Forbearance of Termination Sample Clauses

Forbearance of Termination. If District elects to terminate this Lease by reason of an Event of Default, any Permitted Mortgagee may request District to forbear from terminating this Lease and District shall so forbear if and for so long as (i) within one hundred eighty (180) days after receiving District’s notice of termination, the Permitted Mortgagee has acquired the Leasehold Estate, (ii) the Permitted Mortgagee shall perform all of the obligations of Tenant under this Lease as and when due, to the extent reasonably susceptible of being performed by the Permitted Mortgagee, (iii) the Permitted Mortgagee shall pay or cause to be paid all Rent and other monetary amounts as may be due and payable under this Lease, and (iv) the Permitted Mortgagee shall cure any other then-existing ongoing Event of Default reasonably capable of being cured by the Permitted Mortgagee. For purposes of this Article 14, whether a default is reasonably capable of being cured by a Permitted Mortgagee shall be determined without regard to the financial or other resources of such Permitted Mortgagee or the expertise of such Permitted Mortgagee.
Sample 1
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Forbearance of Termination. If District elects to terminate this Lease by reason of an Event of Default, a Permitted Mortgagee may request District to forbear from terminating this Lease and District shall so forbear for a period of thirty (30) days with respect to any default that is capable of being cured with the payment of money and for ninety (90) days for all other defaults, if (i) within such forbearance period, the Permitted Mortgagee has acquired, or has promptly and diligently taken steps to acquire, the Leasehold Estate, (ii) the Permitted Mortgagee shall perform all of the obligations of Tenant under this Lease as and when due, (iii) the Permitted Mortgagee shall pay or cause to be paid all Rent and other monetary amounts as may be due and payable under this Lease, and (iv) the Permitted Mortgagee shall cure any other then- existing ongoing Event of Default.
Sample 1

Related to Forbearance of Termination

  • Consequence of Termination Upon termination of this Agreement for any reason:

  • Notice of Termination; Effect of Termination Any termination of this Agreement under Section 7.1 above will be effective immediately upon the delivery of written notice of the terminating party to the other parties hereto. In the event of the termination of this Agreement as provided in Section 7.1, this Agreement shall be of no further force or effect, except (i) as set forth in this Section 7.2, Section 7.3 and Article 8 (miscellaneous), each of which shall survive the termination of this Agreement, and (ii) nothing herein shall relieve any party from liability for any willful breach of this Agreement. No termination of this Agreement shall affect the obligations of the parties contained in the Confidentiality Agreement, all of which obligations shall survive termination of this Agreement in accordance with their terms.

  • Right of Termination This Agreement may be terminated at any time at or prior to the Closing:

  • Extension of Termination Date (a) No later than one year prior to the Termination Date then in effect, provided that no Event of Default shall have occurred and be continuing, the Borrowers may request an extension of such Termination Date by submitting to the Administrative Agent an Extension Request containing the information in respect of such extension specified in Exhibit I, which the Administrative Agent shall promptly furnish to each Bank. If, within 30 days of their receipt of an Extension Request, the Majority Banks shall approve in writing the extension of the Termination Date requested in such Extension Request, the Termination Date shall automatically and without any further action by any Person be extended for the period specified in such Extension Request; provided that (i) each extension pursuant to this subsection 2.16 shall be for a maximum of one year and (ii) the Commitment of any Bank which does not consent in writing to such extension within 30 days of its receipt of such Extension Request (an “Objecting Bank”) shall, unless earlier terminated in accordance with this Agreement, expire on the Termination Date in effect on the date of such Extension Request (such Termination Date, if any, referred to as the “Commitment Expiration Date” with respect to such Objecting Bank). If, within 30 days of their receipt of an Extension Request, the Majority Banks shall not approve in writing the extension of the Termination Date requested in an Extension Request, the Termination Date shall not be extended pursuant to such Extension Request. The Administrative Agent shall promptly notify (y) the Banks and the Borrowers of any extension of the Termination Date pursuant to this subsection 2.16 and (z) the Borrowers and any other Bank of any Bank which becomes an Objecting Bank. No Bank has an obligation to extend its Commitment pursuant to this Section 2.16 except in its sole discretion.

  • Duties in the Event of Termination In the event that, in connection with termination, a successor to any of USBFS’s duties or responsibilities hereunder is designated by the Trust by written notice to USBFS, USBFS will promptly, upon such termination and at the expense of the Trust, transfer to such successor all relevant books, records, correspondence, and other data established or maintained by USBFS under this Agreement in a form reasonably acceptable to the Trust (if such form differs from the form in which USBFS has maintained the same, the Trust shall pay any expenses associated with transferring the data to such form), and will cooperate in the transfer of such duties and responsibilities, including provision for assistance from USBFS’s personnel in the establishment of books, records, and other data by such successor. If no such successor is designated, then such books, records and other data shall be returned to the Trust.

  • Survival of Termination The provisions of Sections 1.7, 1.8, 3.1, 3.2, 5.4, 5.5, 5.6, 5.7, 5.10 and 5.13 shall survive any termination of this Agreement.

  • In the Event of Termination After receipt of a notice of termination, except as otherwise directed, the AGENCY shall:

  • Notification of Termination 22.3.2.1 Upon the occurrence at District's sole determination of any of the above conditions, or upon Developer’s failure to perform any material covenant, condition or agreement in this Facilities Lease, District may, without prejudice to any other right or remedy, serve written notice upon Developer and its Surety of District's termination of this Facilities Lease and/or Developer’s right to perform the Work of this Facilities Lease. This notice will contain the reasons for termination.

  • Termination Effect of Termination 29 7.1 Termination................................................................. 29 7.2

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

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