Common use of Leasehold Interest Clause in Contracts

Leasehold Interest. (a) Any rent, premium, administrative fees and all other fees payable to the IIAC or any Governmental Agency in respect of the Leasehold Interest (save and except any fees not yet due to be paid) have been duly paid up to date, and the terms and conditions reserved and contained in the Implementation Agreement have been observed and performed up to date to the extent that failure to do so would have or be reasonably likely to have a Material Adverse Effect.