Common use of Replacement Security Clause in Contracts

Replacement Security. At any time during the term hereof, Tenant may replace any Security Deposit and/or letter(s) of credit posted hereunder with new letter(s) of credit, a cash Security Deposit or a combination thereof (“Replacement Security”) so long as (i) any letters of credit comply with the requirements of Section 6d above, and (ii) the aggregate amount of all letters of credit, plus the amount of any cash Security Deposit, held by Landlord equals the amount of Security Deposit required by Section lg hereof. Upon the delivery of any Replacement Security to Landlord, Landlord shall release and deliver to Tenant the Security Deposit and/or letters of credit that are being replaced.

Replacement Security. At any time during the term hereof, Tenant may replace any Security Deposit and/or letter(s) of credit posted hereunder with new letter(s) of credit, a cash Security Deposit or a combination thereof (“"Replacement Security”") so long as (i) any letters of credit comply with the requirements of Section 6d above, and (ii) the aggregate amount of all letters of credit, plus the amount of any cash Security Deposit, held by Landlord equals the amount of Security Deposit required by Section lg 1g hereof. Upon the delivery of any Replacement Security to Landlord, Landlord shall release and deliver to Tenant the Security Deposit and/or letters of credit that are being replaced.