Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable Property. (b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Cost of such Property; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected Property.
Appears in 2 contracts
Samples: Lease Agreement (Living Centers of America Inc), Lease (Paragon Health Network Inc)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable Propertypiece of Equipment.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Equipment Cost of such Propertypiece of Equipment; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected Propertypiece of Equipment.
Appears in 2 contracts
Samples: Lease (Hanover Compression Inc), Lease (Hanover Compressor Co)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then then, subject to the provisions of Section 30 hereof, Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Substitution Notice") of the termination of this Lease with respect to the applicable Propertyaffected Unit.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Equipment Cost of such PropertyUnit; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), as applicable, deliver a Termination Substitution Notice with respect to the affected PropertyUnit.
Appears in 2 contracts
Samples: Lease Agreement (Hanover Compressor Co /), Lease (Hanover Compressor Co /)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, obligated to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to any Property (i) within thirty (30) days after Lessee receives notice of a Total Condemnation with respect to any such Property or (ii) promptly after the applicable occurrence of a material Environmental Violation with respect to any such Property.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an a material Environmental Violation occurs or is discovered with respect to any Property, and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost that this Lease shall terminate with respect to remediate the same will exceed 10% of the Property Cost of such Property; then, then Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected Property.
Appears in 2 contracts
Samples: Lease Agreement (Quality Food Centers Inc), Lease Agreement (Fred Meyer Inc)
Termination Upon Certain Events. (a) If Agent Lessor, any Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination NoticeTERMINATION NOTICE") of the termination of this Lease with respect to the applicable PropertyLease.
(b) If either: (i) Lessee or Agent Lessor or any Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Agent Lessor and Agent an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Agent Lessor and Agent an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Cost of such Property$5,000,000; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected PropertyNotice.
Appears in 1 contract
Samples: Lease (Wind River Systems Inc)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, obligated ------------------------------- to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to any ------------------ Property (i) within thirty (30) days after Lessee receives notice of a Total Condemnation with respect to any such Property or (ii) promptly after the applicable occurrence of a Significant Environmental Event with respect to any such Property.
(ba) If eitherIf: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered with respect to any Property and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost that this Lease shall terminate with respect to remediate the same will exceed 10% of the Property Cost of such Property; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected Property.
Appears in 1 contract
Samples: Lease (Sailors Inc)
Termination Upon Certain Events. (a) If either: (i) during the Basic Term the Lessee or the Lessor or Lessee shall have received notice of a Total Condemnation, then and the Lessee shall have delivered to the Lessor a Responsible Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) during the Basic Term a Casualty occurs, and the Lessee shall have delivered to the Lessor a Responsible Officer's Certificate that such Casualty is a Significant Casualty; or (iii) during the Term an Environmental Violation occurs or is discovered and the Lessee shall have delivered to the Lessor a Responsible Officer's Certificate stating that, in the reasonable, good-faith judgment of the Lessee, the cost to remediate the same will cause the same to be obligateda Significant Event, within thirty or (30iv) days after if during the Term the Lessee receives notice thereofshall not have delivered a Termination Notice with respect to such Environmental Violation described in clause (iii) but the requirements of Section 16.3 are met with respect to such Environmental Violation; then, the (A) the Lessee shall, simultaneously with the delivery of the Responsible Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii) deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice"), or (B) of if clause (iv) is applicable, the termination of this Lease with respect Lessor may ------------------ deliver a Termination Notice pursuant to the applicable PropertySection 16.3.
(b) If eitherduring the Agency Term any of the following shall occur: (i) Lessee a Casualty or Condemnation that Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation determines is a Significant Condemnation; Casualty or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Cost of such Property; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i)Condemnation, (ii) the incurrence by any Lessor Party of any liabilities, losses, damages or expenses excluded from the Lessee's obligations under clause (iii)5)(A)(2) of the proviso to Section 13.1 of the Participation Agreement or under Section 24.1 of this Lease by the proviso to such section, deliver a Termination Notice with respect to the affected Property.or ------------
Appears in 1 contract
Samples: Master Lease (Bea Systems Inc)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total CondemnationCondemnation or a Seller's Exercise of Purchase Option, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable PropertyLease.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Cost of such Property$3,000,000; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected PropertyNotice.
Appears in 1 contract
Samples: Lease (Safeskin Corp)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable Property.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Cost of such Property$1,000,000; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected Property.
Appears in 1 contract
Samples: Lease Agreement (Kindercare Learning Centers Inc /De)
Termination Upon Certain Events. If: (ai) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty ; or (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable Property.
