Amount of Letter of Credit. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time, except that Letter of Credit fees payable as provided in Section 2.07(b) shall be calculated based on the actual amount available for drawing in effect at any time rather than such maximum stated amount.
Amount of Letter of Credit. Concurrently with Tenant’s execution and delivery of this Lease, Tenant shall deliver to Landlord an irrevocable standby letter of credit (the “Original Letter of Credit”) which shall be (i) in the form of Exhibit H attached to this Lease (the “Form LC”), (ii) issued by a commercial bank reasonably satisfactory to Landlord upon which presentment may be made in Boston, Massachusetts, (iii) in the amount equal to the Letter of Credit Amount, and (iv) for a term of at least 1 year, subject to the provisions of Section 4.4.2 below. The Original Letter of Credit, any Additional Letters(s) of Credit and Substitute Letter(s) of Credit are referred to herein as the “Letter of Credit.”
Amount of Letter of Credit. Within ten days following Landlord’s written notice requiring delivery of a letter of credit, Tenant shall deliver to Landlord an irrevocable standby letter of credit (the “Original Letter of Credit”) which shall be (i) in the form of Exhibit C attached to this Lease (the “Form LC”), (ii) issued by a bank reasonably satisfactory to Landlord upon which presentment may be made in Boston, Massachusetts, (iii) in the amount of $250,000.00 (the “Letter of Credit Amount”) equal to the Letter of Credit Amount, and (iv) for a term of at least 1 year, subject to the provisions of Section 4.4.2 below. The Original Letter of Credit, any Additional Letters(s) of Credit and Substitute Letter(s) of Credit are referred to herein as the “Letter of Credit.” Upon receipt of a satisfactory Letter of Credit, Landlord shall refund the proceeds of the Security and Restoration Deposit Landlord is then holding.
Amount of Letter of Credit. (a) Concurrently with Tenant's execution and delivery of this Lease, Xxxxxx shall deliver to Landlord an irrevocable standby letter of credit (the "Original Letter of Credit") which shall be (i) in the form of Exhibit F attached to this Lease or in a form reasonably acceptable to both Landlord and Tenant (the "Form LC"), (ii) issued by a bank reasonably satisfactory to Landlord upon which presentment may be made in Boston, Massachusetts, (iii) in the amount equal to the Letter of Credit Amount, and (iv) for a term of at least 1 year, subject to the provisions of Section 4.4.2
Amount of Letter of Credit. (a) Concurrently with Xxxxxx's execution and delivery of this Lease, Tenant shall deliver to Landlord an irrevocable standby letter of credit (the "Original Letter of Credit") which shall be (i) in the form of Exhibit G attached to this Lease (the "Form LC"), (ii) issued by a bank reasonably satisfactory to Landlord upon which presentment may be made in Boston, Massachusetts, (iii) in the amount equal to the Letter of Credit Amount, and (iv) for a term of at least 1 year, subject to the provisions of Section 4.4.2
Amount of Letter of Credit a. The Letter of Credit shall be in an amount equal to the sum determined by the Accounting Firm identified in Section 9 (the "Accounting Firm"), as follows (both initially and recalculated as provided in Section 7) plus ten percent (10%) of said sum.
Amount of Letter of Credit. (a) Concurrently with Tenant’s execution and delivery of this Lease, Tenant shall deliver to Landlord an irrevocable standby letter of credit (the “Original Letter of Credit”) which shall be (i) in the form of Exhibit H attached to this Lease (the “Form LC”) or another form acceptable to Landlord, (ii) issued by Silicon Valley Bank or another commercial bank that is reasonably satisfactory to Landlord upon which presentment may be made in Boston, Massachusetts, (iii) in the amount equal to the Letter of Credit Amount, and (iv) for a term of at least 1 year, subject to the provisions of Section 4.4.2 below. The Original Letter of Credit, any Additional Letters(s) of Credit (as defined below) and Substitute Letter(s) of Credit (as defined below) are referred to herein as the “Letter of Credit.”
Amount of Letter of Credit. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of
Amount of Letter of Credit. The Bank agrees on the terms and subject to the conditions hereinafter set forth, including, without limitation, the conditions set forth in Article 3 hereof, to issue the Letter of Credit. The Letter of Credit will be issued in an initial amount equal to $161,095,891, of which (i) an amount not exceeding $150,000,000.00 shall be available for Principal Drawings, and (ii) an amount not exceeding $11,095,891 (said amount being equal to interest on the Principal Portion for 270 days at an interest rate equal to ten percent (10%) per annum calculated on the basis of a 365-day year) shall be available for Interest Drawings; provided that in no event shall the Stated Amount at any time exceed the Maximum Stated Amount. The Letter of Credit shall be issued to the Issuing and Paying Agent for the account of the Authority and shall be substantially in the form of Exhibit A hereto, with such changes to the form set forth in Exhibit A hereto as the Authority and the Bank shall agree in writing are necessary or advisable. The Authority hereby irrevocably approves reductions and reinstatements of the Stated Amount with respect to the Letter of Credit as provided in the Letter of Credit.
Amount of Letter of Credit. Prior to commencing Service, Customer must provide a Letter of Credit from an LC Issuer in a form acceptable to the District in an amount equal to 2 times the xxxx amount for a 30-day Billing Period in which load is constantly 7000 kW. �e Letter of Credit must be renewed or replaced at least 90 days before any future expiry date on the Letter of Credit. �e District may, in its sole discretion, increase or decrease the required amount of the Letter of Credit due to Customer’s payment history or anticipated changes in Demand Limit, usage or rates, provided that the new required Letter of Credit amount is between 50% and 150% of 2 times the projected billed amount, as determined by the District in its sole discretion. After the earlier of 36 consecutive Billing Periods of on-time payments or 12 consecutive Billing Periods of on-time payments at the Demand Limit, Customer may request that the Letter of Credit requirement be reduced to as low as 50% of 2 times the projected xxxx amount, which reduction the District may grant or deny in its sole discretion. �e District will notify Customer of changes in the required amount of Letter of Credit by email to [insert email address]. Customer must provide any requested increase to the Letter of Credit by the close of business two days after the day of the request.
