Common use of Transfer of Letter of Credit Clause in Contracts

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including Landlord's Mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%).

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including any transferee of Landlord's Mortgagee ’s interest in the Building and/or Landlord’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expenseexpense (except as provided below), execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be reasonably necessary to effectuate such transfer. The Notwithstanding the foregoing, Landlord shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)Credit.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, a person or entityentity who is Landlord’s successor in interest to the Lease or Landlord’s interest in the Building, including or Landlord's Mortgagee ’s mortgagee, and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part to the transferee, Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all liability therefor. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The Tenant shall be responsible for paying the issuer's ’s transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)Credit.

Transfer of Letter of Credit. The Letter of Credit shall also provide that Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including regardless of whether or not such transfer is separate from or as a part of the assignment by Landlord of its rights and interests in and to this Lease. In the event of a transfer of Landlord's Mortgagee and/or to have ’s interest in the Building, Landlord shall transfer the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) Credit, in whole or in part to the transferee, transferee and thereupon Landlord shall, without any further agreement between the parties heretoparties, thereupon be released by Tenant from all liability therefor. The , and it is agreed that the provisions hereof shall apply to every transfer or assignment of all the whole or any part portion of the said Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit Bank such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's transfer and Tenant shall be responsible for paying the Bank’s transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)therewith.

Transfer of Letter of Credit. The Letter of Credit shall also provide that Landlord may, at any time and without with notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person or entity, including regardless of whether or not such transfer is separate from or as a part of the assignment by Landlord of its rights and interests in and to this Lease. In the event of a transfer of Landlord's Mortgagee and/or to have ’s interest in the Building, Landlord shall transfer the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) Credit, in whole or in part to the transferee, transferee and thereupon Landlord shall, without any further agreement between the parties heretoparties, thereupon be released by Tenant from all liability therefor. The , and it is agreed that the provisions hereof shall apply to every transfer or assignment of all the whole or any part portion of the said Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's Landlord’s sole cost and expense, execute and submit to the issuer of the Letter of Credit Bank such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's transfer and Landlord shall be responsible for paying the Bank’s transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)therewith.

Transfer of Letter of Credit. Landlord The Letter of Credit shall also provide that Landlord, its successors and assigns, may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all (one or any portion of more times) its interest in and to the Letter of Credit to another party, person or entity, including regardless of whether or not such transfer is separate from or as a part of the assignment by Landlord of its rights and interests in and to this Lease. In the event of a transfer of Landlord's Mortgagee and/or to have ’s interest in the Building, Landlord shall transfer the Letter of Credit reissued in the name of Landlord's Mortgagee. If Landlord transfers its interest in the Building and transfers the Letter of Credit (or any proceeds thereof then held by Landlord) in whole or in part Credit, to the transferee, transferee and thereupon Landlord shall, without any further agreement between the parties heretoparties, thereupon be released by Tenant from all liability therefor. The , and it is agreed that the provisions hereof shall apply to every transfer or assignment of all or any part of the said Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit Bank such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's , and Landlord shall be responsible for paying the Bank’s transfer and processing fees in connection therewith up to a maximum per-transfer cost of $1,000, with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%)excess being payable by Tenant.

Transfer of Letter of Credit. Landlord may, at any time and without notice to Tenant and without first obtaining Tenant's ’s consent thereto, transfer all or any portion of its interest in and to the Letter of Credit to another party, person the transferee of Landlord’s interest in the Building or entity, including Landlord's Mortgagee ’s mortgagee and/or to have the Letter of Credit reissued in the name of Landlord's Mortgagee’s mortgagee. If Landlord transfers its interest in the Building and transfers Building, Landlord shall transfer the Letter of Credit (or and any proceeds thereof then held by Landlord) in whole or in part to the transferee, and Landlord shall, without any further agreement between the parties hereto, thereupon be released by Tenant from all future liability thereforwith respect to the transferred Letter of Credit. The provisions hereof shall apply to every transfer or assignment of all or any part of the Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant's ’s sole cost and expense, execute and submit to the issuer of the Letter of Credit such applications, documents and instruments as may be necessary to effectuate such transfer. The issuer's transfer and processing fees in connection with any transfer of the Letter of Credit shall be capped at one-quarter of one percent (1/4%).