Replacement Lease. If (i) Tenant is not the Person that constituted Tenant initially, and (ii) either (I) this Lease is disaffirmed or rejected pursuant to the Bankruptcy Code, or (II) this Lease terminates by reason of occurrence of an Insolvency Event, then, subject to the terms of this Section 20.2, the Persons that constituted Tenant hereunder previously, including, without limitation, the Person that constituted Tenant initially (each such Person that previously constituted Tenant hereunder (but does not then constitute Tenant hereunder), and with respect to which Landlord exercises Landlord’s rights under this Section 20.2, being referred to herein as a “Predecessor Tenant”) shall (1) pay to Landlord the aggregate Rental that is then due and owing by Tenant to Landlord under this Lease to and including the date of such disaffirmance, rejection or termination, and (2) enter into a new lease, between Landlord, as landlord, and the Predecessor Tenant, as tenant, for the Premises, and for a term commencing on the effective date of such disaffirmance, rejection or termination and ending on the Fixed Expiration Date, at the same Fixed Rent and upon the then executory terms that are contained in this Lease, except that (a) the Predecessor Tenant’s rights under the new lease shall be subject to the possessory rights of Tenant under this Lease and the possessory rights of any Person claiming by, through or under Tenant or by virtue of any statute or of any order of any court, and (b) such new lease shall require all defaults existing under this Lease to be cured by the Predecessor Tenant with reasonable diligence. Landlord shall have the right to require the Predecessor Tenant to execute and deliver such new lease on the terms set forth in this Section 20.2 only by giving notice thereof to Tenant within thirty (30) days after Landlord receives notice of any such disaffirmance or rejection (or, if this Lease terminates by reason of Landlord making an election to do so, then Landlord may exercise such right only by giving such notice to Tenant within thirty (30) days after this Lease so terminates). If the Predecessor Tenant defaults in its obligation to enter into said new lease for a period of ten (10) days following Landlord’s request therefor, then, in addition to all other rights and remedies by reason of such default, either at law or in equity, Landlord shall have the same rights and remedies against such Predecessor Tenant as if such Predecessor Tenant had entered into su...
Replacement Lease. If, at any time after Initial Tenant herein has assigned Tenant's interest in this Lease, this Lease is disaffirmed or rejected in connection with the occurrence of an Insolvency Event, or is terminated by reason of the occurrence of an Event of Default, then any prior Tenant, including, without limitation, Initial Tenant, upon request of Landlord, shall (1) pay to Landlord all Rental due and owing by the assignee to Landlord under this Lease to and including the date of such disaffirmance, rejection or termination, and (2) as "tenant", enter into a new lease with Landlord for the Premises for a term commencing on the effective date of such disaffirmance, rejection or termination and ending on the Fixed Expiration Date, unless sooner terminated as in such lease provided, at the same Fixed Rent and upon the then executory terms, covenants and conditions as are contained in this Lease, except that (a) Tenant's rights under the new lease shall he subject to the possessory rights of the assignee under this Lease and the possessory rights of any person claiming through or under such assignee or by virtue of any statute or of any order of any court, and (b) such new lease shall require all defaults existing under this Lease to be cured by Tenant with due diligence.
Replacement Lease. (a) If Landlord delivers written notice to Collateral Agent that it intends to terminate the Lease due to default, or if any action is taken to terminate or disclaim the Lease in connection with Tenant’s ability to pay its creditors when due, Landlord agrees that if Collateral Agent then delivers to Landlord a written request for a new lease of the Ground Mount Site, within a period of sixty (60) days from receipt of such written notice by Collateral Agent, Landlord shall grant a new lease of the Ground Mount Site to Collateral Agent, for the balance of the term of the Lease from and after such termination and (except for the term) upon the same terms and conditions of the Lease.
(b) Landlord’s obligation to grant such a new lease is conditional on:
(i) Collateral Agent and Landlord agreeing in writing to any amendment of the Lease required by its terms;
(ii) Landlord being paid, on the date Collateral Agent delivers such request for a new lease, all monies due and owing to Landlord under the Lease immediately before its termination; and
(iii) Collateral Agent commencing to diligently remedy all defaults under the Lease that existed immediately before such termination to the extent such defaults are capable of remedy by Collateral Agent, subject to the right given to Collateral Agent in Section 3(b) of this Agreement.
Replacement Lease. At the Closing, Seller shall cause BGM Holdings, LLC to enter into a lease with the Company, as attached hereto as Exhibit B (the “Replacement Lease”) pursuant to which lease currently covering the Leased Real Property shall be terminated and superseded in all respects.
Replacement Lease. The Replacement Lease, duly executed by BGM Holdings, LLC.
Replacement Lease. 20 Section 12.6. Certain Rights to Sublease............................21 Section 12.7. Sublease Profit.......................................22 Section 12.8. Certain Rights to Assign..............................22 Section 12.9. Assignment Profit.....................................23
Replacement Lease. Upon the written request of either Successor Landlord or Tenant to the other, given at or about the time of any judicial or nonjudicial foreclosure sale, or any conveyance in lieu thereof, the parties agree to execute a new replacement lease of the Leased Premises upon the same terms and conditions as the Lease between Borrower and Tenant, which replacement lease shall cover any unexpired term of the Lease (and shall include any extension or renewal options contemplated thereby) existing prior to such foreclosure sale or conveyance in lieu thereof.
Replacement Lease. Buyer must have received evidence, satisfactory to Buyer, that Xxxxxx and Landlord have entered into the Replacement Lease.
Replacement Lease. 37 6.15 Florida Dealers License.............................................................37 6.16 HSR Act and Other Filings...........................................................37
Replacement Lease. This lease replaces in its entirety, that any leases between the parties hereto related to the Equipment leased hereunder ("Prior Lease"). The Prior Lease is hereby terminated and of no further force and effect. (Signatures Continued on Next Page)
