Common use of End of Term Indemnity Clause in Contracts

End of Term Indemnity. (a) If the Lessee elects the Remarketing Option and there would, after giving effect, to the proposed remarketing transactions, be a Shortfall Amount, then prior to the Expiration Date and as a condition to the Lessee's right to complete the remarketing of the Property pursuant to Section 24.1, the Lessee shall cause to be delivered to the Lessor at least thirty (30) days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from an appraiser selected by the Lessor and reasonably satisfactory to the Lessee in form and substance satisfactory to the Lessor (the "End of the Term Report") which shall state the appraiser's conclusions as to the reason for any decline in the Fair Market Sales Value of the Property from that anticipated for such date in the Appraisal delivered on the Acquisition Date.

Appears in 5 contracts

Samples: Lease (Brookdale Living Communities Inc), Lease (Brookdale Living Communities Inc), Lease (Brookdale Living Communities Inc)

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End of Term Indemnity. (a) If the Lessee elects the Remarketing Option and there would, after giving effect, to the proposed remarketing transactions, be a Shortfall Amount, then prior to the Expiration Date and as a condition to the Lessee's right to complete the remarketing of the Property pursuant to Section 24.1, the Lessee shall cause to be delivered to the Lessor at least ------------ thirty (30) days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from an appraiser selected by the Lessor and reasonably satisfactory to the Lessee in form and substance satisfactory to the Lessor (the "End of the Term Report") which shall state the appraiser's ---------------------- conclusions as to the reason for any decline in the Fair Market Sales Value of the Property from that anticipated for such date in the Appraisal delivered on the Acquisition Date.

Appears in 3 contracts

Samples: Brookdale Living Communities Inc, Brookdale Living Communities Inc, Brookdale Living Communities Inc

End of Term Indemnity. (a) If the Lessee elects the Remarketing Option and there would, after giving effect, to the proposed remarketing transactions, be a Shortfall Amount, then prior to the Expiration Date and as a condition to the Lessee's right to complete the remarketing of the Property pursuant to Section 24.1, the Lessee shall cause to be delivered to the Lessor at least thirty (30) 60 days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from an appraiser selected by the Lessor and reasonably satisfactory to the Lessee in form and substance satisfactory to the Lessor (the "End of the Term Report") which shall state the appraiser's conclusions as to the reason for any decline in the Fair Market Sales Value of the Property from that anticipated for such date in the Appraisal delivered on the Acquisition Closing Date.

Appears in 1 contract

Samples: Lease and Security Agreement (Alternative Living Services Inc)

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End of Term Indemnity. (a) If the Lessee elects Lessees elect the Remarketing Option and there would, after giving effect, effect to the proposed remarketing transactions, be a Shortfall Amount, then prior to the Expiration Date and as a condition to the Lessee's Lessees' right to complete the remarketing of the Property Properties pursuant to Section 24.120.1 of the Lease, the Lessee Lessees shall cause to be delivered to the Lessor at least thirty one hundred twenty (30120) days prior to the Expiration Date, at the Lessee's Lessees' sole cost and expense, a report from an appraiser selected by the Lessor and reasonably satisfactory to Person that delivered the Lessee Appraisal in form and substance satisfactory to the Lessor Participants (the "End of the Term Report") which shall state the appraiser's conclusions as to the reason for any decline in the Fair Market Sales Value of any of the Property from that anticipated for such date in the Appraisal delivered on the applicable Acquisition Date.

Appears in 1 contract

Samples: Participation Agreement (Multicare Companies Inc)

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