Reduction Request definition

Reduction Request has the meaning set forth in Section 2.3(c).
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Reduction Request is defined in Section 5.14.4.2.
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Reduction Request means a written notice from Tenant to Landlord in which Tenant requests a reduction of security permitted hereunder and certifies that, as of the date of such Reduction Request, all of the Reduction Requirements are satisfied. Provided that the Reduction Requirements have been satisfied at the time Landlord receives the Reduction Request, Landlord shall reduce the amount of the Security Deposit as follows: (i) if Landlord holds a cash Security Deposit, Landlord shall remit to Tenant the sum required to reduce the Security Deposit to the reduced Security Deposit amount set forth herein within thirty (30) days after Landlord’s receipt of the Reduction Request; or (ii) if Landlord holds a Letter of Credit, Landlord shall return to Tenant the original Letter of Credit within thirty (30) days following Landlord’s receipt from Tenant of a replacement Letter of Credit in the face amount of the reduced Security Deposit amount set forth herein, which replacement Letter of Credit satisfies all of the requirements set forth herein. During the Lease Term, as extended (if applicable), in no event shall the Security Deposit be less than One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00).
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Examples of Reduction Request in a sentence

  • If Evoenergy does not consent to the Reduction Request, Evoenergy must provide written reasons for its decision.

  • If JGN does not consent to the Reduction Request, JGN must provide written reasons for its decision.

  • Within ten (10) business days after Landlord’s receipt of an L-C Reduction Request, Landlord shall deliver notice (the “Landlord Reduction Request Response”) to Tenant stating that (A) Landlord is approving the L-C Reduction Request, or (B) Landlord is rejecting the L-C Reduction Request.

  • Five (5) Business Days after its receipt of a Reduction Request, the Issuer will issue an amendment to the Letter of Credit reducing the then-current face amount of the Letter of Credit by the amount covered by the Reduction Request unless the Issuer has then received from Buyer a notice disputing in good faith the Reduction Request and providing in detail the basis for the dispute.

  • The County shall review the Reduction Request for accuracy and content.

  • In the event such parties are able to resolve such dispute at the meeting, such parties that are the subject of the dispute shall, within two (2) business days of the meeting, send a joint written letter to the Bank; instructing the Bank on an ongoing basis which party shall be authorized to submit to the Bank a Reduction Request or a Written Approval.

  • Upon receipt of a dispute notice from Buyer as to a particular Reduction Request, the Issuer will not amend the Letter of Credit as to the disputed amount unless and until jointly so instructed by Seller and Buyer or in accordance with the decision of the independent engineering firm, and then only in the amount specified in the joint instruction or decision.

  • The Reduction Request shall be accompanied with a certification and supporting documentation from SSA's environmental consultant, along with written approval from SERA and the NL Companies (or an affidavit from SSA that such approval has been deemed approved pursuant to the Four Party Agreement).

  • Landlord and Tenant hereby acknowledge and agree that with respect to any reduction of the L-C Amount pursuant to an L-C Reduction Request (as defined in Section 7.2 below), such reduction shall apply to the Third Amendment Existing L-C and/or the Fourth Amendment Additional L-C as determined by Tenant in its sole discretion such that any reduction reduces the total Fourth Amendment New L-C Amount in the aggregate.

  • In order for funds to be released, the Developer shall submit to Mesa County a Construction Guarantee Reduction Request and the appropriate supporting documentation (“Reduction Request”).


More Definitions of Reduction Request

Reduction Request has the meaning specified in Section .
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