Definition of Tenant Letter of Credit

  1. Tenant Letter of Credit means a letter of credit from a Tenant for the benefit of Borrower as security for such Tenant's obligations under its Lease (even if such letter of credit is expressly stated in the applicable Lease to not be a "security deposit" within the meaning of, or subject to, California Civil Code Section 1950.7), including, without limitation, that certain Irrevocable Standby Letter of Credit number 3129471, dated November 14, 2013, in an amount not to exceed $12,000,000.00, issued by Bank of America, N.A. on behalf of Riot Games Inc. for the benefit of Hudson Element LA, LLC.

Examples of Tenant Letter of Credit in a sentence

  1. (as the issuer of Riot Games' Letter of Credit) has not consented to any assignment under Section 5-114 of the UCC of Riot Games' Tenant Letter of Credit or any interest therein or right thereunder, and (iii) Borrower will not grant any such assignment in the future with respect to Riot Games' Tenant Letter of Credit or any other Tenant Letter of Credit, in each instance except to Lender.

Definition of Tenant Letter of Credit in Loan Agreement

Tenant Letter of Credit means a letter of credit from a Tenant for the benefit of Borrower as security for such Tenant's obligations under its Lease (even if such letter of credit is expressly stated in the applicable Lease to not be a "security deposit" within the meaning of, or subject to, California Civil Code Section 1950.7), including, without limitation, that certain Irrevocable Standby Letter of Credit number 3129471, dated November 14, 2013, in an amount not to exceed $12,000,000.00, issued by Bank of America, N.A. on behalf of Riot Games Inc. for the benefit of Hudson Element LA, LLC.