Common use of Facility Closures Clause in Contracts

Facility Closures. The Agency shall use commercially reasonable efforts to give six months notice to Lender of Agency’s closure or sale of an Agency-owned building that contains Equipment subject to the Agreement. This Financing Agreement shall terminate as to all Equipment Groups for Equipment in the Facility upon closure or sale. The Agency shall pay within 60 days thereafter, the remaining Principal and interest as to such Equipment Groups unless Lender agrees to an assignment of such Financing Agreement.

Facility Closures. The Agency shall use commercially reasonable efforts to give six months notice to Lender of Agency’s closure or sale of an Agency-owned building that contains Equipment subject to the Agreement. This Financing Agreement shall terminate as to all Equipment Groups for Equipment in the Facility upon closure or sale. The Agency shall pay within 60 days thereafter, the remaining Principal and interest as to such Equipment Groups unless Lender ▇▇▇▇▇▇ agrees to an assignment of such Financing Agreement.