Property Termination Date definition
Examples of Property Termination Date in a sentence
For the avoidance of doubt, as further provided in Section 1.6(k), a Nonprofitable Property shall remain a Nonprofitable Property for the purposes of termination of the Master Lease with respect thereto notwithstanding any improvement in such property’s EBITDAR following any Tenant Termination Election Notice and prior to the Nonprofitable Property Termination Date.
In addition, to the extent that Landlord maintains any policy(ies) of comprehensive general public liability insurance with respect to the Common Areas relating to any Tenant Option Property, Landlord shall name Tenant as an additional insured on each such policy as to all matters arising with respect to such Common Areas from and after the Partial Property Termination Date (if any) with respect to such Tenant Option Property.
With respect to any alarm system installed following the Commencement Date, Tenant shall be solely responsible for connecting such alarm system with Tenant’s own electrical systems and shall not in any way connect, tie into or otherwise append such alarm system to the alarm system for any other property (including, from and after the Partial Property Termination Date with respect to any Tenant Option Property, the Landlord Retained Portion thereof).
At any time prior to the expiration of the Leased Property Termination Date with respect to any Lease covering a TWEC Store, TWEC may direct Agent to commence a Store Closing Sale at such TWEC Store and the provisions of the Order and this Agreement relating to the Store Closing Sales generally shall apply to such Store Closing Sale.
Merchant shall continue until the the Owned Property Termination Date and the Leased Property Termination Date, in such amounts as it currently has in effect, fire, flood, theft and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the cost value thereof.
From and after the Closing Date through the Owned Property Termination Date, Agent shall bear all carrying costs with respect to each such Owned Property as an Expense hereunder.
Notwithstanding any provision contained in this Master Lease to the contrary, Tenant shall not have any obligation to restore any casualty damage or condemnation to any Terminated Property, and shall be entitled to terminate this Master Lease with respect to such Terminated Property on the earlier of (a) any date otherwise provided in Section 12.6 or 12.7, as the case may be, and (b) any applicable Terminated Property Termination Date, upon payment of the applicable Terminated Property Termination Fee.
Promptly after the Intellectual Property Termination Date, the Escrow Agent shall distribute to the Indemnifying Stockholders the difference between (x) 5% of the initial Escrow Property (plus any Buyer Common Stock in respect thereof or in exchange therefor) and (y) any Escrow Property (or Buyer Common Stock in respect thereof or in exchange therefor) previously distributed to the Indemnified Persons pursuant to Section 4 hereof in respect of claims made pursuant to Section 6.1(d) of the Merger Agreement.
Upon the Owned Property Termination Date, the Agent shall have no further obligation or liability with respect to the subject Owned Property identified in the Owned Property Dropout Notice (including any obligation to continue to pay any per diem Real Estate Occupancy Expenses with respect thereto), and the Merchant shall thereafter be solely responsible for all amounts payable or other obligations or liabilities that may be owed in connection with such Owned Property(ies).
From and after the Property Termination Date with respect to a Property, the Base Annual Rental shall be reduced by an amount equal to the product of (i) Applicable Rent Reduction Percentage for such Property, and (ii) the Base Annual Rental in effect immediately preceding the Property Termination Date.