No Obligation to Continue. The Permitted Mortgagee shall not be obligated to continue any action or proceeding to acquire the Leasehold Estate, and may abandon such at any time in its sole discretion. If the Permitted Mortgagee abandons any effort to acquire the Leasehold Estate while an Event of Default exists hereunder, then this Lease shall terminate upon ten (10) days’ notice of such termination from District.
Appears in 2 contracts
Sources: First Source Agreement, Ground Lease