Lease Termination Prior to Closing Sample Clauses

Lease Termination Prior to Closing. The bankruptcy or default of any Tenant or the termination of any Lease or New Lease or the removal of any Tenant by reason of a default by such Tenant (by summary proceedings or otherwise) or by operation of the terms of such Lease or New Lease shall not affect the obligations of Buyer under this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Buyer.
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Lease Termination Prior to Closing. The termination of any Lease or New Lease or the removal of any tenant by reason of a default by such tenant (by summary proceedings or otherwise) prior to the Closing shall not affect the obligations of Buyer under this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Buyer against Seller.
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Lease Termination Prior to Closing. The termination of any Lease or New Lease or the removal of any tenant by reason of a default by such tenant (by summary proceedings or otherwise) prior to the Closing shall not affect the obligations of Meridian under this Agreement in any manner or entitle Meridian to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Meridian.
Sample 1
Lease Termination Prior to Closing. The termination of any Lease or ---------------------------------- New Lease or the removal of any tenant by reason of a default by such tenant (by summary proceedings or otherwise) prior to the Closing shall not affect the obligations of REIT OP under this Agreement in any manner or entitle REIT OP to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Buyer.
Sample 1
Lease Termination Prior to Closing. The bankruptcy or default of any Tenant or the termination of any Lease or the removal of any Tenant by reason of a default by such Tenant (by summary proceedings or otherwise) or by operation of the terms of such Lease shall not affect the obligations of Buyer under this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other Claim on the part of Buyer; provided, that, if a voluntary or involuntary filing is made with respect to a Tenant under the federal bankruptcy laws after the Second Deposit Date and prior to the Closing Date (a "Tenant Bankruptcy Event"), and the Tenant to which such Tenant Bankruptcy Event relates occupies space contributing more than 50% of the total gross revenue received in respect of a Property, then the Buyer may, at its option to be exercised by notice to such Seller within five (5) Business Days of Seller's notice to the Buyer of the occurrence of such Tenant Bankruptcy Event, elect not to purchase such Property under this Agreement. If Buyer so elects not to purchase a Property pursuant to this Section 7.5 and the Buyer is not then in default under this Agreement, then Buyer shall be entitled to reduce the Purchase Price by the amount of the Allocated Purchase Price set forth next to such Property on Exhibit A and neither party shall have any further rights or obligations under this Agreement with respect to such Property, other than those expressly stated to survive the termination of this Agreement. If the Buyer does not elect, pursuant to this Section 7.5, not to purchase a Property, the Buyer shall be obligated to consummate the purchase of all the Properties for the full Purchase Price as required by the terms hereof. The Sellers shall give the Buyer prompt written notice of the occurrence of any Tenant Bankruptcy Event prior to the Closing Date or termination of this Agreement.
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Lease Termination Prior to Closing. Except as otherwise expressly provided in SECTION 3.1(f), the bankruptcy or default of any Non-Anchor Tenant or the termination of any Lease of a Non-Anchor Tenant or New Lease or the removal of any Non-Anchor Tenant by reason of a default by such Tenant (by summary proceedings or otherwise) or by operation of the terms of such Lease or New Lease shall not affect the obligations of Buyer under this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Buyer.
Sample 1
Lease Termination Prior to Closing. The termination of any Lease or New Lease or the removal of any tenant by reason of a default by such tenant (by summary proceedings or otherwise) prior to the Closing shall not affect the obligations of Buyer under this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Buyer, unless such termination is of a Major Tenant, in which event the Buyer shall have the election (if exercised in writing within three (3) business days after written notice of any such termination is provided to Buyer by Seller) to terminate this Agreement and receive the Deposit.
Sample 1
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Lease Termination Prior to Closing. Except as set forth in Section 5.1.4, the bankruptcy or default of any Tenant or the termination of any Lease or the removal of any Tenant by reason of a default by such Tenant (by summary proceedings or otherwise) or by operation of the terms of such Lease (including expiration) shall not affect the obligations of Buyer under this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other Claim on the part of Buyer. The termination in part of the lease between Xxxxxxx Xxxxxx & Xxxxxxxxx, C.P.A.S., L.L.C. (“Xxxxxxx”) and MBCR (the “Xxxxxxx Lease”) shall not affect the obligations of Buyer under this Agreement in any manner, as Mercantile-Safe Deposit and Trust Company and Xxxxxxx LLP each have entered into agreements with Xxxxxxx to assume portions of the premises currently leased under the Xxxxxxx Lease (with the exception of the approximately 10,763 square feet sublet by Xxxxxxx to Adelberg, Rudlow, Dorf & Xxxxxxx, LLC, which shall remain subject to the terms and conditions of the Xxxxxxx Lease) as set forth in greater detail in Section 15.19 and Exhibit J hereof..
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Related to Lease Termination Prior to Closing

  • Termination Prior to Closing This Agreement may be terminated at any time prior to the Closing:

  • COVENANTS PRIOR TO CLOSING 37 7.1 Access and Cooperation; Due Diligence...........................37 7.2 Conduct of Business Pending Closing.............................38 7.3

  • ACTION PRIOR TO THE CLOSING DATE The respective parties hereto covenant and agree to take the following actions between the date hereof and the Closing Date:

  • Events Prior to Closing (a) Upon execution hereof or as soon thereafter as practical, management of AAI and QMT shall execute, acknowledge and deliver (or shall cause to be executed, acknowledged and delivered) any and all certificates, opinions, financial statements, schedules, agreements, resolutions, rulings or other instruments required by this Agreement to be so delivered, together with such other items as may be reasonably requested by the parties hereto and their respective legal counsel in order to effectuate or evidence the transactions contemplated hereby, subject only to the conditions to Closing referenced hereinbelow.

  • Operations Prior to the Closing Date (a) Seller shall use its commercially reasonable efforts to, and to cause the Companies to, operate and carry on the Business in the ordinary course and substantially as operated immediately prior to the date of this Agreement. Consistent with the foregoing, Seller shall use its commercially reasonable efforts, and shall cause the Companies to use their commercially reasonable efforts, consistent with good business practice, to preserve the goodwill of the suppliers, contractors, licensors, employees, customers, distributors and others having business relations with the Business.

  • Actions Prior to Closing From the date hereof until the Closing Date, Contributor shall not take any action or fail to take any action the result of which could (1) have a material adverse effect on the Contributed Interests or the Operating Partnership’s ownership thereof, or any Material Adverse Effect on any Contributed Entity or Property after the Closing Date or (2) cause any of the representations and warranties contained in this Section 2.2 to be untrue as of the Closing Date.

  • Operations Prior to Closing Between the date of the execution of this Agreement and Closing:

  • OBLIGATIONS PRIOR TO CLOSING From the date of this Agreement through the Closing:

  • Covenants of Buyer Prior to Closing Date Between the date of this Agreement and the Closing Date, Buyer will use its Best Efforts to cause the conditions in Section 8 to be satisfied.

  • Term and Effect Prior to Change in Control (a) Except as otherwise provided herein, the term of this Agreement shall include: (i) the period commencing on the Effective Date and ending December 31, 2023, plus (ii) any and all extensions of the term made pursuant to paragraphs (b) and (c) of this Section 4 (the “Term”).

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