Acquisition of Possession Clause Samples

Acquisition of Possession. The Permitted Mortgagee shall, within twenty (20) days after notice of such default notify Landlord of its election to proceed with due diligence promptly to acquire possession of the Premises or to foreclose the Permitted Mortgage or otherwise to extinguish Tenant’s interest in this Lease.
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Acquisition of Possession. The Permitted Institutional Mortgagee shall, within sixty (60) days after notice of such Tenant non-monetary default, notify the Landlord of its election to proceed with due diligence promptly to acquire possession of the Premises or to foreclose the Permitted Institutional Mortgage or otherwise to obtain ownership of Tenant’s interest in this Lease. Such notice from the Permitted Institutional Mortgagee shall be accompanied by an instrument in writing wherein such Permitted Institutional Mortgagee agrees that: (A) during the period that such Permitted Mortgagee shall be in possession of the Premises and so long as it remains in possession and/or during the pendency of any such foreclosure or other proceedings and until the interest of Tenant in this Lease shall terminate or such proceeding shall be discontinued, it will pay or cause to be paid to the Landlord all sums from time to time becoming due hereunder during such period; and (B) if delivery of possession of the Premises shall be made to such Permitted Institutional Mortgagee, whether voluntarily or pursuant to any foreclosure or other proceedings or otherwise, such Permitted Institutional Mortgagee shall, promptly following such delivery of possession, perform all the covenants and agreements thereafter arising and herein contained on Tenant’s part to be performed (including, but not limited to the Affordability Commitments and the payment of Rent and Additional Rent) except such covenants and agreements which cannot with the exercise of due diligence be performed by such Permitted Institutional Mortgagee. Nothing in this subclause (B) shall be construed to require such Permitted Institutional Mortgagee to perform any of the Tenant’s obligations hereunder accruing after such Permitted Institutional Mortgagee ceases to be in possession.
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Acquisition of Possession. The Permitted Mortgagee shall, within forty- five (45) days after receiving notice of such default, notify the Town of the Permitted Mortgagee's election to proceed with due diligence promptly to acquire possession of the Sublease Premises, to commence to cure such default or to foreclose the Permitted Mortgage or otherwise to extinguish Tenant's interest in this Sublease.
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Related to Acquisition of Possession

  • Transfer of Possession Possession of the Property shall be transferred to Purchaser at the time of Closing subject to the Permitted Encumbrances.

  • Surrender of Possession Upon the expiration or upon the sooner termination of this Lease, Tenant shall remove all of Tenant’s signs from the exterior of the Building and shall remove all of Tenant’s inventory, equipment, trade fixtures, furniture, supplies, wall decorations and other personal property (collectively, “Tenant’s FF&E”) from within the Leased Premises, including the Building and the Outside Areas, and shall vacate and surrender the Leased Premises, and all portions thereof, to Landlord broom clean and in good condition, reasonable wear and tear excepted. Tenant shall repair all damage to the Leased Premises, and all portions thereof, caused by Tenant’s removal of Tenant’s property. Tenant shall patch and refinish, to Landlord’s reasonable satisfaction, all penetrations made by Tenant or its employees to the floor, walls or ceiling of the Leased Premises, whether such penetrations were made with Landlord’s approval or not. Tenant shall repair or replace all stained or damaged ceiling tiles, wall coverings and floor coverings to the reasonable satisfaction of Landlord. Tenant shall repair all damage caused by Tenant to the exterior surface of the Building and the paved surfaces of the Outside Areas and, where necessary, replace or resurface same. Additionally, to the extent that Landlord shall have notified Tenant in writing at the time Landlord approved any improvements requiring Landlord approval that it desired to have such improvements removed at the expiration or sooner termination of the Lease (“Required Removables”), Tenant shall, upon the expiration or sooner termination of the Lease, remove the Required Removables and repair all damage caused by such removal. If Tenant fails to comply with the terms of this P▇▇▇▇▇▇▇▇ ▇.▇, ▇▇▇▇▇▇▇▇ may perform Tenant’s obligations at Tenant’s expense, and Tenant shall be liable to Landlord for all reasonable costs incurred by Landlord in performing such obligations for Tenant (including, without limitation, reasonable costs of Landlord’s oversight of removal, repair and replacement work). Tenant shall pay to Landlord the amount of all costs so incurred within fifteen (15) days of Landlord’s delivery to Tenant of an invoice together with reasonable supporting information. Tenant shall indemnify Landlord against loss or liability resulting from delay by Tenant in surrendering the Leased Premises, including, without limitation, any claims made by any succeeding tenant or any losses to Landlord with respect to lost opportunities to lease to succeeding tenants.

