Common use of Absolute Net Lease Clause in Contracts

Absolute Net Lease. It is the purpose and intent of Landlord and Tenant that the rent herein above provided to be paid to Landlord by Tenant be absolutely net to Landlord so that this Lease shall yield net to Landlord without abatement, set-off or deduction therefrom the rent as herein above provided, to be paid during the Term of this Lease or any extensions hereof, and, that all costs, expenses, and impositions of every kind or nature whatsoever relating to the Premises, the use thereof, the maintenance thereof, the operation thereof, the management thereof, or otherwise which may arise or become due during the Term of this Lease or any extensions hereof be paid by Tenant, and Landlord be indemnified and saved harmless by Tenant from and against the same. Tenant hereby assumes and agrees to perform all duties and obligations with relation to the Premises, as well as the use, operation, management, and maintenance thereof even though such duties and obligations would otherwise be construed to be those of the Landlord. Nothing herein contained, however, shall be deemed to require Tenant to pay or discharge any liens or mortgages of any character, whatever which may be placed upon the Premises by the affirmative act of Landlord. Except as expressly set forth in this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease for any cause whatsoever, any present or future law to the contrary notwithstanding. Tenant agrees that it will remain obligated under this Lease in accordance with its terms notwithstanding any action, which may be taken with respect to this Lease by any trustee or receiver of Landlord in any bankruptcy or similar proceeding.

Absolute Net Lease. It This Lease is an "absolute net lease," and the purpose Lessee's obligations to make Lease Payments as provided in Section 7.1 of this Lease, to pay Additional Rent AS provided in Section 7.2 of this Lease, and intent to perform and observe all other covenants and agreements of Landlord the Lessee contained herein shall be absolute and Tenant that unconditional, and the rent herein above failure by the Lessee to make such Lease Payments and to pay Additional Rent at the times and in the amounts as provided to in Sections 7.1 and 7.2 hereof shall constitute an Event of Default under this Lease. All Lease Payments shall be paid to Landlord by Tenant be absolutely net to Landlord so that this Lease shall yield net to Landlord made without notice or demand and without setoff, counterclaim, abatement, setdeduction or defense whatsoever. Following Substantial Completion, notwithstanding the Lessor's obligation to complete punch-off or deduction therefrom the rent as herein above provided, to be paid during the Term of this Lease or any extensions hereof, and, that all costs, expenses, and impositions of every kind or nature whatsoever relating to the Premiseslist items, the use thereofLessee shall assume the sole responsibility for the condition, the maintenance thereof, the operation thereof, the management thereof, or otherwise which may arise or become due during the Term of this Lease or any extensions hereof be paid by Tenant, and Landlord be indemnified and saved harmless by Tenant from and against the same. Tenant hereby assumes and agrees to perform all duties and obligations with relation to the Premises, as well as the use, operation, managementmaintenance, repair and management of the Leased Premises, and maintenance thereof even though such duties Lessee will, at its cost and obligations would otherwise expense, keep and maintain the Leased Premises in good repair and condition and in compliance with all applicable laws, rules, regulations, statutes, and ordinances, and will make all structural and nonstructural, and ordinary and extraordinary changes, repairs and replacements which may be required to be made upon or in connection with the Leased Premises in order to keep the same in good repair and condition, reasonable wear and tear and ordinary use excepted; provided, however, that nothing herein shall be construed to be those release the Lessor from completion of the Landlordpunch-list items, and if the Lessor should fail to complete the punch-list items within a reasonable time, the Lessee may institute such legal action against the Lessor as the Lessee may deem necessary to compel the performance of such obligation or to recover damages therefore. Nothing herein contained, however, shall be deemed to require Tenant to pay or discharge any liens or mortgages of any character, whatever which may be placed upon the Premises by the affirmative act of Landlord. Except as expressly set forth Notwithstanding anything in this LeaseLease to the contrary, this Lease Lessee shall not terminate, nor shall Tenant have any right no obligations to terminate this Lease indemnify Lessor for any cause whatsoeverclaims, any present loss, liabilities or future law to damages arising from the contrary notwithstanding. Tenant agrees that it will remain obligated under this Lease in accordance with negligence or willful misconduct of Lessor, its terms notwithstanding any action, which may be taken with respect to this Lease by any trustee employees or receiver of Landlord in any bankruptcy or similar proceedingagents.

