Limitation Upon Termination Rights of the Lessor Sample Clauses

Limitation Upon Termination Rights of the Lessor. If the Lessor shall elect to terminate this Ground Lease upon the occurrence of an Event of Default, the Leasehold Mortgagee shall also have the right to postpone and extend the date of termination as fixed by the provisions of this Ground Lease for a period of not more than twelve (12) months from the expiration of the Leasehold Mortgagee Completion Period (the “Termination Extension Period”), provided that the Leasehold Mortgagee shall, during the Termination Extension Period, pay the Rent and other charges required to be paid under this Ground Lease and cure or cause to be cured such defaults that are reasonably susceptible of cure without possession of the Premises, and provided further, that the Leasehold Mortgagee of this Ground Lease shall forthwith take steps necessary to acquire the Lessee’s interest and estate in this Ground Lease by foreclosure of its Leasehold Mortgage, or otherwise, and shall prosecute such action to completion with due diligence. If at the end of the Termination Extension Period, the Leasehold Mortgagee of this Ground Lease shall be actively engaged in steps to acquire or sell the Lessee’s interest in the Ground Lease, the time for Leasehold Mortgagee to comply with the provisions of this subsection (d) shall be extended for such period as shall be reasonably necessary to complete these steps with reasonable diligence and continuity.
Sample 1
AutoNDA by SimpleDocs
Limitation Upon Termination Rights of the Lessor. If the Lessor shall elect to terminate this Ground Lease upon the occurrence of an Event of Default, the Primary Leasehold Mortgagee shall also have the right to postpone and extend the date of termination as fixed by the provisions hereof for a period of not more than six (6) months from the expiration of the ninety
Sample 1

Related to Limitation Upon Termination Rights of the Lessor

  • Obligations Upon Termination Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement.

  • Rights Upon Termination Except as expressly provided in Section 6, upon the termination of the Executive’s Employment pursuant to this Section 5, the Executive shall only be entitled to the compensation, benefits and reimbursements described in Sections 2, 3 and 4 for the period preceding the effective date of the termination. The payments under this Agreement shall fully discharge all responsibilities of the Company to the Executive.

  • Liability Upon Termination Termination of this Agreement, or any part hereof, for any cause shall not release either Party from any liability which at the time of termination had already accrued to the other Party or which thereafter accrues in any respect to any act or omission occurring prior to the termination or from an obligation which is expressly stated in this Agreement to survive termination.

  • Termination Rights This Agreement may be terminated at any time prior to the Closing:

  • Events Upon Termination (a) If this Agreement is terminated, cancelled or ends for any reason, the Operator shall:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!