Merger of Estates. The voluntary or other surrender of this Lease by Tenant or a mutual cancellation hereof, shall not work a merger, but shall, at the option of Landlord, terminate all or any existing subleases or subtenancies, or may, at the option of Landlord, operate as an assignment to Landlord of Tenant’s interest in such subleases or subtenancies.
Merger of Estates. The voluntary or other surrender of this Lease by Tenant or a mutual cancellation thereof, shall not constitute a merger; and upon such surrender or cancellation of this Lease, Landlord shall have the option, in Landlord's sole discretion, to (i) either terminate all or any existing subleases or subtenancies, or (ii) assume Tenant's interest in any or all subleases or subtenancies.
Merger of Estates. The Easement Rights created in the Ground Lease and benefiting applicable parcels of real property described herein shall continue until terminated as provided therein, notwithstanding any merger of title (existing presently or in the future) in a common owner, and none of the parties intend that there be, and there shall not be in any event, a merger of any of the Easement Rights with the title or other interest of any owner of the real property interests described therein.
Merger of Estates. The exercise of this Option shall not terminate this Lease or modify or reduce Lessee’s obligations under this Lease. Upon closing of the purchase of the Leased Premises pursuant to this Option, however, this Lease shall terminate and be of no further force and effect.
Merger of Estates. County and Lessee hereby agree and acknowledge that the interests of County and of Lessee in the Premises and the Improvements shall at all times be separate and apart, and shall in no event be merged, notwithstanding the fact that the Lease or the Leasehold Estate created thereby, or any interest in either thereof, may be held directly or indirectly by or for the account of any person who shall own the fee estate in the Premises and the Improvements or any portion thereof; and no such merger of estates shall occur by operation of law, or otherwise, unless and until all persons at the time having any equity or secured financing interest of record in the fee estate and all persons having any equity or secured financing interest of record in the Lease or the Leasehold Estate, shall join in the execution of a written instrument effecting such merger of estates and record such instrument among the land records of San Diego County, California.
Merger of Estates. When a landlord acquires the leasehold estate (e.g., by tenant’s assignment of the lease and surrender of the premises to landlord), or the tenant acquires title to the premises superior to that of the landlord (and there is no intervening estate), the landlord’s fee simple ownership interest in the property and the tenant’s leasehold interest are deemed to “merge” as a matter of law. In such a case, the lease is terminated and the tenant is relieved of its obligation to pay rent.
Merger of Estates. The voluntary or other surrender of this Service Agreement by Customer or a mutual cancellation hereof, shall not work a merger, but shall, at the option of Service Provider, terminate all or any existing subleases or subtenancies, or may, at the option of Service Provider, operate as an assignment to Service Provider of Customer’s interest in such subleases or subtenancies.
Merger of Estates. This instrument is a license and not a lease. Licensee expressly agrees that it does not and shall not claim at any time any interest or estate of any kind or extent whatsoever in the Building by virtue of the rights granted under this License or its occupancy or use under this License.
Merger of Estates. 27 50. Survival of Indemnities and Covenants ....................................... 27 51. Headings .................................................................... 27
Merger of Estates. If both the lessor’s and lessee’s interest under any Lease ever becomes vested in any one Person, this Instrument and the lien and security interest created hereby shall not be destroyed or terminated by the application of the doctrine of merger and Lender and Trustee shall continue to have and enjoy all its rights and privileges as to each separate estate. Upon foreclosure (or transfer of title by power of sale) of this Instrument, none of the Leases shall be destroyed or terminated as a result of such foreclosure (or sale), by application of the doctrine of merger or as a matter of Law, unless Lender or Trustee takes all actions required by Law to terminate the Leases as a result of foreclosure or sale.
