Common use of No Election to Terminate Clause in Contracts

No Election to Terminate. Borrower shall not elect to treat any Ground Lease as terminated, canceled or surrendered pursuant to the applicable provisions of the Bankruptcy Code (including, without limitation, Section 365(h)(1) thereof) without Lender's prior written consent in the event of any Fee Owner's bankruptcy. In addition, Borrower shall, in the event of any Fee Owner's bankruptcy, reaffirm and ratify the legality, validity, binding effect and enforceability of the applicable Ground Lease and shall remain in possession of the applicable Property and the applicable Leasehold Estate, notwithstanding any rejection thereof by such Fee Owner or any trustee, custodian or receiver.

No Election to Terminate. Borrower shall not elect to treat any the Ground Lease as terminated, canceled or surrendered pursuant to the applicable provisions of the Bankruptcy Code (including, without limitation, Section 365(h)(1) thereof) without Lender's ’s prior written consent in the event of any Fee Owner's ’s bankruptcy. Any such election made without Lender’s prior written consent shall be void. In addition, Borrower shall, in the event of any Fee Owner's ’s bankruptcy, reaffirm and ratify the legality, validity, binding effect and enforceability of the applicable Ground Lease and shall remain in possession of the applicable Property and the applicable Leasehold Estate, notwithstanding any rejection thereof by such Fee Owner or any trustee, custodian or receiver.

No Election to Terminate. Borrower shall not permit a Ground Lessee to elect to treat any a Ground Lease as terminated, canceled or surrendered pursuant to the applicable provisions of the Bankruptcy Code (including, without limitation, Section 365(h)(1) thereof) without Lender's Administrative Agent’s prior written consent in the event of any Fee Owner's ’s bankruptcy. In addition, Borrower shall, in the event of any Fee Owner's ’s bankruptcy, cause the applicable Ground Lessee to reaffirm and ratify the legality, validity, binding effect and enforceability of the applicable Ground Lease and shall to remain in possession of the applicable Property Leasehold Estate and the applicable Leasehold Estateany Improvements, notwithstanding any rejection thereof by such Fee Owner or any trustee, custodian or receiver.

No Election to Terminate. Borrower shall not elect to treat any Ground Lease as terminated, canceled or surrendered pursuant to the applicable provisions of the Bankruptcy Code (including, without limitation, Section 365(h)(1) thereof) without Lender's ’s prior written consent in the event of any Fee Owner's ’s bankruptcy. In addition, Borrower shall, in the event of any Fee Owner's ’s bankruptcy, reaffirm and ratify the legality, validity, binding effect and enforceability of the applicable Ground Lease and shall remain in possession of the applicable Property and the applicable Leasehold Estate, notwithstanding any rejection thereof by such Fee Owner or any trustee, custodian or receiver.