Common use of Sale and Termination of Lease Clause in Contracts

Sale and Termination of Lease. In the event Lessor enters into a contract to sell its interest in the Leased Property, Lessor may terminate this Lease by giving thirty (30) days prior Notice to Lessee, and then, as of the closing of such sale, this Lease shall terminate and be of no further force and effect except as to any obligations existing as of such date that survive termination of this Lease, and all Rent shall be adjusted as of such date. As compensation for the early termination of Lessee’s leasehold estate hereunder, Lessor shall, at Lessor’s election:

Appears in 5 contracts

Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)

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Sale and Termination of Lease. In the event Lessor enters into a contract to sell its interest in the Leased Property, Lessor may terminate this Lease by giving thirty (30) days prior Notice to Lessee, and then, as of the closing of such sale, this Lease shall terminate and be of no further force and effect except as to any obligations existing as of such date that survive termination of this Lease, and all Rent shall be adjusted as of such date. As compensation for the early termination of Lessee’s 's leasehold estate hereunder, Lessor shall, at Lessor’s 's election:

Appears in 1 contract

Samples: Lease Agreement (Highland Hospitality Corp)

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