Rejection by Tenant Sample Clauses

Rejection by Tenant. If the Lease is rejected in connection with a bankruptcy proceeding by Tenant or a trustee in bankruptcy for Tenant, such rejection shall be deemed an assignment by Tenant to the Leasehold Mortgagee (or if there is more than one Leasehold Mortgagee, to the one highest in priority) of the leasehold interest and all of Tenant’s interest under this Lease, in the nature of an assignment in lieu of Foreclosure, and this Lease shall not terminate and the Leasehold Mortgagee shall have all the rights and be charged with all obligations of the Tenant under this Lease (as such obligations may be affected by this Article XI), from and after the date of rejection, as if such bankruptcy proceeding had not occurred, unless such Leasehold Mortgagee shall reject such deemed assignment by notice in writing to Landlord within thirty (30) days following the later of (i) rejection (or deemed rejection) of the Lease by Tenant or Tenant’s trustee in bankruptcy; or (ii) approval of such rejection by the bankruptcy court. If any court of competent jurisdiction shall determine that this Lease shall have been terminated notwithstanding the terms of the preceding sentence as a result of rejection by Tenant or the trustee in connection with any such proceeding, the rights of any Leasehold Mortgagee to a new lease from Landlord pursuant to Section 11.6 hereof shall not be affected thereby.
Sample 1
AutoNDA by SimpleDocs
Rejection by Tenant. If Tenant rejects (or is deemed to have rejected) Landlord's Offer, then Landlord shall be free to sell the Property without regard to Tenant's right of first offer to purchase; provided, however, that before entering into any agreement to sell the Property after Tenant rejects (or is deemed to have rejected) Landlord's Offer for a price that is lower than 90% of the Purchase Price, Landlord shall offer to sell the Property to Tenant at the reduced price Landlord is willing to accept. In such event, Landlord's written offer to Tenant to sell at the reduced price shall be treated as a new Landlord's Offer subject to all of the provisions of this Exhibit, except that if Tenant again rejects (or is deemed to have rejected) Landlord's Offer (i.e., at the reduced price), then Landlord will have no further obligation for the remainder of the ROFO Period or otherwise to present a Landlord's Offer to Tenant with respect to the Property and Landlord shall thereafter have the right to sell the Property to any party on any terms and conditions that Landlord may thereafter negotiate without any obligation to Tenant. Once the Property is sold to a third party after compliance by Landlord with the terms of this Article 37, each of Tenant's Purchase Option (as described in Article 35) and Tenant's right of first offer to purchase the Property (as described in this Article 37) shall be null and void and of no further force or effect, and Tenant shall execute, acknowledge and deliver to Landlord a quitclaim deed in recordable form whereby Tenant quitclaims to Landlord all of its right, title and interest in and to such Purchase Option, such right of first offer or otherwise to purchase the Property or any portion thereof (a "Quitclaim Deed"). The failure of Tenant to deliver a Quitclaim Deed within ten (10) days of Landlord's request therefor shall constitute a material default under this Lease.
Sample 1
Rejection by Tenant. If Tenant shall fail timely to deliver an Acceptance Notice to Landlord, or if Tenant does not timely execute such amendment (provided the same was accurate), Tenant shall be deemed to have elected to not lease the ROFO Space and Tenant will have no further right to lease such ROFO Space pursuant to this Article 19 unless such ROFO Space again becomes available for lease, it being agreed and acknowledged by the parties hereto that in the event of any failure by Tenant to timely exercise its right to lease the ROFO Space Landlord shall have the right to lease such ROFO Space to any third party upon terms acceptable to Landlord and such third party and this ROFO shall terminate as to such ROFO Space so long as the Base Rent paid by such third party, taking into account any free rent and tenant improvement allowance, is no less than ninety percent (90%) of the Base Rent (taking into account any free rent and tenant improvement allowance) set forth in Landlord’s Offer Notice. If Landlord wishes to lease the ROFO Space for less than ninety percent (90%) of the Base Rent (taking into account any free rent and tenant improvement allowance) contained in Landlord’s Offer Notice, then Landlord shall first re-offer the ROFO Space to Tenant in accordance with this Article 19 with such revised Base Rent and Tenant shall then have five (5) days within which to elect to lease the ROFO Space.
Sample 1

Related to Rejection by Tenant

  • Termination by Tenant In the event that the destruction to the Premises cannot be restored as required herein under applicable laws and regulations within two hundred seventy (270) days of the damage or casualty, notwithstanding the availability of insurance proceeds, Tenant shall have the right to terminate this Lease by giving the Landlord notice thereof within thirty (30) days of date of the occurrence of such casualty specifying the date of termination which shall not be less than thirty (30) days nor more than sixty (60) days following the date on which such notice of termination is given. In the event of the giving of such notice of termination, this Lease shall expire and all interest of Tenant in the Premises shall terminate on the date so specified in such notice and the Rent, reduced by any proportionate reduction in Rent as provided for in Section 18.1 above, shall be paid to the date of such termination.

  • Notice by Tenant Tenant shall give immediate notice to Landlord in case of fire or accidents in the Premises or in the building of which the Premises are a part or of defects therein or in any fixtures or equipment.

