Common use of IF LESSOR TERMINATES LEASE Clause in Contracts

IF LESSOR TERMINATES LEASE. If the Lessor elects to terminate the lease, then the Permitted Mortgagee shall have the right to postpone and extend the specified date for the termination of the lease for a period sufficient to enable the Permitted Mortgagee or its designee to acquire Lessee’s interest in the Leasehold by foreclosure of its mortgage or otherwise.

IF LESSOR TERMINATES LEASE. If the Lessor elects to terminate the lease, then the Permitted Mortgagee shall have the right to postpone and extend the specified date for the termination of the lease for a period sufficient to enable the Permitted Mortgagee or its designee to acquire LesseeXxxxxx’s interest in the Leasehold by foreclosure of its mortgage or otherwise.