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 20.1 of the Lease, the Lessee shall cause to be delivered to the Lessor at least 120 days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from the Appraiser in form and substance satisfactory to the 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 subject to the Lease from that anticipated for such date in the Appraisal delivered on the Initial Advance Date.

Appears in 1 contract

Samples: Participation Agreement (Fore Systems Inc /De/)

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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 ’s right to complete the remarketing of the Property pursuant to Section 20.1 of the Lease, the Lessee shall cause to be delivered to the Lessor at least 120 thirty (30) days prior to the Expiration Date, at the Lessee's ’s sole cost and expense, a report from the Appraiser in form and substance satisfactory to the Participants Lessor (the "End of the Term Report") which shall state the appraiser's Appraiser’s conclusions as to the reason for any decline in the Fair Market Sales Value of any of the Property subject to from the Lease from that anticipated for such date in the Appraisal delivered on the Initial Advance DateProperty Cost.

Appears in 1 contract

Samples: Participation Agreement (Adobe Systems 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 Maturity Date and as a condition to the Lessee's right to complete the remarketing of the Property Properties pursuant to Section 20.1 of the Master Lease, the Lessee shall cause to be delivered to the Lessor at least 120 days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from the Appraiser in form and substance satisfactory to the 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 subject to the Lease from that anticipated for such date in the Property Appraisal delivered on or prior to the Initial Advance applicable Completion Date.

Appears in 1 contract

Samples: Participation Agreement (Lam Research Corp)

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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 20.1 of the Lease, the Lessee shall cause to be delivered to the Lessor at least 120 thirty (30) days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from the Appraiser in form and substance satisfactory to the Participants Lessor (the "End of the Term Report") which shall state the appraiserAppraiser's conclusions as to the reason for any decline in the Fair Market Sales Value of any of the Property subject to the Lease from that anticipated for such date set forth in the Appraisal delivered on the Initial Advance Closing Date.

Appears in 1 contract

Samples: Participation Agreement (Adobe Systems Inc)

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