Amendments to Leases Clause Samples
The "Amendments to Leases" clause defines the process and requirements for making changes to an existing lease agreement. Typically, this clause stipulates that any modifications, additions, or deletions to the lease must be made in writing and signed by both the landlord and the tenant. For example, if the parties wish to extend the lease term or alter the rent amount, such changes would need to follow the procedures outlined in this clause. Its core function is to ensure that all alterations to the lease are formally documented and agreed upon, thereby preventing misunderstandings or disputes about the terms of the lease.
Amendments to Leases. Borrower shall not, without the consent of Lender, amend, modify or waive the provisions of any Lease or terminate, reduce rents under, accept a surrender of space under, or shorten the term of, any Lease, sublease or sub-sublease (including any guaranty, letter of credit or other credit support with respect thereto) (the foregoing, collectively, a “Lease Modification”).
Amendments to Leases. Provided no Default exists hereunder, Borrower may, without the prior written consent of Lender (except if required pursuant to Section 4.10(d) hereof), amend, modify or waive the provisions of any Lease or terminate, reduce rents under, accept a surrender of space under, shorten the term of, consent to any assignment of, or consent to the subletting of any portion of the premises demised pursuant to any Lease (including any guaranty, letter of credit or other credit support with respect thereto) (any of the foregoing, a “Lease Modification”), provided that (i) such Lease Modification (taking into account, in the case of a termination, reduction in rent, surrender of space or shortening of term, the planned alternative use of the affected space) does not have a materially adverse effect on the value of the Property taken as a whole, (ii) such Lease Modification is in the normal course of business and is consistent with sound and customary leasing and management practices for similar properties in the community in which the Property is located, and (iii) such Lease, as amended, modified or waived, is otherwise in compliance with the requirements of this Agreement and any subordination agreement binding upon Lender with respect to such Lease. A termination of a Lease with a Tenant who is in default beyond applicable notice and grace periods shall not be considered an action which has a materially adverse effect on the value of the Property taken as a whole. Any Lease Modification which does not satisfy the requirements set forth in this Section 4.10(c) shall be subject to the prior approval of Lender and its counsel, at Borrower’s expense (and, in conjunction therewith, Borrower shall provide Lender with such information as Lender shall reasonably request with respect to such proposed Lease Modification and the Tenant under the Lease affected thereby). Promptly upon entering into any Lease Modification without Lender’s approval pursuant to this Section 4.10(c), Borrower shall deliver to Lender a copy of such instrument, together with Borrower’s certification that such instrument satisfies all of the conditions of this Section 4.10.
Amendments to Leases. All of the Hotel Leases included within the Companies' Assets shall be amended and restated by all of the parties thereto (simultaneously with the Closing) to be in substantially the form of Exhibit A to the Master Agreement.
Amendments to Leases. Contemporaneously with the execution and delivery of this Amendment, HPT TA Landlord and TA Operating shall enter into amendments of the Amended and Restated TA Leases in the forms attached hereto as Exhibit B-1 through Exhibit B-4 and HPT-PSC Landlord and TA Operating shall enter into an amendment of the Petro Lease in the form attached to this Amendment as Exhibit B-5 (collectively, the “Lease Amendments”), and TA LLC and TA Holding shall execute such Lease Amendments as provided therein.
Amendments to Leases. Seller shall not enter into any new leases or assign, modify, terminate (unless the tenant thereunder shall have materially defaulted in the performance of any of its obligations under the Lease) or amend the Leases in any respect without Buyer's prior written consent, which consent shall not be unreasonably withheld. If Buyer does not disapprove any request of Seller regarding a Lease within five (5) days of such request, Buyer shall be deemed to have approved such request.
Amendments to Leases. As of the Effective Time of the Mariner-Paragon -------------------- Merger, amendments to the Leases between Mariner-Nashville and Denver Medical Investors, Ltd. (L.P.), Port Charlotte Healthcare Associates, Ltd. (L.P.) and Belleair East Medical Investors, Ltd. (L.P.) in the forms attached hereto as Exhibits 1, 2 and 3, which have been executed contemporaneously herewith, shall become effective (the "Lease Amendments"). Mariner, as guarantor of Lessee's obligations under such Leases, hereby consents to such amendments. Mariner- Nashville and each of the Lessors mentioned above shall enter into and record an amendment to the Memorandum of Lease, Right of First Refusal, and Option to Purchase which is currently recorded in the public records with respect to each affected Facility to reflect the changes effected by the Lease Amendments. Each Lease Amendment shall be subject to the approval of the holder of any mortgage encumbering the affected Facility, if such approval is required by the mortgage or related documents.
Amendments to Leases. The Company shall have entered into amendments to the lease agreements with the respective lessors for each of the properties located in Rockland, Massachusetts; Cleveland, Ohio; and Little Elm, Texas; each of which shall be mutually acceptable to the Purchaser and the lessors of such properties.
Amendments to Leases. The following amendments shall be made to each Lease:
(1) A new Section 3.07 is hereby added to each Lease to read as follows:
Amendments to Leases. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ shall, so long as he is an employee of or consultant to ▇▇▇▇▇ or any of its Affiliates, use his best efforts to obtain from any Landlord any amendment to any Lease (the "Amendments") reasonably requested by the Purchasers or the Purchasers' lender (including, without limitation, Amendments to reflect (i) the Companies' good and marketable title in fee simple absolute to the Improvements located at each Leased Real Property (free and clear of any Lien, except Permitted Liens), and (ii) the Companies' unrestricted right to remove, dispose of or otherwise deal with all such Improvements upon any expiration or termination of the Leases).
Amendments to Leases. 1. Effective as of the consummation of the Merger, each of the Leases is amended by adding the following definition to Article 2 immediately after the term "Casualty":