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Effect of Termination of Lease Term Sample Clauses

Effect of Termination of Lease TermUpon termination of the Lease Term: (a) All unaccrued obligations of School hereunder shall terminate, but all obligations of School that have accrued hereunder prior to such termination shall continue until they are discharged in full; and (b) If the termination occurs because of the occurrence of an Event of Default, School's right to possession of the Premises hereunder shall terminate and (i) School shall, within ninety (90) days, vacate the Premises; and (ii) if and to the extent the Board has appropriated funds for payment of Base Rent, Monthly Fixed Reimbursable Expenses and other Additional Rent payable during the Lease Term prior to termination, and with respect to School's use of the Premises during the period between termination of the Lease Term and the date the Premises are vacated, School shall pay such Base Rent, Monthly Fixed Reimbursable Expenses and other Additional Rent to Landlord. (c) If the termination occurs because of the occurrence of an Event of Nonappropriation or the nonrenewal of School's charter, the termination shall be effective as of the last day of the then current Fiscal Year or upon the effective date of the revocation of School's charter in the case of revocation.
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Effect of Termination of Lease Term. Upon termination of the Lease Term: (a) All unaccrued obligations of School hereunder shall terminate, but all obligations of School that have accrued hereunder prior to such termination shall continue until they are discharged in full; and (b) If the termination occurs because of the occurrence of an Event of Default, School's right to possession of the Premises hereunder shall terminate and (i) School shall, within ninety
Effect of Termination of Lease Term. Upon termination of the Lease Term: (a) All unaccrued obligations of the County hereunder shall terminate, but all obligations of the County that have accrued hereunder prior to such termination shall continue until they are discharged in full; and (b) If the termination occurs because of the occurrence of an Event of Nonappropriation or an Event of Default, the County’s right to possession of the Leased Property hereunder shall terminate and (i) the County shall, within 90 days, vacate the Leased Property; and (ii) if and to the extent the County has appropriated funds for payment of Base Rentals and Additional Rentals payable during, or with respect to the County’s use of the Leased Property during, the period between termination of the Lease Term and the date the Leased Property is vacated pursuant to clause (i), the County shall pay such Base Rentals and Additional Rentals to the Trustee or, in the case of Additional Rentals, the other Person entitled thereto.
Effect of Termination of Lease TermUpon termination of the Lease (a) All unaccrued obligations of the City hereunder shall terminate, but all obligations of the City that have accrued hereunder prior to such termination shall continue until they are discharged in full; and (b) If the termination occurs because of the occurrence of an Event of Nonappropriation or an Event of Default, the City’s right to possession of the Leased Property hereunder shall terminate and (i) the City shall, within 45 days, (A) vacate the Site Leased Property and the Improvements and (B) deliver the Equipment to the Trustee at the location at which it is being used; and (ii) if and to the extent the Council has appropriated funds for payment of Base Rentals and Additional Rentals payable during, or with respect to the City’s use of the Leased Property during, the period between termination of the Lease Term and the date the Site Leased Property and Improvements are vacated and the Equipment is delivered to the Trustee pursuant to clause (i), the City shall pay such Base Rentals and Additional Rentals to the Trustee or, in the case of Additional Rentals, the other Person entitled thereto.
Effect of Termination of Lease TermUpon termination of the Lease (a) All unaccrued obligations of the District hereunder shall terminate, but all obligations of the District that have accrued hereunder prior to such termination shall continue until they are discharged in full; and (b) If the termination occurs because of the occurrence of an Event of Nonappropriation or an Event of Default, the District’s right to possession of the Leased Property hereunder shall terminate and (i) the District shall, within 90 days, (A) vacate the Leased Property; and (B) execute all documents necessary to transfer the District’s rights as lessee under this Lease to the Trustee; and (ii) if and to the extent the Board has appropriated funds for payment of Base Rent and Additional Rent payable during the Lease Term or, with respect to the District’s use of the Leased Property, during the period between termination of the Lease Term and the date the Leased Property is vacated pursuant to clause (i), the District shall pay such Base Rent and Additional Rent in accordance with this Lease.
Effect of Termination of Lease Term. Upon termination of the Lease Term: (a) All unaccrued obligations of School hereunder shall terminate, but all obligations of School that have accrued hereunder prior to such termination shall continue until they are discharged in full; and (b) If the termination occurs because of the occurrence of an Event of Default, School’s right to possession of the Premises hereunder shall terminate and (1) School shall, within 90 days, vacate the Premises; and (2) until School vacates the Premises, it shall pay Base Rent to Landlord. (c) If the termination occurs because of the occurrence of an Event of Nonappropriation or the nonrenewal of School’s charter, the termination shall be effective as of the last day of the then current Fiscal Year or upon the effective date of the revocation of School’s charter in the case of revocation.
Effect of Termination of Lease Term. Upon expiration or termination of the Lease Term: (a) All obligations of the Lessee or Lessor hereunder shall terminate. Any accrued, but unpaid obligations of the Lessee or Lessor shall continue until they are discharged in full unless the termination is a result of revocation of the Lessee’s charter in which event all obligations of the Lessee shall terminate on June 30 of that year; and (b) If the termination occurs because of the occurrence of an Event of Nonappropriation, or an Event of Default, (i) Lessee shall, on or before June 30 of the year in which the Event of Nonappropriation or Event of Default occurs (1) vacate the Leased Property and (2) deliver the Leased Property to the Lessor; and (ii) if and to the extent the Lessee has appropriated funds for payment of Base Rentals payable during the period between termination of the Lease and the date the Leased Property is vacated, the Lessee shall pay such Base Rentals to the Lessor.
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Related to Effect of Termination of Lease Term

