Common use of Temporary Occupancy Clause in Contracts

Temporary Occupancy. In the event that the Actual Closing for any Leased Property does not occur on or before the Separation Date, S▇▇▇ ▇▇▇ and HBI shall use their respective reasonable best efforts to allow HBI to occupy such Leased Property upon the terms and conditions contained in the relevant Lease and until the Actual Closing for such Leased Property; provided, however, that if an enforcement action or forfeiture by the relevant Landlord due to HBI’s or its applicable Subsidiary’s occupation of such Leased Property constituting a breach of a Relevant Lease cannot, in the reasonable opinion of S▇▇▇ ▇▇▇, be avoided other than by requiring HBI or its applicable Subsidiary to promptly vacate the relevant Leased Property, S▇▇▇ ▇▇▇ may by notice to HBI promptly require HBI or its applicable Subsidiary to vacate the relevant Leased Property on not less than ten (10) days prior written notice. HBI will be responsible for all Losses incurred by S▇▇▇ ▇▇▇ or any of its Subsidiaries as a consequence of such occupation. Neither HBI nor its applicable Subsidiary shall be entitled to make any claim or demand against, or obtain reimbursement from, S▇▇▇ ▇▇▇ or any of its Subsidiaries with respect to any Losses incurred by HBI or its applicable Subsidiary as a consequence of being obliged to vacate the Leased Property or in obtaining alternative premises, including, without limitation, any Action or forfeiture which a Landlord may take against HBI or its applicable Subsidiary.

Appears in 1 contract

Sources: Real Estate Matters Agreement (Hanesbrands Inc.)

Temporary Occupancy. In the event that the Actual Closing for any Leased Property does not occur on or before the Separation Date, S▇▇▇ ▇▇▇ and HBI shall use their respective reasonable best efforts to allow HBI to occupy such Leased Property upon the terms and conditions contained in the relevant Lease and until the Actual Closing for such Leased Property; provided, however, that if an enforcement action or forfeiture by the relevant Landlord due to HBI’s or its applicable Subsidiary’s occupation of such Leased Property constituting a breach of a Relevant Lease cannot, in the reasonable opinion of S▇▇▇ ▇▇▇, be avoided other than by requiring HBI or its applicable Subsidiary to promptly vacate the relevant Leased Property, S▇▇▇ ▇▇▇ may by notice to HBI promptly require HBI or its applicable Subsidiary to vacate the relevant Leased Property on not less than ten (10) days prior written notice. HBI will be responsible for all Losses incurred by S▇▇▇ ▇▇▇ or any of its Subsidiaries as a consequence of such occupation. Neither HBI nor its applicable Subsidiary shall be entitled to make any claim or demand against, or obtain reimbursement from, S▇▇▇ ▇▇▇ or any of its Subsidiaries with respect to any Losses incurred by HBI or its applicable Subsidiary as a consequence of being obliged to vacate the Leased Property or in obtaining alternative premises, including, without limitation, any Action or forfeiture which a Landlord may take against HBI or its applicable Subsidiary.

Appears in 1 contract

Sources: Real Estate Matters Agreement (Hanesbrands Inc.)