  • Termination by Lessor Lessor may terminate the lease at any time if any of the following shall happen:

  • Termination by Landlord If the Resident fails to adhere to the Community Standards and House Rules, or fails to perform and observe any of the terms or conditions of this Residence Agreement, the Landlord, at its option and in its sole discretion, may terminate the Term created by this Residence Agreement upon giving the Resident written notice of the Landlord’s intention to do so, to take effect within no less than forty-eight (48) hours from receipt of a Notice to Vacate from the Landlord. Notwithstanding the foregoing, a Resident may be immediately evicted from the Premises and Residence for reasons including but not limited to assault of any kind, any offence resulting in a criminal charge, any destruction of property, or if the Resident is deemed a safety concern for the community. The Resident is liable to pay all legal costs incurred by the Landlord in enforcing the provisions of this Residence Agreement including obtaining possession of the Premises.

  • Termination by Lessee Subject to Subparagraph 18D, and without limiting any other rights and remedies to which Lessee may be entitled by common law, statutory law, or as elsewhere provided in this Lease, this Lease may be terminated by Lessee at any time after the happening, and during the existence, of one of more of the following events: i. The City’s permanent abandonment of the Premises at the Airport; ii. The lawful assumption by the United States Government, or any authorized agency thereof, of the operation, control, or use of the Airport, or any substantial part or parts thereof, that substantially restricts any sublessee from operating for at least one hundred fifty (150) calendar days; iii. The issuance by any court of competent jurisdiction of an injunction that prevents or restrains the use of the Airport or the Premises, that continues for at least one hundred fifty (150) calendar days; iv. The default by the City in the performance of any covenant or obligation on the part of the City to be performed, and the failure of the City to remedy the default for sixty (60) calendar days after receipt from Lessee of written notice to remedy the same; or v. Lessee’s decision to terminate the Lease as provided in Paragraph 11(B) of the Lease.

  • Inspection by Landlord Landlord shall have the right to inspect the Tenant Improvements at all times, provided however, that Landlord’s failure to inspect the Tenant Improvements shall in no event constitute a waiver of any of Landlord’s rights hereunder nor shall Landlord’s inspection of the Tenant Improvements constitute Landlord’s approval of the same. Should Landlord disapprove any portion of the Tenant Improvements, Landlord shall notify Tenant in writing of such disapproval and shall specify the items disapproved. Any defects or deviations in, and/or disapproval by Landlord of, the Tenant Improvements shall be rectified by Tenant at no expense to Landlord, provided however, that in the event Landlord determines that a defect or deviation exists or disapproves of any matter in connection with any portion of the Tenant Improvements and such defect, deviation or matter might adversely affect the mechanical, electrical, plumbing, heating, ventilating and air conditioning or life-safety systems of the Building, the structure or exterior appearance of the Building or any other tenant’s use of such other tenant’s leased premises, Landlord may, take such action as Landlord deems necessary, at Tenant’s expense and without incurring any liability on Landlord’s part, to correct any such defect, deviation and/or matter, including, without limitation, causing the cessation of performance of the construction of the Tenant Improvements until such time as the defect, deviation and/or matter is corrected to Landlord’s satisfaction.

  • Inspection by Lessor Upon reasonable advance notice, Lessee, during reasonable business hours and subject to Lessee's security requirements, will make the Equipment and its related log and maintenance records available to Lessor for inspection.

  • Termination by Licensor Without Notice Licensee shall be deemed to be in default under this Agreement, and all rights granted herein shall automatically terminate without notice to Licensee, if Licensee becomes insolvent or makes a general assignment for the benefit of creditors; or if a petition in bankruptcy is filed by Licensee or against Licensee and not opposed by Licensee within sixty (60) days of such filing; or if Licensee is adjudicated as bankrupt or insolvent; or if a bill xx equity or other proceeding for the appointment of a receiver of Licensee or other custodian for Licensee's business or assets if filed and consented to by Licensee; or if a receiver or other permanent or temporary custodian of Licensee's assets or property, or any part thereof, is appointed by any court of competent jurisdiction; or if proceedings for a composition with creditors under any state or federal law should be instituted by or against Licensee; or if a material final judgment remains unsatisfied or of record for thirty (30) days or longer (unless supersedeas bond is filed); or if Licensee is dissolved; or if a suit to foreclose any lien or mortgage against real or personal property used in the operation of Licensee's business, the loss of which would have a material adverse effect on Licensee, is instituted against Licensee and not dismissed within thirty (30) days; or if execution is levied against Licensee's business or property, the loss of which would have a material adverse effect on Licensee; or if real or personal property of Licensee used in its business, the loss of which would have a material adverse effect on Licensee, shall be sold after levy thereupon by any sheriff, marshal, or constable; or if Licensee at any time ceases to operate or otherwise abandons its business or otherwise forfeits the right to do or transact business in any market(s) in the Territory; or if Licensee loses any government license required to engage in the Business or otherwise forfeits the right to do or transact business in one or more market(s), in which event Licensee's rights under this Agreement shall automatically terminate.

  • Termination by Licensee Licensee, at its option, may terminate the Agreement by providing Licensor written notice of intent to terminate, which such termination effective will be ninety (90) days following receipt of such notice by Licensor.

  • Termination by Either Party This Agreement may be terminated upon 60 days written notice without cause or penalty by either the Company (acting through the Conflicts Committee) or the Advisor. The provisions of Articles 1, 10, 12, 13, 15 and 16 shall survive termination of this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!