Government Mandate definition

Government Mandate. With respect to (a) any Person, any statute, law, rule, regulation, code, or ordinance duly adopted by any Government Authority, any treaty or compact between two (2) or more Government Authorities, and any judgment, order, decree, ruling, finding, determination, or injunction of any Government Authority, in each such case that is, pursuant to appropriate jurisdiction, legally binding on such Person, any of its Subsidiaries or any of their respective properties, and (b) the Administrative Agent or any Bank, in addition to subsection (a) hereof, any policy, guideline, directive, or standard duly adopted by any Government Authority with respect to the regulation of banks, monetary policy, lending, investments, or other financial matters.

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Government Mandate means (i) the declaration of a state of emergency by the governor of a U.S. state or the President of the United States or a state or federal governmental authority, as applicable or (ii) the enactment of laws, regulations, executive orders or other guidance by any governmental authority (including federal, state or local governments), that permits the granting of a payment deferment or prevents collection activities.

Government Mandate means any statute, law, rule, regulation, code, or ordinance duly adopted by any Government Authority, any treaty or compact between two or more Government Authorities, any judgment, order, decree, ruling, finding, determination, or injunction of any Government Authority, and any policy or procedure having the force of law of any Government Authority.

Examples of Government Mandate in a sentence

• No change shall have occurred in any Government Mandate that in the reasonable opinion of any Bank would make it illegal for such Bank to make such Loan (it being understood that this section shall be a condition only for the Bank or Banks affected by such Government Mandate).

• All payments by the Borrower hereunder and under any of the other Loan Documents shall be made without setoff or counterclaim and free and clear of and without deduction for any taxes, levies, imposts, duties, charges, fees, deductions, withholdings, compulsory loans, restrictions, or conditions of any nature now or hereafter imposed or levied by any Government Authority unless the Borrower is compelled by Government Mandate to make such deduction or withholding.

• The “Rent Commencement Date” shall be the date that is 180 days after the Commencement Date (which is anticipated to be February 1, 2022, based on the Target Commencement Date of August 1, 2021); provided, however, that the Rent Commencement Date shall be delayed 1 day for each day after the Commencement Date that a Government Mandate that restricts construction activities in San Diego county is in effect to the extent that such Government Mandate precludes such construction of the Tenant Improvements.

• All payments by the Borrower hereunder and under any --------- of the other Loan Documents shall be made without setoff or counterclaim and free and clear of and without deduction for any taxes, levies, imposts, duties, charges, fees, deductions, withholdings, compulsory loans, restrictions, or conditions of any nature now or hereafter imposed or levied by any Government Authority unless the Borrower is compelled by Government Mandate to make such deduction or withholding.

• Each Extension Period shall be extended on a day for day basis for each day that a Government Mandate (as defined in the New Lease) delays the commencement of the term of the New Lease.

• No change shall have occurred in any Government Mandate that in the reasonable opinion of the Lender would make it illegal for the Lender to make such Loan.

• Tenant understands and agrees that any portion of the Landlord Contribution not requested by Tenant in accordance with this Exhibit X by January 1, 2022, shall inure to the benefit of Landlord and Tenant shall not be entitled to any credit or payment; provided that such date shall be extended on a day for day basis for each day of delay caused by a Government Mandate.

• No change shall have occurred in any Government Mandate that in the reasonable opinion of any Bank would make it illegal for such Bank to make such Loan (it being understood that this Section 10.5 shall be a condition only for the Bank or Banks affected by such Government Mandate).

• For so long as any Default or Event of Default has occurred and is continuing, (i) the unpaid principal amount of each Loan shall bear interest (after as well as before judgment) at the interest rate that would otherwise be applicable to such Loan plus 2.0% and (ii) (to the extent permitted by applicable Government Mandate) all interest, fees and other amounts payable hereunder shall bear interest (after as well as before judgment) at the interest rate otherwise in effect plus 2.0%.

• The Trust shall be entitled to treat the holder of record of any Interest as the holder in fact thereof and shall not be bound to recognize any equitable or other claim or interest in such Interest on the part of any other Person, except as may be otherwise required by Government Mandate.

More Definitions of Government Mandate

Government Mandate. With respect to (a) any Person, any statute, law, rule, regulation, code, or ordinance duly adopted by any Government Authority, any treaty or compact between two (2) or more Government Authorities, and any judgment, order, decree, ruling, finding, determination, or injunction of any Government Authority, in each such case that is, pursuant to appropriate jurisdiction, legally binding on such Person, any of its Subsidiaries or any of their respective properties, and (b) the Administrative Agent or any Bank, in addition to subsection (a) hereof, any policy, guideline, directive, or standard duly adopted by any Government Authority with respect to the regulation of banks, monetary policy, lending, investments, or other financial matters. Guaranteed Pension Plan. Any employee pension benefit plan within the meaning of ss.3(2) of ERISA maintained or contributed to by the Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a -Multiemployer Plan. Hazardous Substances. As defined in Section 5.17(b).

Government Mandate means the declaration or implementation by any Governmental Authority having jurisdiction over the Project, resulting from the COVID-19 outbreak in the United States, of any order or mandate that restricts construction activities in San Mateo County to the extent such Government Mandate precludes the construction of the Tenant Improvements. Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. For the period of 180 consecutive days after the Rent Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. Landlord represents and warrants that the person signing this Lease on behalf of Landlord is duly authorized to execute and deliver this Lease on behalf of Landlord as a legally binding contract of Landlord. Tenant represents and warrants that the person signing this Lease on behalf of Tenant is duly authorized to execute and deliver this Lease on behalf of Tenant as a legally binding contract of Tenant. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, ac...

Government Mandate. Any statute, law, rule, regulation, code, or ------------------ ordinance duly adopted by any Government Authority, any treaty or compact between two (2) or more Government Authorities, and any judgment, order, decree, ruling, finding, determination, or injunction of any Government Authority.