Common use of No Right to Terminate Clause in Contracts

No Right to Terminate. Notwithstanding the provisions of Section 18, CALTRANS will not have the right to terminate this LEASE or re-enter the PROPERTY by reason of a default by LESSEE that is reasonably susceptible of cure by LEASEHOLD LENDER, during the period specified in Section 21.3.4 in which a LEASEHOLD LENDER is entitled to cure a default by LESSEE, as long as: 21.3.5.1 all monetary defaults have been cured; 21.3.5.2 in the case of a non-monetary default, a LEASEHOLD LENDER will have notified CALTRANS within sixty (60) days after receipt of notice of default from CALTRANS of its intention to cure and such LEASEHOLD LENDER thereafter prosecutes the same to completion with reasonable diligence and continuity prior to the expiration of such LEASEHOLD LENDER’s cure period specified in Section 21.3.4; 21.3.5.3 if possession of the PROPERTY is required in order to cure the default in question, a LEASEHOLD LENDER (i) will have entered into possession of the PROPERTY with the permission of LESSEE for such purpose or (ii) will have notified CALTRANS of its intention to institute foreclosure proceedings and will have instituted foreclosure proceedings, to obtain possession directly or through a receiver, in each case within sixty (60) days after receiving from CALTRANS a copy of a default notice, and thereafter prosecutes such proceedings with reasonable diligence and continuity or receives an assignment of this Lease in lieu of foreclosure from LESSEE, and, upon obtaining possession pursuant to clause (i) or clause (ii) above, commences promptly to cure the default in question and prosecutes the same to completion with reasonable diligence and continuity and within the time frames set out in Section 21.3.4; and 21.3.5.4 a LEASEHOLD LENDER will have proceeded pursuant to this Section and, during the period specified in Section 21.3.4, such default is cured; provided, that, in each case the LEASEHOLD LENDER will have delivered to CALTRANS its non-binding notice of intention to take the action described in subparagraphs 21.3.5.2 or 21.3.5.3, and that during the period in which such action is being taken (and any foreclosure or sale under power proceedings are pending), all rent is paid when due. Notwithstanding the foregoing, at any time after the delivery of the aforementioned notice of intention, the LEASEHOLD LENDER may notify CALTRANS, in writing, that it has relinquished possession of the PROPERTY or that it will not institute foreclosure proceedings or, if such proceedings have been commenced, that it has discontinued them, in which case CALTRANS may immediately terminate this LEASE. For all purposes of this LEASE, the term “foreclosure proceedings” will include, in addition to proceedings to foreclose a trust deed or exercise a power of sale thereunder, where applicable, any foreclosure or similar proceedings commenced by a collateral assignee with respect to its collateral assignment.

No Right to Terminate. Notwithstanding any provision to the provisions of Section 18contrary, CALTRANS will Landlord shall not have the right to terminate this LEASE Lease or re-enter the PROPERTY Premises by reason of a default by LESSEE Tenant that is reasonably susceptible of cure by LEASEHOLD LENDERLeasehold Mortgagee, during the period specified in Section 21.3.4 12.3(d), above, in which a LEASEHOLD LENDER Leasehold Mortgagee is entitled to cure a default by LESSEETenant, as long as: 21.3.5.1 (i) all monetary defaults by Tenant under this Lease have been cured; 21.3.5.2 (ii) in the case of a non-monetary defaultdefault by Tenant under this Lease, a LEASEHOLD LENDER will Leasehold Mortgagee shall have notified CALTRANS Landlord within sixty forty-five (6045) days after receipt of notice of default from CALTRANS Landlord of its intention to cure and such LEASEHOLD LENDER Leasehold Mortgagee thereafter prosecutes the same to completion with reasonable diligence and continuity prior to the expiration of such LEASEHOLD LENDER’s Leasehold Mortgagee's cure period specified in Section 21.3.4;12.3(d);‌‌‌ 21.3.5.3 (iii) if possession of the PROPERTY Premises is required in order to cure the default in question, a LEASEHOLD LENDER Leasehold Mortgagee (iA) will shall have entered into possession of the PROPERTY Premises with the permission of LESSEE Tenant for such purpose purpose, or (iiB) will shall have notified CALTRANS Landlord of its intention to institute foreclosure proceedings and will shall have instituted foreclosure proceedings, to obtain possession directly or through a receiver, in each case within sixty (60) days after receiving from CALTRANS Landlord a copy of a default notice, and thereafter prosecutes such proceedings with reasonable diligence and continuity or receives an assignment of this Lease in lieu of foreclosure from LESSEETenant, and, upon obtaining possession pursuant to clause (iA) or clause (iiB) above, commences promptly to cure the default in question and prosecutes the same to completion with reasonable diligence and continuity and within the time frames set out in Section 21.3.412.3(d); andor 21.3.5.4 a LEASEHOLD LENDER will (iv) if Leasehold Mortgagee shall have proceeded pursuant to this Section 12.3(e) and, during the period specified in Section 21.3.412.3(d), such default by Tenant under this Lease is cured; provided, that, in each case the LEASEHOLD LENDER will Leasehold Mortgagee shall have delivered to CALTRANS Landlord its non-binding notice of intention to take the action described in subparagraphs 21.3.5.2 (ii) or 21.3.5.3(iii) of this Section 12.3(e), and that during the period in which such action is being taken (and any foreclosure or sale under power proceedings are pending), all rent Base Rent, Percentage Rent and Additional Rent is paid when due. Notwithstanding the foregoing, at any time after the delivery of the aforementioned notice of intention, the LEASEHOLD LENDER Leasehold Mortgagee may notify CALTRANSLandlord, in writing, that it has relinquished possession of the PROPERTY Premises or that it will not institute foreclosure proceedings or, if such proceedings have been commenced, that it has discontinued them, in which case CALTRANS Landlord may immediately terminate this LEASELease (a "Leasehold Mortgagee Termination Waiver"). For all purposes of this LEASELease, the term “"foreclosure proceedings” will " shall include, in addition to proceedings to foreclose a trust deed or exercise a power of sale thereundermortgage, where applicable, any foreclosure or similar proceedings commenced by a collateral assignee with respect to its collateral assignment.

