Common use of Post-Closing Undertaking Clause in Contracts

Post-Closing Undertaking. Within 180 days of the Restatement Effective Date, Landlord shall either (i) pay off and otherwise satisfy all outstanding obligations under the Fleet Mortgage and deliver to Tenant a document executed and delivered by Fleet National Bank in form and substance reasonably satisfactory to Tenant evidencing such satisfaction or (ii) deliver to Tenant an SNDA executed by the holder of the Fleet Mortgage as such Fleet Mortgage may have been modified or amended (a “Fleet SNDA”). If Landlord fails to comply with the provisions of the preceding sentence when and as required to do so, then Tenant shall be entitled to an offset of $50,000 per month (prorated daily) against Fixed Rent, so long as such failure continues.

Post-Closing Undertaking. Within 180 days of the Restatement Effective Date, Landlord shall either (i) pay off and otherwise satisfy all outstanding obligations under the Fleet Mortgage and deliver to Tenant a document executed and delivered by Fleet National Bank in form and substance reasonably satisfactory to Tenant evidencing such satisfaction or (ii) deliver to Tenant an SNDA executed by the holder of the Fleet Mortgage as such Fleet Mortgage may have been modified or amended (a “"Fleet SNDA”"). If Landlord fails to comply with the provisions of the preceding sentence when and as required to do so, then Tenant shall be entitled to an offset of $50,000 per month (prorated daily) against Fixed Rent, so long as such failure continues.