  • Termination of Lease (a) Landlord and Tenant hereby agree that, effective as of the Termination Date, the Lease and the term thereof shall terminate and expire, and Tenant’s estate in and right of possession to the Premises shall terminate and be wholly extinguished, as if said Termination Date was originally set forth in the Lease as the expiration date thereunder. Effective as of the Termination Date, neither Landlord nor Tenant shall have any further rights or obligations under the Lease, except as provided in this Agreement. Effective as of the Termination Date, Landlord and Tenant for themselves and their predecessors-in-interest, successors and assigns, do hereby release and forever discharge each other, their successors and assigns, from all actions, causes of action, sums of money, covenants, agreements, promises, damages, judgments, claims and demands whatsoever in law or in equity which each against the other ever had, now has, or which they or their respective predecessors, successors or assigns hereafter may have, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world through the Termination Date arising out of or in connection with the Lease or the Premises, or the Building; provided that (A) neither party shall be released from any of its obligations under this Agreement (and this Agreement shall survive the termination of the Lease), (B) neither Landlord or Tenant shall be released from any indemnification obligations that accrued under the Lease prior to the Termination Date and (C) the provisions of Section 8.13 and Section 8.21 of the Lease shall survive the termination of the Lease. Effective as of the Termination Date, Landlord shall be entitled to lease the Premises to any person or entity, or take any other action with respect thereto, free from any claim of Tenant or any person or entity claiming through Tenant. (b) On or prior to the Termination Date, Tenant agrees to surrender unto Landlord and its successors and assigns, and Landlord agrees to accept, the Premises in its “as is” condition. (c) In consideration of this Agreement and the termination of the Lease, Tenant agrees to permit the letter of credit in the amount of $8,698,662.00 issued by Citibank, N.A. (the “Letter of Credit”) which Letter of Credit Landlord is presently holding as security under the Lease, to be drawn down for the payment of the following sums: (i) $7,800,000.00 (the “Termination Fee”) to be drawn down and paid to Landlord in consideration of the termination of the Lease and the other transactions contemplated by this Agreement; and (ii) $898,662.00, representing the balance of the proceeds of the Letter of Credit shall be paid to Tenant. Tenant hereby authorizes Landlord to draw on the Letter of Credit and the entire proceeds of the Letter of Credit (the “Proceeds”) and Landlord agrees to deliver Tenant’s share of the Proceeds described in clause (ii) above to Tenant’s bank account within three (3) Business Days of Landlord’s receipt of the entire Proceeds in accordance with Tenant’s wire instructions attached hereto as Exhibit A. Except as otherwise set forth in this Agreement, it is agreed that in no event shall Tenant at any time be entitled to receive any other sums from Landlord in connection with the Lease, including, without limitation, all or any portion of the Work Allowance or any reimbursement of any amounts previously paid by Tenant to Landlord in connection with the construction of the Terrace Space. Contemporaneously herewith, Landlord shall deliver a sight draft to the issuer of the Letter of Credit in order to obtain payment of the Proceeds, which sight draft shall provide for the Proceeds to be paid to Landlord’s bank account, as designated by Landlord. Tenant hereby agrees to cooperate with Landlord and execute any and all documents required by the issuing bank in order to facilitate Landlord’s efforts to draw down on the Proceeds of the Letter of Credit. The effectiveness of the surrender and termination provided for in this Agreement is subject to, and conditioned upon, Landlord’s receipt of the Termination Fee in accordance with the terms hereof. If Landlord does not receive the Termination Fee in accordance with the terms hereof, then the termination of the Lease shall automatically be null and void and of no further force or effect and the Lease shall continue in full force and effect as if this Agreement had never been entered into. (d) Tenant shall be responsible for, and shall indemnify Landlord for, any and all transfer taxes, sales taxes or other taxes or similar charges imposed by any federal, state or local governmental authority or under any Law arising from or relating to this Agreement, the Termination Fee or any of the other transactions hereunder. Tenant will execute and deliver to Landlord a New York State Form TP 584 and a New York City Form RPT. (e) Landlord and Tenant agree that the disgorgement of any portion of the Termination Fee or the avoidance in whole or in part of this Agreement, under any applicable law, including, but not limited to, chapter 5 of title 11 of the United States Code (the "Bankruptcy Code"), shall be considered a breach of this Agreement by Tenant and shall entitle Landlord to seek the full amount of the Obligations and any other damages to which Landlord is entitled under the Lease from Tenant resulting from the breach of this Agreement.