No Right to Terminate. Notwithstanding the provisions of Section 18Article 20, CALTRANS will Landlord shall not have the right to terminate this LEASE Lease under Article 20, or re-enter the PROPERTY Property Portfolio by reason of a default by LESSEE Tenant that is reasonably susceptible of cure by LEASEHOLD LENDERLeasehold Mortgagee, during the period specified in Section 21.3.4 24.3(d) in which a LEASEHOLD LENDER Leasehold Mortgagee is entitled to cure a default by LESSEETenant, as long as: 21.3.5.1 all (i) All monetary defaults have been cured; 21.3.5.2 (ii) in the case of a non-monetary default, a LEASEHOLD LENDER will Leasehold Mortgagee shall have notified CALTRANS Landlord within sixty (60) days after receipt of notice of default from CALTRANS Landlord of its intention to cure and such LEASEHOLD LENDER Leasehold Mortgagee thereafter prosecutes the same to completion with reasonable diligence and continuity prior to the expiration of such LEASEHOLD LENDERLeasehold Mortgagee’s cure period specified in Section 21.3.424.3(d); 21.3.5.3 (iii) if possession of the PROPERTY an Individual Property is required in order to cure the default in question, a LEASEHOLD LENDER Leasehold Mortgagee (iA) will shall have entered into possession of the PROPERTY applicable Individual Property with the permission of LESSEE Tenant for such purpose or (iiB) will shall have notified CALTRANS Landlord of its intention to institute foreclosure proceedings and will shall have instituted foreclosure proceedings, to obtain possession directly or through a receiver, in each case within sixty (60) days after receiving from CALTRANS Landlord a copy of a default notice, and thereafter prosecutes such proceedings with reasonable diligence and continuity or receives an assignment of this Lease in lieu of foreclosure from LESSEETenant, and, upon obtaining possession pursuant to clause (iA) or clause (iiB) above, commences promptly to cure the default in question and prosecutes the same to completion with reasonable diligence and continuity and within the time frames set out in Section 21.3.424.3(d); andor 21.3.5.4 (iv) if a LEASEHOLD LENDER will Leasehold Mortgagee shall have proceeded pursuant to this Section 24.3(e) and, during the period specified in Section 21.3.424.3(d), such default is cured; provided, that, in each case the LEASEHOLD LENDER will Leasehold Mortgagee shall have delivered to CALTRANS Landlord its non-binding notice of intention to take the action described in subparagraphs 21.3.5.2 (ii) or 21.3.5.3(iii) of this Section 24.3(e), and that during the period in which such action is being taken (and any foreclosure or sale under power proceedings are pending), all rent Fixed Annual Rent and Additional Rent (exclusive of any amounts due from Tenant pursuant to Section 20.3) is paid when due. Notwithstanding the foregoing, at any time after the delivery of the aforementioned notice of intention, the LEASEHOLD LENDER Leasehold Mortgagee may notify CALTRANSLandlord, in writing, that it has relinquished possession of the PROPERTY applicable Individual Property or that it will not institute foreclosure proceedings or, if such proceedings have been commenced, that it has discontinued them, in which case CALTRANS Landlord may immediately terminate this LEASELease. For all purposes of this LEASELease, the term “foreclosure proceedings” will shall include, in addition to proceedings to foreclose a trust deed or exercise a power of sale thereundermortgage, where applicable, any foreclosure or similar proceedings commenced by a collateral assignee with respect to its collateral assignment.