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caused by Tenant’s breach of this Lease, including any legally recoverable damages Landlord suffers following termination of this Lease.
F. Transfer of Letter of Credit
. The Letter of Credit shall provide that Landlord, its successors and assigns, may, at any time with
notice to Tenant but without first obtaining Tenant’
s consent thereto, transfer (one or more times) all or any portion of its interest in and to the
Letter of Credit to another party, person or entity, but only as a part of any assignment by Landlord of its rights and interests in and to this Lease
or in connection with Landlord’s financing of the Property. In the event of a transfer of Landlord’
s interest in the Building, Landlord shall
transfer the Letter of Credit, in whole or in part, to the transferee, notify Tenant of such transfer and the name, address and phone number of the
transferee, and upon assumption by the transferee of Landlord’
s obligations hereunder with respect to the Letter of Credit, Landlord shall,
without any further agreement between the parties, be released by Tenant from all liability therefor arising after such transfer, and it is agreed
that the provisions hereof shall apply to every transfer or assignment of the whole or any portion of said Letter of Credit to a new landlord.
Landlord shall remain liable to Tenant, however, for the refund of any prior withdrawals from the Letter of Credit as and to the extent such
refund is required under this Lease or applicable Law, but only to the extent that such refundable amount has not been transferred to the
Landlord’s successor in interest. In connection with any such transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant’
s sole cost and
expense, execute and submit to the issuing or confirming financial institution such applications, documents and instruments as may be necessary
to effectuate such transfer, and Tenant shall be responsible for paying such financial institution’
s transfer and processing fees in connection
therewith; provided, however, that if Landlord’
s transfers the Letter of Credit more than one (1) time in any twelve (12) month period, Landlord
shall pay the financial institution’
s transfer and processing fees in connection with the second and any subsequent transfer during such twelve
(12) month period.
G. Replacement of the Letter of Credit with a Cash Security Deposit
. Notwithstanding any of the foregoing to the contrary,
Landlord shall return the Letter of Credit within 10 business days (“ Letter of Credit Termination Date ”)
after receipt by Landlord of written
notice (“ Security Deposit Election Notice ”)
from Tenant electing to provide a cash Security Deposit in the amount of the required Letter of
Credit Amount in lieu of the Letter of Credit, together with the required Letter of Credit Amount in lawful money of the United States; provided
that Tenant is neither in Default upon Landlord’s receipt of the Security Deposit Election Notice or upon the Letter of Credit Termination Date.
Exhibit F
4