If No Termination Sample Clauses

If No Termination. If a Casualty occurs and Buyer either does not have or elects not to exercise the right under Section 12.01 to terminate this Agreement, this Agreement shall continue in force and, upon Closing, Buyer shall receive:
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If No Termination. If a Casualty occurs and Buyer does not have the right or does not elect to exercise the right under Section 9.3.1 to terminate this Agreement, this Agreement shall continue in force. In such case and if the Casualty affects a material part of the Hotel, at Closing Seller shall pay over to Buyer the amount of any insurance proceeds, condemnation awards or other amounts in connection with such Casualty (“Proceeds”) which have already been received by Seller, shall assign to Buyer all of Seller’s rights to Proceeds which may then be or thereafter become payable and shall credit Buyer with the amount of any applicable insurance deductible, except that Seller shall retain the right to Proceeds payable under business interruption or rent loss insurance to the extent applicable to periods before the Closing Date, and the Proceeds of property hazard insurance to the extent Seller has incurred costs to repair or replace property damaged as a result of such Casualty). If the Casualty does not affect a material part of the Hotel, at Closing Seller shall give Buyer a credit for the lesser of (A) reasonably estimated cost to repair the Casualty or (B) the deductible under the property hazard insurance covering the Hotel (less in each case the amount expended by Seller to restore the Hotel) and Seller shall retain the right to Proceeds payable in connection with such Casualty.
Sample 1
If No Termination. If a Casualty occurs and neither Party has and elects to exercise the right under Section 9.3.1 to terminate this Agreement or there is a Casualty and it is not deemed to effect a material part of the Hotel Premises, this Agreement shall continue in force and, upon Closing, Buyer shall be entitled to all insurance proceeds, condemnation awards or other amounts which have been paid or may thereafter be payable to or for the account of Seller by any person in connection with such Casualty (“Proceeds”), except that Seller shall retain the right to Proceeds payable under business interruption or rent loss insurance to the extent applicable to periods before the Closing, and the Proceeds of property hazard insurance to the extent Seller has incurred costs to repair or replace property damaged as a result of such Casualty. At Closing, Seller shall, except to the extent entitled to retain Proceeds under the preceding sentence, pay over to Buyer the amount of any Proceeds already received by Seller, shall assign Buyer all of Seller’s rights to Proceeds which may then be or thereafter become payable and shall credit Buyer with the least of (A) the amount of any applicable insurance deductible, (B) the reasonably estimated cost of repairing, restoring or replacing the portion of the Hotel damaged by such Casualty or (C) the amount specified to be a “material part” of the Hotel Premises in Section 9.3.3.
Sample 1
If No Termination. In the event that a Material Casualty or any other damage, destruction or taking of the Property by eminent domain occurs and neither Party has or elects to exercise a permitted right to terminate this Agreement, this Agreement shall continue in force and, upon Closing, Buyer shall be entitled to all insurance proceeds (other than proceeds of rent loss or business interruption insurance which are allocable to periods before Closing), condemnation awards or other amounts which have been paid or may thereafter be payable to Seller by any person in connection with such Casualty ("Proceeds"), and at Closing Seller shall pay over to Buyer the amount of any Proceeds already received by Seller (except to the extent expended by Seller to repair or restore the Property), assign Buyer all of Seller's rights to Proceeds which may then be or thereafter become payable and credit Buyer with an amount equal to the least of (A) the "deductible" under the applicable property hazard insurance policy or (B) the reasonably estimated cost of repairing or restoring the Property.
Sample 1
If No Termination. If a Casualty occurs and neither party terminates this Agreement, this Agreement shall continue in force and, upon Closing, Buyer shall receive:
Sample 1
If No Termination. In the event that a Casualty occurs and Buyer either does not have or does not elect to exercise a right to terminate this Agreement, this Agreement shall continue in force and, upon Closing, Buyer shall be entitled to all insurance proceeds, condemnation awards or other amounts which have been paid or may thereafter be payable to FFLP or Seller by any person in connection with such Casualty ("Proceeds"), and at Closing Seller shall pay over to Buyer the amount of any Proceeds already received by FFLP or Seller and shall assign Buyer all of Seller's or FFLP's rights to Proceeds which may then be or thereafter become payable.
Sample 1
If No Termination. In the event of a Condemnation of less than a material portion of the Premises and Improvements, or a Condemnation of a material portion in which neither party exercises its right of termination under Section 10.4.1, this Agreement shall remain in force and effect as to the remaining part of the Hotel and Owner shall use the compensation paid on account of such Condemnation (the “Award”) for Restoration. The balance of any Awards shall belong to Owner.
Sample 1
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If No Termination. (1) If, prior to Closing, any part of the Hotel Premises of any Hotel is damaged or destroyed (a "Casualty"), and Buyer either does not have or elects not to exercise the right under Section 9.3(a) to terminate this Agreement, this Agreement shall continue in force and, upon Closing:
Sample 1
If No Termination. In the event Buyer does not terminate this Agreement pursuant to Section 6.1 above or in the event of the occurrence of any casualty to the Property after the Effective Date and before the close of Escrow which shall cost Two Hundred Thousand Dollars ($200,000.00) or less, will take less than six (6) months to repair and will not allow any Tenant to terminate its Lease, or the commencement of any eminent domain or condemnation proceedings with respect to any non-material portion of the Property, the obligations of the parties hereunder shall be unaffected and the parties shall proceed to close of Escrow without reduction of the Purchase Price. In such case, Seller shall deliver to Buyer, on the Closing Date, as applicable (i) the proceeds, if any, of all insurance coverage applicable to such damage previously received by Seller and an assignment of all insurance proceeds, if any, applicable thereto, plus an amount equal to the lesser of (1) the deductible amount under Seller’s casualty insurance policy, or (2) the difference obtained by subtracting the insurance proceeds available on account of such damage from the reasonable cost to repair or restore the damaged property, or (ii) the condemnation proceeds, if any, previously received by Seller and an assignment of all condemnation proceeds, if any, applicable thereto. Seller shall not settle any insurance or condemnation claim without the prior written consent of Buyer which shall not be unreasonably withheld or delayed.
Sample 1

