Partial Termination Notice definition

Partial Termination Notice is defined in Section 15.1 of the Master Lease.

Partial Termination Notice has the meaning set forth in Section 7.2(b).

Partial Termination Notice and thereupon this Agreement shall terminate as to the Excluded Property, the parties shall thereupon be relieved of all further liability hereunder with respect to the Excluded Property, the Excluded Property shall be removed from the Lease and any other documents to be delivered at Closing (with the applicable rent and other provisions appropriately modified by reason of such removal), and the Purchase Price under this Agreement shall be adjusted as provided in the following sentence. Upon the exercise of a Partial Termination Event, the Purchase Price shall be reduced by the amount allocated to that Facility as set forth in Exhibit C. Notwithstanding the foregoing and unless otherwise agreed by Buyer and the Seller Parties, upon a Condemnation Termination Event or Casualty Termination Event, only the Partial Termination Right shall be applicable, and if the Termination Event is based on the material adverse change in the business, operations or financial condition of the Buyer or Seller Parties (other than of a particular Facility), then the Partial Termination Right shall not be applicable. If Buyer exercises any Partial Termination Right or other right so as to exclude more than two (2) Facilities or to terminate this Agreement as to more than two (2) Facilities, in the aggregate (i.e., so that there remain fewer than ten (10) Facilities in the Property to be conveyed at Closing), Seller Parties shall also have an Agreement Termination Right to terminate this Agreement prior to Closing by delivering notice thereof to Buyer within five (5) days after the conditions to this right occur, and if this Agreement Termination Right is not exercised by Seller Parties, and Buyer exercises any additional Partial Termination Right or other right so as to exclude another Facility or to terminate this Agreement as to more than three (3) Facilities, in the aggregate (i.e., so that there remain fewer than nine (9) Facilities in the Property to be conveyed at Closing), Seller Parties shall have an additional Agreement Termination Right to terminate this Agreement prior to Closing by deliverying notice thereof to Buyer within five (5) days after the conditions to this right occur. Upon exercise of any such Agreement Termination Right by Seller Parties, this Agreement shall automatically teminate upon notice of such exercise given to Buyer, whereupon all parties shall thereupon be relieved of all further liability hereunder, except as otherwise expressly provided under ...

Examples of Partial Termination Notice in a sentence

• Seller shall notify Purchaser and Escrow Agent in writing of its exercise of Seller's Termination Option ("Seller's Termination Notice") within five (5) business days following Seller's receipt of any written notification from Purchaser that Purchaser's has elected to terminate this Agreement as to one or more but not all of the Properties ("Purchaser's Partial Termination Notice").

• It is acknowledged that the option of the Lessee to give a Partial Termination Notice pursuant to subsection (a)(i)(B) above is a right granted to Lessee that is separate from the obligation of Lessee to purchase a Parcel at the option of Lessor if the Environmental Event in question ripens into an Event of Default, as provided in Section 14(a)(v).

• In no event shall Lessee have the right to give a Partial Termination Notice with respect to any Parcel(s) pursuant to subsection (a)(i)(A) above prior to the first anniversary of the date the Parcel in question was added to the Property or while any Event of Default shall have occurred and be continuing.

• Service Provider shall discontinue the Terminated Services as of the effective date specified in the Partial Termination Notice (the “Termination Effective Date”).

• In the event that Party B fails to deliver a Partial Termination Notice with respect to a termination under paragraph (i) above, then Party A may deliver such Partial Termination Notice to Party B.

More Definitions of Partial Termination Notice

Partial Termination Notice means a notice from the Authority to the ODP terminating

Partial Termination Notice has the meaning given to it in Clause 22.2.

Partial Termination Notice has the meaning set forth in Section 3.02(a) hereof.

Partial Termination Notice means a notice issued by TTL pursuant to Clause 62.4 or Clause 62.11 (Termination);

Partial Termination Notice means a written notice of Partial Termination given by one Party to the other, notifying the Party receiving the notice of the intention of the Party giving the notice to Partially Terminate this Agreement on a specified date and setting out the grounds for the Partial Termination;

Partial Termination Notice has the meaning set forth in Section 2.2 of the Lease. Patron means (a) any user of LGA Airport, including (i) passengers of planing and deplaning Aircraft and (ii) employees of any of the Sublessees and Scheduled Aircraft Operators who have arrangements with Airline Sublessees and (b) any other user of or service provider to LGA Airport.

Partial Termination Notice means a notice issued by TfL pursuant to clause 72.9 or clause 72.10 (Termination);