Absolute Net Lease. It is the purpose and intent of Landlord and Tenant that the rent herein above provided to be paid to Landlord by Tenant All Rent payments shall be absolutely net to Landlord, free of any and all Taxes, Other Charges, and operating or other expenses of any kind whatsoever, all of which shall be paid by Tenant. Tenant shall continue to perform its obligations under this Master Lease even if Tenant claims that it has been damaged by Landlord so that or has indebtedness owing from Landlord. Thus, Tenant shall at all times remain obligated under this Master Lease without any right of setoff, counterclaim, abatement, deduction, reduction or defense of any kind. Tenant’s sole right to recover damages against Landlord under this Master Lease shall yield be to prove such damages in a separate action. Landlord and Tenant agree that unless otherwise expressly set forth in this Master Lease, Tenant shall be solely responsible for any and all costs associated with the operation, repair, maintenance and replacements of the Premises, including without limitation, Taxes as set forth below. Except as otherwise provided herein to the contrary, the Rent shall be complete and absolute net rent to Landlord, and during the entire term of this Master Lease, including any Renewal Term, Landlord shall have no cost, obligation, responsibility or liability whatsoever for repairing, maintaining, operating or owning the Premises. The parties acknowledge and agree that Landlord would not enter into this Master Lease if the Rent described in this Master Lease were not completely and absolutely net to Landlord or if Landlord were to incur any liability whatsoever, foreseen or unforeseen, with respect to the Premises or any portion thereof, or Tenant’s exercise of any other of its rights under this Master Lease. Accordingly, except as expressly and specifically provided otherwise herein, Tenant shall pay all expenses, costs, taxes, fees and charges of any nature whatsoever arising in connection with or attributable to the Premises, during the term of this Master Lease or in any manner whatsoever arising as a result of Tenant’s exercise of, or Landlord’s grant of, the rights described in this Master Lease, including, without abatementlimitation, all fees of Tenant’s consultants (provided Landlord shall pay its own broker fees incurred with any Lease renewals, if any), intangible personal property taxes, ad valorem real estate taxes, franchise taxes and excise taxes, Tenant’s accounting and attorney’s fees, costs of any financing obtained by Tenant, costs of any leasehold title insurance policy obtained by Tenant, utility charges and insurance premiums. During the term of this Master Lease, Tenant shall pay all rent and all other charges due under this Master Lease without notice or demand and without any deductions, set-off offs, counterclaims, abatements, suspensions or deduction therefrom defenses of any kind. It is the rent as herein above providedintention of the parties that the obligations of Tenant shall be separate and independent covenants, that the Rent, and all other charges payable by Tenant shall continue to be paid during payable in all events, unless otherwise expressly provided herein, and that the Term obligations of Tenant shall continue unaffected unless the requirement to pay or perform the same shall have been terminated or modified pursuant to an express provision of this Master Lease, and Tenant shall have no right to terminate this Master Lease as a result of any breach, default or failure by Landlord hereunder, provided that Tenant may, at its election and upon written notice to Landlord terminate this Master Lease with respect to any extensions hereofFacility if Landlord, andwith respect to such Facility, materially defaults hereunder in a manner that adversely impairs the Tenant’s business operations or renders the Premises untenantable, and if Landlord fails to cure such default within thirty days after Tenant provides written notice thereof to Landlord or such longer period which is reasonably necessary for Landlord to cure such default. Upon such failure, this Master Lease shall be deemed terminated as to such Facility, and Minimum Rent, Additional Rent and Other Charges due hereunder shall be the product of (x) the amount of the then-current Minimum Rent and Additional Rent, and (y) a fraction, the numerator of which is the amount allocated to such Facility under Exhibit G attached hereto, and the denominator of which is the aggregate amount shown on said Exhibit G for all Facilities. No such adjustment shall have the effect of limiting the obligations of Tenant under this Master Lease for Taxes or, utilities, landlord expenses or Other Charges incurred prior to the date of termination. Tenant shall pay and be responsible to Landlord for all costs, expenses, obligations, liabilities