Common use of Baseline Conditions Clause in Contracts

Baseline Conditions. Each Subsidiary Guarantor shall at all times comply with the Baseline Conditions in all material respects and in the event any Subsidiary Guarantor fails, at any time, to comply with any of the Baseline Conditions in any material respect, such Subsidiary Guarantor shall (i) notwithstanding any provision of this Agreement to the contrary, cease to be an Obligated Property Owner for all purposes of this Agreement, and (ii) continue as a Subsidiary Guarantor unless released as provided in Section 10.10(d) (it being understood that the provisions of clause (i) and (ii) shall be the sole consequences to Kimco and the Subsidiary Guarantors of a Subsidiary Guarantor’s failure to comply with the Baseline Conditions).