Nullification Notice definition

Nullification Notice means a written notice in which ▇▇▇▇▇▇▇▇▇ agrees to reimburse Seller at Closing for all Repair Costs in excess of the Repair Costs Cap. Seller will have the right to adjourn the Closing Date and/or the Outside Closing Date, as the case may be, for up to sixty (60) days to obtain the requisite Occupancy Certificates and make any repairs, replacements, alterations and changes to the Property required in connection therewith.
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Examples of Nullification Notice in a sentence

  • The provisions of Subsection 18.2.9 below shall apply if during such thirty (60) or ninety (90) day Default Notice Period, any Leasehold Mortgagee shall notify Landlord of such Leasehold Mortgagee's desire to nullify such notice (the "Nullification Notice").

  • If either party chooses to cancel with a 30-day written notice, a Change in Management & Lease Nullification Notice will be sent to all parties to any current lease agreements.

  • Notwithstanding the foregoing, Seller shall not have the right to give a Termination Nullification Notice if the total amount of all alleged Claims exceed $5,000,000 (in Purchaser’s good faith and reasonable estimate).

  • If this Lease is not terminated or if Landlord's termination is nullified by a Nullification Notice, Landlord shall be obligated to restore the Premises as provided above.

  • If Sublandlord delivers a Sublandlord Nullification Notice, then Sublandlord shall promptly take such steps as are necessary to correct the Master Landlord Failure at Sublandlord’s sole cost and expense.

  • Notwithstanding the foregoing, Landlord may nullify Tenant’s exercise of its option to extend the Term by written notice to Tenant (the “Nullification Notice”) if (A) on the date Landlord receives the Extension Notice, there is an event which, with the passage of time and/or the giving of notice, would constitute an Event of Default hereunder and (B) Tenant fails to cure such default within the applicable cure period set forth in Section 20.1 after receipt of the Nullification Notice.

  • Such termination shall be effective twenty (20) days following receipt of the notice by the other party, except that a notice of termination by Landlord shall be of no force or effect if within twenty (20) days after receipt of such notice Tenant gives written notice ("Nullification Notice") to Landlord of Tenant's exercise of any available renewal option.

  • The KEP Subscription Agreement is accordingly hereby amended to remove the right of the New Partners to issue a Nullification Notice and terminate the KEP Subscription Agreement.

  • In addition, in the event Landlord has not secured the necessary governmental approvals within sixty (60) days after mutual execution of the Lease, Tenant shall have the right to terminate the Lease by giving Landlord written notice of termination within ten days of the applicable due date; provided however, Landlord may void Tenant's notice of termination upon written notice given within ten (10) days of receiving Tenant's notice of termination ("Landlord's Nullification Notice").

  • Notwithstanding the foregoing, Landlord may nullify Tenant’s exercise of its option to extend the Term by written notice to Tenant (the “Nullification Notice”) if (A) on the date Landlord receives the Extension Notice, there is an event which, with the passage of time and/or the giving of notice, would constitute an Event of Default hereunder and (B) Tenant fails to cure such default within the applicable cure period set forth in Section 20.1 of the Lease after receipt of the Nullification Notice.