(b) If either: (iii) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor and Agent an Officer's Certificate that such Condemnation is a Significant Condemnation; or (iiiii) a Casualty occurs, and Lessee shall have delivered to Lessor and Agent an Officer's Certificate that such Casualty is a Significant Casualty; or (iiiiv) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor and Agent an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Cost of such Property$3,000,000; then, then Lessee shall, within thirty (30) days after Lessee receives notice of a Total Condemnation pursuant to the preceding clause (i), or simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (iii), (iiiii) or (iiiiv), deliver a notice of termination of this Lease to Lessor and Agent in the form described in Section 16.2(a) (a "Termination Notice with respect to the affected PropertyNotice").
Appears in 1 contract
Samples: Lease (Lam Research Corp)
Termination Upon Certain Events. (a) If Lessor or Lessee shall ------------------------------- have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect ------------------ to the applicable Propertypiece of Equipment.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; or (iii) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% of the Property Equipment Cost of such Propertypiece of Equipment; then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected Propertypiece of Equipment.
Appears in 1 contract
Samples: Lease (Hanover Compressor Co /)
Termination Upon Certain Events. (a) If Lessor or Lessee shall ------------------------------- have received notice of a Total CondemnationCondemnation after the Completion Date, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable Property.Lease. ------------------
(b) If either: (i) In the event Lessee or Lessor shall have received notice of a Condemnation, and Casualty or Environmental Violation, the Lessee shall have delivered be required to Lessor deliver an Officer's Certificate that stating the following: (i) if a Condemnation occurs, the Officer's Certificate shall state whether or not such Condemnation is a Significant Condemnation; or (ii) if a Casualty occurs, and Lessee shall have delivered to Lessor an the Officer's Certificate that shall state whether or not such Casualty is a Significant Casualty; or (iii) if an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an discovered, the Officer's Certificate stating thatshall state whether or not, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% $2,500,000. If Lessee confirms the occurrence of the Property Cost a Significant Condemnation, Significant Casualty or an Environmental Violation involving remediation costs in excess of such Property; $2,500,000, then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected PropertyNotice.
Appears in 1 contract
Samples: Lease (Immunex Corp /De/)
Termination Upon Certain Events. (a) If Lessor or Lessee shall ------------------------------- have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty (30) days after Lessee receives notice thereof, to deliver a written notice in the form described in Section 16.2(a) (a "Termination Notice") ------------------ of the termination of this Lease with respect to the applicable PropertyLease.
(b) If either: (i) In the event Lessee or Lessor shall have received notice of a Condemnation, and Casualty or Environmental Violation, the Lessee shall have delivered be required to Lessor deliver an Officer's Certificate that stating the following: (i) if a Condemnation occurs, the Officer's Certificate shall state whether such Condemnation is a Significant Condemnation; or (ii) if a Casualty occurs, and Lessee shall have delivered to Lessor an the Officer's Certificate that shall state whether such Casualty is a Significant Casualty; or (iii) if an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an discovered, the Officer's Certificate stating thatshall state whether, in the reasonable, good-faith judgment of Lessee, the cost to remediate the same will exceed 10% $5,000,000. If Lessee confirms the occurrence of the Property Cost a Significant Condemnation, Significant Casualty or an Environmental Violation involving remediation costs in excess of such Property; $5,000,000, then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii) or (iii), deliver a Termination Notice with respect to the affected PropertyNotice.
Appears in 1 contract
Samples: Lease (Ebay Inc)
Termination Upon Certain Events. (a) If Lessor or Lessee shall have received notice of a Total Condemnation, then Lessee shall be obligated, within thirty sixty (3060) days after Lessee receives notice thereofto Lessor and Bank thereof but no later than the Lease Maturity Date, to deliver a written notice to Lessor and Bank in the form described in Section 16.2(a17.2(a) (a "Termination Notice") of the termination of this Lease with respect to the applicable PropertyLease.
(b) If either: (i) Lessee or Lessor shall have received notice of a Condemnation, and Lessee shall have delivered to Lessor an Officer's Certificate that such Condemnation is a Significant Condemnation; or (ii) a Casualty occurs, and Lessee shall have delivered to Lessor an Officer's Certificate that such Casualty is a Significant Casualty; (iii) restoration of the Property following a Casualty or Condemnation cannot be accomplished in accordance with the terms and time frames set forth in Section 16.1(g); or (iiiiv) an Environmental Violation occurs or is discovered and Lessee shall have delivered to Lessor an Officer's Certificate stating that, in the reasonable, good-reasonable good faith judgment of Lessee, the cost to remediate the same will exceed 10% twenty-five percent (25 %) of the Property Cost of such Property; Termination Value pursuant to Section 16.2 then, Lessee shall, simultaneously with the delivery of the Officer's Certificate pursuant to the preceding clause (i), (ii), (iii) or (iiiiv), deliver a Termination Notice with respect to the affected PropertyNotice.
Appears in 1 contract
Samples: Lease (Borders Group Inc)