  • Delivery of Possession Landlord shall be deemed to have delivered possession of the Premises to Tenant on the Commencement Date, as it may be adjusted pursuant to the Workletter. Landlord shall construct or install in the Premises the improvements to be constructed or installed by Landlord according to the Workletter. If no Workletter is attached to this Lease, it shall be deemed that Landlord delivered to Tenant possession of the Premises "as is" in its present condition on the Commencement Date. Tenant acknowledges that neither Landlord nor its agents or employees have made any representations or warranties as to the suitability or fitness of the Premises for the conduct of Tenant's business or for any other purpose, nor has Landlord or its agents or employees agreed to undertake any alterations or construct any Tenant improvements to the Premises except as expressly provided in this Lease and the Workletter. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the Commencement Date, this Lease will not be void or voidable, Landlord will not be liable to Tenant for any resulting loss or damage and the Term of this Lease shall not be extended by a delayed delivery of possession. The preceding sentence notwithstanding, if Landlord fails to deliver possession to Tenant within sixty (60) days after the Commencement Date for any reason other than a Delay Caused by Tenant, as defined in the Workletter, Tenant, as its sole remedy, shall have the right to terminate this Lease and receive a refund of all prepaid Rent and Security Deposits provided Tenant gives written notice of termination to Landlord within three (3) days after that date. Tenant will execute the Commencement Date Certificate attached to this Lease as Exhibit E, appropriately completed, within fifteen (15) days of Landlord's request.

  • LOCATION AND DESCRIPTION OF THE PROPERTY The subject property is a four-bedroom condominium with two car parking bays bearing postal address of C-33A-09, Residensi Bayan Desa Petaling, ▇▇. ▇▇▇, ▇▇▇▇▇ ▇/▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇. The subject property will be sold on an “as is where is basis” and subject to a reserve price of RM630,000.00 (RINGGIT MALAYSIA SIX HUNDRED THIRTY THOUSAND ONLY) and subject to the Conditions of Sale and by way of an Assignment from the above Assignee/Bank subject to the consent being obtained by the Purchaser from the Developer and other relevant authorities if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the Developer and the relevant authorities. Any arrears of quit rent, assessments and service or maintenance charges which may be lawfully due to any relevant authority or the Developer up to the date of auction sale of the property shall be paid out of the purchase money upon receipt of full purchase price. All other fees, costs and charges relating to the transfer and assignment of the property shall be borne by the successful Purchaser. Online bidders are further subject to the Terms & Conditions on ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. All intending bidders are required to deposit 10% of the fixed reserve price for the said property by Bank Draft or Cashier‟s Order in favour of UOBM for ▇▇▇ ▇▇▇▇ ▇▇▇▇ or remit the same through online banking transfer, one (1) working day before auction date. The balance of the purchase money shall be paid by the Purchaser within one hundred and twenty (120) days from the date of auction sale to UNITED OVERSEAS BANK (MALAYSIA) BHD via Real Time Electronics Transfer of Funds and Securities (▇▇▇▇▇▇). For online bidders please refer to the Terms & Conditions on ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ on the manner of payment of the deposit. FOR FURTHER PARTICULARS, please contact M/S ▇▇▇ ▇▇▇▇▇▇▇ & Partners, of 27th Floor, Menara KH, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇. (Ref No.: KW/298-154/2023/UOB/LFY, Tel No.: ▇▇-▇▇▇▇▇▇▇▇, Fax No.: ▇▇-▇▇▇▇▇▇▇▇) the Assignee herein or the undermentioned Auctioneer. Suite C-20-3A, Level 20, Block C, Megan Avenue II, / ▇▇▇▇▇ ▇▇▇▇▇ BIN ▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇, 50450 Kuala Lumpur (Licensed Auctioneers) Tel No.: ▇▇-▇▇▇▇ ▇▇▇▇ Fax No.: ▇▇-▇▇▇▇ ▇▇▇▇ Our Ref: AZWA/UOB0859/NHP(2) Website: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ E-mail: ▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Dalam menjalankan ▇▇▇ ▇▇▇ kuasa ▇▇▇▇ telah diberikan kepada Pihak Pemegang Serahhak/Bank dibawah Perjanjian Pinjaman, Suratikatan Penyerahanhak ▇▇▇ Surat Kuasa Wakil kesemuanya bertarikh 28hb November, 2017 diantara Pihak Penyerahhak, Pihak Pelanggan ▇▇▇ Pihak Pemegang Serahhak/Bank yang diperbuat dalam perkara diatas, adalah dengan ini diisytiharkan bahawa Pihak Pemegang Serahhak/Bank tersebut dengan bantuan Pelelong yang tersebut dibawah.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on