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. (b) Following any rejection by Lessor of the purchase offer for the Leased Property pursuant to the provisions of Section 15.6(xi), subject to the condition that Lessee shall have: (i) timely paid the Recourse Deficiency Amount to Lessor on or before the Lease Termination Date, (ii) duly and timely fulfilled each of the other provisions of clauses (i) through (xiii) of Section 15.6 on or before the Lease Termination Date, and (iii) on and after the Lease Termination Date, timely fulfilled each and every obligation of the Lessee under the Lease Agreement, the Participation Agreement and the other Operative Documents on its part to be performed, and no Event of Default shall have occurred, then, upon the subsequent sale of the Leased Property by Lessor to a third party, Lessor shall pay to Lessee an amount equal to the Lessor's gain (if any) on the sale, computed taking into account Lessor's total investment in the Leased Property (including, without limitation, the unpaid balance of the Loan, if any, and the unrecovered balance of the Contribution) plus all of Lessor's unreimbursed costs and expenses (capital or otherwise) relating to the Leased Property, plus an annual return thereon computed at the Overdue Rate, less the net avails of any reletting of the Leased Property or any part thereof. To the extent that Lessor shall receive payment in the form of purchase-money indebtedness in connection with any such sale, Lessor's duty to account to Lessee pursuant to this Section 15.7(b) shall be suspended until such time as Lessor receives payment thereon.

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. (b) Following any rejection by Lessor of the purchase offer for the Leased Property pursuant to the provisions of Section 15.6(xi), subject to the condition that Lessee shall have: (i) timely paid the Recourse Deficiency Amount to Lessor on or before the Lease Termination Date, (ii) duly and timely fulfilled each of the other provisions of clauses (i) through (xiii) of Section 15.6 on or before the Lease Termination Date, and (iii) on and after the Lease Termination Date, timely fulfilled each and every obligation of the Lessee under the Lease Agreement, the Participation Agreement and the other Operative Documents on its part to be performed, and no Event of Default shall have occurred, then, upon the subsequent sale of the Leased Property by Lessor to a third party, Lessor shall pay to Lessee an amount equal to the Lessor's gain (if any) on the sale, computed taking into account Lessor's total investment in the Leased Property (including, without limitation, the unpaid balance of the Loan, if any, and the unrecovered balance of the ContributionLessor's Investment) plus all of Lessor's unreimbursed costs and expenses (capital or otherwise) relating to the Leased Property, plus an annual return thereon computed at the Overdue Rate, less the net avails of any reletting of the Leased Property or any part thereof. To the extent that Lessor shall receive payment in m the form of purchase-money indebtedness in connection with any such sale, Lessor's duty to account to Lessee pursuant to this Section 15.7(b) shall be suspended until such time as Lessor receives payment thereon.

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. (b) Following any rejection by the Lessor of the purchase offer offer(s) for the Leased Property pursuant to the provisions of Section 15.6(xi), subject to the condition that Lessee shall have: (i) timely paid the Recourse Deficiency Amount to Lessor on or before the Lease Termination Date, (ii) duly and timely fulfilled each of the other provisions of clauses (i) through (xiii) of Section 15.6 on or before the Lease Termination Date, and (iii) on and after the Lease Termination Date, timely fulfilled each and every obligation of the Lessee under the Lease AgreementLease, the Participation Agreement and the other Operative Documents on its part to be performed, and no Event of Default shall have occurred, then, upon the subsequent sale of all, but not less than all, of the Leased Property by Lessor to a one or more third partyparties, Lessor shall pay to Lessee an amount equal to the Lessor's gain (if any) on the salesales, computed taking into account Lessor's total investment in the Leased Property (including, without limitation, the unpaid balance of the Loan, if any, and the unrecovered balance of the Contribution) plus all of Lessor's unreimbursed costs and expenses (capital or otherwise) relating to the Leased Property, plus an annual return thereon for up to twelve (12) months following the Lease Termination Date (but not thereafter) computed at the Overdue Rate, less the net avails of any reletting of the such Leased Property or any part thereof. To the extent that Lessor shall receive payment in the form of purchase-money indebtedness in connection with any such sale, Lessor's duty to account to Lessee pursuant to this Section 15.7(b) shall be suspended until such time as Lessor receives payment thereon.

