Common use of NON-COMPLIANCE WITH GOVERNMENTAL REQUIREMENTS Clause in Contracts

NON-COMPLIANCE WITH GOVERNMENTAL REQUIREMENTS. If Lessee fails to materially comply with any requirement of any Governmental Authority with respect to such Property and such non-compliance results in a material adverse effect on the value of the Property or to contest such requirement by means of a Permitted Contest under ARTICLE XVII (i) within thirty (30) days after notice in writing of such requirement shall have been given to Lessee by such Governmental Authority or by Brazos or Assignee, or (ii) if such requirement is of a nature that it cannot be complied with within such 30-day period, if Lessee shall fail after such notice either diligently to commence complying with such requirement or to proceed thereafter with reasonable diligence and in good faith to comply with such requirement; provided, however, that (i) Lessee shall in any event comply with such requirement prior to the date on which such Property may be seized or sold as a result of such non-compliance, and (ii) a potential adverse impact reasonably likely to be less than $500,000 in the aggregate with respect to all Properties shall be deemed to be not material.

Appears in 1 contract

Samples: Ground Lease Agreement (Monro Muffler Brake Inc)

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NON-COMPLIANCE WITH GOVERNMENTAL REQUIREMENTS. If Lessee fails to materially comply with any requirement of any Governmental Authority with respect to such Property Facility and such non-compliance results results, in the reasonable judgment of Lessee, in a material adverse effect on the value Value of the Property Facility or to contest such requirement by means of a Permitted Contest under ARTICLE XVII XVIII (i) within thirty (30) days after notice in writing of such requirement shall have been given to Lessee by such Governmental Authority or by Brazos or Assignee, or (ii) if such requirement is of a nature that it cannot be completely complied with within such 30-day period, if Lessee shall fail after such notice either diligently to commence complying with such requirement or to proceed thereafter with reasonable diligence and in good faith to comply with such requirement; providedPROVIDED, howeverHOWEVER, that (i) Lessee shall in any event comply with such requirement prior to the date on which such Property Facility may be seized or sold as a result of such non-compliance, and (ii) a potential adverse impact reasonably likely to be less than $500,000 in the aggregate with respect to all Properties shall be deemed to be not material.

Appears in 1 contract

Samples: Facilities Lease Agreement (Randalls Food Markets Inc)

NON-COMPLIANCE WITH GOVERNMENTAL REQUIREMENTS. If Lessee fails to materially comply with any requirement of any Governmental Authority with respect to such Property Facility and such non-compliance results in a material adverse effect on the value of the Property Facility or to contest such requirement by means of a Permitted Contest under ARTICLE XVII XVIII (i) within thirty (30) days after notice in writing of such requirement shall have been given to Lessee by such Governmental Authority or by Brazos or Assignee, or (ii) if such requirement is of a nature that it cannot be complied with within such 30-day period, if Lessee shall fail after such notice either diligently to commence complying with such requirement or to proceed thereafter with reasonable diligence and in good faith to comply with such requirement; provided, however, that (i) Lessee shall in any event comply with such requirement prior to the date on which such Property Facility may be seized or sold as a result of such non-compliance, and (ii) a potential adverse impact reasonably likely to be less than $500,000 in the aggregate with respect to all Properties Facilities or FF&E shall be deemed to be not material.

Appears in 1 contract

Samples: Facilities Lease Agreement (Monro Muffler Brake Inc)

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NON-COMPLIANCE WITH GOVERNMENTAL REQUIREMENTS. If Lessee fails to materially comply with any requirement of any Governmental Authority with respect to such Property and such non-compliance results results, in the reasonable judgment of Lessee, in a material adverse effect affect on the value Value of the Property or to contest such requirement by means of a Permitted Contest under ARTICLE XVII (i) within thirty (30) days after notice in writing of such requirement shall have been given to Lessee by such Governmental Authority or by Brazos or Assignee, or (ii) if such requirement is of a nature that it cannot be completely complied with within such 30-day period, if Lessee shall fail after such notice either diligently to commence complying with such requirement or to proceed thereafter with reasonable diligence and in good faith to comply with such requirement; providedPROVIDED, howeverHOWEVER, that (i) Lessee shall in any event comply with such requirement prior to the date on which such Property may be seized or sold as a result of such non-compliance, and (ii) a potential adverse impact reasonably likely to be less than $500,000 in the aggregate with respect to all Properties shall be deemed to be not material.

Appears in 1 contract

Samples: Ground Lease Agreement (Randalls Food Markets Inc)

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