Common use of Designated Subleases Clause in Contracts

Designated Subleases. (a) With respect to the Goldman Sachs Master Sublease Agreement dated as of January 1, 1990, xxxxexx Xxhland Oil, Inc. and Speedway SuperAmerica LLC and the Pitney Bowes Credit Corporation Master Subcharter Agreement, dated as of Xxxxxry 1, 1998, between Ashland and MAP (each, a "Designated Sublease"), Ashland shall use its reasonable best efforts to (i) purchase or otherwise acquire the property then leased under the Original Lease (as defined in the MAP LLC Agreement) and subleased to MAP pursuant to each Designated Sublease (the "Leased Property") on or prior to the Closing and (ii) upon such purchase or other acquisition, contribute its interest in such Leased Property to MAP or one of its subsidiaries at no cost to MAP or such subsidiary on or prior to the Closing; provided, however, that (A) with respect to any such Original Lease, Ashland shall not be obligated to pay more than a reasonable amount as consideration to, or make more than a reasonable financial accommodation in favor of, or commence litigation against, any person (including in order to obtain any agreement, consent or cooperation of or from such person) in order to purchase or otherwise acquire the related Leased Property as contemplated by, and in accordance with, this Section 12.02(a) and (B) any additional cost associated with exercising an option under any such Original Lease to purchase the related Leased Property as described above shall be deemed not to constitute an obligation to pay more than a reasonable amount.

Appears in 2 contracts

Samples: Master Agreement (Ashland Inc), Master Agreement (Ashland Inc)

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Designated Subleases. (a) With respect to the Goldman Sachs Gxxxxxx Sxxxx Master Sublease Agreement dated as of January 1, 19901998, xxxxexx Xxhland between Ashland Oil, Inc. and Speedway SuperAmerica LLC and the Pitney Bowes Bxxxx Credit Corporation Master Subcharter Agreement, dated as of Xxxxxry January 1, 1998, between Ashland and MAP (each, a "Designated Sublease"), Ashland shall use its reasonable best efforts to (i) purchase or otherwise acquire the property then leased under the Original Lease (as defined in the MAP LLC Agreement) and subleased to MAP pursuant to each Designated Sublease (the "Leased Property") on or prior to the Closing and (ii) upon such purchase or other acquisition, contribute its interest in such Leased Property to MAP or one of its subsidiaries at no cost to MAP or such subsidiary on or prior to the Closing; provided, however, that (A) with respect to any such Original Lease, Ashland shall not be obligated to pay more than a reasonable amount as consideration to, or make more than a reasonable financial accommodation in favor of, or commence litigation against, any person (including in order to obtain any agreement, consent or cooperation of or from such person) in order to purchase or otherwise acquire the related Leased Property as contemplated by, and in accordance with, this Section 12.02(a) and (B) any additional cost associated with exercising an option under any such Original Lease to purchase the related Leased Property as described above shall be deemed not to constitute an obligation to pay more than a reasonable amount.

Appears in 1 contract

Samples: Master Agreement (Marathon Oil Corp)

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Designated Subleases. (a) With respect to the Goldman Sachs Xxxxxxx Xxxxx Master Sublease Agreement dated as of January 1, 19901998, xxxxexx Xxhland between Ashland Oil, Inc. and Speedway SuperAmerica LLC and the Pitney Bowes Xxxxx Credit Corporation Master Subcharter Agreement, dated as of Xxxxxry January 1, 1998, between Ashland and MAP (each, a "Designated Sublease"), Ashland shall use its reasonable best efforts to (i) purchase or otherwise acquire the property then leased under the Original Lease (as defined in the MAP LLC Agreement) and subleased to MAP pursuant to each Designated Sublease (the "Leased Property") on or prior to the Closing and (ii) upon such purchase or other acquisition, contribute its interest in such Leased Property to MAP or one of its subsidiaries at no cost to MAP or such subsidiary on or prior to the Closing; provided, however, that (A) with respect to any such Original Lease, Ashland shall not be obligated to pay more than a reasonable amount as consideration to, or make more than a reasonable financial accommodation in favor of, or commence litigation against, any person (including in order to obtain any agreement, consent or cooperation of or from such person) in order to purchase or otherwise acquire the related Leased Property as contemplated by, and in accordance with, this Section 12.02(a) and (B) any additional cost associated with exercising an option under any such Original Lease to purchase the related Leased Property as described above shall be deemed not to constitute an obligation to pay more than a reasonable amount.

Appears in 1 contract

Samples: Master Agreement (Marathon Oil Corp)

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