Form of Letter of Credit. The Letter of Credit shall be issued by a national bank acceptable to Landlord in its reasonable discretion with offices in the Denver Metropolitan Area that will accept and pay on any draw on the Letter of Credit. Tenant shall maintain the Letter of Credit for the entire Term, provided that Tenant may at any time substitute a cash Security Deposit for the Letter of Credit, and upon such substitution, Landlord shall return the Letter of Credit to Tenant. The Letter of Credit shall provide that it will be automatically renewed until 30 days after the Expiration Date unless the issuer provides Landlord with written notice of non-renewal at the notice address in the Lease at least 60 days prior to the expiration thereof. If, not later than 30 days prior to the expiration of the Letter of Credit, Tenant fails to furnish Landlord with a replacement Letter of Credit pursuant to this Section, Landlord shall have the right to draw the full amount of the Letter of Credit, and shall hold the proceeds of the Letter of Credit as a cash Security Deposit pursuant to Article 6 of the Existing Lease. The Letter of Credit shall expressly permit full and partial draws. The Letter of Credit shall designate Landlord as beneficiary and shall be transferable by beneficiary to any transferee, successor and assign (including any lender of Landlord) at no cost or expense to beneficiary. The Letter of Credit shall provide that it may be drawn by Landlord (or its assignee) upon presentation by Landlord to the issuing bank (at its offices in the Denver Metropolitan Area) of a sight draft(s), together with a written statement executed by Landlord stating that the amount requested is due Landlord under the Lease. The amount of the draw requested by Landlord shall be payable by the bank without further inquiry or any other documentation or further action required of the bank, Landlord or Tenant. All costs and expenses to obtain the Letter of Credit and all renewals shall be borne by Tenant.
Form of Letter of Credit. Concurrently with Tenant's execution and delivery of this Lease, Tenant shall deliver to Landlord an unconditional, irrevocable, standby letter of credit (the "Letter of Credit") with an expiration date no earlier than twelve (12) months from the date of issuance in the amount of Ninety Eight Thousand Three Hundred Ninety Four and No/100 Dollars ($98,394.00). The Letter of Credit shall be in the same form as Exhibit K attached hereto. The Letter of Credit shall secure the full and faithful performance of each provision of this Lease to be performed by Tenant. The Letter of Credit shall be issued by a money-center bank, or another financial institution acceptable to Landlord in its sole discretion. The Letter of Credit must be presentable in San Francisco, California. If Tenant fails to pay Rent or otherwise defaults with respect to any provision of this Lease and fails to cure any such default within any applicable notice and cure period provided in this Lease, then Landlord may execute one or more drafts on the Letter of Credit for the payment of any Rent, or for the payment of any other sum for which Landlord may become obligated by reason of Tenant's default, or for any payment to which Landlord may become entitled by reason of Tenant's default, or for payment to Landlord for any loss or damage which Landlord may suffer thereby. The Letter of Credit shall contain language allowing Landlord to draw upon the Letter of Credit upon presentation to the issuer of the Letter of Credit of Landlord's written statement that Landlord is entitled to the funds represented by such Letter of Credit in accordance with the terms hereof. If Landlord so uses or applies all or any portion of the amount represented by the Letter of Credit, then Tenant shall, within ten (10) days after written demand therefor, at Landlord's sole option, (i) deposit cash with Landlord in lieu of the Letter of Credit in the amount drawn, or (ii) deliver a replacement letter of credit in the amount drawn so that the total amounts represented by the Letter of Credit and the replacement letter of credit equals Ninety Eight Thousand Three Hundred Ninety Four and No/100 Dollars ($98,394.00), and Tenant's failure to do so shall be an Event of Default
