Prohibition of Use. If at any time during the term of this Lease, (i) any Law shall prohibit the use of Ski Facility for the purposes permitted in Section 8(A)(i) or (iii) of this Lease (the “Prohibition”), then immediately upon the earlier to occur of (a) Tenant becoming aware of any proposed Prohibition, or (b) Tenant’s receipt of any notice from any Governmental Authorities of any Prohibition, Tenant shall promptly notify Landlord of such fact, and Tenant shall have the right to proceed, in its or Landlord’s name, and at Tenant’s sole cost and expense, to take such action as Tenant shall determine to be necessary or desirable to contest or challenge the Prohibition. If a Prohibition should occur or be imposed, nothing in this paragraph (B) shall be deemed to impair Tenant’s obligations under paragraph (D) of the Article captioned “Governmental Compliance” at any time during which Tenant is not prohibited from using the Ski Facility for the purposes permitted in Section 8(A)(i) and (iii) of this Lease by the Prohibition.
Appears in 2 contracts
Samples: Lease Agreement (Peak Resorts Inc), Lease Agreement (Peak Resorts Inc)
Prohibition of Use. If at any time during the term of this Lease, (i) any Law shall prohibit the use of Ski the Facility for the purposes permitted in Section 8(A)(i7(A)(i) or (iii) of this Lease (the “Prohibition”), then immediately upon the earlier to occur of (a) Tenant becoming aware of any proposed Prohibition, or (b) Tenant’s receipt of any notice from any Governmental Authorities of any Prohibition, Tenant shall promptly notify Landlord of such fact, and Tenant shall have the right to proceed, in its or Landlord’s name, and at Tenant’s sole cost and expense, to take such action as Tenant shall determine to be necessary or desirable to contest or challenge the Prohibition. If a Prohibition should occur or be imposed, nothing in this paragraph (B) shall be deemed to impair Tenant’s obligations under paragraph (D) of the Article captioned “Governmental Compliance” at any time during which Tenant is not prohibited from using the Ski Facility for the purposes permitted in Section 8(A)(i7(A)(i) and (iii) of this Lease by the Prohibition.. EPT Ski Properties, Inc. Lease
Appears in 1 contract
Samples: Option Agreement (Peak Resorts Inc)
Prohibition of Use. If at any time during the term of this Lease, (i) any Law shall prohibit the use of Ski the Facility for the purposes permitted in Section 8(A)(i7(A)(i) or (iii) of this Lease (the “Prohibition”), then immediately upon the earlier to occur of (a) Tenant becoming aware of any proposed Prohibition, or (b) Tenant’s receipt of any notice from any Governmental Authorities of any Prohibition, Tenant shall promptly notify Landlord of such fact, and Tenant shall have the right to proceed, in its or Landlord’s name, and at Tenant’s sole cost and expense, to take such action as Tenant shall determine to be necessary or desirable to contest or challenge the Prohibition. If a Prohibition should occur or be imposed, nothing in this paragraph (B) shall be deemed to impair Tenant’s obligations under paragraph (D) of the Article captioned “Governmental Compliance” at any time during which Tenant is not prohibited from using the Ski Facility for the purposes permitted in Section 8(A)(i7(A)(i) and (iii) of this Lease by the Prohibition.
Appears in 1 contract
Samples: Option Agreement (Peak Resorts Inc)