Additional Leases. In the event that Operator acquires any additional leases ("Additional Lease") other than the Subject Interests in the AMI Areas prior to Operator's satisfaction of Operator's drilling requirements in Section 2.01, Operator and Black Stone shall execute, acknowledge, and deliver an instrument that amends this Development Agreement so that such Additional Lease will be part of the Subject Interests and Subject Development Lands hereunder.
Additional Leases. (a) Grant a first-priority collateral assignment in favor of the Bank encumbering any additional Lease hereafter entered into by any Borrower or spread the lien of the Lease Assignments (for any additional Leases leasing property located in a jurisdiction in which a Lease Assignment has been recorded or filed and remains in effect) to such Lease, in each case pursuant to a form of Lease Assignment or spreader agreement approved by the Bank. The Lease Assignment or spreader shall be in recordable form and shall be recorded in the appropriate public or land records simultaneously with the recording of a short form or memorandum of such additional Lease; and (b) either cause any such additional Lease to include the following provisions or obtain the landlord's specific consent to the Bank containing the following provisions:
(i) that the tenant's interest in the Lease is freely assignable and that the landlord's consent is not required for the collateral assignment or other pledge of the tenant's interest in the lease to tenant's lender (the "Leasehold Mortgagee");
(ii) that the landlord agrees that any and all liens of the landlord against the Collateral for the payment of rent, whether statutory or otherwise, are automatically subject and subordinate to the security interest in the Collateral granted by the tenant in favor of the Leasehold Mortgagee;
(iii) that a short form or memorandum of the Lease in recordable form shall be executed by the parties and promptly recorded in the appropriate public or land records;
(iv) that the Lease shall not be subordinate to any mortgage placed on the landlord's interest in the lease premises unless the landlord's lender enters into a non-disturbance agreement with the tenant in form satisfactory to the tenant;
(v) that the landlord agrees (A) not to amend or modify the Lease or accept a surrender of the Lease without the Leasehold Mortgagee's written consent, which shall not be unreasonably withheld; (B) to notify the Leasehold Mortgagee in writing if the tenant fails to pay the required rent when due or otherwise commits a default under the Lease that would entitle the landlord to terminate the Lease; (C) to accept a cure of the tenant's default of offered by the Leasehold Mortgage within 30 days after the landlord's written notice to the Leasehold Mortgagee; and (D) to accept the Leasehold Mortgagee or its designee as the landlord's new tenant under the Lease if the Leasehold Mortgagee exercises its rights against th...
Additional Leases. Prior to the Closing, Buyer and Seller shall in good faith negotiate the terms of any leases of real property reasonably necessary to accommodate the operation of the Business by Buyer separate from the operations of Seller and its subsidiaries that are not part of MTG ( "Seller's Remaining Operations") and any leases of real property reasonably necessary to accommodate Seller and its subsidiaries in vacating the Real Property, on terms and conditions that are comparable to the terms and conditions of the appropriate analogous leases referred to in Section 6.15. Such leases shall include without limitation the following locations currently being used by the Business: the "Tech Center" in Madison Heights, Michigan, the Offenbach, Germany facility, the Santa Fe Springs facility and the Singapore facility.
Additional Leases. To the extent that there are any Additional Leases prior to Assignor’s satisfaction of Assignor’s drilling requirements in Section 2.01, such Additional Lease, without any further action hereunder, shall become part of the Subject Interests and Subject Development Lands hereunder at such time.
Additional Leases. In the event that Assignor acquires any additional lease ("Additional Lease") other than the Subject Interests in ---------------- the AMI Areas prior to Assignor's satisfaction of Assignor's drilling requirements in Section 2.01 of the Development Agreement, Assignor and Assignee shall execute, acknowledge, and deliver an instrument that amends this Conveyance so that such Additional Lease will be subject to the Term Royalty Interest and be part of the Subject Interests and Subject Lands hereunder.
Additional Leases. The Company shall not enter into any Lease or ----------------- related documents other than the Initial Leases, the related Operative Agreements and the Subleases without the prior written consent of each Lessor which is then a Beneficiary under this Agreement and unless each of the Rating Agencies, after giving effect to such transaction, shall have confirmed (x) their initial ratings with respect to any Rated Security and (y) that the Company entering into such Lease and related documents will not result in the lowering of their rating on any Rated Security.