Form of Letter of Credit. To: Storengy UK Limited Stublach Site Xxxx Xxxxxx Xxxxxxxxx Xxxxxxxx XX0 0XX (the Beneficiary) [INSERT DATE] Dear Sirs, Irrevocable Standby Letter of Credit No: [insert number of LoC] At the request of [Insert company name] a company registered in [Insert country] with number [Insert registration number] whose registered office is at [Insert address]), [Insert name of Issuing Bank], (the Issuing Bank) issues this irrevocable standby letter of credit (Letter of Credit) in your favour on the following terms and conditions:
Form of Letter of Credit. Each Letter of Credit to be issued hereunder shall:
Form of Letter of Credit. Letter of Credit Amount. Tenant shall, within two (2) weeks following Tenant's execution and delivery of this Lease (the "Letter of Credit Delivery Date"), deliver to Landlord, as protection for the full and faithful performance by Tenant of all of its obligations under this Lease and for all losses and damages Landlord may suffer as a result of any breach or default by Tenant under this Lease, an irrevocable and unconditional negotiable standby letter of credit (the "Letter of Credit"), in the form attached hereto as Exhibit H and containing the terms required herein, payable in the City of Los Angeles, California, running in favor of Landlord and issued by a solvent, nationally recognized bank with a long term rating of A or higher (by Standard Poor's) or a long term rating of A2 or higher (by Xxxxx'x), under the supervision of the Superintendent of Banks of the State of California, or a national banking association, in the amount of $407,566.00 (the "Letter of Credit Amount"). In no event shall Landlord be obligated to disburse any portion of the Tenant Improvement Allowance until Landlord has received the Letter of Credit in compliance with the terms of this Article 27. The Letter of Credit shall (i) be "callable" at sight, irrevocable and unconditional, (ii) be maintained in effect, whether through renewal or extension, for the period from the Commencement Date and continuing until the date (the "LC Expiration Date") that is one hundred twenty (120) days after the expiration of the Term (as the same may be extended), and Tenant shall deliver a new Letter of Credit or certificate of renewal or extension to Landlord at least ninety (90) days prior to the expiration of the Letter of Credit then held by Landlord, without any action whatsoever on the part of Landlord, (iii) be fully assignable by Landlord, its successors and assigns, (iv) permit partial draws and multiple presentations and drawings, and (v) be otherwise subject to the International Standby Practices 1998, International Chamber of Commerce Publication No. 590. If Tenant exercises its option to extend the Term pursuant to Section 2.5 of this Lease then, not later than ninety (90) days prior to the commencement of the Renewal Term, Tenant shall deliver to Landlord a new Letter of Credit or certificate of renewal or extension evidencing the LC Expiration Date as one hundred twenty (120) days after the expiration of the Renewal Term. The form and terms of the Letter of Credit and the bank issui...
Form of Letter of Credit. [On letterhead or L/C letterhead of Issuer.] LETTER OF CREDIT Date: , 200 (the “Beneficiary”) Attention: L/C. No.: Loan No. : Ladies and Gentlemen:
