TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Xxxxxxx Money Deposit shall be refunded to Buyer.
TIME BEING OF THE ESSENCE in connection with the exercise of Tenant's option pursuant to this Article.
TIME BEING OF THE ESSENCE the Security Deposit as defined in the Preamble for the full and faithful performance of Lessee’s obligations under this Lease, including without limitation, the surrender of possession of the Premises to Lesser as herein provided. If Lessor applies any part of said Security Deposit to cure any default of Lessee, Lessee shall, on demand, deposit with Lessor the amount so applied so that Lessor shall have the full Security Deposit on hand at all times during the Term of this Lease. In the event a bona fide sale, subject to this Lease, Lessor shall have the right to transfer the Security Deposit to the vendee, and Lessor shall be considered released by Lessee from all liability for the return of the Security Deposit; and Lessee agrees to look solely to the new lessor for the return of the Security Deposit, and it is agreed that this shall apply to every transfer or assignment made of the Security Deposit to the new lessor. Provided this Lease is not in default, the Security Deposit (less any portions thereof used, applied or retained by Lessor in accordance with the provisions of this Article 16), shall be returned to Lessee after the expiration or sooner termination of this Lease and after delivery of the entire Premises to Lessor in accordance with the provisions of this Lease. Lessee covenants that it will not assign or encumber or attempt to assign or encumber the Security Deposit and Lessor shall not be bound by any such assignment, encumbrance or attempt thereof. In the event of the insolvency of Lessee, or in the event of the entry of a judgement in any court against Lessee which is not discharged within thirty (30) days after entry, or in the event a petition is filed by or against Lessee under any chapter of the bankruptcy laws of the State of New Jersey or the United States of America, then in such event, Lessor may require the Lessee to deposit additional security in an amount which in Lessor’s sole judgement would be sufficient to adequately assure Lessee’s performance of all of its obligations under this Lease including all payments subsequently accruing. Failure of Lessee to deposit the security required by this Article 16 within ten (10) days after Lessor’s written demand shall constitute a material breach of this Lease by Lessee.
TIME BEING OF THE ESSENCE. The failure of Borrower to cause or perform any action to be caused or performed by Borrower under the Loan Security Documents in a timely manner; or Borrower's failure to present to Lender satisfactory evidence of Borrower's otherwise timely action.
TIME BEING OF THE ESSENCE. In consideration thereof, Borrower shall pay Administrative Agent (for the benefit of Lender) the Extension Fee on or prior to the first day of the Extended Term, which Extension Fee shall be earned by Xxxxxx as of the date of the Extension Notice; provided, however, if Borrower does not satisfy the Extension Conditions below, no Extension Fee shall be payable, although Borrower shall remain liable for the payment of the costs set forth in Section 2.4(b)(x). In connection with the exercise by Borrower of each Extension Option, Borrower must satisfy each of the following conditions (the “Extension Conditions”):
TIME BEING OF THE ESSENCE. (c) If Tenant does not timely deliver an acceptance notice or, prior to the last day on which an effective acceptance notice may be delivered, waives its right in writing (or is deemed to waive its right) to purchase the Premises, then Landlord shall, subject to the terms and conditions of Section 27.02(d) below, be free to sell the Premises to the Potential Purchaser at a price no less than ninety percent (90%) of the price set forth in the Offer Notice or on terms which, taken as a whole, are not materially more favorable to the Potential Purchaser than the terms stated in the Offer Notice. 58
TIME BEING OF THE ESSENCE. 11. The covenants, agreements, terms, provisions and conditions contained in this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
TIME BEING OF THE ESSENCE. The deposit shall constitute liquidated damages in the event Tenant, after exercising this option shall default and fail to close title. The parties agree that Landlord's actual damages may not be ascertainable and for that xxxxxx have agreed to this liquidated damage provision. The purchase price shall be Nine Million Three Hundred Forty-Three Thousand Seven Hundred Fifty ($9,343,750.00) Dollars. The purchase price shall be payable in full in lawful money of the United States of America by Tenant at the closing. Landlord shall deliver a Bargain anx Xxxx Deed with Covenants against Grantor's Acts, executed and acknowledged in recordable form, conveying the Land and Building. Title shall be conveyed free and clear of all liens, encumbrances, covenants, restrictions, easements and other matters of record, except all tenancies which may then be in existence and all matters of record at the time this Lease is executed (it being the intention of the parties that Landlord shall convey to Tenant title which is consistent with the title which exists at this time), current real property taxes and current assessments not yet due and payable, and anything whether of record or not of record which is in any way affects title resulting from the acts or omissions of Tenant. Landlord's title insurance policy is attached to and made part ox xxxx Xease as Exhibit "B". Tenant shall accept title subject to all matters set forth in Exhibit "B". All rent, utilities, real property taxes, insurance premiums and all other customary items for like properties shall be adjusted as of the date of the closing. Landlord shall pay the Realty Transfer Fee. Tenant shall pay all recording costs. Tenant shall not assign its interest, or any portion of its interest, in the option granted by this paragraph, except to an entity controlled by the Tenant or by its present majority shareholder, and then, only after the option is exercised and Tenant remains liable. If Tenant does not properly and timely exercise the option strictly in accordance with this Paragraph on or before November 30, 2003, Time Being of the Essence, then this option shall automatically expire. Subject to the provisions of the following subparagraphs, closing of title shall take place not later than the first day of the seventh (7th) month following Landlord's receipt of the option notice. After the first day of thx xxxxxxh month either Landlord or Tenant may declare Time to Be of the Essence for the closing of title by deli...
TIME BEING OF THE ESSENCE. TIME SHALL BE OF THE ESSENCE with regard to each date by which performance is required by Subtenant under the Prime Lease or this Sublease.
TIME BEING OF THE ESSENCE. (“Time of the Essence” date) at the offices of Xxxxxx X. Xxxxx, Esq. located at 000 Xxxxxxxx, XXX 00X, Xxxxxxxxxx XX 00000.
