Common use of Voluntary Surrender Clause in Contracts

Voluntary Surrender. Notwithstanding anything set forth in this Lease to the contrary, Landlord shall not accept a voluntary surrender of the Lease at any time during which the Leasehold Estate (1) is encumbered by a Permitted Leasehold Mortgage; or (2) prior to the expiration of the Compliance Period; (3) prior to such time as Investor Limited Partner is no longer a member of the Tenant; or (4) prior to the end of the Guaranty Period.

Appears in 3 contracts

Sources: Ground Lease, Ground Lease, Ground Lease

Voluntary Surrender. Notwithstanding anything set forth in this Lease to the contrary, Landlord shall not accept a voluntary surrender of the Lease at any time during which the Leasehold Estate is (1) is encumbered by a Permitted Leasehold Mortgage; or (2) prior to the expiration of the Compliance Period; (3) prior to such time as Investor Limited Partner is no longer a member of the Tenant; or (4) prior to the end of the Guaranty Period.

Appears in 1 contract

Sources: Ground Lease

Voluntary Surrender. Notwithstanding anything set forth in this Lease to the contrary, The Landlord shall not accept a voluntary surrender of the this Lease at any time during which the Leasehold Estate (1) is encumbered by a Permitted Leasehold Mortgage; Mortgage or (2) prior to the expiration of the Compliance Period; (3) prior to such time as Investor Limited Partner is no longer a member of Period for the Tenant; or (4) prior to last building in the end of the Guaranty PeriodProject.

Appears in 1 contract

Sources: Ground Lease

Voluntary Surrender. Notwithstanding anything set forth in this Lease contained herein to the contrary, Landlord shall not accept a voluntary surrender of the Lease at any time during which the Leasehold Estate (1) is encumbered by a Permitted Leasehold Mortgage; or (2) Mortgage and prior to the later of (a) expiration of the Compliance Period; applicable fifteen (315) prior to year tax credit compliance period and extended use period as set forth in Section 42 of the Internal Revenue Code of 1986, as amended, for the last building in the Project, or (b) such time as the Investor Limited Partner is no longer a member partner of the Tenant; or (4) prior to the end of the Guaranty Period.

Appears in 1 contract

Sources: Ground Lease