Related to If No Termination

  • No Termination This is a continuing irrevocable guaranty and shall remain in full force and effect and be binding upon the undersigned, and each of the undersigned's successors and assigns, until all of the Obligations have been paid in full and Laurus' obligation to extend credit pursuant to the Documents has been irrevocably terminated. If any of the present or future Obligations are guarantied by persons, partnerships or corporations in addition to the undersigned, the death, release or discharge in whole or in part or the bankruptcy, merger, consolidation, incorporation, liquidation or dissolution of one or more of them shall not discharge or affect the liabilities of any undersigned under this Guaranty.

  • No Termination Event There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant to Section 12(a).

  • No Termination or Abatement Lessee shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any action for bankruptcy, insolvency, reorganization, liquidation, dissolution, or other proceeding affecting any Person or any Governmental Authority, or any action with respect to this Lease or any Operative Agreement which may be taken by any trustee, receiver or liquidator of any Person or any Governmental Authority or by any court with respect to any Person, or any Governmental Authority. Lessee hereby waives all right (a) to terminate or surrender this Lease (except as permitted under the terms of the Operative Agreements) or (b) to avail itself of any abatement, suspension, deferment, reduction, setoff, counterclaim or defense with respect to any Rent. Lessee shall remain obligated under this Lease in accordance with its terms and Lessee hereby waives any and all rights now or hereafter conferred by statute or otherwise to modify or to avoid strict compliance with its obligations under this Lease. Notwithstanding any such statute or otherwise, Lessee shall be bound by all of the terms and conditions contained in this Lease.

