Termination of Leases. In the event any individual Lease or Subject Interest (or portion thereof, as applicable) should be released, surrendered or abandoned by Grantor pursuant to Section 3.1 the Overriding Royalty Interest no longer shall apply to that particular Lease or Subject Interest (or such portion thereof, as applicable). Upon termination of the Overriding Royalty Interest, as above provided, upon request by Grantor, Grantee shall, at Grantee's expense, execute and deliver such instrument or instruments as may be necessary to evidence the termination of the Overriding Royalty Interest.
Termination of Leases. Between the date hereof and the Closing Date, Seller shall not cancel, accept the surrender of, or terminate any of the Existing Leases or New Leases without Purchaser's prior written consent in each instance, which consent shall not be unreasonably withheld; provided, however, Seller shall have the right, without Purchaser's consent, to cancel, accept the surrender of, or terminate an Existing Lease or a New Lease (i) if such cancellation, surrender or termination is predicated upon a default of the tenant thereunder or (ii) if such cancellation, surrender or termination is made by the tenant pursuant to the terms of the Existing Lease or the New Lease, as the case may be. If required, Purchaser's consent shall be deemed granted if not denied by notice (stating the grounds for denial with reasonable specificity) given to Seller within five (5) Business Days after request for such consent by Seller.
Termination of Leases. In the event of the withdrawal of a member town from the District, the leases mentioned in subsection III-B shall be terminated at the time of such withdrawal.
Termination of Leases. In the event of the withdrawal of a member town from the District, any leases of land or buildings in the withdrawing town, including any lease entered into subsequent to the acceptance of this Agreement, shall be terminated on the effective date of such withdrawal.
Termination of Leases. At Closing, the Seller shall have caused any and all leases applicable to the Property to be terminated. This provision shall survive Closing.
Termination of Leases. Seller shall take such actions as may be necessary to terminate, effective as of the Closing Date, the real estate leases described at Items 7 and 8 of SCHEDULE 2.2 hereto.
Termination of Leases. The leases related to the Assets (all of which are described in Schedule 4.1.6) shall have been terminated in such a manner so that the Seller shall own the Assets subject thereto free and clear of the terms of such leases.
Termination of Leases. The Parent and Sellers shall take all action necessary to terminate all the leases related to the Assets including those identified on Schedule 4.1.6, so as to satisfy the condition to Closing set forth in Section 4.1.6.
Termination of Leases. Landlord may terminate this Lease, by written notice to Tenant, without any right by Tenant to reinstate its rights by payment of rent due or other performance of the terms and conditions hereof. Upon such termination Tenant shall immediately surrender possession of the Demised Premises to Landlord, and Landlord shall immediately become entitled to receive from Tenant an amount equal to the difference between the aggregate of all Fixed Rent and Additional Rent reserved under this Lease for the balance of the Lease Term, and the fair rental value of the Demised Premises for that period, determined as of the date of such termination.
Termination of Leases. Provided no Event of Default has occurred and is continuing, Borrower, in the ordinary course of business may terminate any lease for any Site (and retain any termination payment on account thereof) without Lender’s approval so long as after such termination, at least 85% of the rentable square footage of the Project remains leased to independent third party tenants under leases made pursuant to subsections 3.7(a) and/or (b) above; provided, however, that such occupancy test shall not apply and Lender’s consent shall not be required as a condition to Borrower’s termination in good faith of the lease of any tenant that is in default thereunder. If consent is required, Lender will be deemed to have given its consent to the termination of a lease if Lender fails to respond to Borrower’s request for consent to such termination within ten (10) days of Lender’s receipt of Borrower’s request and all other materials reasonably requested by Lender to permit it to review the proposed termination. All notices sent by Borrower to Lender seeking consent to a lease termination must state in at least 12 point boldface type that failure by Lender to respond within ten (10) days shall be deemed Lender’s consent to the requested lease termination. So long as no Event of Default then exists, any termination fee of $500,000 or less may be retained by Borrower. Any termination fee in excess of $500,000 shall be held by Lender in escrow without interest, pursuant to the terms of an escrow agreement reasonably acceptable to Borrower and Lender, and shall be used to pay the costs of tenant improvements and brokerage commissions in connection with any new lease(s) for the space being vacated by the tenant whose lease is being terminated. Among other terms, the escrow agreement shall provide that disbursements to Borrower from the escrow account shall be subject to the following terms and conditions:
