Examples of Delay Event Remedy in a sentence
The initial term of the Lease expires on the 50th anniversary of the Commencement Date (or such later date as required pursuant to the terms of the Agreement to effect a Delay Event Remedy (as defined in the Agreement) or to provide AA-Compensation (as defined in the Agreement) through an extension of the term of the Lease), unless sooner terminated in accordance with the provisions of the Agreement or in the event that the Tenant’s existence is not extended as provided in Section 3.6 of the Lease.
The “ Present Value of the Residual Asset Value” shall be the Residual Asset Value discounted from the time of its payment pursuant to Section 16.5 of the Concession Agreement (assuming no extension for a Delay Event Remedy) to the Bid Deadline using a 5% discount rate.
The initial term of the Lease expires on the __________ anniversary of the Commencement Date (or such later date as required pursuant to the terms of the Agreement to effect a Delay Event Remedy (as defined in the Agreement) or to provide AA-Compensation (as defined in the Agreement) through an extension of the term of the Lease), unless sooner terminated in accordance with the provisions of the Agreement.