Lease Contingencies. This Lease is contingent and conditioned upon (a) acquisition of the Retail Development property by the Landlord; it being understood that as of the date of this Lease, Landlord has only a contractual right to said property and (b) the securing by Landlord of financing for the Retail Development on terms and conditions, and at a rate of interest and in a loan amount, satisfactory to Landlord in its sole and absolute discretion (both of said conditions (a) and (b) being herein collectively referred to as the "Lease Contingencies"). In the event the foregoing Lease Contingencies have not been satisfied on or before December 31, 1999, then Landlord shall thereafter have the right to terminate and cancel this Lease upon thirty (30) days prior written notice to Tenant. If the Lease Contingencies shall be satisfied prior to the expiration of the aforesaid thirty (30) day notice period, then the notice to terminate and cancel shall be voided and this Lease shall remain in full force and effect. In the event of termination of this Lease as herein provided, this Lease shall cease and come to an end, Landlord shall reimburse Tenant for any advance Rent paid, and there shall thereupon be no further liability or obligations upon either party under or with respect to this Lease. Each party will, at the other's request, execute an instrument in recordable form containing a release and surrender of all right, title and interest in and to this Lease."
Lease Contingencies. A. Lessee shall bear the responsibility for seeking any zoning change requests or conditional use permits sought from the Municipality of Anchorage, or other permits or authorizations sought from any governmental or regulatory agency. Xxxxxx will also be responsible for obtaining and recording a written release from the Municipality of Anchorage to terminate the Deed Restriction of August 23, 2013, recorded August 28, 2013 in the Anchorage Recording District as Document 2013-049-077-0. Lessor will cooperate on and support Xxxxxx’s efforts under this subsection, including allowing Lessee (upon request to Lessor) to allow the applications to be filed on behalf of Lessor; but Lessee is to bear the financial costs of such applications and approvals. In the event that Xxxxxx is unable to obtain such authorizations within one year of the effective date of this Lease, either Lessor or Lessee may terminate this Lease upon 60 days’ notice and thereby be absolved of all obligations thereunder which have not accrued as of the 60th day. Each party shall bear all out-of-pocket costs respectively incurred and have no further prospective obligation under the Lease past that 60th day as long as the parties have acted in good faith.
B. Lessee is not obligated by this lease to arrange for any environmental assessments, but if Xxxxxx chooses to do so, Lessee shall bear the responsibility for doing so, including all costs. Lessor will cooperate on and support Xxxxxx’s efforts under this subsection, but Lessee is to bear all financial costs of such assessments. Lessee shall supply Lessor with copies of all written environmental assessments produced under this subsection. In the event that Xxxxxx concludes that the results of its environmental assessments make the initiation of Xxxxxx’s Development Plan infeasible, Lessee will notify Lessor. Thereafter, either party may terminate this lease upon 60 days’ notice and thereby be absolved of all obligations thereunder which have not accrued as of the 60th day. Each party shall bear all out-of-pocket costs respectively incurred and have no further prospective obligation under the Lease past that 60th day as long as the parties have acted in good faith.
Lease Contingencies. This Lease shall be conditioned and contingent upon the occurrence of the following event: within ten (10) days from the Effective Date hereof, Landlord's mortgagee(s) and other lenders have approved this Lease and the Tenant (including but not limited to Tenant's financial condition).
Lease Contingencies. Notwithstanding any language to the contrary in this Lease, Tenant acknowledges and agrees that if this Lease is executed and delivered prior to its approval by Master Landlord that the continued effectiveness of this Lease is conditioned on receipt of the written approval of this Lease by Master Landlord through the Board of County Commissioners or its designated representative, and such approval is not subject to any appeal or other contest. In the course of obtaining Master Xxxxxxxx’s approval of this Lease, Landlord and Tenant shall jointly address any concerns raised by Master Landlord’s designated representative and reasonably cooperate in amending this Lease, if needed, so as to obtain such approval as soon as practicable. Any delay in obtaining Master Xxxxxxxx’s written approval of this Lease shall constitute a Force Majeure event. Notwithstanding any language to the contrary in this Lease, Tenant acknowledges and agrees that if this Lease is executed and delivered prior to the Approval Date (as defined in the Master Lease) and prior to the full execution and delivery of the Master Lease, that the continued effectiveness of this Lease is conditioned on the occurrence of the Approval Date (and such approval is not subject to any appeal or other contest) and on the full execution and delivery of the Master Lease.
Lease Contingencies. 29 49. ASSOCIATION.......................................................29
Lease Contingencies. In addition to the contingencies set forth in Section 5 of the attached Purchase and Sale Agreement, the Buyer's obligation to purchase the Property shall be contingent on the full execution of a Lease between Seller and Noetix Corporation ("Noetix") in substantially the form attached hereto as Exhibit B (the "Noetix Lease"), prior to the end of the contingency period set forth in Section 5 above.
Lease Contingencies. If any one of the following does not occur, this Lease shall be null and void and neither the Landlord nor the Tenant shall have any further obligation to the other and neither shall be liable to the other for any damages:
a. Approval by the Utilities Commission for Landlord or its designee to become qualified to operate private utilities for a spray irrigation septic field to both the Center and the Outparcels and by the Division of Water Quality for the well; and issuance of the appropriate permits to provide the capacity needed for the Shopping Center and the Outparcels; or
b. Approval of this Lease by Landlord’s lender; or
c. Applicable regulatory approvals for the Bank of Oak Ridge to operate within Oak Ridge Commons.
Lease Contingencies. Tenant shall have the right to terminate this Lease (and receive a refund of the Security Deposit) in the event any of the following contingencies have not been satisfied or waived by Tenant within thirty (30) days from the full execution of this Lease by the parties (the “Due Diligence Period”):
Lease Contingencies. 36 37. Landlord's Lien ....................................................... 37 38. Tenant's Financial Condition .......................................... 38 39. Tenant's Work ......................................................... 38 39.1 General 39.2 (Deleted) 39.3 Landlord's Contribution
Lease Contingencies. The rights and obligations of the parties under this Lease shall be contingent upon the next listed Lease Contingency. For each Lease Contingency, if a valid, written Termination Notice is timely received on or before 4:00 p.m. on the Contingency Date, then this Lease shall terminate without further recourse in the parties hereto. If a valid Termination Notice is not timely received by the Contingency Date, then the right to terminate this Lease shall be deemed waived and expired.
