New Lease Option Period definition

New Lease Option Period shall have the meaning set forth in Section 19.6 of this Lease.
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New Lease Option Period means, upon the occurrence of a termination of this Lease (other than as the result of (1) the scheduled expiration date of the Term; or (2) a termination pursuant to Article 17 or Article 18 of this Lease), a period that begins on the date of such termination and ends on the date thirty (30) calendar days after such termination; provided, however, that a Leasehold Mortgagee shall have the right to extend such period up to three
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New Lease Option Period means the period commencing upon the occurrence of a New Lease Option Period Trigger Event and ending on the date that is forty-five (45) days after the date on which Landlord Notifies all Leasehold Mortgagee(s) of such New Lease Option Period Trigger Event. The New Lease Option Period shall be tolled and extended: (x) during any Bankruptcy Proceeding affecting Landlord; and (y) for Force Majeure.
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Examples of New Lease Option Period in a sentence

  • Although such assignment is presently effective, Landlord shall not exercise or seek to exercise any rights as assignee unless and until the Lease has been terminated, the New Lease Option Period has expired without a request for a New Lease, and Tenant’s lender has consented in writing to such assignment in its sole discretion.

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  • The New Lease Option Period shall be tolled and extended during any period during which any Leasehold Mortgagee's right to require the County to enter into a New Lease is restricted or impaired by a Bankruptcy Proceeding, but not if such restriction or impairment is a result of the acts or omissions of such Leasehold Mortgagee).

  • All rights of any Leasehold Mortgagee, and obligations of Landlord, regarding a New Lease shall survive the termination of this Lease for the duration of the New Lease Option Period.

  • All rights of any Leasehold Mortgagee, and obligations of the County, regarding a New Lease shall survive the termination of this Lease for the duration of the New Lease Option Period.

  • A "New Lease Option Period" means, upon the occurrence of a termination of this Lease (other than as the result of the scheduled expiration date of the Term or termination for casualty or condemnation under Article 19 or Article 20), a period that begins on the date of such termination and ends on the date 90 days after the County has given every Leasehold Mortgagee Notice of such date of termination.

  • If Leasehold Mortgagee exercises its option to require Landlord to enter into a New Lease with New Tenant, New Tenant shall execute the New Lease within thirty (30) days after expiration of the New Lease Option Period or the option shall be deemed to be waived and of no further effect.

  • If this Lease terminates and the New Lease Option Period has expired without any Leasehold Mortgagee requesting a New Lease, then the obligations formerly secured by the Leasehold Mortgage shall be unsecured.

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  • Upon a Leasehold Mortgagee's request given within the New Lease Option Period, the County shall enter into a New Lease with New Lessee, provided that such Leasehold Mortgagee shall, on the New Lease Delivery Date: (1) pay to the County any and all sums then due under this Lease as if this Lease had not been terminated; and (2) agree to cure all then‑uncured nonmonetary defaults (other than Uncurable Defaults), within a reasonable period after the New Lease Delivery Date with reasonable diligence.

Related to New Lease Option Period

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Option Period means the period during which an Option may be exercised.

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Founder Shares Lock-up Period means, with respect to the Founder Shares, the period ending on the earlier of (A) one year after the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.