Acceleration Election definition
Examples of Acceleration Election in a sentence
Notwithstanding the foregoing, as long as the Abatement Condition is satisfied, if Tenant fails to deliver notice to Landlord exercising the Tenant Base Rent Abatement Acceleration Election for a particular month of the Lease Term, then Tenant shall be deemed to have elected to exercise the Tenant Base Rent Abatement Acceleration Election for such month without the requirement of providing notice to Landlord.
If the Company determines that no amount is payable with respect to the CVRs to the holders thereof on the Maturity Date, the Change of Control Date (if an Acceleration Election shall have been made by the Investor with respect thereto) or the Default Payment Date (as defined in Section 3.01), as the case may be, the Company shall give written notice of such determination to the Investor.
In the event the Participant does not make an Acceleration Election, such Gross-Up Payment(s) shall be made concurrent with the payment of any retirement benefit under the Plan which is treated as a Change of Control Payment.
For the avoidance of doubt, if Tenant does not exercise the Building 4 Premises Acceleration Election, then Tenant shall commence paying Base Rent with respect to the Building 4 Premises on the Building 4 Premises Commencement Date and shall not be entitled any abatement of Base Rent with respect to the Building 4 Premises.
Notwithstanding the foregoing, as long as the Abatement Condition is satisfied, if Tenant fails to deliver notice to Landlord exercising the Tenant Second Phase Rent Abatement Acceleration Election for a particular month of the Lease Term, then Tenant shall be deemed to have elected to exercise the Tenant Second Phase Rent Abatement Acceleration Election for such month without the requirement of providing notice to Landlord.
If, however, the Stockholders’ Committee does not make a Qualified Sale Acceleration Election within ten (10) calendar days following its receipt of a Qualified Sale Acceleration Statement, then the obligations of Parent under this Section 3.02 shall continue thereafter in full force and effect in accordance with their terms.
With respect to each twelve-month period beginning with Landlord’s Acceleration Election, the amount of such component of Additional Rent or the costs from which such component is derived (as applicable) shall be assumed to have increased by such amount as Landlord shall reasonably determine, but in any event not less than 2% per year over each immediately prior twelve-month period.
Landlord and Tenant each acknowledge that if Landlord makes Landlord’s Acceleration Election: (i) it would be impossible or impracticable to calculate the actual damages suffered by Landlord as a result of termination of this Lease pursuant to this Article 15.0, “DEFAULT”; and (ii), the amount of the liquidated damages as determined by Landlord pursuant to this paragraph represents fair and reasonable compensation to Landlord with respect to damages incurred by Landlord as a result of such termination.
In the event at any time Tenant files for bankruptcy, the immediately preceding sentence shall, without the need of notice or any other action on the part of Landlord, be deemed inapplicable and without effect and Landlord shall be free to make any such claim under applicable bankruptcy law as Landlord sees fit, in particular, without limitation, the limit on Landlord’s Acceleration Election set forth in the immediately preceding sentence shall not apply.
Notwithstanding the foregoing, as long as the Abatement Condition is satisfied, if Tenant fails to deliver notice to Landlord exercising the Tenant Rent Abatement Acceleration Election for a particular month of the Lease Term, then Tenant shall be deemed to have elected to exercise the Tenant Rent Abatement Acceleration Election for such month without the requirement of providing notice to Landlord.