and impositions of every kind or nature whatsoever relating acts necessary to and for the Premises, the use thereof, the maintenance thereof, the operation thereof, the management thereof, or otherwise which may arise or become due during the Term of this Lease or any extensions hereof be paid by Tenant, and Landlord be indemnified and saved harmless by Tenant from and against the same. Tenant hereby assumes and agrees to perform all duties and obligations with relation to the Premises, as well as the proper use, operation, managementmaintenance, care and maintenance thereof even though such duties and obligations would otherwise be construed to be those occupancy of the Landlord. Nothing herein contained, however, shall be deemed to require Tenant to pay or discharge any liens or mortgages of any character, whatever which may be placed upon the Premises by the affirmative act of LandlordPremises. Except as otherwise expressly set forth provided in this Master Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease for any cause whatsoever, any present waives all rights now or in the future conferred by law to quit, terminate or surrender this Master Lease or the contrary notwithstanding. Tenant agrees that it will remain obligated Premises or to any abatement, suspension, deferment, or reduction of the Rent, or any other charges and under this Lease in accordance with its terms Master Lease. In addition, notwithstanding any actionprovision in this Master Lease to the contrary, which may be taken with respect Tenant’s payment obligation to this Lease by Landlord shall also include all Taxes or any trustee other charges or receiver of Landlord in any bankruptcy or similar proceedingexpenses that accrue after the Effective Date.

Absolute Net Lease. It is the purpose and intent of Landlord and Tenant that the rent herein above provided to be paid to Landlord by Tenant All Rent payments shall be absolutely net to Landlord so that this Lease shall yield net to Landlord without abatementthe Lessor free of taxes, set-off assessments, utility charges, operating expenses, refurnishings, insurance premiums or deduction therefrom any other charge or expense in connection with the rent Properties. Except as herein above providedotherwise provided herein, all expenses and charges whether capital or to be paid during the Term of this Lease or any extensions hereofexpensed, andwhether for upkeep, that all costsmaintenance, expensesrepair, refurnishing, refurbishing, restoration, replacement, insurance premiums, taxes, utilities, and impositions other operating or other charges of every kind a like nature or nature whatsoever relating to the Premisesotherwise, the use thereof, the maintenance thereof, the operation thereof, the management thereof, or otherwise which may arise or become due during the Term of this Lease or any extensions hereof shall be paid by TenantLessee. This Section 5.01 is not in derogation of the specific provisions of this Lease, but in expansion thereof and Landlord be indemnified and saved harmless by Tenant from and against as an indication of the samegeneral intentions of the parties hereto. Tenant hereby assumes and agrees to perform all duties and obligations with relation Any present or future law to the Premises, as well as the use, operation, management, and maintenance thereof even though such duties and obligations would otherwise be construed to be those of the Landlord. Nothing herein contained, however, shall be deemed to require Tenant to pay or discharge any liens or mortgages of any character, whatever which may be placed upon the Premises by the affirmative act of Landlord. Except as expressly set forth in this Leasecontrary notwithstanding, this Lease shall not terminate, nor shall Tenant have Lessee be entitled to any right abatement, suspension, deferment, reduction, setoff, counterclaim, or defense with respect to terminate this Lease any part of the total Rent, nor shall the obligations of Lessee hereunder be otherwise affected, by reason of: (1) any defect in the condition, merchantability, design, construction, quality or fitness for use of the Properties or any cause whatsoeverpart thereof, or the failure of the Properties to comply with any present Applicable Laws, including any inability to occupy or future law use any such Properties by reason of such non-compliance; (2) any damage to, removal, abandonment, salvage, loss, contamination of or release from, scrapping or destruction of or any requisition or taking of any portion of the Properties or any part thereof; (3) any restriction, prevention or curtailment of or interference with the construction on or any use or any portion of the Properties or any part thereof including eviction; (4) any defect in title to or rights to any portion of the contrary notwithstanding. Tenant