Common use of Occupancy Term Clause in Contracts

Occupancy Term. (a) The City shall take possession of the Property on the Delivery Date. (b) The term of this Lease Agreement shall commence on the Delivery Date and shall end on the Scheduled Termination Date, unless such term is extended or sooner terminated as hereinafter provided. (c) If all of the Property shall be taken under the power of eminent domain, and the City does not elect to cause alternate real property to be substituted for all or a portion of the Property pursuant to, and in accordance with the provisions of, Section 8.03 hereof, as provided in clause (i) of Section 5.07(c) hereof but, rather, elects to deliver or cause to be delivered any award made in eminent domain proceedings for such taking to the Trustee for the application to the redemption, pursuant to Section 4.01 of the Indenture, of all or a portion of the Outstanding Bonds, as provided in clause (ii) of Section 5.07(c) hereof, then, on the date that possession thereof shall be so taken, the term of this Lease Agreement shall terminate. (d) If, prior to the Scheduled Termination Date, all Bonds shall be fully paid, or deemed paid in accordance with Article X of the Indenture, then, on the date of such payment or deemed payment, the term of this Lease Agreement shall terminate. (e) If on the Scheduled Termination Date, the Rental Payments payable hereunder shall have been abated at any time and for any reason, then the term of this Lease Agreement shall be extended until the date upon which all such Rental Payments shall have been paid in full, except that the term of this Lease Agreement shall in no event be extended more than ten years beyond the Scheduled Termination Date. (f) Upon the termination of the term of this Lease Agreement (other than as provided in Section 7.01 hereof), and the first date upon which the Bonds are no longer Outstanding, all right, title and interest in and to the Property shall vest in the City. Upon any such termination or expiration, the Authority and the Trustee shall execute such conveyances, deeds and other documents as may be necessary to effect such vesting of record.

Occupancy Term. (a) The City County shall take possession of the Property on the Delivery Closing Date. (b) The term of this Lease Agreement shall commence on the Delivery Closing Date and shall end on the Scheduled Termination Date, unless such term is extended or sooner terminated as hereinafter provided. (c) If all of the Property shall be taken under the power of eminent domain, and the City County does not elect to cause alternate real property to be substituted for all or a portion of the Property pursuant to, and in accordance with the provisions of, Section 8.03 hereof, as provided in clause (i) of Section 5.07(c) hereof but, rather, elects to deliver or cause to be delivered any award made in eminent domain proceedings for such taking to the Trustee for the application to the redemptionprepayment, pursuant to Section 4.01 4.01(a) of the IndentureTrust Agreement, of all or a portion of the Outstanding BondsCertificates, as provided in clause (ii) of Section 5.07(c) hereof, then, on the date that possession thereof shall be so taken, the term of this Lease Agreement shall terminate. (d) If, prior to the Scheduled Termination Date, all Bonds Certificates shall be fully paid, or deemed paid in accordance with Article X of the IndentureTrust Agreement, then, on the date of such payment or deemed payment, the term of this Lease Agreement shall terminate. (e) If on the Scheduled Termination Date, the Rental Payments payable hereunder shall have been abated at any time and for any reason, then the term of this Lease Agreement shall be extended until the date upon which all such Rental Payments shall have been paid in full, except that the term of this Lease Agreement shall in no event be extended more than ten years beyond the Scheduled Termination Date. (f) Upon the termination of the term of this Lease Agreement (other than as provided in Section 7.01 hereof), and the first date upon which the Bonds Certificates are no longer Outstanding, all right, title and interest in and to the Property shall vest in the CityCounty. Upon any such termination or expiration, the Authority and the Trustee Corporation shall execute such conveyances, deeds and other documents as may be necessary to effect such vesting of record.

Occupancy Term. (a) The City shall take possession of the Property on the Delivery Date. (b) The term of this Lease Agreement shall commence on the Delivery Date and shall end terminate on the Scheduled Termination Date, unless such term is extended or sooner terminated as hereinafter provided. (c) If on the Scheduled Termination Date, the Rental Payments payable hereunder shall have been abated at any time, then the term of this Lease Agreement shall be extended until the date upon which all such Rental Payments shall have been paid in full and all Bonds shall be fully paid, or deemed paid in accordance with Article X of the Indenture, except that the term of this Lease Agreement shall in no event be extended more than ten years beyond the Scheduled Termination Date. (d) If (i) all of the Property shall be taken under the power of eminent domain, and (ii) if such taking occurs on or after the Resort Bonds Lease Termination Date and the City does not elect to cause alternate real property to be substituted for all or a portion of the Property pursuant to, and in accordance with the provisions ofas provided in, Section 8.03 hereof, as provided in clause (i) of Section 5.07(c) hereof but, rather, elects to deliver or cause to be delivered any award made in eminent domain proceedings for such taking to the Trustee for the application to the redemption, pursuant to Section 4.01 of the Indenture, of all or a portion of the Outstanding Bonds, as provided in clause (ii) of Section 5.07(c5.07(e) hereof, then, on the date that possession thereof shall be so taken, the term of this Lease Agreement shall terminate. (de) If, prior to the Scheduled Termination Date, all Bonds shall be fully paid, or deemed paid in accordance with Article X of the Indenture, then, on the date of such payment or deemed payment, the term of this Lease Agreement shall terminate. (ef) If on Prior to the Scheduled Resort Bonds Lease Termination Date, the Rental Payments payable hereunder shall have been abated at any time and for any reason, then the term of this Lease Agreement shall be extended until the date upon which all such Rental Payments shall have been paid in full, except that the term of this Lease Agreement shall in no event be extended more than ten years beyond the Scheduled Termination Date. (f) Upon the termination of the term of this Lease Agreement (other than as provided in Section 7.01 hereof), ) and the first date Ground Lease, the Authority, the Trustee and the City shall execute such conveyances, termination agreements and other documents as may be necessary to evidence such termination. From and after the Resort Bonds Lease Termination Date, upon which the Bonds are no longer Outstandingtermination of this Lease Agreement and the Ground Lease, all right, title and interest in and to the Property shall vest in the City. Upon any such termination or expirationtermination, the Authority Authority, the Trustee and the Trustee City shall execute such conveyances, deeds and other documents as may be necessary to effect such vesting of record.