Common use of Lessor's Inability to Perform Clause in Contracts

Lessor's Inability to Perform. If at the expiration of the extended time Lessor shall have failed so to remove any such defects in title, then all other obligations of all parties hereto under Section 18.3 shall cease and Section 18.3 shall be void and without recourse to the parties hereto. Notwithstanding the foregoing, Lessee shall have the election, at either the original or extended Purchase Option Date and Time of Closing, to accept such title as Lessor can deliver to the Leased Property in its then condition and to pay therefor the Purchase Price without reduction, in which case Lessor shall convey such title; provided, that, in the event of such conveyance, if any portion of the Leased Property shall have been taken by Condemnation prior to the applicable Purchase Option Date and Time of Closing, Lessor shall pay over or assign to Lessee at the Time of Closing, all Awards recovered on account of such Taking, less any amounts reasonably expended by Lessor in obtaining such Award and less any amounts expended for restoration pursuant to the provisions of Article 14 hereof, or, to the extent such Awards have not been recovered as of the applicable Purchase Option Date and Time of Closing, Lessor shall assign to Lessee all its rights with respect to any claim therefor and further provided, that, in the event of such conveyance, if any portion of the Leased Property shall have suffered a Casualty prior to the applicable Purchase Option Date and Time of Closing, Lessor shall pay over or assign to Lessee at the Time of Closing, all insurance proceeds recovered on account of such Casualty, less any amounts reasonably expended by Lessor in obtaining such proceeds and less any amounts expended for restoration pursuant to the provisions of Article 13 hereof, or, to the extent such proceeds have not been recovered as of the applicable Purchase Option Date and Time of Closing, Lessor shall assign to Lessee all its rights with respect to any claim therefor.

Lessor's Inability to Perform. If at the expiration of the extended time Lessor shall have failed so to remove any such defects in title, then all other obligations of all parties hereto under Section 18.3 shall cease and Section 18.3 I 8.3 shall be void and without recourse to the parties hereto. Notwithstanding the foregoing, Lessee shall have the election, at either the original or extended Purchase Option Date and Time of ClosingClosing Date, to accept such title as Lessor can deliver to the Leased Property in its then condition and to pay therefor the Purchase Price without reduction, in which case Lessor shall convey such title; provided, that, in the event of such conveyance, if any portion of the Leased Property shall have been taken by Condemnation prior to the applicable Purchase Option Date and Time of ClosingClosing Date, Lessor shall pay over or assign to Lessee at the Time of ClosingClosing Date, all Awards recovered on account of such Taking, less any amounts reasonably expended by Lessor in obtaining such Award and less any amounts expended for restoration pursuant to the provisions of Article 14 hereof, or, to the extent such Awards have not been recovered as of the applicable Purchase Option Date and Time of ClosingClosing Date, Lessor shall assign to Lessee all its rights with respect to any claim therefor and further provided, thathat, in the event of such conveyance, if any portion of the Leased Property shall have suffered a Casualty prior to the applicable Purchase Option Date and Time of ClosingClosing Date, Lessor shall pay over or assign to Lessee at the Time of ClosingClosing Date, all insurance proceeds recovered on account of such Casualty, less any amounts reasonably expended by Lessor in obtaining such proceeds and less any amounts expended for restoration pursuant to the provisions of Article 13 hereof, or, to the extent such proceeds have not been recovered as of the applicable Purchase Option Date and Time of ClosingClosing Date, Lessor shall assign to Lessee all its rights with respect to any claim therefor.

Lessor's Inability to Perform. If at the expiration of the extended time Lessor shall have failed so to remove any such defects in title, then all other obligations of all parties hereto under Section 18.3 shall cease and Section 18.3 shall be void and without recourse to the parties hereto. Notwithstanding the foregoing, Lessee shall have the election, at either the original or extended Purchase Option Date and Time of Closing, to accept such title as Lessor can deliver to the Leased Property in its then condition and to pay therefor the Purchase Price without reduction, in which case Lessor shall convey such title; provided, that, in the event of such conveyance, if any portion of the Leased Property shall have been taken by Condemnation prior to the applicable Purchase Option Date and Time of Closing, Lessor shall pay over or assign to Lessee at the Time of Closing, all Awards recovered on account of such Taking, less any amounts reasonably expended by Lessor in obtaining such Award and less any amounts expended for restoration pursuant to the provisions of Article 14 hereof, or, to the extent such Awards have not been recovered as of the applicable Purchase Option Date and Time of Closing, Lessor shall assign to Lessee all its rights with respect to any claim therefor and further provided, that, in the event of such conveyance, if any portion of the Leased Property shall have suffered a Casualty prior to the applicable Purchase Option Date and Time of Closing, Lessor shall pay over or assign to Lessee at the Time of Closing, all insurance proceeds recovered on account of such Casualty, less any amounts reasonably expended by Lessor in obtaining such proceeds and less any amounts expended for restoration pursuant to the provisions of Article 13 hereof, or, to the extent such proceeds have not been recovered as of the applicable Purchase Option Date and Time of Closing, Lessor shall assign to Lessee all its rights with respect to any claim therefor.99

Lessor's Inability to Perform. If at the expiration of the extended time Lessor shall have failed so to remove any such defects in title, then all other obligations of all parties hereto under Section 18.3 shall cease and Section 18.3 shall be void and without recourse to the parties hereto. Notwithstanding the foregoing, Lessee shall have the election, at either the original or extended Purchase Option Date and Time of Closing, to accept such title as Lessor can deliver to the Leased Property in its then condition and to pay therefor the Purchase Price without reduction, in which case Lessor shall convey such title; provided, that, in the event of such conveyance, if any portion of the Leased Property shall have been taken by Condemnation prior to the applicable Purchase Option Date and Time of Closing, Lessor shall pay over or assign to Lessee at the Time of Closing, all Awards recovered on account of such Taking, less any amounts reasonably expended by Lessor in obtaining such Award and less any amounts expended for restoration pursuant to the provisions of Article 14 hereof, or, to the extent such Awards have not been recovered as of the applicable Purchase Option Date and Time of Closing, Lessor shall assign to Lessee all its rights with respect to any claim therefor and further provided, that, in the event of such conveyance, if any portion of the Leased Property shall have suffered a Casualty prior to the applicable Purchase Option Date and Time of Closing, Lessor shall pay over or assign to Lessee at the Time of Closing, all insurance proceeds recovered on account of such Casualty, less any amounts reasonably expended by Lessor in obtaining such proceeds and less any amounts expended for restoration pursuant to the provisions of Article 13 hereof, or, to the extent such proceeds have not been recovered as of the applicable Purchase Option Date and Time of Closing, Lessor shall assign to Lessee all its rights with respect to any claim therefor. 18.