agrees that it will remain obligated under this Lease in accordance with its terms notwithstanding Properties or any actionlien on such title or rights or on any portion of the Properties; (5) any change, which may be waiver, extension, or indulgence by Lessor or any Mortgagee; (6) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceedings relating to Lessor, Lessee or any other person, or any action taken with respect to this Lease by any trustee or receiver of Landlord Lessor, Lessee, or any other person, or by any court, in any bankruptcy such proceeding; (7) any claim that Lessee has or might have against any person, including without limitation any Lessor, any Mortgagee, or any vendors, manufacturer, contractor of or for any portion of the Properties; (8) any failure on the part of any Lessor to perform or comply with any of the terms of this Lease or of any other agreements; (9) any invalidity or unenforceability or illegality or disaffirmance of this Lease or any provision thereof or hereof against or by Lessor or Lessee or of any document of instrument executed in connection with this Lease or by the parties thereto; (10) the impossibility or illegality of performance by any Lessor or Lessee; (11) any action by any court, administrative agency or other governmental authority; (12) any other cause or circumstances whether similar proceedingor dissimilar to the foregoing and whether or not Lessor or Lessee shall have notice of or knowledge of any of the foregoing. The obligations of Lessee under this Lease shall continue to be payable in all events unless such obligations shall be terminated pursuant to the express provisions of this Lease. Lessee shall continue to perform its obligations under this Lease even if Lessee claims that Lessee has been damaged by any act or omission of any Lessor. Therefore, except as otherwise provided by the express terms of this Lease, Lessee shall at all times remain obligated to pay Rent under this Lease without any right of set-off, counterclaim, abatement, deduction, reduction or defense of any kind. Lessee’s sole right to recover damages or assert claims against Lessor by reason of a breach or alleged breach of Lessor’s obligations under this Lease shall be to prove such damages or claims in a separate cause of action against Lessor, provided that it is understood that Lessee retains and shall be permitted in such action to assert all claims arising as a result of Lessor’s acts, omissions or defaults, including but not limited to any claim that Lessor materially adversely affected Lessee’s use or occupancy of a Property, so long as Lessee continues to pay Rent and perform its obligations under the Lease as set forth in this Section 5.01.

Absolute Net Lease. It is the purpose and intent of Landlord and Tenant that the rent herein above Rent hereinabove provided to be paid to Landlord by Tenant be absolutely net to Landlord so that this Lease shall yield net to Landlord without abatement, set-off or deduction therefrom the rent Rent as herein above hereinabove provided, to be paid during the Term of this Lease or any extensions hereof, and, that all costs, expenses, and impositions of every kind or nature whatsoever relating to the Premises, the use thereof, the maintenance thereof, the operation thereof, the management thereof, or otherwise Premises which may arise or become due during the Term of this Lease or any extensions hereof (including, without limitation, pursuant to the Covenants and Agreements) be paid by Tenant, and Landlord be indemnified indemnified, defended and 5 saved harmless by Tenant from and against the same. Tenant hereby assumes and agrees to perform all duties and obligations with relation to the Premises, as well as the use, operation, management, and maintenance thereof even though such duties and obligations would otherwise be construed to be those of the Landlord. Nothing herein contained, however, shall be deemed to require Tenant to pay or discharge any franchise taxes imposed on Landlord or income taxes imposed upon Landlord or liens or mortgages of any character, character whatever which may be placed upon the Premises by the affirmative act of Landlord, or the costs and expenses incurred by Landlord in connection with any sale of the Premises. Except as expressly Furthermore, nothing herein shall release or relieve Landlord from its warranty obligations with respect to the Landlord's Work set forth in this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease for any cause whatsoever, any present or future law to the contrary notwithstanding. Tenant agrees that it will remain obligated under this Lease in accordance with its terms notwithstanding any action, which may be taken with respect to this Lease by any trustee or receiver of Landlord in any bankruptcy or similar proceedingExhibit C attached hereto.

