Document ID: 13934

Text:
in the amount set forth in Section21.3 below (the L-C Amount), which L-C shall be issued by a money-center, solvent and nationally recognized bank (a bank which accepts deposits, maintains accounts, has a local San Francisco Bay Area, California office which will negotiate a letter of credit, and whose deposits are insured by the FDIC) reasonably acceptable to Landlord (such approved, issuing bank being referred to herein as the Bank), which Bank must have a short term Fitch Rating which is not less than Fl, and a long term Fitch Rating which is not less than A(or in the event such Fitch Ratings are no longer available, a comparable rating from Standard and Poors Professional Rating Service or Moodys Professional Rating Service) (collectively, the Banks Credit Rating Threshold), and which L-C shall be substantially in the form of Exhibit G, attached hereto. Landlord hereby approves Bridge Bank as the Bank under this Lease. Tenant shall pay all expenses, points and/or fees incurred by Tenant in obtaining the L-C. The L-C shall (i)be callable at sight, irrevocable and unconditional, (ii)be maintained in effect, whether through renewal or extension, for the period commencing on the date of this Lease and continuing until the date (the L-C Expiration Date) that is no less than ninety (90)days after the expiration of the Lease Term, as the same may be extended, and Tenant shall deliver a new L-C or certificate of renewal or extension to Landlord at least thirty (30)days prior to the expiration of the L-C 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 Uniform Customs and Practices for Documentary Credits (1993-Rev), International Chamber of Commerce Publication #500, or the International Standby Practices- ISP 98, International Chamber of Commerce Publication #590. Landlord, or its then managing agent, shall have the right to draw down an amount up to the face amount of the L-C if any of the following shall have occurred or be applicable: (A)such amount is due to Landlord under the terms and conditions of this Lease, or (B)Tenant has filed a voluntary petition under the U. S. Bankruptcy Code or any state bankruptcy code (collectively, Bankruptcy Code), or (C)an involuntary petition has been filed against Tenant under the Bankruptcy Code, or (D)the Bank has notified Landlord that the L-C will not be renewed or extended through the L-C Expiration Date, or (E)Tenant is placed into receivership or conservatorship, or becomes subject to similar proceedings under Federal or State law, or (F)Tenant executes an assignment for the benefit of creditors, (G)if (1)any of the Banks Fitch Ratings (or other comparable ratings to the extent the Fitch Ratings are no longer available) have been reduced below the Banks Credit Rating Threshold, or (2)there is otherwise a material adverse change in the financial condition of the Bank, and Tenant has failed to provide Landlord with a replacement letter of credit, conforming in all respects to the requirements of this Article 21 (including, but not limited to, the requirements placed on the issuing Bank more particularly set forth in this Section21.1 above), in the amount of the applicable L-C Amount, within ten (10)days following Landlords written demand therefor (with no other notice or cure or grace period being applicable thereto, notwithstanding anything in this Lease to the contrary) (H)if, following Tenants entering into bankruptcy, this Lease is rejected or deemed rejected under Section365 of the Bankruptcy Code, or (I)pursuant to Article 9 above, Landlord has paid the amount necessary to remove any lien or encumbrance arising out of the Improvements performed in accordance with the TCCs of the Work Letter, (each of the foregoing being an L-C Draw Event). The L-C shall be honored by the Bank regardless of whether Tenant disputes Landlords right to draw upon the L-C. In addition, in the event the Bank is placed into receivership or conservatorship by the Federal Deposit Insurance Corporation or any successor or similar entity, then, effective as of the date