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. (b) Following any rejection by the Lessor of the purchase offer offer(s) for the Leased Property pursuant to the provisions of Section SECTION 15.6(xi), subject to the condition that Lessee shall have: (i) timely paid the Recourse Deficiency Amount to Lessor on or before the Lease Termination Date, (ii) duly and timely fulfilled each of the other provisions of clauses (i) through (xiii) of Section SECTION 15.6 on or before the Lease Termination Date, and (iii) on and after the Lease Termination Date, timely fulfilled each and every obligation of the Lessee under the Lease AgreementLease, the Participation Agreement and the other Operative Documents on its part to be performed, and no Event of Default shall have occurred, thenTHEN, upon the subsequent sale of all, but not less than all, of the Leased Property by Lessor to a one or more third partyparties, Lessor shall pay to Lessee an amount equal to the Lessor's gain (if any) on the salesales, computed taking into account Lessor's total investment in the Leased Property (including, without limitation, the unpaid balance of the Loan, if any, and the unrecovered balance of the Contribution) plus all of Lessor's unreimbursed costs and expenses (capital or otherwise) relating to the Leased Property, plus an annual return thereon computed at the Overdue Rate, less the net avails of any reletting of the Leased Property or any part thereof. To the extent that Lessor shall receive payment in the form of purchase-money indebtedness in connection with any such sale, Lessor's duty to account to Lessee pursuant to this Section 15.7(b) shall be suspended until such time as Lessor receives payment thereon).

Rejection of Sale. (a) Notwithstanding anything contained herein to the contrary, if the Lessor rejects the purchase offer for the Leased Property as provided in Section SECTION 15.6(xi)) hereof, then (i) on the Lease Termination Date the Lessee shall pay to the Lender (Credit Bank without notice or to such other Person as Lessor shall direct) demand the Recourse Deficiency Amount pursuant to Section 15.6(xi)in the manner provided in SECTION 15.6(x) hereof, (ii) the Lessor shall retain title to the Leased Property and (iii) in addition to the Lessee's other obligations hereunder, the Lessee will shall be responsible for, and shall reimburse the Lessor, within ten (10) Business Days after written request, for all reasonable costs and expenses incurred by the Lessor during the period ending on the first anniversary of the Lease Termination Date in connection with the owning, paying taxes with respect to, maintaining, insuring, 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. (b) Following any rejection by the Lessor of the purchase offer for the Leased Property pursuant to the provisions of Section 15.6(xi)SECTION 15.6(XI) hereof, subject to the condition that the Lessee shall have: (i) timely paid the Recourse Deficiency Amount to Lessor the Credit Bank on or before the Lease Termination Date, (ii) duly and timely fulfilled each of the other provisions of clauses (i) through (xiii) of Section 15.6 the Remarketing Conditions on or before the Lease Termination Date, and (iii) on and after the Lease Termination Date, timely fulfilled each and every obligation of the Lessee under the Lease Agreementthis Lease, the Participation Agreement and the other Operative Documents on its part to be performed, and no Event of Default shall have occurred, thenTHEN, upon the subsequent sale of the Leased Property by the Lessor to a third party, the Lessor shall pay to the Lessee an amount equal to the Lessor's gain (if any) on the sale, computed taking into account the Lessor's total investment in the Leased Property (including, without limitation, the unpaid balance any portion of the LoanLease Balance remaining unpaid after application of the Recourse Deficiency Amount paid pursuant to SECTION 15.6(x) hereof, if any, and the unrecovered balance of the Contribution) plus all of the Lessor's unreimbursed costs and expenses (capital or otherwise) relating to the Leased Property, plus an annual return thereon computed at the Overdue Rate, less the net avails of any reletting of the Leased Property or any part thereof. To the extent that the Lessor shall receive payment in the form of purchase-money indebtedness in connection with any such sale, the Lessor's duty to account to the Lessee pursuant to this Section SECTION 15.7(b) shall be suspended until such time as the Lessor receives payment thereon.

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. (b) Following any rejection by the Lessor of the purchase offer offer(s) for the Leased Property pursuant to the provisions of Section 15.6(xi), subject to the condition that Lessee shall have: (i) timely paid the Recourse Deficiency Amount to Lessor on or before the Lease Termination Date, (ii) duly and timely fulfilled each of the other provisions of clauses (i) through (xiii) of Section 15.6 on or before the Lease Termination Date, and (iii) on and after the Lease Termination Date, timely fulfilled each and every obligation of the Lessee under the Lease AgreementLease, the Participation Agreement and the other Operative Documents on its part to be performed, and no Event of Default shall have occurred, then, upon the subsequent sale of all, but not less than all, of the Leased Property by Lessor to a one or more third partyparties, Lessor shall pay to Lessee an amount equal to the Lessor's gain (if any) on the salesales, computed taking into account Lessor's total investment in the Leased Property (including, without limitation, the unpaid balance of the Loan, if any, and the unrecovered balance of the Contribution) plus all of Lessor's unreimbursed costs and expenses (capital or otherwise) relating to the Leased Property, plus an annual return thereon for up to 12 months following the Lease Termination Date (but not thereafter) computed at the Overdue Rate, less the net avails of any reletting of the such Leased Property or any part thereof. To the extent that Lessor shall receive payment in the form of purchase-money indebtedness in connection with any such sale, Lessor's duty to account to Lessee pursuant to this Section 15.7(b) shall be suspended until such time as Lessor receives payment thereon.