Expansion Premises Letter of Credit being so replaced within ten (10) business days; provided, however, that in no event shall the amount of the Expansion Premises Letter of Credit hereunder ever be less than $693,750.00. Upon Landlord’s receipt of a substitute Expansion Premises Letter of Credit in compliance with Exhibit C, Landlord agrees not to draw upon the Expansion Premises Letter of Credit being so replaced. Notwithstanding anything to the contrary, Tenant acknowledges that upon the occurrence of any monetary or material non-monetary default beyond applicable notice and cure periods under the Lease (as amended hereby), Tenant shall not be entitled to any further reduction in the amount of the Letter of Credit, and Tenant’s Letter of Credit obligation shall not be reduced below its then current level.
11.Limited Effect. Except as expressly amended by this First Amendment, the Lease and all of the provisions, conditions, covenants, terms, and agreements thereof, are hereby, in all respects, ratified, confirmed and approved, and shall remain in full force and effect. On and after the Effective Date, each reference in the Lease to “this Lease,” “the Lease,” “hereunder,” “hereof,” or words of like import, and each reference to the Lease in any other agreements, documents, or instruments executed and delivered pursuant to, or in connection with, the Lease, will mean and be a reference to the Lease as amended by this First Amendment.
(a)Brokerage. Each of Landlord and Tenant represents and warrants to the other that it has dealt with no other brokers other than CBRE and Cushman & Wakefield (collectively, the “Brokers”) in connection with this First Amendment. Tenant shall indemnify and hold Landlord and its trustees, managers, members, principals, beneficiaries, partners, officers, directors, employees, mortgagees and agents harmless from all claims of any other brokers, agents or finders claiming to have represented Tenant in connection with this First Amendment other than the Brokers. Landlord shall indemnify and hold Tenant and its trustees, managers, members, principals, beneficiaries, partners, officers, directors, employees, mortgagees and agents harmless from all claims of any other brokers, agents or finders claiming to have represented Landlord in connection with this First Amendment other than the Brokers. Landlord shall be responsible for the payment of any commissions owed to the Brokers in connection with this First Amendment pursuant to a separate written agreement.
(b)Ratification. Except as expressly modified by this First Amendment, the Lease is hereby confirmed and shall remain in full force and effect.
(c)No Reservation. Submission of this First Amendment for examination or signature is without prejudice and does not constitute a reservation, option or offer, and this First Amendment shall not be effective until execution and delivery by each of the parties hereto.
(d)Conflict. In the event a conflict arises between the terms of this First Amendment and the terms of the Lease, the terms of this First Amendment shall govern.
(e)Counterparts; Electronic Signatures. This First Amendment may be executed in multiple counterparts, which when combined shall constitute one single First Amendment. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic