Common use of Rejection of Sale Clause in Contracts

Rejection of Sale. (a) Notwithstanding anything contained herein to the contrary, if Lessor rejects the purchase offer for the Leased Property as provided in Section 15.6(xi), then (i) Lessee shall pay to the Lender (or to such other Person as Lessor shall direct) the Recourse Deficiency Amount pursuant to Section 15.6(xi), (ii) Lessor shall retain title to the Leased Property and (iii) in addition to Lessee's other obligations hereunder, Lessee will reimburse Lessor, within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by Lessor during the period ending on the first anniversary of the Lease Termination Date in connection with the marketing, sale, closing or transfer of the Leased Property, which obligation shall survive the Lease Termination Date and the termination or expiration of this Lease.

Appears in 2 contracts

Samples: Lease and Development Agreement (Huffy Corp), Lease and Development Agreement (Eagle Usa Airfreight Inc)

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Rejection of Sale. (a) Notwithstanding anything contained ----------------- herein to the contrary, if the Lessor or the Agent rejects the purchase offer for the Leased Property as provided in Section 15.6(xi)14.6, then (ia) the ------------ Lessee shall pay to the Lender (or to such other Person as Lessor shall direct) Agent the Recourse Deficiency Amount pursuant to Section 15.6(xi14.6(i), (iib) the Lessor shall retain title to the Leased Property Property, --------------- and (iiic) in addition to the Lessee's other obligations hereunder, the Lessee will reimburse Lessorthe Lessor and the Agent, within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by the Lessor or Agent during the period ending on the first anniversary of the Lease Termination Date in connection with the marketing, sale, closing or transfer of the Leased Property, which obligation shall survive the Lease Termination Date and the termination or expiration of this Lease.

Appears in 1 contract

Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)

Rejection of Sale. (a) Notwithstanding anything contained ----------------- herein to the contrary, if the Lessor or the Agent rejects the purchase offer for the Leased Property as provided in Section 15.6(xi)14.6, then (ia) the ------------ Lessee shall pay to the Lender (or to such other Person as Lessor shall direct) Agent the Recourse Deficiency Amount pursuant to Section 15.6(xi14.6(i), (iib) the Lessor shall retain title to its interest in the Leased Property --------------- Property, and (iiic) in addition to the Lessee's other obligations hereunder, the Lessee will reimburse Lessorthe Lessor and the Agent, within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by the Lessor or Agent during the period ending on the first anniversary of the Lease Termination Date in connection with the marketing, sale, closing or transfer of the Leased Property, which obligation shall survive the Lease Termination Date and the termination or expiration of this Lease.

Appears in 1 contract

Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)

Rejection of Sale. (a) Notwithstanding anything contained herein to the contrary, if Lessor rejects the purchase offer offer(s) for the Leased Property as provided in Section 15.6(xi), SECTION 15.6(a)(xi) then (i) Lessee shall pay to the Lender (or to such other Person person as Lessor shall direct) the Recourse Deficiency Amount pursuant to Section SECTION 15.6(xi), (ii) Lessor shall retain title to the Leased Property and (iii) in addition to Lessee's other obligations hereunder, Lessee will reimburse Lessor, Lessor within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by Lessor Lessor, during the period ending on the first anniversary of the Lease Termination Remarketing Date in connection with the marketing, sale, closing or transfer of the Leased Propertysuch Series of Properties, which obligation shall survive the Lease Termination Date and the termination or expiration of this LeaseLease with respect thereto.

Appears in 1 contract

Samples: Lease and Development Agreement (STB Systems Inc)

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Rejection of Sale. (a) Notwithstanding anything contained herein to the contrary, if Lessor rejects the purchase offer offer(s) for the Leased Property as provided in Section 15.6(xi), 15.6(a)(xi) then (i) Lessee shall pay to the Lender (or to such other Person person as Lessor shall direct) the Recourse Deficiency Amount pursuant to Section 15.6(xi), (ii) Lessor shall retain title to the Leased Property and (iii) in addition to Lessee's other obligations hereunder, Lessee will reimburse Lessor, Lessor within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by Lessor Lessor, during the period ending on the first anniversary of the Lease Termination Remarketing Date in connection with the marketing, sale, closing or transfer of the Leased Property, Property which obligation shall survive the Lease Termination Date and the termination or expiration of this LeaseLease with respect thereto.

Appears in 1 contract

Samples: Master Lease and Development Agreement (Atria Communities Inc)

Rejection of Sale. (a) Notwithstanding anything contained herein to the contrary, if Lessor rejects the purchase offer offer(s) for the Leased Property as provided in Section 15.6(xi), 15.6(a)(xi) then (i) Lessee shall pay to the Lender (or to such other Person person as Lessor shall direct) the Recourse Deficiency Amount pursuant to Section 15.6(xi), (ii) Lessor shall retain title to the Leased Property and (iii) in addition to Lessee's other obligations hereunder, Lessee will reimburse Lessor, Lessor within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by Lessor Lessor, during the period ending on the first anniversary of the Lease Termination Remarketing Date in connection with the marketing, sale, closing or transfer of the Leased Propertysuch Series of Properties, which obligation shall survive the Lease Termination Date and the termination or expiration of this LeaseLease with respect thereto.

Appears in 1 contract

Samples: Master Lease and Development Agreement (Eagle Usa Airfreight Inc)

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