Absolute Net Lease. It is the purpose and intent of Landlord and Tenant intended that the rent herein above provided to Annual Rent shall be paid an absolutely net return to Landlord by Tenant be absolutely net to Landlord so that this Lease shall yield net to Landlord without abatement, set-off or deduction therefrom the rent as herein above provided, to be paid during throughout the Term of this Lease, free of any expense, charge, or other deduction whatsoever with respect to the Premises or Landlord’s interest therein, or the ownership, leasing, operation, management, maintenance, repair, use or occupation thereof. This Lease is an “absolute lease” and Tenant’s obligations arising or accruing during the Term to pay all Annual Rent, additional rent and all other payments hereunder required to be made by Tenant shall be absolute and unconditional and Tenant shall pay all such amounts without notice, demand, counterclaim, set-off, deduction or defense and without abatement, suspension, deferment, diminution or reduction (except as otherwise expressly provided in this Lease), free from any extensions hereofcharges, andassessments, that all impositions, expenses or deductions of any and every kind or nature whatsoever. All costs, expenses, expenses and impositions obligations of every kind or and nature whatsoever relating to the PremisesProperty and the appurtenances thereto and the use, the use thereof, the maintenance thereof, the operation thereof, the management thereof, or otherwise and occupancy thereof which may arise or become due during and payable with respect to the Term (whether or not the same shall become payable during such Term or thereafter) or for any period prior to the expiration of this Lease or any extensions hereof the Term shall be paid by Tenant, and Landlord be indemnified and saved harmless by Tenant from and against the same(except as otherwise expressly provided in this Lease). Tenant hereby assumes and agrees to perform all duties and obligations with relation to the Premisessole responsibility for the condition, as well as the use, operation, managementmaintenance, underletting and management of the Premises, and maintenance Landlord shall have no responsibility in respect thereof even though such duties and obligations would otherwise be construed shall have no liability for damage to be those Tenant’s personality or any subtenant of the Landlord. Nothing herein contained, however, shall be deemed to require Tenant to pay on any account or discharge for any liens or mortgages of any character, whatever which may be placed upon the Premises by the affirmative act of Landlordreason whatsoever. Except as otherwise expressly set forth provided for in this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate terminate, rescind or void this Lease or to be released or discharged from any obligations or liabilities hereunder for any cause whatsoeverreason, including, without limitation: (i) any damage to or destruction of the Premises; (ii) any restriction, deprivation (including eviction) or prevention of, or any interference with, any present use or future law the occupancy of the Premises; (iii) any condemnation, requisition or other taking or sale of the use, occupancy or title of or to the contrary notwithstandingPremises; (iv) any action, omission or breach on the part of Landlord under this Lease or under any other agreement between Landlord and Tenant; or (v) the inadequacy or failure of the description of the Premises to demise and let to Tenant the property intended to be leased hereby. Tenant agrees that it will remain obligated under this Lease in accordance with its terms notwithstanding terms, and will not take any actionaction to terminate, which may be taken rescind or void this Lease as a result of any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of Landlord, or any action with respect to this Lease which may be taken by any receiver, trustee or receiver of Landlord in liquidator or by any bankruptcy or similar proceedingcourt.