Form of Letter of Credit. BENEFICIARY Post Mxxxxxxxxx Associates Oxx Xxxxxxxxxx Xxxxxx, Suite 3220 San Francisco, CA 94104 Attn: Building Manager APPLICANT Broadpoint Securities Group, Inc. 1 Xxxx Xxxxx Xxx Xxxx, XX 00000-0000 WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. XXXXXXXX IN FAVOR OF POST MXXXXXXXXX ASSOCIATES FOR THE ACCOUNT OF BROADPOINT SECURITIES GROUP, INC. FOR A SUM NOT EXCEEDING $338,981, AVAILABLE BY YOUR DRAFTS AT SIGHT ON US EFFECTIVE IMMEDIATELY AND EXPIRING AT OUR COUNTERS AT OUR CLOSE OF BUSINESS ON NOVEMBER XX, 0000. DRAFTS DRAWN HEREUNDER MUST BE ACCOMPANIED BY A STATEMENT SIGNED BY ONE OF YOUR AUTHORIZED SIGNATORIES READING AS FOLLOWS: "THE AMOUNT OF THE ACCOMPANYING DRAFT IS DUE AND PAYABLE TO THE LANDLORD UNDER A CERTAIN OFFICE LEASE DATED AS OF MARCH 31, 2005, BETWEEN POST MXXXXXXXXX ASSOCIATES AND BROADPOINT SECURITIES GROUP, INC." DRAFTS DRAWN HEREUNDER MUST INDICATE: "DRAWN UNDER LETTER OF CREDIT NO. XXXXXXXX OF THE BANK OF NEW YORK MELLON." IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR FURTHER PERIODS OF ONE YEAR FROM THE PRESENT AND EACH FUTURE EXPIRATION DATE, UNLESS, AT LEAST THIRTY (30) DAYS PRIOR TO SUCH DATE, WE SHALL SEND YOU NOTICE IN WRITING BY OVERNIGHT COURIER, TO THE ATTENTION OF YOUR BUILDING MANAGER AT THE ABOVE ADDRESS THAT WE ELECT NOT TO RENEW THIS LETTER OF CREDIT FOR SUCH ADDITIONAL PERIOD. ANY SUCH NOTICE WILL BE EFFECTIVE THREE (3) DAYS AFTER BEING SENT BY US, AND THEREAFTER YOU MAY DRAW DRAFTS(S) ON US AT SIGHT FOR AMOUNTS UP TO THE REMAINING BALANCE OF THIS LETTER OF CREDIT ON OR BEFORE THE THEN APPLICABLE EXPIRATION DATE, AND SUCH DRAFT(S) NEED NOT BE ACCOMPANIED BY ANY STATEMENT. THIS LETTER OF CREDIT IS TRANSFERABLE IN ITS ENTIRETY TO ANY ASSIGNEE OF TRANSFEREE OF YOUR INTEREST IN THE OFFICE LEASE REFERRED TO ABOVE WITHOUT ANY FEE OR CHARGE ON YOUR PART OR ON THE PART OF THE TRANSFEREE. SAID TRANSFER IS TO BE EFFECTED AT OUR COUNTERS AND IS CONTINGENT UPON:
Form of Letter of Credit. Each Standby Letter of Credit shall, among other things, (i) be in a form acceptable to Lender, and (ii) be governed by, and shall be construed in accordance with, the laws or rules designated in such Standby Letter of Credit, or if no such laws or rules are designated, the Uniform Customs and, as to matters not governed by the Uniform Customs, the laws of the State of Connecticut (without regard to its conflict of laws rules).
Form of Letter of Credit. (Letterhead of a money center bank acceptable to the Landlord) FAX NO. [(__)_____-_____] [Insert Bank Name And Address] SWIFT: [Insert No., if any] DATE OF ISSUE: BENEFICIARY: APPLICANT: [Insert Beneficiary Name And Address] [Insert Applicant Name And Address] LETTER OF CREDIT NO. EXPIRATION ____________________ AT OUR COUNTERS DATE: AMOUNT AVAILABLE: USD[Insert Dollar Amount] (U.S. DOLLARS [Insert Dollar Amount]) LADIES AND GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. ___________ IN YOUR FAVOR FOR THE ACCOUNT OF [Insert Tenant’s Name], A [Insert Entity Type], UP TO THE AGGREGATE AMOUNT OF USD[Insert Dollar Amount] ([Insert Dollar Amount] U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING ON (Expiration Date) AVAILABLE BY PAYMENT UPON PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON [Insert Bank Name] WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENT(S):
Form of Letter of Credit. This Exhibit is attached to and made a part of the Lease by and between LOCON SAN MATEO, LLC, a Delaware limited liability company (“Landlord”) and WOODMAN LABS, INC., a California corporation (“Tenant”) for space in the Buildings located at 3000E and 0000X Xxxxxxxxx Xxx, Xxx Xxxxx, Xxxxxxxxxx. FORM OF LETTER OF CREDIT [Name of Financial Institution] Irrevocable Standby Letter of Credit No. Issuance Date: Expiration Date: Applicant: Beneficiary [Insert Name of Landlord] [Insert Building management office address] With copies of all notices to Beneficiary Also delivered to: [TO BE PROVIDED] Ladies/Gentlemen: We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account of the above referenced Applicant in the amount of U.S. Dollars ($ ) available for payment at sight by your draft drawn on us when accompanied by the following documents:
