Master Lease Termination definition

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Master Lease Termination means any event that, by voluntary or involuntary act or by operation of law, might cause or permit the Master Lease (or Tenant's right to possess the Premises under the Master Lease) to be terminated, expire, be canceled, be foreclosed against, or otherwise come to an end, including but not limited to (1) a default by Tenant under the Master Lease or any of the terms and provisions - 91 - hereof; (2) foreclosure proceedings brought by the holder of any mortgage or deed of trust to which the Master Lease is subject; (3) the termination of Tenant's leasehold estate by dispossession proceeding or otherwise; or (4) the expiration or termination of the Master Lease in accordance with its terms.

Master Lease Termination means any event that, by voluntary or involuntary act or by operation of law, might cause or permit the Master Lease (or Tenant’s right to possess the Premises under the Master Lease) to be terminated, expire, be canceled, be foreclosed against, or otherwise come to an end, including but not limited to (1) a default by Tenant under the Master Lease or any of the terms and provisions hereof, in each case beyond any applicable notice and cure period; (2) foreclosure proceedings brought by the holder of any mortgage or deed of trust to which the Master Lease is subject, unless otherwise expressly agreed to by Tenant and any such holder pursuant to any non-disturbance and/or recognition agreement or otherwise; (3) the termination of Tenant’s leasehold estate by dispossession proceeding or otherwise; or (4) the expiration or termination of the Master Lease in accordance with its terms.

Examples of Master Lease Termination in a sentence

The Lessor may not validly serve a Master Lease Termination Notice unless such decision to serve the Master Lease Termination Notice has been approved by any independent director (as the term may be defined in the relevant constitutional documents of the Lessor) on the board of directors of the Lessor.
The Lessor may not validly serve a Master Lease Termination Notice unless such decision to serve the Master Lease Termination Notice has been approved by the independent chairman (président) of the Lessor.
The Lessor may not validly serve a Master Lease Termination Notice unless such decision to serve the Master Lease Termination Notice has been approved by any independent director (as defined in the relevant constitutional documents of the Lessor) on the board of directors of the Lessor.
Sublandlord hereby agrees that in the event of Master Lease Termination, Sublandlord shall immediately pay or transfer to Master Landlord any security deposit, Rent or other sums then held by Sublandlord.
Tenant hereby agrees that in the event of Master Lease Termination, Tenant shall immediately pay or transfer to Landlord any security deposit, rent or other sums then held by Tenant.
Landlord shall have the right, in Landlord’s sole discretion, to elect not to have Subtenant attorn to Landlord and, in this event, the Sublease shall be deemed terminated on the date of Master Lease Termination and, Landlord shall have no obligation to permit Subtenant to continue to occupy the Premises.
Notwithstanding the provisions of this Section 11.1 to the contrary, if any Event of Default as Subsection 10.1(g) shall occur as to Borrower, Master Lessee (if the Master Lease Termination has not yet occurred) or any SPE Component Entity, the entire unpaid Debt shall be automatically due and payable, without any further notice, demand or other action by Lender.
Seller and Purchaser acknowledge and agree that the Master Leases shall be terminated at Closing (as defined below) pursuant to the Master Lease Termination Agreement set forth as Exhibit “I” hereto.
Collectively, this Agreement, the Deeds, the Bills of Sale, the Summerville Master Lease Amendment, each Master Lease Termination, each Related Purchase Agreement, each New Emeritus Guaranty and all other agreements, documents and/or instruments to be executed and/or delivered pursuant to and in connection with this Agreement, the Related Purchase Agreements and/or the Exhibits hereto or thereto.
Any Master Lease Termination and Lease would need to be mutually agreed upon between the Master Landlord, the Sublandlord and the Subtenant, and would not result in Subtenant’s loss of use of the Subleased Premises for the term set forth herein.

More Definitions of Master Lease Termination

Master Lease Termination means any event, which by voluntary or involuntary act or by operation of law, might cause or permit the Master Lease to be terminated, expired, be cancelled, be foreclosed against, or otherwise come to an end, including but not limited to (1) a default by Tenant under the Master Lease of any of the terms or provisions thereof; or (2) the termination of Tenant’s leasehold estate by dispossession proceeding, such as bankruptcy or otherwise, or (3) an agreement (oral or written) between Landlord and Tenant to terminate the Master Lease without Sublessee’s consent.

Master Lease Termination means any event, which by voluntary or involuntary act or by operation of law, might cause or permit the Master Lease to be terminated, expired, canceled, foreclosed against, or otherwise come to an end, including but not limited to (1) a default by Tenant under the Master Lease of any of the terms or provisions thereof; (2) foreclosure proceedings brought by the holder of any mortgage or trust deed to which the Master Lease is subject; (3) the rejection of the Master Lease in bankruptcy by Tenant; or (4) the termination of Tenant’s leasehold estate by dispossession proceeding or otherwise. Prior to the Master Lease Termination for any reason, the acceptance of any payment on account of Rent from Subtenant shall in no manner whatsoever be deemed an attornment by Subtenant to Landlord, or a recognition of the Subtenant by Landlord for charges incurred by or imposed upon Subtenant for services rendered and materials supplied to the Subleased Premises.

Master Lease Termination has the meaning set forth in the Recitals.

Master Lease Termination means a termination or cancellation of the Master Lease under any of the following circumstances: (i) termination by Master Landlord following an Event of Default by Tenant under the Master Lease; (ii) termination resulting from or in connection with foreclosure proceedings brought by the holder of any mortgage or trust deed to which the Master Lease or the real property covered by the Master Lease is subject; (iii) rejection of the Master Lease in a bankruptcy, insolvency or similar proceeding; (iv) termination of Tenant’s leasehold estate by an unlawful detainer proceeding, dispossession proceeding or other similar proceeding initiated by Master Landlord or any other party entitled to seek such relief under applicable law; or (v) any voluntary termination of the Master Lease by mutual agreement of Master Landlord and Tenant. Master Lease Termination shall not include (x) a termination by Master Landlord or Tenant pursuant to casualty or condemnation provisions set forth in the Master Lease or (y) an assignment or transfer of Tenant’s interest under the Master Lease to a third party not affiliated with Master Landlord in or pursuant to a bankruptcy, insolvency or similar proceeding, with or without termination or rejection of the Sublease.