Common use of IN LESSEE DEFAULT Clause in Contracts

IN LESSEE DEFAULT. LESSOR HAS FIRST RIGHT TO PURCHASE In the event that Lessee’s lease is terminated by default the Permitted Mortgagee shall be entitled to receive a new lease from the Lessor, providing that the Lessor, prior to providing a new lease, shall have the opportunity to effectuate a purchase of the defaulting Lessee's interest and to satisfy the Lessee’s obligations to the Permitted Mortgagee within sixty (60) days of notice to the Permitted Mortgagee of such default.

IN LESSEE DEFAULT. LESSOR XXXXXX HAS FIRST RIGHT TO PURCHASE In the event that Lessee’s lease is terminated by default the Permitted Mortgagee shall be entitled to receive a new lease from the Lessor, providing that the Lessor, prior to providing a new lease, shall have the opportunity to effectuate a purchase of the defaulting Lessee's interest and to satisfy the Lessee’s obligations to the Permitted Mortgagee within sixty (60) days of notice to the Permitted Mortgagee of such default.

IN LESSEE DEFAULT. LESSOR XXXXXX HAS FIRST RIGHT TO PURCHASE In the event that Lessee’s lease is terminated by default the Permitted Mortgagee shall be entitled to receive a new lease from the Lessor, providing that the Lessor, prior to providing a new lease, shall have the opportunity to effectuate a purchase of the defaulting LesseeXxxxxx's interest and to satisfy the Lessee’s obligations to the Permitted Mortgagee within sixty (60) days of notice to the Permitted Mortgagee of such default.