Terminated Property definition
Examples of Terminated Property in a sentence
In such event, but subject to the terms of Section 2.3.3 hereof, Escrow Agent shall release to Purchaser the Allocated Deposit Amount for each Terminated Property, and the Deposit shall be deemed to be reduced by the amount of the Allocated Deposit Amount for each Terminated Property.
Operations on the Terminated Property for which the Participant has not paid the Mitigation Fee at the time of property removal or CI termination may proceed as if the CI did not exist, but are not covered by the Permit and thus no longer receive take authorization or assurances under the Permit.
After such Terminated Property has been relet by Lessor, Lessee shall pay to Lessor on the tenth (10th) day of each calendar month the difference between the monthly rentals and other charges provided in this Lease related to such Terminated Property for the preceding calendar month (had this Lease not been terminated) and those actually collected by Lessor with respect to such reletting for that month.
Terminated Property – Property removed from enrollment in the CCAA pursuant to an amendment of the CI or termination of the CI.
Notwithstanding the foregoing, subject to the provisions of Sections 6.2 and 6.5 below, the Title Policy must provide express coverage insuring that the Property is not subject to either (i) the Master Declaration (unless termination of the Master Declaration with respect to the Terminated Property is waived by Purchaser), or (ii) any Unit Purchase Agreement.
In the event of any such sale and receipt by the Lessor of all of the amounts provided in Section 19.1(a) in respect of a Terminated Property that is a Leased Property and upon compliance by the Lessee with the other provisions of this Section 19.1, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Property shall cease and the Lease Term for the Terminated Property shall end.
Tenant agrees that it shall remain liable for each and every obligation (including, without limitation the obligation to pay Base Rent and Property Charges which respect to all of such Demised Premises) under this Master Lease with respect to each such Demised Premises (“50% Go Dark Property”), other than pursuant to this Section 7.3 from and after the 50% Go Dark Notice, subject to all of Tenant’s termination rights with respect to a Terminated Property.
In addition, if Seller converts an Expiring R▇▇ Agreement covering a Terminated Property into an Extended R▇▇ Agreement within such 270-day period, Purchaser will be obligated to purchase the Acquired Assets associated with such Extended R▇▇ Agreement at a purchase price equal to the amount Purchaser would have paid for such property had such property not been a Terminated Property and had such extension been in effect at the date of the Final Subsequent Closing.
Except as set forth in this Agreement, neither Lessor nor Lessee shall have any further obligations to the other pursuant to the Lease with respect to the Terminated Property subsequent to the Effective Date.
Subject to all of the terms and conditions of this Agreement, the respective obligations of Lessor and Lessee under the Lease with respect to the Terminated Property shall terminate upon the Effective Date.