Rejection of Leases. In the event a tenant under any Lease should be the subject of any proceeding under the Federal Bankruptcy Act (Title 11 U.S.C.) or any other federal, state, or local statute which provides for the possible termination or rejection of the Leases assigned hereby, the Assignor covenants and agrees that if any of the Leases is so rejected, no settlement for damages shall be made without prior written consent of the Agent, and any check in payment of damages for rejection of such Lease will be made payable both to the Assignor and Agent. The Assignor hereby assigns any such payment to the Agent and further covenants and agrees that upon the request of the Agent, it will duly endorse to the order of the Agent any check, the proceeds of which will be applied to whatever portion of the indebtedness secured hereby and by the Security Documents which the Agent may elect.
Rejection of Leases. In the event a tenant under any Lease should be the subject of any proceeding under the Federal Bankruptcy Act (Title 11 U.S.C.) or any other federal, state, or local statute which provides for the possible termination or rejection of the Leases assigned hereby, the Assignor covenants and agrees that if any Lease that covers 25,000 square feet or more of the Property (a “Major Lease”) is so rejected, no settlement for damages shall be made without prior written consent of the Agent, and any check in payment of damages in respect of such Major Lease for rejection of any Major Lease will be made payable both to the Assignor and Agent. The Assignor hereby assigns any such payment to the Agent and further covenants and agrees that upon the request of the Agent, it will duly endorse to the order of the Agent any check, the proceeds of which will be applied to whatever portion of the indebtedness secured hereby and by the Security Documents which the Agent may elect.
Rejection of Leases. The rejection of any lease or termination of a real property lease by the Borrower or any of its Subsidiaries (including, without limitation, as a result of the expiration of the assumption period provided for in Section 365(d)(4) of the Bankruptcy Code), the impact of which, individually or in the aggregate with all other rejections or terminations permitted hereunder, has a material adverse effect on the business and operations of the Borrower and its Subsidiaries.
Rejection of Leases. The Borrower shall not, and shall not permit any Credit Party or Restricted Subsidiary to, reject or permit to be deemed to be rejected any leases with respect to Oil and Gas Properties without prior notice to and prompt consultation with the Lenders at least thirty (30) days before the filing of any motion for rejection or the deemed rejection of any such lease.
Rejection of Leases. Any Loan Party rejects an unexpired lease or Material Contract other than with the prior written consent of the Agent and the Required Lenders.
Rejection of Leases. Trustor further covenants and agrees as follows:
(a) In the event a commercial tenant under a Lease becomes the subject of any proceeding under the Federal Bankruptcy Code or any other federal, state or local statute which provides for the possible termination or rejection of the Lease, Trustor covenants and agrees that in the event the Lease is so rejected, no damage settlement shall be made without the prior written consent of Beneficiary.
(b) Trustor will request that any check in payment of damages for rejection or termination of any such Lease will be made payable to both Trustor and Beneficiary.
(c) Trustor hereby assigns any such payment to Beneficiary and further covenants and agrees that upon request of Beneficiary, it will duly endorse to the order of Beneficiary any such check, the proceeds of which will be applied to any portion of the indebtedness secured by this Deed of Trust in such manner as Beneficiary may elect.
Rejection of Leases. Section 5:5-31 of the Loan and Security Agreement is hereby amended by adding the following text immediately following "Section 365 of the Bankruptcy Code" in the second sentence of such Section 5:5-31: "and to the extent that the Borrowers shall have failed to file any motions pursuant to Section 12:12-3(c)(i) and (ii)".
Rejection of Leases. Guarantor and the Lessees shall (i) file the Motion to Assume and Reject within five (5) Business Days of the Filing Date, and (ii) use good faith efforts to obtain entry of the Assumption and Rejection Order on or before the earlier of (y) forty-five (45) days after the Motion Filing Date or (z) the entry of a final DIP Financing Order which provides that the security interest of the lender primes the collateral of one or more of the Lessors under a Security Agreement, unless extended in writing by the Lessors. During the Forbearance Period and from and after the Effective Date, Lessors shall support entry of the Assumption and Rejection Order and shall not oppose entry of the orders filed by Lessees and their Affiliates on the date the Case or Cases are filed with respect to DIP financing, cash collateral arrangements and debtors' cash management, or any orders filed by Lessees and their Affiliates thereafter relating to the same subject matter provided in each case such subsequent orders are not at variance in any material respect that adversely affects Lessors, the Leases, the Facilities covered by the Leases or the rights of the Lessors under the Leases or this Agreement, with the orders sought on the day the Case or Cases are filed copies of which have been provided to Lessors prior to the date of this Agreement. The Motion to Assume and Reject shall seek, among other things, authorization to reject the following Leases: LESSOR LESSEE LEASE DATE
1. Omega Healthcare Investors, Inc. SunBridge Healthcare June 1, 1990 (successor by merger to Health Corporation (successor Equity Properties, Inc.) by assignment to Complete Care, Inc.)
2. Omega Healthcare Investors, Inc. SunBridge Healthcare February 28, 1997 (with respect to the Facility in Austin, Corporation Texas and the Facility in Mason City, Iowa)
Rejection of Leases. Prior to the Closing, Seller shall file a motion to the Bankruptcy Court to reject all Unassumed Properties as of September 30, 2003. Seller's leasehold interest in the real property located at 000 Xxxx Xxxxxx, Hollywood, California, shall remain a part of Seller's estate and shall be assumed or rejected in Seller's sole discretion.
Rejection of Leases. Debtor shall have rejected each of the Debtor Leases and such rejection shall have been approved by the Bankruptcy Court prior to or concurrently with the closing of the Asset Purchase Agreement.
