Lessor's Option to Terminate. (a) In the event Lessor enters into a bona fide contract to sell the Leased Property to a non-Affiliate other than Lessee or an Affiliate of Lessee, Lessor may terminate the Lease by giving not less than 60-days prior Notice to Lessee of Lessor's election to terminate the Lease upon the closing under such contract. Effective upon such date, this Lease shall terminate and be of no further force and effect except as to any obligations of the parties existing as of such date that survive termination of this Lease and all Rent including Percentage Rent and Additional Charges shall be adjusted as of the termination date.
Appears in 9 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
