Common use of DROP DATE Clause in Contracts

DROP DATE. Notwithstanding the present effectiveness of this Lease or any other provision in this Lease to the contrary, the Lease shall automatically terminate on December 31, 2015 (the "Drop Date") without further action from either Party if the Conditions Precedent (defined below) set forth in Section 1(c) below have not been satisfied by the Company or waived by the City on or before the Drop Date in the manner provided below. Following such termination, the parties hereto shall have no further rights or obligations to one another except for the provisions of this Lease that by their respective terms survive termination or expiration of the Lease. The Company acknowledges and agrees that it shall not request, and the City is under no obligation to consider, any extension of the Drop Date.

DROP DATE. Notwithstanding the present effectiveness of this Lease Agreement or any other provision in this Lease Agreement to the contrary, the Lease this Agreement shall automatically terminate on December 31, 2015 (the "“Drop Date") ”), without further action from of either Party party if the Conditions Precedent (defined below) set forth in Section 1(c) below of the Lease, have not been satisfied by the Company or waived by the City on or before the Drop Date in the manner provided belowin the Lease. Following such termination, the parties hereto shall have no further rights or obligations to one another except for the provisions of this Lease Agreement that by their respective terms survive termination or expiration of the LeaseLease or this Agreement. The Company acknowledges and agrees that it shall not request, and the City is under no obligation to consider, any extension of the Drop Date.