Additional Leases. Set forth on Schedule 1.02 are descriptions of all outstanding offers (including, without limitation, a summary of lease bonus and all other acquisition costs and liabilities offered by Seller) as of the date of this Agreement by Seller to lessors for additional oil and gas leases on lands located within the boundaries of the map attached hereto as Exhibit M (the “Acquisition Area”) (collectively, the “Offered Leases”). During the Supplemental Acquisition Period (defined below), Seller will supplement Schedule 1.02 to identify additional offers made by Seller to lessors during the Supplemental Acquisition Period to acquire additional Offered Leases within the Acquisition Area. From and after the date of this Agreement and continuing until the date that is sixty (60) days after the Closing Date (as hereinafter defined) (the “Supplemental Acquisition Period”), if Seller acquires an Offered Lease prior to the expiration of the Supplemental Acquisition Period, then Seller shall provide Buyer with written notice of Seller’s acquisition of such additional Offered Leases prior to the expiration of the Supplemental Acquisition Period, and such notice shall contain: (A) copies of the Offered Lease(s) acquired (and any other conveyances into Seller covering such acquired Offered Leases), (B) any ownership and/or title opinions or reports covering the surface and/or mineral estates of the acreage leased, (C) a statement of the net mineral acres covered thereby, as well as the Net Revenue Interest and Working Interest attributable to such Offered Leases, and (D) a statement or summary of the pooling permitted under such Offered Lease. Buyer shall have ten (10) days after receipt of each such written notice to provide Seller with written response notice whether it elects to acquire any of such Offered Leases under the terms and conditions set forth in this Agreement (and if so, the same shall be deemed to be “Additional Leases”). Unless otherwise stipulated in the written notice from Seller to Buyer, Seller shall be deemed to have represented (and hereby represents) that all such Additional Leases cover lands located within the boundaries of the Acquisition Area. Buyer is under no obligation to acquire any Offered Leases. Except in connection with this Agreement, Seller shall not acquire any oil, gas, mineral fee, leasehold or derivative interest in any lands located within the Acquisition Area during the Supplemental Acquisition Period. To the extent that any Offered ...
Additional Leases. During the Agency Period, Agent agrees to purchase Leases only in the Designated Area, in addition to the Initial Lease Group, which Additional Leases will be referenced on Exhibit 2 hereto as agreed on by the Parties subsequent to the date hereof (the “Additional Leases”), for Purchaser's benefit for consideration of up to Three Million Dollars ($3,000,000.00) pursuant to the terms of this Agreement.
Additional Leases. (a) Each of Purchaser and Seller agree to negotiate in good faith to enter into (or cause their appropriate subsidiaries to enter into) at Closing a lease agreement with respect to the property at Walsroder Str. 9, 11, 13 and 15, Munchner Str. 67, 77 and 79 and Hexxxxx 000 xx Xxxxxx, Xxxxxxx (xxx "Xxxxxx Xxxlease") containing the following terms (i) a term of 10 years, provided that Purchaser may terminate such lease on the twelve month anniversary of the Closing by delivering written notice of such termination to Seller on or prior to the eleven month anniversary of the Closing and that Purchaser may terminate such lease any time after the fourth anniversary of the Closing Date by delivering written notice of such termination to Seller at least six months prior to the date of termination and (ii) a fair market value rent (to be determined by a mutually agreed independent expert if the parties are unable to agree on such fair market value), provided that the rent for the first year of the lease shall be zero, and such other terms as may be mutually agreed by the parties.
(b) Each of Purchaser and Seller shall agree to negotiate in good faith to enter into (or cause their appropriate subsidiaries to enter into) at Closing a lease agreement with respect to the property at 8411 Hacks Cross Road, Olive Branch, Mississippi, pursuant to which x xxxxxxxxxx xx Xxxxxx xxxxx xxxxx xxxx xxxxxxxy to a subsidiary of Purchaser for the one-year period commencing on the Closing. There shall be no rent charge for such lease. At the conclusion of such one-year period, at the request of Purchaser, Purchaser and Seller shall negotiate in good faith to enter into a lease with respect to such property on mutually agreed terms.
Additional Leases. Except as otherwise set forth in the Mortgage, ------------------ Assignor shall not enter into any additional Leases or renew any existing Leases without the prior written consent of Assignee.
