Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease by giving written notice to the other within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 7 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable Unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice Notice to the other Lessor within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five (5) days after the date of such noticenotice and the parties shall have no further liabilities or obligations hereunder, except as expressly stated in this Lease to survive such termination.
Appears in 2 contracts
Samples: Lease Agreement (American General Hospitality Corp), Lease Agreement (Capstar Hotel Co)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 this Article 14 appearing to the contrary, if damage to or destruction of the any Facility rendering renders it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease with respect to such Facility by giving written notice Notice to the other within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Accrued Rent with respect to such Facility shall be paid immediately, and this Lease shall automatically terminate with respect to such Facility five (5) days after the date of such noticeNotice.
Appears in 2 contracts
Samples: Lease Agreement (Sunstone Hotel Investors, Inc.), Lease Agreement (Hammons John Q Hotels Inc)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twenty-four (24) months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice to the other Lessor within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 2 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease by giving written notice to the other within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 2 contracts
Samples: Lease Agreement (Humphrey Hospitality Trust Inc), Lease Agreement (Humphrey Hospitality Trust Inc)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twenty-four (24) months of the Term, and such damage or destruction cannot be repaired or restored within the earlier of (i) twelve (12) months, or (ii) the expiration of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice to the other Lessor within 30 60 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Realty Refund Trust), Percentage Lease Agreement (Boykin Lodging Trust Inc)
Damage Near End of Term. Notwithstanding any provisions of Section SECTION 14.2 or OR 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twenty-four (24) months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice to the other Lessee within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 2 contracts
Samples: Lease Agreement (Capital Lodging), Lease Agreement (Ashford Hospitality Trust Inc)
Damage Near End of Term. Notwithstanding any provisions of Section ----------------------- 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease by giving written notice to the other within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
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Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing anything to the contrarycontrary contained in this Lease, if the damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twelve (12) months of the Term, then either party during the first thirty (30) days following such damage or destruction, upon ten (10) days' prior written notice to the other party, Tenant or Landlord shall have the right to terminate this Lease by giving written notice to Lease, and all rights hereunder shall cease and terminate ten (10) days after receipt of the other within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of parties such notice.
Appears in 1 contract
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twenty (24) months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice to the other Lessee within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five (5) days after the date of such notice.
Appears in 1 contract
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 this Article 12 appearing to the contrary, if damage to or destruction of the any Facility rendering renders it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease with respect to such Facility by giving written notice Notice to the other within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Accrued Rent with respect to such Facility shall be paid immediately, and this Lease shall automatically terminate with respect to such Facility five (5) days after the date of such noticeNotice.
Appears in 1 contract
Damage Near End of Term. Notwithstanding any provisions of Section ----------------------- ------- 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the ---- ---- Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease by giving written notice to the other within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 1 contract
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twelve (12) months of the Term, then either party Tenant shall have the right to terminate this Lease by giving written notice to the other Tenant within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 1 contract
Samples: Agreement of Lease (American Realty Capital Hospitality Trust, Inc.)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 SECTION 13.2 OR 13.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 twenty-four (24) months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice to the other Lessee within 30 thirty (30) days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 1 contract
Damage Near End of Term. Notwithstanding any provisions of ----------------------- Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 months of the TermTerm which renders it Unsuitable for its Primary Intended Use, then either party Tenant shall have the right to terminate this Lease by giving written notice to the other Landlord within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 1 contract
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party shall have the right to terminate this Lease by giving written notice Notice to the other within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such noticeNotice.
Appears in 1 contract
Samples: Revolving Credit Agreement (Sunstone Hotel Investors Inc)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering renders it unsuitable for its Primary Intended Use occurs during the last 24 12 months of the Term, then either party the Lessee shall have the right to terminate this the Lease by giving written notice to the other Lessor within 30 days after the date occurrence of damage or destructionsuch event, whereupon all accrued secured Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 1 contract
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable Unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice Notice to the other Lessor within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five (5) days after the date of such notice.notice and the parties shall have no further liabilities or obligations hereunder, except as expressly stated in this Lease to survive such termination. -50- 141 ARTICLE XV
Appears in 1 contract
Samples: Purchase and Sale Agreement (Prime Hospitality Corp)
Damage Near End of Term. Notwithstanding any provisions of ----------------------- Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it unsuitable Unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice Notice to the other Lessor within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five (5) days after the date of such noticenotice and the parties shall have no further liabilities or obligations hereunder, except as expressly stated in this Lease to survive such termination.
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
Damage Near End of Term. Notwithstanding any provisions of Section 14.2 or 14.3 appearing to the contrary, if damage to or destruction of the Facility rendering it the Facility unsuitable for its Primary Intended Use occurs during the last 24 months of the Term, then either party Lessee shall have the right to terminate this Lease by giving written notice to the other Lessor within 30 days after the date of damage or destruction, whereupon all accrued Rent shall be paid immediately, and this Lease shall automatically terminate five days after the date of such notice.
Appears in 1 contract
Samples: Lease Agreement (Host Funding Inc)