defined in Article 39 of the Lease) under the Lease is
, 2000. The
Expiration Date of the Lease is
.
Please sign where indicated on the bottom left-hand corner of this letter to
indicate your assent to the foregoing and deliver a fully-executed duplicate
original of this letter to the undersigned within five (5) days of the date
hereof.
Landlord SMII FIFTH AVENUE LLC, a Delaware Limited Liability Company
By: Koll Bren Schreiber Realty Advisors, Inc., as Agent By:
Charles A. Valentino,
Senior Vice President
ACCEPTED AND AGREED TO: Tenant TIGRIS CONSULTING, a __________________________
By:
30
EXHIBIT "E"
FORM OF LETTER OF CREDIT
31
DATE: ____________
BENEFICIARY: ____________
APPLICANT: ____________
ADDRESS: ________
ADDRESS: ___________
IRREVOCABLE UNCONDITIONAL STANDBY LETTER OF CREDIT NUMBER: _____________________
AMOUNT: USD $ _________________
DATE OF EXPIRY: ___________
PLACE OF EXPIRY: OUR COUNTERS
BY ORDER AND FOR ACCOUNT OF ________________________, HAVING AN ADDRESS AT
__________, WE HEREBY OPEN OUR IRREVOCABLE UNCONDITIONAL TRANSFERABLE STANDBY
LETTER OF CREDIT NO. _________ IN YOUR FAVOR AND EFFECTIVE IMMEDIATELY FOR UP TO
AN AGGREGATE AMOUNT OF USD$ __________ PAYABLE TO YOU AGAINST YOUR PRESENTATION
TO US OF YOUR SIGHT DRAFT(S) DRAWN ON ___________ ACCOMPANIED BY:
+ BENEFICIARY'S SIGNED STATEMENT AS FOLLOWS:
"WE, THE UNDERSIGNED, DULY AUTHORIZED SIGNATORS OF __________________________,
HEREBY CERTIFY THAT ____________________ MAY DRAW THE AMOUNT OF USD$ ___________
UNDER THIS LETTER OF CREDIT IN ACCORDANCE WITH THE PROVISIONS OF A CERTAIN LEASE
DATED _____________ COVERING THE PREMISES AT: ____________, NEW YORK, NEW YORK".
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY
EXTENDED, WITHOUT AMENDMENT, FOR ADDITIONAL ONE YEAR PERIODS FROM THE CURRENT
EXPIRATION DATE HEREOF OR ANY FUTURE EXPIRATION DATE, UNLESS 90 DAYS PRIOR TO
ANY EXPIRATION DATE WE NOTIFY YOU BY CERTIFIED MAIL OR OVERNIGHT COURIER, PROOF
OF RECEIPT REQUESTED, THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT
RENEWED FOR ANY SUCH ADDITIONAL PERIOD. HOWEVER, IN ANY EVENT, THIS LETTER OF
CREDIT WILL NOT BE EXTENDED BEYOND [INSERT DATE WHICH IS 120 DAYS AFTER
EXPIRATION DATE OF LEASE], WHICH IS THE FINAL EXPIRATION DATE. UPON RECEIPT OF
SUCH NOTIFICATION FROM US, YOU MAY DRAW YOUR SIGHT DRAFT ON US, MENTIONING
THEREON OUR CREDIT NUMBER FOR THE UNUSED PORTION OF THE LETTER OF CREDIT, IF
PRESENTED TO US AT ________________________________ ON OR
32
PAGE 2
DRAFT(S) AND DOCUMENTS MUST BE FORWARDED
TO
______________________________________________________________________________________________
BANK IN ONE MAIL.
DRAFTS MUST STATE: "DRAWN UNDER ____________________ BANK LETTER OF CREDIT NO.
______________" AND, IF APPLICABLE, MUST ALSO BE ENDORSED ON ITS REVERSE.
THE LETTER OF CREDIT MAY BE FREELY ASSIGNED OR TRANSFERRED ONE OR MORE TIMES BY
YOU OR YOUR SUCCESSORS AND/OR ASSIGNS TO ANY PARTY WITHOUT PAYMENT OF ANY FEE
WHATSOEVER, BY BENEFICIARY EXECUTING AND DELIVERING TO _________________________
BANK THE TRANSFER FORM ANNEXED HERETO AS EXHIBIT "A".
WE HEREBY ENGAGE WITH YOU THAT DOCUMENTS PRESENTED IN CONFORMITY WITH THE TERMS
OF THIS LETTER OF CREDIT WILL BE DULY HONORED BY US.
EXCEPT SO FAR AS OTHERWISE EXPRESSLY STATED, THIS LETTER