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Question 1 of 2
In order to do a “burndown” of the security deposit in the form of a letter of credit, tenants will usually need to provide the landlord with the instruments and authorizations required by the issuer of the letter of credit.CorrectIncorrect
Question 2 of 2
Tenant advocates need to ensure that the security deposit burndown is applicable so long as tenant is not in default “beyond any applicable notice and cure period.”CorrectIncorrect