Landlord Letter of Credit shall have the meaning assigned to such term in Section 13.2.

Landlord Letter of Credit means the Original Irrevocable Standby Letter of Credit No. #2012-003 issued by Beach Business Bank on September 7, 2012 for the benefit of Xxxxx Fargo Bank, National Association (on behalf of The Carlsbad Campus, LLC) in the face amount of $757,819.76 as reduced from time to time in accordance with its terms.

Examples of Landlord Letter of Credit in a sentence

Moreover, the Debtors are obligated to reimburse Citibank on account of the drawn amount of the Landlord Letter of Credit, and funds held in the Citibank Account fully collateralize such reimbursement obligations.
The Debtors cannot use the funds in the Citibank Account and are obligated to reimburse Citibank on account of the drawn amount of the Landlord Letter of Credit and pay Citibank’s Postpetition Interest, fees, and expenses, to the extent secured by the Citibank Account.
Funds in the Citibank Accountcollateralize Fisker Automotive’s reimbursement obligations under the Landlord Letter of Credit.
To satisfy the letter of credit requirement in the Lease, Pacific Capital Management, LLC (the “ LC Facilitator”), one of the Company’s existing shareholders, caused its financial institution to issue a letter of credit in the amount of $475,000 (the “Landlord Letter of Credit”) on behalf of the Company in favor of Landlord pursuant to the terms of the Landlord Letter of Credit & Warrant Issuance Agreement, dated August 28, 2018, by and between the Company and the LC Facilitator (“Landlord LOC Agreement”).
Furthermore, there is mutuality between Fisker Automotive’s indebtedness under the Landlord Letter of Credit and Citibank’s obligation to fund the draw of the Landlord Letter of Credit and its resultant claim against Fisker Automotive.

More Definitions of Landlord Letter of Credit

Landlord Letter of Credit means Irrevocable Standby Documentary Credit No. SDCMTN575813 issued by HSBC Bank USA, National Association for the benefit of Bristol-Myers Squibb Company in the face amount of $7,500,000.”

Landlord Letter of Credit means the Letter of Credit issued by Lender in favor of Lightwave Drive, LLC as beneficiary. “Lender” means Bridge Bank, National Association, and its successors and assigns. "Letter of Credit" has the meaning set forth in Section 1.8. "Letter of Credit Obligations" means, at any time, the sum of, without duplication, (i) the maximum amount available to be drawn on all outstanding Letters of Credit issued by Lender or by Lender’s Affiliate and (ii) the aggregate amount of all amounts drawn and unreimbursed with respect to Letters of Credit issued by the Lender or by Lender’s Affiliate. "Letter of Credit Sublimit" means $500,000.

Landlord Letter of Credit means Irrevocable Standby Documentary Credit Xx. XXXXXX000000 issued by HSBC Bank USA, National Association for the benefit of Xxxxxxx-Xxxxx Squibb Company in the face amount of $7,500,000.”

Landlord Letter of Credit means the Letter of Credit issued by Lender in favor of Lightwave Drive, LLC as beneficiary.

Landlord Letter of Credit means the Letter of Credit issued under the Prior Credit Agreement in favor of Intercontinental Fund II 343 Congress Street, LLC for the account of the Company in the origixxx xxxx xxxxxx xx $1,114,905, and as of the date hereof in an amount not exceeding $973,698.03.

Landlord Letter of Credit is that certain Letter of Credit no. SVBSF013762, issued by Bank in favor of Saddle Lane Realty, LLC.”

Landlord Letter of Credit means the standby letter of credit in the face amount of One Hundred Thirty-Eight Thousand Dollars ($138,000) issued for the benefit of Washeop Associates Limited Partnership.