Common use of Termination of Lease Clause in Contracts

Termination of Lease. In the event of either (x) any such sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units and full performance by Lessor and Lessee of their respective payment obligations in compliance with Section 10.3, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall end.

Appears in 21 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

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Termination of Lease. In the event of either (x) any such sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units and full performance by Lessor and Lessee of their respective payment obligations in compliance with Section 10.3herein, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall endend and the obligation to pay Basic Rent and all other Rent for such Terminated Units (except for Supplemental Rent obligations with respect to such Terminated Units surviving pursuant to Section 21 hereof or the Tax Indemnity Agreement or which have otherwise accrued but not been paid as of the date of the expiration of the Lease Term) shall terminate.

Appears in 2 contracts

Samples: Equipment Lease Agreement (Kansas City Southern De Mexico, S. De R.L. De C.V.), Equipment Lease Agreement (Kansas City Southern)

Termination of Lease. In the event of either (x) any such -------------------- sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units and full performance by Lessor and Lessee of their respective its payment obligations in compliance with Section 10.3, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall end.

Appears in 1 contract

Samples: Equipment Lease Agreement (General American Railcar Corp Ii)

Termination of Lease. In the event of either (x) any such sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units Equipment and full performance by Lessor and Lessee of their respective its payment obligations in compliance with Section 10.3, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall end.

Appears in 1 contract

Samples: Equipment Lease Agreement (Gatx Rail Corp)

Termination of Lease. In the event of either (x) any such sale and receipt by the Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Proposed Terminated Units by the Lessor pursuant to Section 10.3 and full performance compliance by the Lessor and Lessee with the provisions of their respective payment obligations in compliance with Section 10.3, and upon compliance by the Lessee with the other provisions of this Section 10, the obligation of the Lessee to pay Basic Rent hereunder for such Proposed Terminated Units shall cease with respect to any period after the Termination Date and the Lease Term for the Terminated Units shall end.

Appears in 1 contract

Samples: Lease Agreement (LSB Industries Inc)

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Termination of Lease. In the event of either (x) any -------------------- such sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units Equipment and full performance by Lessor and Lessee of their respective its payment obligations in compliance with Section 10.3, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall end.

Appears in 1 contract

Samples: Equipment Lease Agreement (Gatx Rail Corp)

Termination of Lease. In the event of either (x) any such -------------------- sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units and full performance by Lessor and Lessee of their respective payment obligations in compliance with Section 10.3, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall end.

Appears in 1 contract

Samples: Equipment Lease Agreement (General American Railcar Corp Ii)

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