Common use of Reduction of L-C Amount Clause in Contracts

Reduction of L-C Amount. To the extent that Tenant is not in default under this Lease (beyond the applicable notice and cure period set forth in this Lease), the L-C Amount shall be reduced as follows: Date of Reduction L-C Amount September 1, 2012 $ 135,000.00 September 1, 2013 $ 110,000.00 September 1, 2014 $ 85,000.00 September 1, 2015 $ 60,000.00 Notwithstanding anything to the contrary set forth in this Section 22.3.2, in no event shall the L-C Amount as set forth above decrease during any period in which Tenant is in default under this Lease (beyond any applicable notice and cure periods), but such decrease shall take place retroactively after such default is cured, provided that no such decrease shall thereafter take effect in the event this Lease is terminated early due to such default by Tenant.

Reduction of L-C Amount. To the extent that Tenant is not in default under this Lease (beyond the applicable notice and cure period set forth in this Lease), the L-C Amount shall be reduced as follows: Date of Reduction L-C Amount September 1, 2012 First day of the Option Term $ 135,000.00 September 1, 2013 $ 110,000.00 September 1, 2014 $ 85,000.00 September 1, 2015 $ 60,000.00 50,000.00 Notwithstanding anything to the contrary set forth in this Section 22.3.221.3.1.1, in no event shall the L-C Amount as set forth above decrease during any period in which Tenant is in default under this Lease (beyond any applicable notice and cure periods)Lease, but such decrease shall take place retroactively after such default is cured, provided that no such decrease shall thereafter take effect in the event this Lease is terminated early due to such default by Tenant.

Reduction of L-C Amount. To the extent that Tenant is not in default under this Lease (beyond the applicable notice and cure period set forth in this Lease), the L-C Amount shall be reduced as followsin accordance with the following table: Fourth (4th) anniversary of the Lease Commencement Date of Reduction L-C Amount September 1, 2012 $ 135,000.00 September 1, 2013 $ 110,000.00 September 1, 2014 $ 85,000.00 September 1, 2015 $ 60,000.00 $600,000.00 Notwithstanding anything to the contrary set forth in this Section 22.3.221.3.1.2, in no event shall the L-C Amount as set forth above decrease during any period in which Tenant is in default under this Lease (beyond any applicable notice and cure periods)Lease, but such decrease shall take place retroactively after such default is cured, provided that no such decrease shall thereafter take effect in the event this Lease is terminated early due to such default by Tenant.

Reduction of L-C Amount. To the extent Provided that Tenant is not in default under this Lease (beyond the applicable notice and cure period set forth in this Lease), (i) commencing on July 1, 2013, the L-C Amount shall be reduced as follows: Date of Reduction to $262,500.00 and (ii) commencing on July 1, 2014, the L-C Amount September 1, 2012 $ 135,000.00 September 1, 2013 $ 110,000.00 September 1, 2014 $ 85,000.00 September 1, 2015 $ 60,000.00 shall be reduced to $175,000.00. Notwithstanding anything to the contrary set forth in this Section 22.3.221.3.1.2, in no event shall the L-C Amount as set forth above decrease during any period in which Tenant is in default under this Lease (beyond any applicable notice and cure periods)Lease, but such decrease shall take place retroactively after such default is cured, provided that no such decrease shall thereafter take effect in the event this Lease is terminated early due to such default by Tenant.