upon the L/C, on or after January 1, 2015 Tenant
shall have the right to deposit with Landlord an additional Security Deposit in
the amount of $102,225.76 to he held by Landlord in accordance with the Lease,
so that the total Security Deposit held by Landlord under the Lease shall equal
$140,563.76 (i.e., $38,338.00 plus $102,225.76), and upon receipt of such cash
Security Deposit Landlord shall allow the L/C to be cancelled.
THIRD AMENDMENT TO LEASE - Page 22 of 26
EXHIBIT D-1
LETTER OF CREDIT
SPECIMEN LANGUAGE ONLY ("EXHIBIT A") REVISED 07/28/09
COMERICA BANK HAS PREPARED THIS SPECIMEN UPON THE REQUEST AND BASED ON THE
INFORMATION PROVIDED. NO REPRESENTATION AS TO THE ACCURACY OR WILLINGNESS FOR
COMMITMENT IS MADE BY COMERICA BANK TO ISSUE THIS LETTER OF CREDIT IN THIS OR
ANY OTHER FORM.
APPROVED BY
DATE
***********************************************************************************************************
COMERICA BANK
INTERNATIONAL TRADE SERVICES
6260 E. MOCKINGBIRD, 2ND FLOOR
DALLAS, TEXAS 75214
TELEX NO: 3772597
FAX NO.: 214-828-5992
SWIFT: MNBDUS4D
PHONE:
IRREVOCABLE STANDBY LETTER OF CREDIT NO. *****
DATE OF ISSUE:
"BENEFICIARY"
:
THE REALTY ASSOCIATES FUND VII, L.P.
C/O TA ASSOCIATES REALTY
28 STATE STREET, 10TH FLOOR
BOSTON, MA 02109
ATTN: ASSET MANAGEMENT DEPARTMENT
"ACCOUNT PARTY"
:
TANDY BRANDS ACCESSORIES, INC.
"EXPIRY DATE"
:
, OR ANY AUTOMATICALLY EXTENDED DATE, AS HEREIN DEFINED. IN NO
EVENT WILL THIS LETTER OF CREDIT EXTEND BEYOND
"TOTAL AMOUNT"
:
USD amount (amount U.S. DOLLARS)
WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT IN YOUR FAVOR, FOR
THE ACCOUNT PARTY, FOR A SUM NOT EXCEEDING THE TOTAL AMOUNT, STATED ABOVE,
AVAILABLE WITH COMERICA BANK, BY PRESENTATION OF THE FOLLOWING:
1.
THIS ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS HERETO.
2.
DEMAND IN THE FORM OF "ANNEX A"
THIRD AMENDMENT TO LEASE - Page 23 of 26
IF A DEMAND FOR PAYMENT MADE BY YOU HEREUNDER DOES NOT, IN ANY INSTANCE CONFORM
TO THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT, WE SHALL GIVE YOU WRITTEN
NOTICE WITHIN ONE (1) BUSINESS DAY THAT THE DEMAND FOR PAYMENT WAS NOT EFFECTED
IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT, STATING
THE REASONS THEREFOR AND THAT WE WILL UPON YOUR INSTRUCTIONS HOLD ANY DEMAND AT
YOUR DISPOSAL OR RETURN THE SAME TO YOU. UPON BEING NOTIFIED THAT THE DEMAND FOR
PAYMENT WAS NOT EFFECTED IN CONFORMITY WITH THIS LETTER OF CREDIT, YOU MAY
ATTEMPT TO CORRECT ANY SUCH NON-CONFORMING DEMAND FOR PAYMENT TO THE EXTENT THAT
YOU ARE ENTITLED TO DO SO AND WITHIN THE VALIDITY OF THIS LETTER OF CREDIT.
PARTIAL DRAWINGS AND MULTIPLE PRESENTATIONS PERMITTED.
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY
EXTENDED WITHOUT AMENDMENT FOR A PERIOD OF ONE YEAR FROM THE PRESENT OR ANY
FUTURE EXPIRATION DATE, UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO THE EXPIRATION
DATE WE SHALL SEND TO YOU BY COURIER OUR WRITTEN NOTICE THAT WE ELECT NOT TO
EXTEND THIS CREDIT FOR ANY SUCH ADDITIONAL PERIOD. SAID NOTIFICATION WILL