Common use of Lease Termination Prior to Closing Clause in Contracts

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.

Appears in 6 contracts

Samples: Agreement of Purchase and Sale (Spieker Properties Inc), Agreement of Purchase and Sale (Brandywine Realty Trust), Agreement of Purchase and Sale (Brandywine Realty Trust)

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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 tenant by reason of a default by such Tenant tenant (by summary proceedings or otherwise) or by operation of prior to the terms of such Lease or New Lease Closing in strict accordance with this Article 13 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.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Taubman Centers Inc)

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 tenant by reason of a default by such Tenant tenant (by summary proceedings or otherwise) or by operation of prior to the terms of such Lease or New Lease 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.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Omni Financial Services, Inc.)

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 tenant by reason of a default by such Tenant tenant (by summary proceedings or otherwise) or by operation of prior to the terms of such Lease or New Lease 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.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Prudential Acquisition Fund I Lp)

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Lease Termination Prior to Closing. The bankruptcy or default of any Tenant or the termination of any Lease or New the Existing 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 the Existing 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.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Brandywine Realty Trust)

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