Limited Right of Forfeiture or Eviction Sample Clauses

Limited Right of Forfeiture or Eviction. Except as provided below in this Section, Lxxxxxxx agrees that in no event shall any default whatsoever by Tenant under this Lease be the basis of a forfeiture or termination of this Lease or otherwise result in the eviction of Tenant. The occurrence of each of the following constitutes a “termination default” hereunder: (a) if Tenant is ever at one time delinquent in the payment of more than $150,000 of Base Rent, and such past due Base Rent is not paid within 30 days after receipt of a notice from Landlord that Base Rent in the amount of $150,000 or more is in arrears, and such delinquency continues to remain unpaid 60 days after receipt of a second notice from Landlord (delivered at least 30 days later than the first notice) stating it is the “second notice of a termination default” and that “the lease may be terminated by Landlord if the delinquent rent is not paid within 60 days after your receipt of this notice”; (b) if Tenant fails to pay Taxes when due and the Taxes are sold and Tenant does not redeem the Property within the earlier of six months after the tax sale or at least 60 days prior to the expiration of the redemption period; or (c) if the Building is not opened for retail business with the public on or before November 1, 2003 for reasons other than Force Majeure, and as a consequence thereof (and not of any breach by the Developer Parties of their obligations under the Redevelopment Agreement) TlF Assistance proceeds are not disbursed in the amount and within the time frames contemplated by the Redevelopment Agreement or the Redevelopment Agreement is terminated and, in either event, Lxxxxxxx’s purchase money and construction loan mortgage against the Land and Development Project is foreclosed. Upon the occurrence of a termination default, in addition to any other rights and remedies available to Landlord hereunder, Landlord (or any successor to Landlord including without limitation Landlord’s mortgagee) shall have the right by delivery of written notice thereof to Tenant to terminate this Lease and repossess the Land, in which case Tenant’s fee simple determinable interest in the Building shall automatically expire and title to the Building shall automatically pass to Landlord.
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Related to Limited Right of Forfeiture or Eviction

  • Termination In the event that either Party seeks to terminate this DPA, they may do so by mutual written consent so long as the Service Agreement has lapsed or has been terminated. Either party may terminate this DPA and any service agreement or contract if the other party breaches any terms of this DPA.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement through no fault of its own then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon. Upon delivering such notice, the obligation of the affected party, so far as it is affected by such Force Majeure as described, shall be suspended during the continuance of the inability then claimed but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. In the event that Vendor’s obligations are suspended by reason of Force Majeure, all TIPS Sales accepted prior to the Force Majeure event shall be the legal responsibility of Vendor and the terms of the TIPS Sale Supplemental Agreement shall control Vendor’s failure to fulfill for a Force Majeure event.

  • Entire Agreement This DPA and the Service Agreement constitute the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior communications, representations, or agreements, oral or written, by the Parties relating thereto. This DPA may be amended and the observance of any provision of this DPA may be waived (either generally or in any particular instance and either retroactively or prospectively) only with the signed written consent of both Parties. Neither failure nor delay on the part of any Party in exercising any right, power, or privilege hereunder shall operate as a waiver of such right, nor shall any single or partial exercise of any such right, power, or privilege preclude any further exercise thereof or the exercise of any other right, power, or privilege.

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Definitions For purposes of this Agreement:

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

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