Common use of Bankruptcy of Lessee Clause in Contracts

Bankruptcy of Lessee. The provisions of paragraph C and E Section 13.01 above shall only apply with respect to the Lessee which is the then owner of the leasehold estate. Notwithstanding the provisions of Section 13.01 to the contrary, the happening of any of the Events of Default mentioned in paragraph C or E of Section 13.01 above shall not operate or permit Lessor to declare a default hereunder or terminate this Lease so long as all covenants of Lessee hereunder shall be performed by Lessee or its successor in interest or a Leasehold Mortgagee in accordance with the terms of this Lease.

Appears in 3 contracts

Samples: Ground Lease Agreement (FFP Marketing Co Inc), Lease Agreement (FFP Partners L P), Building Lease Agreement (FFP Marketing Co Inc)

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Bankruptcy of Lessee. The provisions of paragraph C and E of Section 13.01 above shall only apply with respect to the Lessee which is the then owner of the leasehold estate. Notwithstanding the provisions of Section 13.01 to the contrary, the happening of any of the Events of Default mentioned in paragraph C or E of Section 13.01 above shall not operate or permit Lessor to declare a default hereunder or terminate this Lease so long as all covenants of Lessee hereunder shall be performed by Lessee or its successor in interest or a Leasehold Mortgagee in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Building Lease Agreement (FFP Marketing Co Inc)

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Bankruptcy of Lessee. The provisions of paragraph C and E of Section 13.01 above shall only apply with respect to the Lessee which is the then owner of the leasehold estate. Notwithstanding the provisions of Section 13.01 to the contrary, the happening of any of the Events of Default mentioned in paragraph C or E of Section 13.01 above shall not operate or permit Lessor to declare a default hereunder or terminate this Lease so long as all covenants of Lessee hereunder shall be performed by Lessee or its successor in interest or a Leasehold Mortgagee in accordance with the terms of this Leaseinterest.

Appears in 1 contract

Samples: Master Lease Agreement (FFP Partners L P)

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