Absolute Net Lease. It is the purpose This Lease shall be deemed and intent of Landlord and Tenant that the rent herein above provided construed to be paid to Landlord by Tenant be a bond lease, absolutely net to Landlord so that this Lease Landlord, and Tenant shall yield pay to Landlord, absolutely net to Landlord throughout the Term, the Rent, free of any charges, assessments, impositions or deductions of any kind and without abatement, deduction or set-off whatsoever. Under no circumstances or deduction therefrom conditions, whether now existing or hereafter arising, or whether beyond the rent present contemplation of the parties, shall Landlord be expected or required to make any payment of any kind whatsoever or be under any other express or implied obligation or liability hereunder, except as herein above provided, to be paid during the Term of otherwise expressly set forth in Section 3.5 or otherwise in this Lease and Tenant hereby waives all Applicable Laws and Requirements to the contrary. Tenant shall pay (or any extensions hereof, and, that shall cause the Operating Subtenants to pay) all costs, expenses, expenses and impositions charges of every kind or and nature whatsoever relating to the PremisesPremises from and after the Commencement Date, the use thereofincluding, the maintenance thereofwithout limitation, the operation thereofall taxes, the management thereofcosts of improvements, maintenance, repairs, alterations, additions, replacements, condominium association assessments and other condominium association charges, and insurance and other Impositions, and all escrows, reserves and/or deposits relating thereto, except debt service (principal, interest and any required mortgage insurance premium (“MIP”)) on any Mortgage or otherwise any other indebtedness of Landlord or any rent or other charges under any Superior Lease, which may arise or become due or payable prior to, during or after (but attributable to a period falling within) the Term Term. Unless otherwise expressly provided in this Lease, Tenant’s obligation to pay Rent hereunder shall not terminate prior to the actual date contemplated by Landlord and Tenant and specifically set forth in Article A, Section 2(c) for the expiration of this Lease the Term, notwithstanding the exercise by Landlord of any or all of its rights under Article 12 hereof or otherwise and the obligations of Tenant hereunder shall not be affected by reason of: any damage to or destruction of the Premises or any extensions hereof be paid part thereof, any Taking of the Premises or any part thereof or interest therein by condemnation or otherwise, any prohibition, interruption, limitation, restriction or prevention of Tenant’s or any Subtenant’s use, and Landlord be indemnified and saved harmless occupancy or enjoyment of the Premises or any part thereof, or any interference with such use, occupancy or enjoyment by Tenant from and against the same. Tenant hereby assumes and agrees to perform all duties and obligations with relation any person or for any reason, any matter affecting title to the Premises, as well as any eviction by paramount title or otherwise, any default by Landlord hereunder, the useimpossibility, operationimpracticability or illegality of performance by Landlord, managementTenant or both, and maintenance thereof even though such duties and obligations would otherwise be construed to be those any action of any Governmental Authority, Tenant’s acquisition of ownership of all or part of the Landlord. Nothing herein contained, however, Premises (unless this Lease shall be deemed terminated by a writing signed by all Persons, including any Mortgagee, having an interest in the Premises), any breach of warranty or misrepresentation, or any other cause whether similar or dissimilar to require the foregoing and whether or not Tenant shall have notice or knowledge thereof and whether or not such cause shall now be foreseeable. The parties intend that the obligations of Tenant under this Lease shall be separate and independent covenants and agreements and shall continue unaffected unless such obligations have been modified or terminated pursuant to pay or discharge any liens or mortgages an express provision of any character, whatever which may be placed upon the Premises by the affirmative act of Landlord. Except as expressly set forth in this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease for any cause whatsoever, any present or future law to the contrary notwithstanding. Tenant agrees that it will remain obligated under this Lease in accordance with its terms notwithstanding any action, which as may be taken with respect amended from time to this Lease by any trustee or receiver of Landlord in any bankruptcy or similar proceedingtime.