Lender Approval. If the Mortgagee fails to give its consent to this Lease, Landlord shall have the right, at its sole option, to terminate and cancel this Lease. Such option shall be exercisable by Landlord by written notice to Tenant of such termination, whereupon this Lease shall be deemed cancelled and terminated, and both Landlord and Tenant shall be relieved of any and all liabilities and obligations hereunder.
Appears in 5 contracts
Samples: Office Lease (Cellular Biomedicine Group, Inc.), Office Lease (Cellular Biomedicine Group, Inc.), Lease Agreement (Sucampo Pharmaceuticals, Inc.)
Lender Approval. If the Mortgagee fails to give its consent to this Lease, Landlord shall have the right, at its sole option, to terminate and cancel this Lease. Such option shall be exercisable by Landlord by written notice to Tenant of such termination, whereupon this Lease shall be deemed cancelled canceled and terminated, and both Landlord and Tenant shall be relieved of any and all liabilities and obligations hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Yellow Brix Inc), Office Lease (Genvec Inc)
Lender Approval. If the Mortgagee fails to give its consent to this Lease, Landlord shall have the right, at its sole option, to terminate and cancel this Lease. Such option shall be exercisable by Landlord by written notice to Tenant of such termination, which notice shall be given by Landlord, if at all, not later than the thirtieth (30th) day following execution of this Lease by Landlord, whereupon this Lease shall be deemed cancelled and terminated, and both Landlord and Tenant shall be relieved of any and all liabilities and obligations hereunder.
Appears in 1 contract
Samples: Lease Agreement (National Consumer Cooperative Bank /Dc/)
