Security Sample Clauses

Partial Return of Security. A. Owner has agreed that Owner shall return to Tenant the sum of ONE HUNDRED THIRTY-THREE THOUSAND SEVENTY-THREE and 00/100 DOLLARS ($133,073.00) of such security reasonably promptly following the date (referred to as the “Partial Return Date”) which is the third (3rd) anniversary of the Rent Commencement Date, provided Tenant is not then in default under any of the terms, covenants or conditions of this Lease on Tenant’s part to be observed and performed. Accordingly, if on the Partial Return Date Tenant shall not so be in default, Tenant may replace the Letter of Credit with a Letter of Credit in a sum reduced by ONE HUNDRED THIRTY-THREE THOUSAND SEVENTY-THREE and 00/100 DOLLARS ($133,073.00). In the event that at any time Tenant shall be entitled to reduce such Letter of Credit as provided in the foregoing provisions of this Article the security shall be held as Cash Security then, in lieu of Tenant replacing any such Letter of Credit, Owner shall return sums to Tenant equal to the amount by which the Letter of Credit would have been reduced if it were in existence; however, in no event shall the Letter of Credit or Cash Security ever be reduced below the sum of THREE HUNDRED NINETY-NINE THOUSAND TWO HUNDRED SEVENTEEN and 00/100 DOLLARS ($399,217.00). The sum of FIVE HUNDRED THIRTY-TWO THOUSAND TWO HUNDRED NINETY and 00/100 DOLLARS ($532,290.00) referred to in the previous Sections of this Article shall be deemed reduced as the provisions of this Section 35.08 shall operate to so reduce the Letter of Credit and/or Cash Security, as the case may be. 
Sample 1
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Partial Return of Security. The term "Partial Return Date" shall mean the 10 Year Surrender Date and each subsequent yearly anniversary thereof occurring during the Demised Term. Owner has agreed that Owner shall return to Tenant the sum of DOLLARS of such security on each Partial Return Date, provided on the applicable Partial Return Date, Tenant is not then in default under any of the terms, covenants or conditions of this Lease on Tenant's part to be observed beyond the applicable grace periods provided in this Lease (if Tenant is so in default and thereafter cures such default, Owner shall then return to Tenant the sum of money scheduled to have been returned in the immediately preceding Partial Return Date). Accordingly, if on the applicable Partial Return Date Tenant shall not so be in default, Tenant may replace the Letter of Credit with a Letter of Credit in a sum reduced by the applicable sum of DOLLARS. In the event that at any time Tenant shall be entitled to reduce such Letter of Credit as provided in the foregoing provisions of this Article, the security shall be held as Cash Security, then, in lieu of Tenant replacing any such Letter of Credit, Owner shall return sums to Tenant equal to the amount by which the Letter of Credit would have been reduced if it were in existence. The sum of DOLLARS referred to in the previous Sections of this 167 Article shall be deemed reduced as the provisions of this Section 51.08 shall operate to so reduce the Letter of Credit and/or Cash Security, as the case may be. Notwithstanding anything to the contrary contained in this Section 51.08, to the extent required by a Mortgage given in connection with construction financing or an initial permanent loan affecting the Real Property the schedule of reductions in the Letter of Credit shall be subject to the reduction schedule in such above-mentioned financing provided that such schedule shall not be more restrictive to Tenant than the following schedule: On the 15th anniversary of the later of (x) the Commencement Date or (y) the date upon which Tenant's obligation for the payment of rent commences and on each succeeding anniversary thereof the security shall be reduced by a sum equal to the aggregate of one (1) year's Fixed Rent and increases therein pursuant to Article 23.
Sample 1
Partial Return of Security. Owner has agreed that Owner shall return to Tenant the sum of FIFTY-TWO THOUSAND TWO HUNDRED THIRTY-NINE AND 00/100 ($52,239.00) DOLLARS of such security reasonably promptly following the second (2nd) anniversary of the commencement of the Second Rent Period (referred to as the “Partial Return Date”), provided Tenant is not then in default under any of the terms, covenants or conditions of this Lease on Tenant’s part to be observed and performed. Accordingly, if on the Partial Return Date Tenant shall not so be in default, Tenant may replace the Letter of Credit with a Letter of Credit in a sum reduced by FIFTY-TWO THOUSAND TWO HUNDRED THIRTY-NINE AND 00/100 ($52,239.00)
Sample 1

Related to Partial Return of Security

  • Return of Security Deposit If Tenant shall perform all of its respective covenants and agreements in the Lease, the Security Deposit, or the portion thereof not previously applied pursuant to the provisions of the Lease, together with a statement, shall be returned to Tenant without interest, no later than sixty (60) days after the expiration of the Term, or any renewal or extension thereof (or such earlier time if required by applicable law), provided Tenant has vacated the Premises and surrendered possession thereof to Landlord.

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Collateral Documents that presently secure the Obligations shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Obligations as described in the Original Credit Agreement as modified by this Amendment.

  • Creation of Security (a) Any Security is created or subsists over the shares in the Ultimate Parent; or

  • Protection of Security Each Grantor shall, at its own cost and expense, take any and all actions necessary to defend title to the Collateral against all persons and to defend the Security Interest of the Collateral Agent in the Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement.

  • Valuation of Securities Securities shall be valued in accordance with (a) the Fund's Registration Statement, as amended or supplemented from time to time (hereinafter referred to as the "Registration Statement"); (b) the resolutions of the Board of Trustees of the Fund at the time in force and applicable, as they may from time to time be delivered to FUND ACCOUNTING, and (c) Proper Instructions from such officers of the Fund or other persons as are from time to time authorized by the Board of Trustees of the Fund to give instructions with respect to computation and determination of the net asset value. FUND ACCOUNTING may use one or more external pricing services, including broker-dealers, provided that an appropriate officer of the Fund shall have approved such use in advance.

  • Acceleration of Securities If payment of the Securities is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Debt of the acceleration.

  • Repayment of Securities Securities of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in the terms of such Securities, be repaid at a price equal to the principal amount thereof, together with interest (if any) thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Company covenants that, with respect to such Securities, on or before the Repayment Date it will deposit with a Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient to pay the principal (or, if so provided by the terms of the Securities of any series, a percentage of the principal) of and (except if the Repayment Date shall be an Interest Payment Date) accrued interest (if any) on, all the Securities or portions thereof, as the case may be, to be repaid on such date.

  • Payment of Securities 30 SECTION 4.02.

  • Grant of Security Each Grantor hereby grants to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in such Grantor’s right, title and interest in and to the following, in each case, as to each type of property described below, whether now owned or hereafter acquired by such Grantor, wherever located, and whether now or hereafter existing or arising (collectively, the “Collateral”):

  • Perfection of Security The Borrower must (at its own cost) take any action and enter into and deliver any document which is required by the Lender so that a Security Document provides for effective and perfected security in favor of any successor of the Lender, including (but not limited to), promptly after the date hereof:

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