Named Entities:
43
48
Address
120
121
Title
362
362
EffectiveDate
457
462
Act

Tokenized Text:
in
the
amount
set
forth
in
Section21
.
3
below
(
the
L-C
Amount
)
,
which
L-C
shall
be
issued
by
a
money-center
,
solvent
and
nationally
recognized
bank
(
a
bank
which
accepts
deposits
,
maintains
accounts
,
has
a
local
San
Francisco
Bay
Area
,
California
office
which
will
negotiate
a
letter
of
credit
,
and
whose
deposits
are
insured
by
the
FDIC
)
reasonably
acceptable
to
Landlord
(
such
approved
,
issuing
bank
being
referred
to
herein
as
the
Bank
)
,
which
Bank
must
have
a
short
term
Fitch
Rating
which
is
not
less
than
Fl
,
and
a
long
term
Fitch
Rating
which
is
not
less
than
A
(
or
in
the
event
such
Fitch
Ratings
are
no
longer
available
,
a
comparable
rating
from
Standard
and
Poors
Professional
Rating
Service
or
Moodys
Professional
Rating
Service
)
(
collectively
,
the
Banks
Credit
Rating
Threshold
)
,
and
which
L-C
shall
be
substantially
in
the
form
of
Exhibit
G
,
attached
hereto
.
Landlord
hereby
approves
Bridge
Bank
as
the
Bank
under
this
Lease
.
Tenant
shall
pay
all
expenses
,
points
and
/
or
fees
incurred
by
Tenant
in
obtaining
the
L-C
.
The
L-C
shall
(
i
)
be
callable
at
sight
,
irrevocable
and
unconditional
,
(
ii
)
be
maintained
in
effect
,
whether
through
renewal
or
extension
,
for
the
period
commencing
on
the
date
of
this
Lease
and
continuing
until
the
date
(
the
L-C
Expiration
Date
)
that
is
no
less
than
ninety
(
90
)
days
after
the
expiration
of
the
Lease
Term
,
as
the
same
may
be
extended
,
and
Tenant
shall
deliver
a
new
L-C
or
certificate
of
renewal
or
extension
to
Landlord
at
least
thirty
(
30
)
days
prior
to
the
expiration
of
the
L-C
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
Uniform
Customs
and
Practices
for
Documentary
Credits
(
1993-Rev
)
,
International
Chamber
of
Commerce
Publication
#
500
,
or
the
International
Standby
Practices
-
ISP
98
,
International
Chamber
of
Commerce
Publication
#
590
.
Landlord
,
or
its
then
managing
agent
,
shall
have
the
right
to
draw
down
an
amount
up
to
the
face
amount
of
the
L-C
if
any
of
the
following
shall
have
occurred
or
be
applicable
:
(
A
)
such
amount
is
due
to
Landlord
under
the
terms
and
conditions
of
this
Lease
,
or
(
B
)
Tenant
has
filed
a
voluntary
petition
under
the
U
.
S
.
Bankruptcy
Code
or
any
state
bankruptcy
code
(
collectively
,
Bankruptcy
Code
)
,
or
(
C
)
an
involuntary
petition
has
been
filed
against
Tenant
under
the
Bankruptcy
Code
,
or
(
D
)
the
Bank
has
notified
Landlord
that
the
L-C
will
not
be
renewed
or
extended
through
the
L-C
Expiration
Date
,
or
(
E
)
Tenant
is
placed
into
receivership
or
conservatorship
,
or
becomes
subject
to
similar
proceedings
under
Federal
or
State
law
,
or
(
F
)
Tenant
executes
an
assignment
for
the
benefit
of
creditors
,
(
G
)
if
(
1
)
any
of
the
Banks
Fitch
Ratings
(
or
other
comparable
ratings
to
the
extent
the
Fitch
Ratings
are
no
longer
available
)
have
been
reduced
below
the
Banks
Credit
Rating
Threshold
,
or
(
2
)
there
is
otherwise
a
material
adverse
change
in
the
financial
condition
of
the
Bank
,
and
Tenant
has
failed
to
provide
Landlord
with
a
replacement
letter
of
credit
,
conforming
in
all
respects
to
the
requirements
of
this
Article
21
(
including
,
but
not
limited
to
,
the
requirements
placed
on
the
issuing
Bank
more
particularly
set
forth
in
this
Section21
.
1
above
)
,
in
the
amount
of
the
applicable
L-C
Amount
,
within
ten
(
10
)
days
following
Landlords
written
demand
therefor
(
with
no
other
notice
or
cure
or
grace
period
being
applicable
thereto
,
notwithstanding
anything
in
this
Lease
to
the
contrary
)
(
H
)
if
,
following
Tenants
entering
into
bankruptcy
,
this
Lease
is
rejected
or
deemed
rejected
under
Section365
of
the
Bankruptcy
Code
,
or
(
I
)
pursuant
to
Article
9
above
,
Landlord
has
paid
the
amount
necessary
to
remove
any
lien
or
encumbrance
arising
out
of
the
Improvements
performed
in
accordance
with
the
TCCs
of
the
Work
Letter
,
(
each
of
the
foregoing
being
an
L-C
Draw
Event
)
.
The
L-C
shall
be
honored
by
the
Bank
regardless
of
whether
Tenant
disputes
Landlords
right
to
draw
upon
the
L-C
.
In
addition
,
in
the
event
the
Bank
is
placed
into
receivership
or
conservatorship
by
the
Federal
Deposit
Insurance
Corporation
or
any
successor
or
similar
entity
,
then
,
effective
as
of
the
date