Common use of NAMED MANAGER/OPERATOR CONDITION Clause in Contracts

NAMED MANAGER/OPERATOR CONDITION. This Lease is conditioned upon Lessee supervising the management and operation of the Premises. Should Lessee cease to exist (but not where Lessee merely changes its name, jurisdiction of incorporation, form, or similar actions, provided that control of Lessee remains materially the same upon such action), Lessor shall have the right to terminate this Lease by giving ten (10) days written notice thereof and shall thereafter have the right to enter and take possession of the Premises and Equipment.

Appears in 3 contracts

Sources: Lease Agreement, Lease Agreement, Lease Agreement