Common use of Notice Prior to Rejection Clause in Contracts

Notice Prior to Rejection. Borrower shall give Administrative Agent not less than thirty (30) days prior written notice of the date on which a Ground Lessee shall apply to any court or other governmental authority for authority and permission to reject a Ground Lease in the event that there shall be filed by or against the Borrower or Ground Lessee any petition, action or proceeding under the Bankruptcy Code or under any other similar federal or state law now or hereafter in effect and if a Ground Lessee determines to reject the applicable Ground Lease. Administrative Agent shall have the right, but not the obligation, to serve upon Borrower within such thirty (30) day period a notice stating that (i) Administrative Agent demands that Borrower cause such Ground Lessee to assume and assign such Ground Lease to Administrative Agent subject to and in accordance with the Bankruptcy Code, and (ii) Administrative Agent covenants to cure or provide reasonably adequate assurance thereof with respect to all defaults reasonably susceptible of being cured by Administrative Agent and of future performance under such Ground Lease. If Administrative Agent serves upon Borrower the notice described above, Borrower shall not permit such Ground Lessee to seek to reject such Ground Lease and shall comply with the demand provided for clause (i) above within fifteen (15) days after the notice shall have been given by Administrative Agent.

Notice Prior to Rejection. Borrower shall give Administrative Agent not less than thirty (30) days prior written notice of the date on which a Ground Lessee shall apply to any court or other governmental authority Governmental Authority for authority and permission to reject a Ground Lease in the event that there shall be filed by or against the Borrower or Ground Lessee any petition, action or proceeding under the Bankruptcy Code or under any other similar federal or state law now or hereafter in effect and if a Ground Lessee determines to reject the applicable Ground Lease. Administrative Agent shall have the right, but not the obligation, to serve upon Borrower within such thirty (30) day period a notice stating that (i) Administrative Agent demands that Borrower cause such Ground Lessee to assume and assign such Ground Lease to Administrative Agent subject to and in accordance with the Bankruptcy Code, and (ii) Administrative Agent covenants to cure or provide reasonably adequate assurance thereof with respect to all defaults reasonably susceptible of being cured by Administrative Agent and of future performance under such Ground Lease. If Administrative Agent serves upon Borrower the notice described above, Borrower shall not permit such Ground Lessee to seek to reject such Ground Lease and shall comply with the demand provided for clause (i) above within fifteen (15) days after the notice shall have been given by Administrative Agent.

Notice Prior to Rejection. Borrower (or the Leasehold Holder) shall give Administrative Agent not less than thirty (30) days prior written notice of the date on which a Ground Lessee Leasehold Holder shall apply to any court or other governmental authority Governmental Authority for authority and permission to reject a any Ground Lease in the event that there shall be filed by or against the Borrower or Ground Lessee Leasehold Holder any petition, action or proceeding under the Bankruptcy Code or under any other similar federal or state law now or hereafter in effect and if a Ground Lessee Leasehold Holder determines to reject the applicable Ground Lease. Administrative Agent Lender shall have the right, but not the obligation, to serve upon Borrower Leasehold Holder within such thirty (30) day period a notice stating that (i) Administrative Agent demands that Borrower cause such Ground Lessee to Leasehold Holder assume and assign such the Ground Lease to Administrative Agent (or its designee) subject to and in accordance with the Bankruptcy Code, and (ii) Administrative Agent covenants to cure or provide reasonably adequate assurance thereof with respect to all defaults reasonably susceptible of being cured by Administrative Agent Lender and of future performance under such the Ground Lease. If Administrative Agent serves upon Borrower Leasehold Holder the notice described above, Borrower Leasehold Holder shall not permit such Ground Lessee to seek to reject such the Ground Lease and shall comply with the demand provided for in clause (i) above within fifteen (15) days after the notice shall have been given by Administrative Agent.

Notice Prior to Rejection. Borrower shall give Administrative Agent Lender not less than thirty (30) days prior written notice of the date on which a Ground Lessee Borrower shall apply to any court or other governmental authority for authority and permission to reject a Ground Lease any REA in the event that there shall be filed by or against the Borrower or Ground Lessee any petition, action or proceeding under the Bankruptcy Code or under any other similar federal or state law now or hereafter in effect and if a Ground Lessee Borrower determines to reject the applicable Ground Leaseany REA. Administrative Agent Lender shall have the right, but not the obligation, to serve upon Borrower within such thirty (30) day period a notice stating that (i) Administrative Agent Lender demands that Borrower cause such Ground Lessee to assume and assign such Ground Lease the REAs to Administrative Agent Lender subject to and in accordance with the Bankruptcy CodeCode and the terms of the REAs, and (ii) Administrative Agent Lender covenants to cure or provide reasonably adequate assurance thereof with respect to all defaults reasonably susceptible of being cured by Administrative Agent Lender and of future performance under such Ground Leasethe REAs. If Administrative Agent Lender serves upon Borrower the notice described above, Borrower shall not permit such Ground Lessee to seek to reject such Ground Lease the REAs and shall comply with the demand provided for clause (i) above within fifteen (15) days after the notice shall have been given by Administrative AgentLender.