ADJUSTMENT OF LAND USE CHARGE Sample Clauses

ADJUSTMENT OF LAND USE CHARGE a) The Land Use Charge specified in Section 5.1(a) above has been calculated to approximate the monthly fair rental value of the Land, current as of the commencement of the Lease term, recognizing that its use is restricted by certain provisions of this Land Lease. The Land Use Charge shall be applicable in calculating the Land Lease Fee at all times during the term of this Land Lease, as such Land Use Charge shall be adjusted as hereinafter provided. Notwithstanding the generality of the foregoing, in the event that, for any reason, the provisions of Section 10 or Section 11 of this Land Lease regarding transfers of the Improvements are suspended or invalidated, then during such portion of the term of this Land Lease as Land Lessee shall as a result thereof not be required to comply with the provisions of said Sections 10 or Section 11, the Land Use Charge shall be increased to an amount calculated by Land Owner to equal the fair rental value of the Land for use not so restricted. In such event, upon Land Owner's election exercised by notice to Land Lessee, the Land Use Charge shall be as such notice shall specify. b) In order to keep the Land Use Charge reasonably current, the amount specified in Section 5.1(a) shall be subject to adjustment in the year 2000 and every five years thereafter during the term of this Land Lease, provided any increase in the Land Use Charge shall not exceed an effective annual increase of three percent (3%). If the Land Use Charge is based upon the fair rental value of the Land not subject to the restrictions of Sections 10 or 11 of this Land Lease, as such standards are specified in paragraph 5.5(a) above, then the fair rental value not so restricted may be recalculated every year during the term of this Land Lease and any change in the Land Use Charge shall not be limited as specified in this Section 5.5(b). c) The Land Use Charge shall be adjusted through such reasonable process as the Land Owner shall determine, and shall be based upon the standards set forth in Section 5.5(a) above. Land Owner shall notify Land Lessee promptly upon such adjustment of the new Land Use Charge amount, and if Land Lessee shall not state objections to such adjusted amount and the basis for its objection and its proposed adjusted amount within thirty (30) days after receipt of such notice, the Land Use Charge shall then be as stated by Land Owner in such notice. If the Land Lessee shall so object to the adjusted Land Use Charge and the parties...
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Related to ADJUSTMENT OF LAND USE CHARGE

  • Consent of Landlord Tenant shall not assign this Lease, or sublet the Leased Premises, or any part thereof, without Landlord's prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, Tenant shall have the right to sublet up to fifty percent (50%) of the total rentable square feet contained within the Leased Premises without the necessity of obtaining Landlord's prior consent and without releasing the Tenant from liability under this Lease. Prior to any sublease or assignment, Tenant shall first notify Landlord in writing of its election to sublease all or a portion of the Leased Premises or to assign this Lease or any interest hereunder, and shall provide Landlord current financial information and other information requested by Landlord regarding the proposed assignee or subtenant. At any time within fifteen (15) days after service of said notice and delivery of such information, Landlord shall notify Tenant that it consents or refuses to consent to the sublease or assignment. Landlord shall not have the right to recapture any sublease or assignment space. Any denial of such sublease or assignment by Landlord as hereinabove provided must be predicated upon a "commercially reasonable basis" for such denial. Tenant shall retain any profits paid in connection with a sublease or assignment in excess of Tenant's Base Rent obligations hereunder, which profits shall be calculated after deducting all costs incurred by Tenant in connection with the space subject to the transfer, which shall include, but not be limited to, tenant improvements, leasing commissions and the time to sublease and remodel the Leased Premises. Any assignment or subletting shall not release Tenant of its liability under this Lease nor permit any subsequent assignment, subletting or other prohibited act, unless specifically provided in such consent. Within thirty (30) days of any assignment or subletting, Tenant shall provide to Landlord executed copies of all assignment or subleasing documents.

  • Pledge, Mortgage or Charge as Collateral for a Loan

  • Description of Land The Site contains the following Assessor Parcel Numbers upon which the Project is located and as identified on the topographical map included in this Appendix XIII: [Insert Map]

  • Modification of Land Act For the purpose of this Agreement in respect of any land leased to the Company by the State the Land Act shall be deemed to be modified by —

  • Amendment of Lease This lease may be amended only by an instrument in writing signed by Landlord and Tenant.

  • Commencement of Leave Parental leave must commence no later than the first anniversary date of the birth or adoption of the child or of the date on which the child comes into the actual care and custody of the employee. The employee will decide when his or her parental leave is to commence.

  • Assignment of Lease The Tenant may not assign the Lease or sublet all or any part of the Premises or otherwise grant possession of the Premises or any portion thereof to any other person without first obtaining the prior written consent of the Landlord, such consent not to be unreasonably withheld. In no event shall the Tenant be released or discharged from the full performance of this Lease and the payment of all rents and monies and the observance of all covenants, agreements, terms and conditions herein contained and any such consent granted by the Landlord shall not be deemed or implied as consent to any further or subsequent assignment or subletting. In the event this Lease is assigned or all or a portion of the Premises sublet, the Tenant shall pay all reasonable out-of-pocket expenses incurred by the Landlord in any such assignment or subletting, including the Landlord’s legal costs in connection therewith and a non-refundable amount of Five Hundred Dollars ($500.00) in advance to the Landlord, representing a reasonable cost to the Landlord for reviewing such application. Any transferee shall enter into an agreement directly with the Landlord covenanting to be bound by all of the Tenant’s obligations hereunder to the extent applicable to it. Notwithstanding the foregoing provisions of this Section 10.01 or anything else contained herein, so long as Tenant is not then in default under this Lease beyond any applicable curative period provided for in this Lease, Tenant shall have the right, without the consent of Landlord, but otherwise in accordance with the requirements of this Lease, including without limitation, the obligation of any transferee to enter into an agreement directly with the Landlord covenanting to be bound by all of the Tenant’s obligations hereunder to the extent applicable, to assign this Lease and/or sublease the whole or part of the Premises to:

  • Payment of Debt or Delinquency to the State Pursuant to §§2107.008 and 2252.903, Texas Government Code, Contractor agrees any payments owing to Contractor under this Agreement may be applied directly toward any debt or delinquency Contractor owes the State of Texas or any agency of the State of Texas, regardless of when it arises, until paid in full.

  • Transfer of Landlord’s Interest Tenant acknowledges that Landlord has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees to look solely to such transferee for the performance of Landlord’s obligations hereunder after the date of transfer and such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Landlord, including the return of any Security Deposit, and Tenant shall attorn to such transferee.

  • Interest Subsidy and Special Allowance Payments and Rebate Fees The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

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