Release of Lessee. If Lessee completes the sale of the Assets to ------------------ Assignee, Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease.
Release of Lessee. Any assignment of this Lease by Lessee in accordance with Section 8.1 shall operate to terminate the liability of Lessee for all obligations under this Lease accruing after the date of any such assignment.
Release of Lessee. In the event that Lessee is now or becomes (except for voluntary enlistment) a member of the Armed Forces of the United States on active duty and receives change-of-duty orders to depart the local area, or is relieved or discharged from active duty, then Lessee may terminate this Agreement by giving Lessor thirty (30) days written notice, provided that Lessee is not otherwise in default or breach. In such event Xxxxxx agrees to furnish Lessor a certified copy of such official orders which warrant termination of this Agreement: it is expressly provided, however, that orders authorizing base housing shall not constitute change-of-duty orders warranting termination by Lessee. Lessee shall not be released from this Agreement for any other reason.
Release of Lessee. Upon the transfer of all of the Lessee's interest in the Optioned Property pursuant to this Section, the Lessee shall be released from, and relieved of, all of its obligations hereunder without any further action on the part of the Lessor or the Lessee.
Release of Lessee. Lessee shall be relieved from its obligations under this Lease:
(a) by any whole disposition of Lessee’s interest in this Lease in compliance with Section 15.1, when coupled with a written instrument signed by the assignee or transferee of such interest in which said assignee or transferee accepts and agrees to be bound by the terms of this Lease, unless the Parties agree otherwise, and except as otherwise provided by the terms of any assignment or transfer; and
(b) in the event of any foreclosure by a Leasehold Mortgagee, in which case the Leasehold Mortgagee shall substitute for the Lessee for purposes of this Lease; provided, however, that the Leasehold Mortgagee subsequently shall be entitled to assign its right under this Lease in accordance with the provisions of Section 15.1. Absent express written consent of Lessor, the execution of a Leasehold Mortgage or any assignment from a Leasehold Mortgagee to another Leasehold Mortgagee shall not relieve Lessee from its obligations under this Lease.
Release of Lessee. If Lessee completes the sale of the Assets to Assignee, Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease. Lessor agrees that it will provide Lessee with written notice of any default by Assignee under the Lease at the time that any such notice is provided to Assignee in accordance with the notice provisions of the Lease. Lessor agrees to reserve to Lessee the right, concurrent with Assignee, to cure any such within the cure period provided under the default provisions of the Lease. For purposes of Lessee's cure right, the cure period under the default provisions shall commence on the date notice is received by Lessee. Such right, if exercised, shall act as a reassignment of the Lease from Assignee to Lessee and Lessor hereby consents to a reassignment of the Lease from Assignee to Lessee. Assignee agrees to reassign the Lease from Assignee to Lessee, effective immediately upon expiration of the cure period as provided for in the default provisions of the Lease if the Lessee has cured, and the Assignee has not cured, in accordance with the default provisions of the Lease. In the event of such reassignment Lessee shall perform all duties and assume all obligations and liabilities arising under the Lease.
Release of Lessee. Unless LESSOR has given LESSEE(S) a written release, LESSEE(S) will not be released from this Lease for any reason – including but not limited to voluntary or involuntary school withdrawal or transfer, voluntary or involuntary job transfer, marriage, separation, divorce, reconciliation, loss of CO-LESSEE(S) or CO-MAKER, loss of employment, bad health, or death.
Release of Lessee. The City releases the Lessee from liability to the City for Contamination and the presence of Hazardous Substances that existed prior to the commencement date of this lease unless caused or materially contributed to by the Lessee.
Release of Lessee. Effective as of the Termination Date, and subject to the agreements, representations, warranties and indemnities contained in this Agreement, which agreements, representations, warranties and indemnities shall survive the termination of the Master Lease and the Leases, Lessor forever releases and discharges Lessee from any and all claims, demands or causes of action whatsoever against Lessee or its successors and assigns arising out of or in connection with the Equipment, the Master Lease or the Leases and forever releases and discharges Lessee from any obligations to be observed or performed by Lessee under the Master Lease and the Leases.
Release of Lessee. In the event that Lessee is now or becomes (except for voluntary enlistment) a member of the Armed Forces of the United States on active duty and receives change-of-duty orders to depart the local area, or is relieved or discharged from active duty, then Lessee may terminate this Agreement by giving Lessor thirty (30) days written notice,
