Tenant’s Personal Property. At the expiration or sooner termination of the Term, Landlord may, in its sole and absolute discretion, elect either (i) to give Tenant Notice that Tenant shall be required, within ten (10) Business Days after such expiration or termination, to remove all FAS and Inventories from the Leased Property or (ii) to pay Tenant's book value of such FAS and Inventories. Failure of Landlord to make such election shall be deemed an election to proceed in accordance with clause (ii) preceding.
Appears in 8 contracts
Samples: Lease Agreement (CNL Hospitality Properties Inc), Lease Agreement (CNL Hospitality Properties Inc), Lease Agreement (CNL Hospitality Properties Inc)
Tenant’s Personal Property. At the expiration or sooner termination of the Term, Landlord may, in its sole and absolute discretion, elect either (ia) to give Tenant Notice that Tenant shall be required, within ten (10) 10 Business Days after such expiration or termination, to remove all FAS and Inventories Tenant’s Personal Property from the Leased Property or (iib) to pay buy Tenant's ’s Personal Property by paying Tenant the book value of such FAS and Inventoriesproperty. Failure of Landlord to make such election shall be deemed an election to proceed in accordance with clause (iib) precedingof this Section 5.5.
Appears in 7 contracts
Samples: Lease Agreement (ESH Hospitality, Inc.), Lease Agreement (ESH Hospitality, Inc.), Lease Agreement (ESH Hospitality, Inc.)
Tenant’s Personal Property. At the expiration or sooner termination of the Term, Landlord may, in its sole and absolute discretion, elect either (ia) to give Tenant Notice that Tenant shall be required, within ten (10) Business Days after such expiration or termination, to remove all FAS and Inventories from the Leased Property or (iib) to pay Tenant's book value of such FAS and Inventories. Failure of Landlord to make such election shall be deemed an election to proceed in accordance with clause (iib) preceding.
Appears in 2 contracts
Samples: Lease Agreement (CNL Hospitality Properties Inc), Lease Agreement (CNL Hospitality Properties Inc)
Tenant’s Personal Property. At the expiration or sooner termination of the Term, Landlord may, in its sole and absolute discretion, elect either either: (ia) to give Tenant Notice that Tenant shall be required, within ten thirty (1030) Business Days after such expiration or termination, to remove all FAS and Inventories of Tenant’s Personal Property from the Leased Property Property; or (iib) to pay Tenant's ’s book value of such FAS and InventoriesTenant’s Personal Property. Failure of Landlord to make such election shall be deemed an election to proceed in accordance with clause (iib) preceding.
Appears in 2 contracts
Samples: Master Lease (CNL Income Properties Inc), Master Lease (CNL Income Properties Inc)
Tenant’s Personal Property. At the expiration or sooner termination of the Term, Landlord may, in its sole and absolute discretion, elect either (ia) to give Tenant Notice that Tenant shall be required, within ten (10) Business Days after such expiration or termination, to remove all FAS and Inventories of Tenant’s Personal Property from the Leased Property or (iib) to pay buy Tenant's ’s Personal Property by paying Tenant the book value of such FAS and Inventoriesproperty. Failure of Landlord to make such election shall be deemed an election to proceed in accordance with clause (iib) preceding.
Appears in 1 contract
Tenant’s Personal Property. At the expiration or sooner termination of the Term, Landlord may, in its sole and absolute discretion, elect either (ia) to give Tenant Notice that Tenant shall be required, within ten (10) Business Days after such expiration or termination, to remove all FAS Tenant’s Personal Property and Inventories from the Leased Property or (iib) to pay buy such Tenant's ’s Personal Property and Inventories by paying Tenant the book value of such FAS and Inventoriesproperty. Failure of Landlord to make such election shall be deemed an election to proceed in accordance with the preceding clause (ii) precedingb).
Appears in 1 contract