  • No Termination, Abatement, Etc Except as otherwise specifically provided in this Agreement, each of Landlord and Tenant, to the maximum extent permitted by law, shall remain bound by this Agreement in accordance with its terms and shall not take any action without the consent of the other to modify, surrender or terminate this Agreement. In addition, except as otherwise expressly provided in this Agreement, Tenant shall not seek, or be entitled to, any abatement, deduction, deferment or reduction of the Rent, or set-off against the Rent, nor shall the respective obligations of Landlord and Tenant be otherwise affected by reason of (a) any damage to or destruction of the Leased Property, or any portion thereof, from whatever cause or any Condemnation, (b) the lawful or unlawful prohibition of, or restriction upon, Tenant’s use of the Leased Property, or any portion thereof, or the interference with such use by any Person or by reason of eviction by paramount title; (c) any claim which Tenant may have against Landlord by reason of any default (other than a monetary default) or breach of any warranty by Landlord under this Agreement or any other agreement between Landlord and Tenant, or to which Landlord and Tenant are parties; (d) any bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding up or other proceedings affecting Landlord or any assignee or transferee of Landlord; or (e) for any other cause whether similar or dissimilar to any of the foregoing (other than a monetary default by Landlord). Except as otherwise specifically provided in this Agreement, Tenant hereby waives all rights arising from any occurrence whatsoever, which may now or hereafter be conferred upon it by law (a) to modify, surrender or terminate this Agreement or quit or surrender the Leased Property, or any portion thereof, or (b) which would entitle Tenant to any abatement, reduction, suspension or deferment of the Rent or other sums payable or other obligations to be performed by Tenant hereunder. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and the Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events unless the obligations to pay the same shall be terminated pursuant to the express provisions of this Agreement.

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

  • Modification or Termination The Loan Documents may only be modified or terminated by a written instrument or instruments intended for that purpose and executed by the party against which enforcement of the modification or termination is asserted. Any alleged modification or termination which is not so documented shall not be effective as to any party.

  • TERMINATION OR SUSPENSION 10.1. The CONTRACTOR shall be considered in material default of this Agreement and such default will be considered cause for the CITY to terminate this Agreement, in whole or in part, as further set forth in this section, for any of the following reasons: (a) failure to begin work under the Agreement within the times specified under the Notice(s) to Proceed, or (b) failure to properly and timely perform the services to be provided hereunder or as directed by the CITY, or (c) the bankruptcy or insolvency or a general assignment for the benefit of creditors by the CONTRACTOR or by any of the CONTRACTOR's principals, officers or directors, or (d) failure to obey laws, ordinances, regulations or other codes of conduct, or (e) failure to perform or abide by the terms or spirit of this Agreement, or (f) for any other just cause. The CITY may so terminate this Agreement, in whole or in part, by giving the CONTRACTOR at least 3 calendar days’ written notice.

  • TEN TERMINATION OR SUSPENSION 10.1. CONTRACTOR shall be considered in material default of this Agreement and such default will be considered cause for OWNER to terminate this Agreement, in whole or in part, as further set forth in this section, for any of the following reasons: (a) failure to begin work under the Agreement within the times specified under the Notice(s) to Proceed, or (b) failure to properly and timely perform the services to be provided hereunder or as directed by OWNER, or (c) the bankruptcy or insolvency or a general assignment for the benefit of creditors by CONTRACTOR or by any of CONTRACTOR's principals, officers or directors, or (d) failure to obey laws, ordinances, regulations or other codes of conduct, or (e) failure to perform or abide by the terms or spirit of this Agreement, or (f) for any other just cause. The OWNER may so terminate this Agreement, in whole or in part, by giving the CONTRACTOR seven (7) calendar day’s written notice.

  • Expiration or Termination A. Owner shall have the right, upon thirty (30) days prior written notice to Operator, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:

  • TERMINATION OR MODIFICATION A. This Agreement shall continue in full force and effect until December 31, 2011.

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