Partial Termination upon Certain Events. If any of the following occurs with respect to any Property (any such Property, an "Affected Property"): (a) an Event of Loss occurs; or
Partial Termination upon Certain Events. If any of the following occurs with respect to any Property:
(i) a Significant Condemnation occurs; or
(ii) an Environmental Violation occurs or is discovered the cost of remediation of which would exceed $5,000,000; and the Lessor shall have given written notice (a "Termination Notice") to the Lessee that, as a consequence of such event, (x) the Lease Supplement relating to such Property is to be terminated and (y) this Master Lease is to be terminated with respect to such Property, then the Lessee shall be obligated to purchase the Lessor's interest in such affected Property on or prior to the next occurring Basic Rent Payment Date by paying the Lessor an amount equal to the Property Balance for such affected Property.
Partial Termination upon Certain Events. If, with respect to any Property (any such Property, an "Affected Property"): (a) an Event of Loss occurs or (b) an Environmental Violation occurs or is discovered and the cost of remediation of which the Lessee determines in its reasonable good faith judgment would reasonably be expected to exceed $5,000,000 and in either case the Lessor (at the direction of the Required Participants) shall have given fifteen (15) Business Days' prior written notice (a "Partial Termination Notice") to the Lessee that, as a consequence of such event, (x) the Lease Supplement relating to such Property is to be terminated and (y) this Master Lease is to be terminated with respect to such Property, then the Lessee shall on the next occurring Scheduled Payment Date (but in any event not later Xxx Research Corporation Amended and Restated Master Lease than the Expiration Date), purchase the interest of the Lessor in the Affected Property by paying to the Administrative Agent (as assignee of the Lessor) an amount equal to the sum of (x) the Property Cost of the Affected Property on such date plus (y) all accrued and unpaid Basic Rent due and owing on such date plus (z) all Supplemental Rent due and owing on such date, and the Lessor shall transfer to the Lessee on such date of payment all of the interest of the Lessor in the Affected Property pursuant to the procedures set forth in Section 15.2 hereof.
Partial Termination upon Certain Events. If any of the following occurs during the Basic Lease Term with respect to the Land or related Improvements:
(i) a Significant Casualty occurs;
(ii) a Significant Condemnation occurs; or
(iii) an Environmental Violation occurs or is discovered the cost of remediation of which would exceed $5,000,000 (x) and such violation has not been remediated within 180 days after the occurrence or discovery or (y) the Lessee has notified the Lessor prior to the expiration of such 180 day period that the violation will not be remediated within such period; and the Lessor shall have given written notice (a "Termination Notice") to the Lessee that, as a consequence of such event (x) the Lease Supplement is to be terminated and (y) this Master Lease is to be terminated, then the Lessee shall be obligated to purchase the Lessor's interest in the Land and related Improvements within 30 days after Lessee's receipt of the Termination Notice, by paying to the Lessor an amount equal to the Lease Balance.
Partial Termination upon Certain Events. If any of the following occurs during the Lease Term with respect to the Property:
(a) an Event of Loss occurs; or
(b) an Environmental Violation with respect to the Property occurs or is discovered the cost of remediation of which would exceed $20,000,000; and the Lessor shall have given written notice (a “Termination Notice”) to the Lessee that, as a consequence of such event this Lease is to be terminated, then the Lessee shall be obligated to purchase the Lessor’s interest in the Property within thirty (30) days after the Lessee’s receipt of the Termination Notice, by paying to the Lessor an amount equal to the Property Cost plus all accrued and unpaid Rent plus all other amounts then due and owing under the Operative Documents.
Partial Termination upon Certain Events. If any of the following occurs with respect to any Property:
(i) a Significant Condemnation occurs; or
(ii) a Significant Casualty occurs; or
(iii) an Environmental Violation occurs or is discovered the cost of remediation of which would exceed $5,000,000, and the Lessor shall have given written notice (a "Termination Notice") to the applicable Lessee that, as a consequence of such event, (x) the Lease Supplement relating to such Property is to be terminated and (y) this Master Lease is to be terminated with respect to such Property, then such Lessee shall be obligated to purchase the Lessor's interest in such affected Property on or prior to the next Basic Rent Payment Date occurring not less than twenty (20) days after the giving of such Termination Notice, by paying the Lessor an amount equal to the Property Balance for such affected Property.
Partial Termination upon Certain Events. 21 15.2. Termination Procedures............................................................ 21
Partial Termination upon Certain Events. If any of the following occurs during the Basic Lease Term with respect to any Parcel of Land or related Improvements:
Partial Termination upon Certain Events. With respect to any Property, if either:
(i) a Significant Condemnation or Significant Casualty occurs; or
(ii) an Environmental Violation occurs or is discovered the cost of remediation of which would exceed $5,000,000; and the Lessor or the applicable Lessee shall have given written notice (a "TERMINATION NOTICE") to the other party that as a consequence of the occurrence of such event, (x) the Lease Supplement relating to such Property is to be terminated and (y) this Master Lease is to be terminated with respect to such Property, then such Lessee shall be obligated to purchase the interest of the Lessor in such affected Property on the Payment Date immediately following the date occurring ninety (90) days after the Lessee's
Partial Termination upon Certain Events. If, with respect to any Property: (a) an Event of Loss occurs or (b) an Environmental Violation occurs or is discovered and the cost of remediation of which the Lessee determines in its reasonable good faith judgment could reasonably be expected to exceed the lesser of $5,000,000 and twenty percent (20%) of the Termination Base Amount of such Property; and the Lessor shall have given prior written notice (a "Partial Termination Notice") to the Lessee that, as a consequence of such event, this Master Lease is to be terminated with respect to such Property, then the Lessee shall be obligated, on the date specified by the Lessor (which date shall be a Business Day no earlier than sixty (60) days after delivery of the applicable Partial Termination Notice but in any event not later than the Expiration Date), to (1) in the case of an affected Leased Property, purchase the affected Property and pay to the Lessor, as the purchase price thereof, or (2) in the case of an affected Mortgaged Property, cause the release of such Property from the Lien of the Lessor Mortgage applicable thereto and pay to the Lessor, in exchange for such release, an amount equal to the sum of (x) the Termination Base Amount of the affected Property on such date plus (y) all accrued and unpaid Accrual Rent allocable to an amount of Property Cost equal to such Termination Base Amount, plus (z) without duplication all Basic Rent and Supplemental Rent, including Break Costs, due and owing on such date (after giving effect to such purchase), and the Lessor shall, as set forth in Section 15.2, on such date of payment transfer to the Lessee all of the interest of the Lessor in the affected Property (in the case of a Leased Property) and release any Lessor Mortgage encumbering Property; provided, however, that the Lessee shall not be obligated to purchase the affected Property if the Lessee delivers a Replacement Notice within ten (10) days after receiving the Partial Termination Notice and completes the replacement in accordance with Section 19.2 within sixty (60) days after receiving the Partial Termination Notice.
