Draw Proceeds definition

Draw Proceeds means the proceeds of any draw or draws made by Landlord under the Letter of Credit, together with any and all interest accruing thereon.

Draw Proceeds means the cash proceeds of any draw or draws made by Landlord under the Letter of Credit. Any delays by Landlord in drawing on the Letter of Credit or using the Draw Proceeds will not constitute a waiver by Landlord of any of its rights hereunder with respect to the Letter of Credit or the Draw Proceeds. Landlord will hold the Draw Proceeds in its own name and may co-mingle the Draw Proceeds with other accounts of Landlord or invest them as Landlord may determine in its sole and absolute discretion. In addition to any other rights and remedies Landlord may have, Landlord may in its sole and absolute discretion and at any time, use and apply all or any portion of the Draw Proceeds to pay Landlord for any one or more of the following:

Draw Proceeds means the cash proceeds of any draw or draws made by Sublessor under the Letter of Credit. Any delays by Sublessor in drawing on the Letter of Credit or using the Draw Proceeds will not constitute a waiver by Sublessor of any of its rights hereunder with respect to the Letter of Credit or the Draw Proceeds. Sublessor will hold the Draw Proceeds in its own name and may co-mingle the Draw Proceeds with other accounts of Sublessor or invest them as Sublessor may determine in its sole and absolute discretion. Issuer’s failure to timely honor a draw request shall be an Event of Default under this Sublease Agreement. In addition to any other rights and remedies Sublessor may have, Sublessor may in its sole and absolute discretion and at any time, use and apply all or any portion of the Draw Proceeds to pay Sublessor for any one or more of the following:

Examples of Draw Proceeds in a sentence

• Any delays by Landlord in drawing on the Letter of Credit or using the Draw Proceeds will not constitute a waiver by Landlord of any of its rights hereunder with respect to the Letter of Credit or the Draw Proceeds.

• Landlord will hold the Draw Proceeds in its own name and may co-mingle the Draw Proceeds with other accounts of Landlord or invest them as Landlord may determine in its sole and absolute discretion.

• Tenant acknowledges that Landlord has the right to transfer or mortgage its interest in the Premises and the Building and in this Lease and Tenant agrees that in the event of any such transfer or mortgage, Landlord shall have the right to transfer or assign the Letter of Credit and/or the Draw Proceeds to the transferee or mortgagee, and in such event, Tenant shall look solely to such transferee or mortgagee for return of the Letter of Credit and/or the Draw Proceeds so transferred.

• Following any such application of the Draw Proceeds, Tenant will either pay to Landlord on demand the cash amount so applied in order to restore the Draw Proceeds to the full amount thereof immediately prior to such application or cause the Letter of Credit to be replenished to its full amount thereunder.

• Among other things, it is expressly understood that the Draw Proceeds will not be considered an advance payment of Base Rent or Additional Rent or a measure of Landlord’s damages resulting from any Event of Default hereunder (past, present or future).

More Definitions of Draw Proceeds

Draw Proceeds means the cash proceeds of any draw or draws made by Landlord under the Letter of Credit. Any delays by Landlord in drawing on the Letter of Credit or using the Draw Proceeds will not constitute a waiver by Landlord of any of its rights hereunder with respect to the Letter of Credit or the Draw Proceeds. Landlord will hold the Draw Proceeds in its own name and may co-mingle the Draw Proceeds with other accounts of Landlord or invest them as Landlord may determine in its sole and absolute discretion.

Draw Proceeds means the proceeds of any draw or draws made by Landlord under the Letter of Credit, together with any and all interest accruing thereon. L/C Bank means any United States bank which is approved by Landlord in Landlord’s sole discretion. Landlord hereby approves of Silicon Valley Bank as the L/C Bank. Letter of Credit means that certain one-year irrevocable letter of credit, in the Letter of Credit Required Amount, issued by the L/C Bank, as required under Section 57.2 and, if applicable, as extended, renewed, replaced or modified from time to time in accordance with this Lease, which letter of credit will be transferable and in substantially the same form as attached Exhibit J.

Draw Proceeds means the proceeds of any draw or draws made by Landlord under the Letter of Credit, together with any and all interest accruing thereon. L/C Bank means any United States bank which is approved by Landlord in Landlord’s reasonable discretion. Landlord approves Silicon Valley Bank as an L/C Bank. Letter of Credit means that certain one-year irrevocable letter of credit, in the Letter of Credit Required Amount, as such amount may be reduced pursuant to Section 57.8 below, issued by the L/C Bank, as required under Section 57.2 and, if applicable, as extended, renewed, replaced or modified from time to time in accordance with this Lease, which letter of credit will be transferable and in substantially the same form as attached Exhibit K.

Draw Proceeds means the proceeds of any draw or draws made by Veritone under the Letter of Credit, together with any and all interest accruing thereon, if deposited in an interest-bearing account.

Draw Proceeds means the portion of the proceeds of an Approved FixNFlip Loan placed in an Approved Escrow Account and used for the rehabilitation of the Mortgaged Property.

Draw Proceeds means the cash proceeds of any draw or draws made by Title Company under the Letter of Credit. Any delays by Title Company in drawing on the Letter of Credit or using the Draw Proceeds will not constitute a waiver by Seller or Title Company of any of their respective rights hereunder with respect to the Letter of Credit or the Draw Proceeds. The Draw Proceeds shall be subject to the provisions relating to disposition of the Additional Xxxxxxx Money Deposit and the “liquidated damages” provisions as set forth in this Agreement.

Draw Proceeds means the proceeds of any draw or draws made by Landlord under the Letter of Credit, together with any interest accruing thereon.