Release of Lessee. If Lessee completes the sale of the Assets to Assignee, ----------------- Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease.
Release of Lessee. In the event that Lessee is now or becomes (except for voluntary enlistment) a member of the Armed Forces of the United States on active duty and receives change-of-duty orders to depart the local area, or is relieved or discharged from active duty, then Lessee may terminate this Agreement by giving Lessor thirty (30) days written notice, provided that Lessee is not otherwise in default or breach. In such event Lessee agrees to furnish Lessor a certified copy of such official orders which warrant termination of this Agreement; it is expressly provided, however, that orders authorizing base housing shall not constitute change-of-duty orders warranting termination of Lessee. Lessee shall not be released from this Agreement for any other reason.
Release of Lessee. Any assignment of this Lease by Lessee in accordance with Section 8.1 shall operate to terminate the liability of Lessee for all obligations under this Lease accruing after the date of any such assignment.
Release of Lessee. Lessee shall be relieved from its obligations under this Lease:
Release of Lessee. If Lessee completes the sale of the Assets to Assignee, Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease. Lessor agrees that it will provide Lessee with written notice of any default by Assignee under the Lease at the time that any such notice is provided to Assignee in accordance with the notice provisions of the Lease. Lessor agrees to reserve to Lessee the right, concurrent with Assignee, to cure any such within the cure period provided under the default provisions of the Lease. For purposes of Lessee's cure right, the cure period under the default provisions shall commence on the date notice is received by Lessee. Such right, if exercised, shall act as a reassignment of the Lease from Assignee to Lessee and Lessor hereby consents to a reassignment of the Lease from Assignee to Lessee. Assignee agrees to reassign the Lease from Assignee to Lessee, effective immediately upon expiration of the cure period as provided for in the default provisions of the Lease if the Lessee has cured, and the Assignee has not cured, in accordance with the default provisions of the Lease. In the event of such reassignment Lessee shall perform all duties and assume all obligations and liabilities arising under the Lease.
Release of Lessee. Unless LESSOR has given LESSEE(S) a written release, LESSEE(S) will not be released from this Lease for any reason – including but not limited to voluntary or involuntary school withdrawal or transfer, voluntary or involuntary job transfer, marriage, separation, divorce, reconciliation, loss of CO-LESSEE(S) or CO-MAKER, loss of employment, bad health, or death.
Release of Lessee. Effective as of the Termination Date, and subject to the agreements, representations, warranties and indemnities contained in this Agreement, which agreements, representations, warranties and indemnities shall survive the termination of the Master Lease and the Leases, Lessor forever releases and discharges Lessee from any and all claims, demands or causes of action whatsoever against Lessee or its successors and assigns arising out of or in connection with the Equipment, the Master Lease or the Leases and forever releases and discharges Lessee from any obligations to be observed or performed by Lessee under the Master Lease and the Leases.
Release of Lessee. The City releases the Lessee from liability to the City for Contamination and the presence of Hazardous Substances that existed prior to the commencement date of this lease unless caused or materially contributed to by the Lessee.
Release of Lessee. For the avoidance of doubt, the Lessee will not be released or discharged from all obligations and liability pursuant to this Lease and its occupation of the Premises as from the date of an assignment.
Release of Lessee. Lessor agrees that it will, from time to time, release one or more of the entities (or the stock or assets of one or more of the entities) which comprise the Lessee (but not including Gerber Scientific, Inc.) from the terms and conditions of this Lease upon the request of Gerber Scientific, Inc., but subject to the following conditions. Such a release will be given if: The credit rating of Gerber Scientific, Inc. is BBB+ or higher at the time the release is requested and it is reasonably expected that the credit rating of Gerber Scientific, Inc. will be no less than BBB+ immediately following the Transaction (as defined below) to which the release relates; or Evidence is provided that upon the conclusion of the Transaction for which the release is requested (x) the entity for which the release is requested will remain controlled by Gerber Scientific, Inc. (more than 50% of the stock of the corporation, or interest in the equity thereof if not a corporation, will remain owned by Gerber Scientific, Inc.) and (y) the consolidated net worth of the entity for which the release is requested measured under GAAP will be at least equal to 70 % of the consolidated net worth of that same entity as measured at the end of the fiscal quarter immediately preceding the transaction; or Gerber Scientific, Inc. shall pay as an additional Hold Back Amount a sum equal to six (6) months rent computed at the then applicable Rent due under this Lease in connection with each release of an entity. The sums paid hereunder which are added to the Hold Back Amount shall be subject to the provisions of Section 13.1 hereof as if it were deposited as of the commencement of this Lease. Notwithstanding any other provisions of this Lease, all entities that constitute the Lessee under this Lease, other than Gerber Scientific, Inc., will be released from any and all obligations under this Lease on the date which is 24 months after the expiration of this Lease, either in accordance with its terms or upon earlier termination. If a release is granted as to a portion of the assets of an entity, the Lease shall continue to bind the released entity as to the assets which are not part of the Transaction. As used herein, the term "Transaction" shall mean any arrangement, or series of arrangements, for sale of the stock of or assets of an entity for which the release is being requested occurring within any consecutive twenty-four (24) month period during the term of this Lease. In the event that any of...
