Common use of Lease Covenants Clause in Contracts

Lease Covenants. Landlord agrees that the Leases shall not be modified or surrendered to Landlord or cancelled by Tenant, nor shall Landlord accept a surrender of the Consolidated Lease or the Intercoastal Lease without the prior written consent of the Agent, nor shall any merger result from the acquisition by, or devolution upon, any one entity of both the fee in the Premises and the leasehold estate. If the Leases shall terminate prior to the scheduled expiration dates, Landlord shall at the Agent’s sole election enter into a new lease for the Premises covered by the Leases with the Agent for the remainder of the then term thereof, effective as of the date of such termination at the same rent and upon the same terms, covenants and conditions contained therein on the condition that the Agent shall make a written request for such new lease within thirty (30) days after the date of its actual receipt of a notice of such termination or, if proceedings are commenced by or on behalf of Tenant within such thirty (30) day period that stay or extend the effective date of such termination, within ten (10) days of the date on which such termination is finally determined to be effective by a court of competent jurisdiction and on the commencement date of the term of the new lease, the Agent shall cure all defaults of Tenant under the Leases that are susceptible of being cured by the Agent and that remain uncured on such date and shall pay or cause to be paid all unpaid sums which at such time would have been payable under the Leases but for such termination (provided, that, the Agent shall only cure those defaults of which it is given notice and an opportunity to cure as provided in paragraph 3 above).

Lease Covenants. Landlord agrees that the Leases shall not be modified or surrendered to Landlord or cancelled by Tenant, nor shall Landlord accept a surrender of the Consolidated Lease or the Intercoastal Lease Leases without the prior written consent of the Agent, nor shall any merger result from the acquisition by, or devolution upon, any one entity of both the fee in the Premises and the leasehold estate. If the Leases shall terminate prior to the scheduled expiration dates, Landlord shall at the Agent’s 's sole election enter into a new lease for the Premises covered by the Leases with the Agent for the remainder of the then term thereof, effective as of the date of such termination at the same rent and upon the same terms, covenants and conditions contained therein on the condition that the Agent shall make a written request for such new lease within thirty (30) days after the date of its actual receipt of a notice of such termination or, if proceedings are commenced by or on behalf of Tenant within such thirty (30) day period that stay or extend the effective date of such termination, within ten (10) days of the date on which such termination is finally determined to be effective by a court of competent jurisdiction and on the commencement date of the term of the new lease, the Agent shall cure all defaults of Tenant under the Leases that are susceptible of being cured by the Agent and that remain uncured on such date and shall pay or cause to be paid all unpaid sums which at such time would have been payable under the Leases but for such termination (provided, that, the Agent shall only cure those defaults of which it is given notice and an opportunity to cure as provided in paragraph 3 above).