2Continuation Clause Samples
2Continuation. To the extent that any power of withdrawal held by persons with a withdrawal power under this Section 4.1 has not lapsed (or been exercised) in accordance with this Section 4.1 during the first lapse period with respect to the gift, such person=s power of withdrawal shall continue but may only be exercised with the consent of the Trustee, provided, however, that if the Trustee or any co-Trustee has a substantial interest in the trust which is adverse to the exercise of the power of withdrawal of the child or grandchild holding the power, within the meaning of Section 2514 of the Code, such Trustee or co-Trustee shall be precluded from prohibiting the continuation of the child=s or grandchild=s power of withdrawal and any consent of the Trustee shall be given or refused only by the co-Trustee not so precluded or by a Special Trustee appointed for the purpose. Notwithstanding anything in this instrument to the contrary, if any property has been transferred to the trust estate and the gift deemed completed after October 31, the power to demand such property shall not lapse in accordance with the foregoing provisions until December 31 of the year following the year in which such transfer is made.
2Continuation. Even though an Event of Default may have occurred, this Lease shall continue in effect for so long as Landlord does not terminate this Lease as provided in Section 15.2.1 above; and Landlord may enforce all of Landlord’s rights and remedies under this Lease, including, without limitation, the right to recover Rent as it becomes due. Landlord, without terminating this Lease, may, during the period Tenant is in default, enter the Premises and relet the same, or any portion thereof, to third parties for Tenant’s account and Tenant shall be liable to Landlord for all costs Landlord incurs in reletting the Premises, including, without limitation, brokers’ commissions, expenses of remodeling the Premises and like costs. Reletting may be for a period shorter or longer than the remaining Term. Tenant shall continue to pay the Rent on the date the same is due. No act by Landlord hereunder, including acts of maintenance, preservation or efforts to lease the Premises or the appointment of a receiver upon application of Landlord to protect ▇▇▇▇▇▇▇▇’s interest under this Lease, shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. In the event that Landlord elects to relet the Premises, the rent that Landlord receives from reletting shall be applied to the payment of, first, any indebtedness from Tenant to Landlord other than Base Rent and ▇▇▇▇▇▇’s Share of Operating Expenses and Real Property Taxes; second, all costs, including maintenance, incurred by Landlord in reletting; and, third, Base Rent and Tenant’s Share of Operating Expenses and Real Property Taxes under this Lease. After deducting the payments referred to above, any sum remaining from the rental Landlord receives from reletting shall be held by Landlord and applied in payment of future Rent as Rent becomes due under this Lease. In no event, and notwithstanding anything in Section 16 to the contrary, shall Tenant be entitled to any excess rent received by Landlord. If, on the date Rent is due under this Lease, the rent received from the reletting is less than the Rent due on that date, Tenant shall pay to Landlord, in addition to the remaining Rent due, all costs, including maintenance, which Landlord incurred in reletting the Premises that remain after applying the rent received from reletting as provided hereinabove. So long as this Lease Is not terminated, Landlord shall have the right to remedy any default of Tenant, to maintain or improve the Premises...