Common use of Lessee Entitled to Certain Rent Abatements if Bonds Paid Prior to Maturity Clause in Contracts

Lessee Entitled to Certain Rent Abatements if Bonds Paid Prior to Maturity. If at any time the aggregate moneys in the Bond Fund shall be sufficient to retire in accordance with the provisions of the Indenture all of the Bonds at the time outstanding, and to pay all fees and charges of the Trustee due or to become due through the date on which the last of the Bonds is retired under circumstances not resulting in termination of the Lease Term, and if the Lessee is not at the time otherwise in default under Article VI hereof, the Lessee shall be entitled to use and occupy the Project from the date on which such aggregate moneys are in the hands of the Trustee to and including midnight on the last day of the Lease Term, without the payment of the amounts required by Section 5.3(a) during that interval (but otherwise on the terms and conditions hereof).

Appears in 3 contracts

Samples: Lease Agreement (Adesa California, LLC), Lease Agreement (Adesa Inc), Lease Agreement (Allete Inc)

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Lessee Entitled to Certain Rent Abatements if Bonds Paid Prior to Maturity. If at any time the aggregate moneys monies available in a bond escrow agreement approved by the Bond Fund Trustee shall be sufficient to retire all of the Bonds outstanding in accordance with the provisions of the Indenture all of the Bonds at the time outstandingIndenture, and to pay all fees and charges of the Trustee and paying agents due or to become due through the date on which the last of the Bonds is retired under circumstances not resulting in termination of the Lease Term, and if the Lessee is not at the time otherwise in default under Article VI hereofhereunder, the Lessee shall be entitled to use and occupy the Project from the date on which such aggregate moneys monies are in the hands of the Trustee to and including midnight on the last day of the Lease TermDecember, 2013 without the payment of the amounts required by rent specified in Section 5.3(a) 5.3 during that interval (but otherwise on the terms and conditions hereofthereof).

Appears in 1 contract

Samples: Lease Agreement (Central Sprinkler Corp)

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