Acquisition Contingency. Tenant hereby acknowledges and agrees that Landlord is not the fee simple owner of the Land as of the Effective Date, and Tenant hereby further acknowledges and agrees that Landlord has not made any representation or warranty regarding Landlord’s ownership of the Land. Notwithstanding anything to the contrary set forth herein, the effectiveness of this Lease is expressly subject to, conditioned and contingent upon Landlord acquiring fee simple title to the Land. Nothing set forth herein will be deemed to require Landlord to acquire the Land, and in no event will Landlord be liable for any damages claimed by Tenant resulting from Landlord’s failure to purchase the Land.
Acquisition Contingency. This Lease is expressly contingent upon Landlord acquiring the Building Complex and the parties acknowledge that the Commencement Date of the Primary Lease Term shall be the date of closing of the acquisition of the Building Complex by Landlord. In the event Landlord fails to close on its anticipated acquisition of the Building Complex, then this Lease shall be null and void and of no force or effect.
Acquisition Contingency. Notwithstanding any other provision of this Lease which might be construed to the contrary, this Lease is contingent upon the acquisition of the Leased Premises by Lessor pursuant to that certain REAL ESTATE SALES CONTRACT dated MARCH 10, 1997, between Lessor, as the assignee of the purchaser thereunder, and MID-AMERICA RESTAURANT VENTURES, INC., as seller thereunder (the "REAL ESTATE SALES CONTRACT"). Lessee acknowledges receipt of a true and complete copy of the Real Estate Sales Contract. If such acquisition of the Leased Premises by Lessor does not occur, then this Lease shall be null and void and neither party shall have any obligation of performance to the other party under this Lease.
Acquisition Contingency. Buyer being able to close, on or before the Closing Date contemplated hereunder, on the acquisition of certain property located adjacent to the Property as shown on Exhibit “B” attached hereto and made a part hereof owned by JC FLEX, LLC (the “Adjacent Property”), on terms and conditions set forth in that certain Agreement for the Sale and Purchase of Real Property between Buyer and JC FLEX, LLC (a copy of which has been provided to Seller). Buyer and Seller hereby agree that Buyer's obligations hereunder are expressly conditioned on Buyer being able to close on the acquisition of the Adjacent Property prior to or simultaneously with the Closing contemplated herein. Buyer hereby agrees to use its commercially reasonable efforts to close on the Adjacent Property on or before the Closing date contemplated herein. Notwithstanding anything to the contrary contained herein, a default by Buyer under its contract for the Adjacent Property shall be deemed to be a default hereunder which shall entitle Seller to exercise its remedies set forth in Section 7.03 below.
Acquisition Contingency. The Seller does not, as of the Effective Date, have title to the Property. Upon mutual execution of the Agreement, Seller will attempt to acquire the Property through available statutory procedures involving tax-foreclosed real property. If, for any reason, Seller is not able to acquire the Property then Seller may terminate this Agreement at any time, effective immediately upon written notice to Purchaser. If for any reason Seller is unable to acquire any one or more parcels of the Property, then Seller may terminate this Agreement at any time with respect to that parcel or parcels only, effective immediately upon written notice to Purchaser, in which case this Agreement shall remain in full force and effect with respect to the remaining parcels. If Seller is able to acquire title to
Acquisition Contingency. Landlord has disclosed to Tenant that, as of the date of this Lease, Landlord has not yet acquired title to the Land. Landlord covenants to proceed in good faith to consummate its acquisition of the Land. However, if Landlord does not acquire title to the Land by May 15, 2000 due to (i) a default by the seller thereof under its contract with Landlord which default is not within Landlord's control; or (ii) a good faith failure to satisfy a condition precedent to Landlord's obligation to purchase under such contract, then Landlord may terminate this Lease by notice to Tenant given at any time prior to Landlord's acquisition of such title or June 15, 2000, whichever occurs first, and upon such termination, (a) all prepaid Rent, the Security Deposit and all other amounts theretofore paid by Tenant to Landlord hereunder will be refunded to Tenant; (b) the amount paid by Landlord to Tenant for leasing consultant services pursuant to Section 17.4 will be refunded by Tenant to Landlord; (c) Tenant will have no obligation to reimburse Landlord for any costs incurred by Landlord in designing or constructing the Shell or the Leasehold Improvements; and (d) except as provided above in this Section 17.21, both parties will be relieved of any further obligations hereunder. In addition, if Landlord has not acquired title to the Land by July 31, 2000 for any reason other than a default by Tenant under this Lease, then Tenant may terminate this Lease by notice to Landlord given at any time prior to Landlord's acquisition of such title and, upon the timely giving of such notice, this Lease will terminate in accordance with the foregoing clauses (a) through (d).
Acquisition Contingency. Article XXV of the Lease (Acquisition Contingency) is hereby deleted in its entirety.
Acquisition Contingency. The Parties hereby acknowledge, affirm and understand that as of the Effective Date of this Agreement, Developer has not yet acquired the Property and is not the record owner thereof. As a result, the Parties hereby agree, covenant, and acknowledge that the obligations of the Parties hereunder shall be expressly conditioned upon Developer’s acquisition of the Property and taking record title thereto. In the event that the purchase and sale agreement is terminated and Developer does not acquire the Property, then Developer shall deliver written notice to the County the City and upon delivery thereof, this Agreement shall automatically terminate and the Parties shall be released from any obligations hereunder and any Bond paid shall be promptly returned to Developer.
Acquisition Contingency. Landlord and Tenant hereby agree and acknowledge that this Lease shall be contingent upon the Landlord acquiring fee simple title to the Premises on or before May 4, 2007; provided, however, nothing herein shall be deemed to obligate Landlord to acquire fee simple title to the Premises. In the event that the Landlord does not acquire fee simple title to the Premises on or before May 4, 2007, either party may terminate this Lease upon written notice whereafter this Lease shall terminate and become null and void and all parties hereto shall be relieved of all obligations hereunder.
Acquisition Contingency. Tenant acknowledges and understands that Landlord does not currently hold title to the Property, but that Landlord is currently under contract to purchase the Property. This Lease shall be contingent upon Landlord acquiring title to the Property.
