Lease Termination Event definition

Lease Termination Event means an event wherein all tenants named in a Restricted Lease cease to occupy the lot or the home located upon the lot (including due to the death of the last of such named tenants or due to the termination of all such tenants’ tenancy), or wherein such tenants assign their rights, as tenants under a Restricted Lease, to another party.

Lease Termination Event means, in respect of an Aircraft, any of the following events and circumstances:

Lease Termination Event means the occurrence of either of the following as a result of Tenant’s default under the Lease: (i) the termination of the Lease in its entirety; or (ii) the acquisition of possession by Buyer of the entire premises covered by the Lease pursuant to an order of restitution issued pursuant to applicable Utah law by a court of competent jurisdiction.

Examples of Lease Termination Event in a sentence

• Accordingly, the occurrence of such a Lease Termination Event shall be a serious breach of this condition and shall constitute a serious breach of this Finance Lease by the Lessee.

• The exercise by the Lessor of any of its powers pursuant to clause 16.1 (Power to Remedy) shall be without prejudice of the right of the Lessor to treat the Lessee's non-compliance as a Lease Termination Event.

• Each of the events or circumstances set out in this clause 17 (Lease Termination Events) is a Lease Termination Event (save for clause 17.14 (Acceleration)).

• No Lease Termination Event (or any event or circumstance that, with the lapse of time, giving of notice or otherwise, would be a Lease Termination Event) has occurred or is continuing.

• The Lease Termination Events specified in clause 17.1 (Non-Payment) to clause 17.4 (Misrepresentation) are fundamental terms and conditions of this Finance Lease and the occurrence of any such Lease Termination Event shall go to the root of this Finance Lease.

More Definitions of Lease Termination Event

Lease Termination Event means any time that the LC Lease is terminated, expires or is otherwise not in force and effect (other than a No Rebuilding Termination), as such is interpreted in the Partnership Agreement.

Lease Termination Event means any event or circumstance specified as such in clause 17 (Lease Termination Events);

Lease Termination Event means receipt by Buyer after the Closing of notice from a lessor under a Site Lease (a) seeking to terminate a Site Lease, (b) claiming that such lessor is the owner of the Structure(s) covered by such Site Leases, and (c) where the use of such location for outdoor advertising purposes is a non-conforming use under applicable Legal Requirements. Upon the occurrence of a Lease Termination Event, Buyer shall provide notice thereof to Seller, with a copy to the Escrow Agent. For a period of two hundred seventh (270) days after the occurrence of a Lease Termination Event, Buyer shall use its Best Efforts to challenge such Lease Termination Event in order to seek a determination (by consensual agreement or judicial determination) that Buyer is the owner of the subject Structure(s) (a "Determination"). If Buyer has not obtained a Determination within two hundred seventy (270) days after the occurrence of the Lease Termination Event, Seller shall be entitled to seek to obtain a Determination, provided that such Determination shall be reasonably acceptable to Buyer as evidenced by Buyer's written consent thereto. If, however, Seller has not so obtained a Determination within one hundred eighty (180) days after the expiration of the initial two hundred seventy (270) day period, then, in that event, Buyer may thereafter furnish to the Escrow Agent a duly executed and notarized affidavit stating that (i) a Lease Termination Event has occurred, (ii) a Determination has not been obtained as required by this Section 15.2(a), and (iii) the Escrow Agent shall pay to Buyer from the Lease Escrow Fund the amount specified in Section 15.2(b) below.

Lease Termination Event as defined in Section 15.2.

Lease Termination Event has the meaning set forth in Section 6.10(a).

Lease Termination Event for an Aircraft, means the occurrence of a Lease Event of Default for such Aircraft or any other event or circumstance (other than an Event of Loss) resulting in the termination of the leasing of such Aircraft under the relevant Lease Agreement.

Lease Termination Event has the meaning ascribed to it in Section 8.2(m).