Common use of Lease Contingencies Clause in Contracts

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. This The obligations of Landlord and Tenant under this Lease is contingent and are expressly conditioned upon and the term hereof shall not commence until the following contingencies shall have been satisfied, unless waived in writing by both Landlord and Tenant: (ai) acquisition of the Retail Development property Landlord shall have obtained all required consents and approvals by the Landlord; it being understood that as existing Mortgagee, Bank of America, N.A. and the date existing Superior Lessor, First Security Bank, N.A. to the execution and delivery of this Lease; (ii) the transaction contemplated in the Asset Purchase Agreement dated September 20, Landlord has only a contractual right 2000 between Tenant and Aviation Sales Distribution Services Company shall have closed; (iii) the Superior Lessor and any mortgagees holding mortgages on the Leased Premises shall have executed and delivered to said property Tenant non-disturbance agreements acceptable to Tenant; and (biv) Tenant shall have obtained the securing by Landlord consent of financing for its lenders to the Retail Development on terms and conditionseffectiveness of this Lease. If the contingencies described in (i), and at a rate of interest and in a loan amount(ii), satisfactory to Landlord in its sole and absolute discretion (both of said conditions (aiii) and (biv) being herein collectively referred above are not satisfied or waived by December 15, 2000, either Landlord or Tenant may elect to as terminate this Lease by written notice to the "other, in which event neither party shall have any further obligations hereunder. This Lease Contingencies")shall automatically terminate upon the termination of the Asset Purchase Agreement, in which event neither party shall have any further obligations hereunder. In The closing of the event transactions under the foregoing Asset Purchase Agreement shall be deemed a waiver by Landlord and Tenant of the conditions to commencement of this Lease Contingencies have not been satisfied on or before December 31, 1999, then Landlord shall thereafter have and 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 all as provided in recordable form containing a release and surrender of all right, title and interest in and to this LeaseSection 32."

Lease Contingencies. This Notwithstanding any terms and conditions of this Lease is to the contrary, this Lease shall be contingent and conditioned upon (ai) acquisition Landlord and the existing tenant of the Retail Development property by Premises (the Landlord; it being understood that as “Existing Tenant”) executing a termination agreement of the date of this Lease, Landlord has only a contractual right to said property and (b) the securing by Landlord of financing existing lease for the Retail Development Premises (the “Existing Tenant Termination Agreement”) on terms and conditions, and at a rate of interest and in a loan amount, satisfactory conditions mutually agreeable to Landlord in its sole and absolute discretion with all contingencies thereto satisfied (both of said conditions (a) the “Lease Termination Condition”); and (bii) being herein collectively referred to as the "written approval of this Lease Contingencies"by Landlord’s lender (the “Lender Approval Condition”). In the event the foregoing Lease Contingencies have not been satisfied If, on or before December 31, 1999, then Landlord shall thereafter have the right to terminate and cancel this Lease upon date that is thirty (30) days prior from the Effective Date, the Lender Approval Condition has not been satisfied, then Landlord shall have the right to cancel this Lease on fifteen (15) days’ written notice to Tenant. If Tenant (the “Landlord Cancellation Notice”), and on the date which is fifteen (15) days after the giving of such Landlord Cancellation Notice, this Lease Contingencies shall be satisfied deemed cancelled and of no further force or effect and neither party shall have any liability or obligation to the other in respect thereof. Notwithstanding the foregoing, if prior to the expiration effective date of such termination by Landlord, the aforesaid thirty (30) day notice periodLease Termination Condition and the Lender Approval Condition have been satisfied, then the notice to terminate and cancel Landlord Cancellation Notice shall be voided deemed null and void and this Lease shall remain continue 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."109