  • Effect of Termination of Agreement Upon the Termination Date or the Expiration Date, as applicable, any amounts then owing by a Party to the other Party shall become immediately due and payable and the then future obligations of Customer and Provider under this Agreement shall be terminated (other than the indemnity obligations set forth in Section 13). Such termination shall not relieve either Party from obligations accrued prior to the effective date of termination or expiration.

  • Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.

  • Termination and Effect of Termination This Agreement shall terminate upon the date on which no Holder holds any Registrable Securities, except for the provisions of Sections 3.9 and 3.10, which shall survive any such termination. No termination under this Agreement shall relieve any Person of liability for breach or Registration Expenses incurred prior to termination. In the event this Agreement is terminated, each Person entitled to indemnification rights pursuant to Section 3.9 hereof shall retain such indemnification rights with respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such termination.

  • Effect of Termination Notice Where Network Rail or the Train Operator has served a Termination Notice on the other: (a) the service of the Termination Notice shall not affect the parties’ continuing obligations under this contract up to the date of termination, which date shall be determined in accordance with paragraph 3.4(c); (b) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied; and (c) this contract shall terminate on the later of: (i) the date and time specified in the Termination Notice for the contract to terminate (or such later date and time as the party which served the Termination Notice notifies to the other before the date and time so specified); and (ii) the date on which a copy of the Termination Notice is given to XXX.

  • Termination of Leave Interruption of pregnancy will terminate the leave. Human Resources may require in such cases forty-five (45) days’ notice to return.

  • Effect of Termination and Abandonment In the event of termination of this Agreement and the abandonment of the Merger pursuant to this Article VIII, no party to this Agreement shall have any liability or further obligation to any other party hereunder except (a) as set forth in Sections 8.03 and 9.01 and (b) that termination will not relieve a breaching party from liability for any willful breach of this Agreement giving rise to such termination.

  • Termination Effect of Termination 41 Section 8.01. Termination............................................................. 41 Section 8.02. Effect of Termination................................................... 42

  • Termination of Master Lease If the Sublessor terminates their tenancy in the Premises under the Master Lease, the Sublessee agrees that if the Master Lease is terminated for any reason, this Agreement will terminate as of the same date.

  • Effect of Termination Survival If the Service Agreement is terminated, the Provider shall destroy all of LEA’s Student Data pursuant to Article IV, section 6.

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