Common use of Consolidation of Lessor Clause in Contracts

Consolidation of Lessor. In the event Lessor consolidates with another municipality effective before November 30, 2044 and this Lease is still in effect, the rights and privileges accorded to Lessor’s residents under this Lease shall continue as to those persons residing within the boundaries of the Lessor as they existed as of January 1, 2015. In the event Lessor consolidates with another municipality effective before November 30, 2044 and provided Lessee shall not be in default at the time of exercise and at the time of extension, beyond any applicable cure periods, Lessee shall have the option to extend the term of Lease for one (1) additional extended term of ten (10) years through December 1, 2054. If Lessee elects to exercise this option to extend this Lease, the Lessee shall provide Lessor with written notice of Xxxxxx’s exercise of this option no later than thirty (30) days after the effective date of such consolidation of Lessor. If Lessee fails to provide such notice, Xxxxxx’s option to extend the term shall be null and void. During any such additional extension term, the terms and conditions of this Lease shall remain the same, except as may be otherwise agreed by the parties. In the event Lessor consolidates with another municipality effective before November 30, 2044 and this Lease is still in effect and provided Lessee shall not be in default at the time of exercise and at the time of termination, Lessee shall have the option to terminate this Lease. If Lessee elects to exercise this option to terminate the Lease, the Lessee shall provide Lessor with written notice of Xxxxxx’s exercise of this option at least one year prior to the effective date of such termination.

Consolidation of Lessor. In the event Lessor consolidates with another municipality effective before November 30, 2044 and this Lease is still in effect, the rights and privileges accorded to Lessor’s residents under this Lease shall continue as to those persons residing within the boundaries of the Lessor as they existed as of January 1, 2015. In the event Lessor consolidates with another municipality effective before November 30, 2044 and provided Lessee shall not be in default at the time of exercise and at the time of extension, beyond any applicable cure periods, Lessee shall have the option to extend the term of Lease for one (1) additional extended term of ten (10) years through December 1, 2054. If Lessee elects to exercise this option to extend this Lease, the Lessee shall provide Lessor with written notice of XxxxxxLessee’s exercise of this option no later than thirty (30) days after the effective date of such consolidation of Lessor. If Lessee fails to provide such notice, XxxxxxLessee’s option to extend the term shall be null and void. During any such additional extension term, the terms and conditions of this Lease shall remain the same, except as may be otherwise agreed by the parties. In the event Lessor consolidates with another municipality effective before November 30, 2044 and this Lease is still in effect and provided Lessee shall not be in default at the time of exercise and at the time of termination, Lessee shall have the option to terminate this Lease. If Lessee elects to exercise this option to terminate the Lease, the Lessee shall provide Lessor with written notice of XxxxxxLessee’s exercise of this option at least one year prior to the effective date of such termination.