Termination of Leases. In the event any individual Lease or Subject Interest (or portion thereof, as applicable) should be released, surrendered or abandoned by Grantor pursuant to Section 3.1 the Overriding Royalty Interest no longer shall apply to that particular Lease or Subject Interest (or such portion thereof, as applicable). Upon termination of the Overriding Royalty Interest, as above provided, upon request by Grantor, Grantee shall, at Grantee's expense, execute and deliver such instrument or instruments as may be necessary to evidence the termination of the Overriding Royalty Interest.
Termination of Leases. Between the date hereof and the Closing Date, Seller shall not cancel, accept the surrender of, or terminate any of the Existing Leases or New Leases without Purchaser's prior written consent in each instance, which consent shall not be unreasonably withheld; provided, however, Seller shall have the right, without Purchaser's consent, to cancel, accept the surrender of, or terminate an Existing Lease or a New Lease (i) if such cancellation, surrender or termination is predicated upon a default of the tenant thereunder or (ii) if such cancellation, surrender or termination is made by the tenant pursuant to the terms of the Existing Lease or the New Lease, as the case may be. Seller shall furnish Purchaser promptly after the occurrence thereof with notice of any such cancellation, surrender or termination. If required, Purchaser's consent shall be deemed granted if not denied by notice (stating the grounds for denial with reasonable specificity) given to Seller within five (5) Business Days after request for such consent by Seller.
Termination of Leases. In the event of the withdrawal of a member town from the District, the leases mentioned in subsection III-B shall be terminated at the time of such withdrawal.
Termination of Leases. In the event of the withdrawal of a member town from the District, any leases of land or buildings in the withdrawing town, including any lease entered into subsequent to the acceptance of this Agreement, shall be terminated on the effective date of such withdrawal.
Termination of Leases. At Closing, the Seller shall have caused any and all leases applicable to the Property to be terminated. This provision shall survive Closing.
Termination of Leases. Seller shall take such actions as may be necessary to terminate, effective as of the Closing Date, the real estate leases described at Items 7 and 8 of SCHEDULE 2.2 hereto.
Termination of Leases. Landlord may terminate this Lease, by written notice to Tenant, without any right by Tenant to reinstate its rights by payment of rent due or other performance of the terms and conditions hereof. Upon such termination Tenant shall immediately surrender possession of the Demised Premises to Landlord, and Landlord shall immediately become entitled to receive from Tenant an amount equal to the difference between the aggregate of all Fixed Rent and Additional Rent reserved under this Lease for the balance of the Lease Term, and the fair rental value of the Demised Premises for that period, determined as of the date of such termination.
Termination of Leases. The leases related to the Assets (all of which are described in Schedule 4.1.6) shall have been terminated in such a manner so that the Seller shall own the Assets subject thereto free and clear of the terms of such leases.
Termination of Leases. The Parent and Sellers shall take all action necessary to terminate all the leases related to the Assets including those identified on Schedule 4.1.6, so as to satisfy the condition to Closing set forth in Section 4.1.6.
Termination of Leases. As of the Closing Date, the Sellers shall cause the Company to terminate the leases of the buildings and land in and upon which the Company operates as of the date hereof and neither the Company nor Sub shall have any obligation or liability, directly or indirectly, arising in connection with or on account of such termination.
