Rejection of Leases. In the event a tenant under any Lease should be the subject of any proceeding under the Federal Bankruptcy Act (Title 11 U.S.C.) or any other federal, state, or local statute which provides for the possible termination or rejection of the Leases assigned hereby, the Assignor covenants and agrees that if any of the Leases is so rejected, no settlement for damages shall be made without prior written consent of the Agent, and any check in payment of damages for rejection of such Lease will be made payable both to the Assignor and Agent. The Assignor hereby assigns any such payment to the Agent and further covenants and agrees that upon the request of the Agent, it will duly endorse to the order of the Agent any check, the proceeds of which will be applied to whatever portion of the indebtedness secured hereby and by the Security Documents which the Agent may elect.
Rejection of Leases. In the event a tenant under any Lease should be the subject of any proceeding under the Federal Bankruptcy Act (Title 11 U.S.C.) or any other federal, state, or local statute which provides for the possible termination or rejection of the Leases assigned hereby, the Assignor covenants and agrees that if any Lease that covers 25,000 square feet or more of the Property (a “Major Lease”) is so rejected, no settlement for damages shall be made without prior written consent of the Agent, and any check in payment of damages in respect of such Major Lease for rejection of any Major Lease will be made payable both to the Assignor and Agent. The Assignor hereby assigns any such payment to the Agent and further covenants and agrees that upon the request of the Agent, it will duly endorse to the order of the Agent any check, the proceeds of which will be applied to whatever portion of the indebtedness secured hereby and by the Security Documents which the Agent may elect.
Rejection of Leases. The rejection of any lease or termination of a real property lease by the Borrower or any of its Subsidiaries (including, without limitation, as a result of the expiration of the assumption period provided for in Section 365(d)(4) of the Bankruptcy Code), the impact of which, individually or in the aggregate with all other rejections or terminations permitted hereunder, has a material adverse effect on the business and operations of the Borrower and its Subsidiaries.SECTION 8.1.10.
Rejection of Leases. In the event a tenant under any Lease should be the subject of any proceeding under the Federal Bankruptcy Act (Title 11 U.S.C.) or any other federal, state, or local statute which provides for the possible termination or rejection of the Leases assigned hereby, the Grantor covenants and agrees that if any Lease that covers 25,000 square feet or more of the Property (a “Major Lease”) is so rejected, no settlement for damages shall be made without prior written consent of the Agent, and any check in payment of damages in respect of such Major Lease for rejection of any Major Lease will be made payable both to the Grantor and Agent. The Grantor hereby assigns any such payment to the Agent and further covenants and agrees that upon the request of the Agent, it will duly endorse to the order of the Agent any check, the proceeds of which will be applied to whatever portion of the indebtedness secured hereby and by the Security Documents which the Agent may elect.
Rejection of Leases. Trustor further covenants and agrees as follows:
Rejection of Leases. The Borrower shall not, and shall not permit any Credit Party or Restricted Subsidiary to, reject or permit to be deemed to be rejected any leases with respect to Oil and Gas Properties without prior notice to and prompt consultation with the Lenders at least thirty (30) days before the filing of any motion for rejection or the deemed rejection of any such lease.
Rejection of Leases. Any Loan Party rejects an unexpired lease or Material Contract other than with the prior written consent of the Agent and the Required Lenders.
Rejection of Leases. Debtor shall have rejected each of the Debtor Leases and such rejection shall have been approved by the Bankruptcy Court prior to or concurrently with the closing of the Asset Purchase Agreement.
Rejection of Leases. Grantor agrees that no settlement for damages for termination of any of the Subleases under the Bankruptcy Code, or under any other federal, state or local statute, shall be made without the prior written consent of the Beneficiary, and any check in payment of such damages shall be made payable to both Grantor and the Beneficiary. Grantor hereby assigns any such payment to the Beneficiary to be applied to the Obligations in accordance with the terms of the Trust Indenture and agrees to endorse any check for such payment to the order of the Beneficiary.
Rejection of Leases. Prior to the Closing, Seller shall file a motion to the Bankruptcy Court to reject all Unassumed Properties as of September 30, 2003. Seller's leasehold interest in the real property located at 000 Xxxx Xxxxxx, Hollywood, California, shall remain a part of Seller's estate and shall be assumed or rejected in Seller's sole discretion.
