Tenant Letter of Credit definition

Tenant Letter of Credit means any letter of credit provided to Borrower, as landlord, by a tenant under a Lease as security for, or payment of, any tenant obligations under such Lease.
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Tenant Letter of Credit means each Letter of Credit delivered by a Tenant to Borrower or its predecessor in interest as security for such Tenant’s obligations under its Lease.
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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 Xxxxxx Element LA, LLC.
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Examples of Tenant Letter of Credit in a sentence

  • Borrower’s obligation to deposit and hold with Administrative Agent any security deposit (including the proceeds of any draw on a Tenant Letter of Credit), and any interest thereof, shall be subject to Applicable Law with respect to Tenant security deposits.

  • Pursuant to such assignment of proceeds, all draws under applicable Tenant Letters of Credit shall be deposited (upon payment by the applicable issuing bank with respect to such Tenant Letter of Credit) by Administrative Agent into the Security Deposit Account.

  • Borrower shall not allow any Tenant Letters of Credit to lapse unless permitted pursuant to the applicable Lease and Borrower shall draw down the proceeds of any Tenant Letter of Credit (to the extent permitted under any applicable Lease) prior to the expiration date thereof.

  • Tenant Letter of Credit Cash Abishay Enterprises, LLC (Ali’s Cookies) ​ $4,181.51 Advanced Dermal Sciences, LLC (Spa Xxxxxx) ​ $8,543.46 A.J.P.N. Enterprises, Inc.

  • In order to secure Borrower's repayment of the Note and performance of all other covenants and conditions required on the part of Borrower to be observed or performed hereunder and under the other Loan Documents, Borrower hereby pledges to and grants to Lender a continuing security interest in all proceeds and Funds derived from any Lender draw against the Tenant Letter of Credit.

  • Borrower agrees to give Lender prompt written notice of any material default under any Lease or any guaranty or other document or instrument related thereto if such Lease or guaranty has a Tenant Letter of Credit in lieu of a security deposit, or the existence of any other circumstance or state of facts of which Borrower has knowledge giving rise to a right for the beneficiary under the applicable Tenant Letter of Credit to make any full or partial draw thereunder.

  • Pursuant to such assignment of proceeds, all draws under Tenant Letters of Credit shall be deposited (upon payment by the applicable issuing bank with respect to such Tenant Letter of Credit) by Lender into the Tenant Security Account.

  • Provide information, including name of Surety Company of reference, which indicates your ability to qualify for, obtain, and submit the Tenant Letter of Credit, Construction Letter of Credit, and Labor and Materials Payment Bond that must be submitted to the City if you are awarded this concession privilege.

  • Notwithstanding the foregoing, if the proceeds of any Tenant Letter of Credit paid over to Lender in accordance with the foregoing are for the payment of Rents under the applicable Lease for multiple months, then on each Payment Date thereafter, only an amount equal to the amount of Rents due for the month in which such Payment Date occurs shall be applied in accordance with Section 2.7.2(b) and the balance of such proceeds shall remain in the Cash Management Account as cash collateral.

  • BrauerChairman, Hunter Engineering Company Former U.S. Ambassador to BelgiumGary S.


More Definitions of Tenant Letter of Credit

Tenant Letter of Credit shall have the meaning set forth in Section 9.10(a).
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Related to Tenant Letter of Credit

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Existing Letter of Credit means each letter of credit previously issued (or deemed issued) for the account of the Borrower, the Company or any of their respective Subsidiaries under the Existing Credit Facilities that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01C.

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Standard Letter of Credit Practice means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit F, signed by a Responsible Official of Borrower and properly completed to provide all information required to be included therein.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.