Retention of Letter of Credit. Upon termination of this Lease due to expiration of the Term, pursuant to an Event of Default or for any reason other than Tenant's purchase of the Leased Property, Landlord shall be entitled to hold the Letter of Credit until the Secured Obligations are performed in full or are released by Landlord.
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Samples: Master Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Alterra Healthcare Corp), Master Lease Agreement (Brookdale Senior Living Inc.)
Retention of Letter of Credit. Upon termination of this Lease due to expiration of the Term, pursuant to an Event of Default or for any reason other than Tenant's ’s purchase of the Leased Property, Landlord shall be entitled to hold the Letter of Credit until the Secured Obligor Group Obligations are performed in full or are released by LandlordLandlord and thereafter Landlord shall return the Letter of Credit to the Issuer and release all rights thereto.
Appears in 2 contracts
Samples: Master Lease Agreement (LifeCare Holdings, Inc.), Master Lease Agreement (LifeCare Holdings, Inc.)
Retention of Letter of Credit. Upon termination of this Lease due to expiration of the Term, pursuant to an Event of Default or for any reason other than Tenant's purchase of the Leased Property, Landlord shall be entitled to hold the Letter of Credit until the Secured Obligor Group Obligations are performed in full or are released by Landlord.
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Retention of Letter of Credit. Upon termination of this Lease due to expiration of the Term, pursuant to an Event of Default or for any reason other than Tenant's ’s purchase of the Leased Property, Landlord shall be entitled to hold the Letter of Credit until the Secured Obligor Group Obligations are performed in full or are released by Landlord.
Appears in 1 contract
Samples: Master Lease Agreement (Capital Senior Living Corp)
Retention of Letter of Credit. Upon termination of this Lease due to expiration of the Term, pursuant to an Event of Default or for any reason other than Tenant's ’s purchase of the Leased Property, Landlord shall be entitled to hold the Letter of Credit until the Secured Obligations are performed in full or are released by Landlord.
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