Rejection by Tenant Sample Clauses

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
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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
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 of the Leasehold Estate 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 of the Leasehold Mortgagee under this Section 6 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 proceedings, the rights of any Leasehold Mortgagee to a New Lease from Landlord pursuant to Section 6.07 hereof shall not be affected thereby.
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:

  • 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 Licensor, at its option, may immediately terminate the Agreement, or any part of Patent Rights, or any part of Field, or any part of Territory, or the exclusive nature of the license grant, upon delivery of written notice to Licensee of Licensor’s decision to terminate, if any of the following occur:

  • Removal of Tenant Property by Tenant Upon the expiration of the Lease Term, or upon any earlier termination of this Lease, Tenant shall, subject to the provisions of this Article 15, quit and surrender possession of the Premises to Landlord in as good order and condition as when Tenant took possession and as thereafter improved by Landlord and/or Tenant, reasonable wear and tear and repairs which are specifically made the responsibility of Landlord hereunder excepted. Upon such expiration or termination, Tenant shall, without expense to Landlord, remove or cause to be removed from the Premises all debris and rubbish, and such items of furniture, equipment, business and trade fixtures, free-standing cabinet work, movable partitions and other articles of personal property owned by Tenant or installed or placed by Tenant at its expense in the Premises, and such similar articles of any other persons claiming under Tenant, as Landlord may, in its sole discretion, require to be removed, and Tenant shall repair at its own expense all damage to the Premises and Building resulting from such removal.

  • Termination by Licensee 10.1 Licensee will have the right at any time to terminate this Agreement in whole or as to any portion of Patent Rights by giving notice in writing to The Regents. Such Notice of Termination will be subject to Article 18. (Notices) and termination of this Agreement will be effective sixty (60) days after the effective date thereof.

  • 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.

  • Indemnification by Tenant Except to the extent caused by the sole negligence, gross negligence or willful misconduct of any of the Indemnified Landlord Parties, Tenant shall defend, indemnify and save harmless Landlord and Landlord’s trustees, and their respective officers, managers, agents directors, employees, subsidiaries, affiliates, successors and assigns (collectively, the “Indemnified Landlord Parties”) against all costs (including reasonable attorneys’ fees, charges and disbursements), damages, liabilities, losses, suits or claims (collectively, “Claims”), for bodily or personal injury or property damage occurring during the Term on the Property caused by Tenant or its officers, managers, agents, directors, subsidiaries, affiliates, successors, assigns, invitees, visitors or contractors, and shall, at its own expense, defend, indemnify and save harmless Landlord and the other Indemnified Landlord Parties against all Claims brought against Landlord and/or the other Indemnified Landlord Parties, for which Tenant is responsible for indemnification hereunder, and if Tenant fails to do so, Landlord or any Indemnified Landlord Party (at its option, but without being obligated to do so) may, at the reasonable cost and expense to Tenant and upon notice to Tenant in the manner set forth in Section 18, defend such Claims and Tenant shall pay and discharge any and all judgments, costs, liabilities, losses, and expenses, including reasonable attorneys’ fees, charges and disbursements, that arise therefrom. In no event shall Tenant be liable to Landlord or any Indemnified Landlord Party under this Lease or at law or in equity for punitive damages.

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