READING AS FOLLOWS:
"IN ACCORDANCE WITH THE LEASE AGREEMENT FOR SORRENTO SUMMIT DATED AUGUST 28,
2017, INCLUDING ANY AMENDMENTS AND RESTATEMENTS THERETO, BETWEEN NUVASIVE, INC.,
AS TENANT, AND HCPI/SORRENTO, LLC AS LANDLORD (THE "LEASE"), THE UNDERSIGNED AS
THE CURRENT LANDLORD UNDER THE LEASE IS ENTITLED TO AND HEREBY DEMANDS PAYMENT
UNDER ____________________ BANK, N.A. LETTER OF CREDIT NO ____________________
IN THE AMOUNT OF U.S. $___________________ ." OR
"THE UNDERSIGNED, [SUCCESSOR TO] HCPI/SORRENTO, LLC ("CREDITOR") IS IN RECEIPT
OF NOTICE FROM _________________ BANK, N.A. THAT LETTER OF CREDIT NO.
_____________________ WILL NOT BE EXTENDED BEYOND ITS CURRENT EXPIRATION DATE
AND THE UNDERSIGNED HAS NOT RECEIVED ACCEPTABLE REPLACEMENT SECURITY.
THE
UNDERSIGNED IS ENTITLED TO AND HEREBY DEMANDS PAYMENT UNDER _______________
BANK, N.A. LETTER OF CREDIT NO. _____________________ IN THE AMOUNT OF U.S.
$____________________."
PARTIAL DRAWING AND MULTIPLE PRESENTATIONS ARE PERMITTED.
PRESENTATION OF A
DRAWING UNDER THIS LETTER OF CREDIT MAY BE MADE BY HAND DELIVERY, COURIER
SERVICE, OVERNIGHT MAIL, OR FACSIMILE.
PRESENTATION BY FACSIMILE TRANSMISSION
SHALL BE BY TRANSMISSION OF THE ABOVE REQUIRED SIGHT DRAFT DRAWN ON US TOGETHER
EXHIBIT I
WITH THIS LETTER OF CREDIT TO OUR FACSIMILE NUMBER, [INSERT FAX NUMBER -
(___) ___-____], ATTENTION:
[INSERT APPROPRIATE RECIPIENT], WITH TELEPHONIC
CONFIRMATION OF OUR RECEIPT OF SUCH FACSIMILE TRANSMISSION AT OUR TELEPHONE
NUMBER [INSERT TELEPHONE NUMBER - (___) ___-____] OR TO SUCH OTHER FACSIMILE OR
TELEPHONE NUMBERS, AS TO WHICH BENEFICIARY HAS RECEIVED WRITTEN NOTICE FROM US
AS BEING THE APPLICABLE SUCH NUMBER.
WE AGREE TO NOTIFY BENEFICIARY IN WRITING,
BY NATIONALLY RECOGNIZED OVERNIGHT COURIER SERVICE, OF ANY CHANGE IN SUCH
DIRECTION.
ANY FACSIMILE PRESENTATION PURSUANT TO THIS PARAGRAPH SHALL ALSO
STATE THEREON THAT THE ORIGINAL OF SUCH SIGHT DRAFT AND LETTER OF CREDIT ARE
BEING REMITTED, FOR DELIVERY ON THE NEXT BUSINESS DAY, TO [INSERT BANK NAME] AT
THE APPLICABLE ADDRESS FOR PRESENTMENT PURSUANT TO THE PARAGRAPH FOLLOWING THIS
ONE.
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY
EXTENDED FOR ONE YEAR FROM THE PRESENT OR ANY FUTURE EXPIRATION DATE, UNLESS AT
LEAST SIXTY (60) DAYS PRIOR TO THIS OR ANY FUTURE EXPIRATION DATE WE SEND NOTICE
TO YOU BY REGISTERED MAIL, RETURN RECEIPT REQUESTED, OR BY HAND DELIVERED
COURIER THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT EXTENDED FOR ANY
SUCH ADDITIONAL PERIOD.
THIS LETTER OF CREDIT IS TRANSFERRABLE ONE OR MORE TIMES AND ONLY IN ITS
ENTIRETY, PROVIDED THAT SUCH TRANSFER WOULD NOT VIOLATE ANY GOVERNMENTAL RULE,
ORDER, OR
REGULATION, SUBJECT TO OUR RECEIPT OF BENEFICIARY'S INSTRUCTIONS IN THE FORM
ATTACHED HERETO AS EXHIBIT A, ACCOMPANIED BY THE ORIGINAL LETTER OF CREDIT AND
AMENDMENT(S) IF ANY. COSTS OR EXPENSES OF SUCH TRANSFER SHALL BE FOR THE ACCOUNT
OF THE APPLICANT.
WE HEREBY ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE
TERMS AND CONDITIONS OF THIS CREDIT WILL BE DULY HONORED UPON PRESENTATION AT
OUR COUNTERS AT ____________________________________ ON OR BEFORE THE EXPIRATION
DATE HEREOF.
THE ORIGINAL LETTER OF CREDIT OR A CERTIFIED COPY MUST