Ancillary Rights. As part of the sale and subject to the terms hereof, Buyer shall have irrevocable, non-exclusive licenses for rail access and road access as set forth and designated as the Rail Rights and Road Rights, attached hereto as Exhibit K (such rights are referred to herein as the “Ancillary Rights”; the Ancillary Rights do not include the Buyer’s Track); provided, however, the Buyer shall utilize the switching carrier designate by Seller and that railcar storage by buyer shall be limited only to the Premises. In the event the switching carrier designate by Seller is not available to serve the Premises, Buyer may make alternate arrangements for switching service, subject to Seller’s approval, which approval shall not be unreasonably withheld or delayed, In addition, the Buyer shall have all rights and access to all roads as granted and outlined and depicted in Exhibit K. The Ancillary Rights of Buyer are also subject to the following: (A) Seller reserves the right, at Seller’s sole cost and expense, and upon notice to Buyer to locate, move, substitute for or otherwise change the location of any of the Ancillary Rights to such locations within the KIPC as may be designated by Seller, provided that the location of Buyer’s new Ancillary Rights provides Buyer with Ancillary Rights equivalent to the original Ancillary Rights, and the Seller shall use its best efforts to minimize disruption to Buyer’s business operations at the Premises. Upon any such designation of a new location and upon completion of such relocation, and upon granting of such replacement Ancillary Rights, all rights, title and interest created by this sale in and to the old location shall automatically terminate and revert to Seller without demand or reentry by Seller. Any such new location for any of the Ancillary Rights shall likewise be subject to all the terms and provisions of this sale including the provisions of this subparagraph (A). (B) Buyer’s rights hereunder are subject to rights of other owners, tenants and occupants at the KIPC, and to Seller’s rights and Seller’s agents, assignees, carriers, contractors and all other persons lawfully using the Ancillary Rights, herein called “rightful user”. (C) Buyer agrees to pay $1000 per acre, per annum for Common Area Maintenance. This fee will be used by Owner to maintain the common areas of the KIPC including snow removal, landscaping, road maintenance and lighting. This fee will escalate by 3% per year and be billed on the first day of every year.
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Samples: Agreement for the Sale and Purchase of Real Estate (Bard Holding, Inc.), Sale and Purchase Agreement (Bard Holding, Inc.)
Ancillary Rights. As part of the sale and subject to the terms hereof, Buyer shall have irrevocable, non-exclusive licenses for rail access and road access as set forth and designated as the Rail Rights and Road Rights, attached hereto as Exhibit K (such rights are referred to herein as the “Ancillary Rights”; the Ancillary Rights do not include the Buyer’s Track); provided, however, the Buyer shall utilize the switching carrier designate by Seller and that railcar storage by buyer shall be limited only to the Premises. In the event the switching carrier designate by Seller is not available to serve the Premises, Buyer may make alternate arrangements for switching service, subject to Seller’s approval, which approval shall not be unreasonably withheld or delayed, In addition, the Buyer shall have all rights and access to all roads as granted and outlined and depicted in Exhibit K. The Ancillary Rights of Buyer are also subject to the following:: 1
(A) Seller reserves the right, at Seller’s sole cost and expense, and upon notice to Buyer to locate, move, substitute for or otherwise change the location of any of the Ancillary Rights to such locations within the KIPC as may be designated by Seller, provided that the location of Buyer’s new Ancillary Rights provides Buyer with Ancillary Rights equivalent to the original Ancillary Rights, and the Seller shall use its best efforts to minimize disruption to Buyer’s business operations at the Premises. Upon any such designation of a new location and upon completion of such relocation, and upon granting of such replacement Ancillary Rights, all rights, title and interest created by this sale in and to the old location shall automatically terminate and revert to Seller without demand or reentry by Seller. Any such new location for any of the Ancillary Rights shall likewise be subject to all the terms and provisions of this sale including the provisions of this subparagraph (A).
(B) Buyer’s rights hereunder are subject to rights of other owners, tenants and occupants at the KIPC, and to Seller’s rights and Seller’s agents, assignees, carriers, contractors and all other persons lawfully using the Ancillary Rights, herein called “rightful user”.
(C) Buyer agrees to pay $1000 per acre, per annum for Common Area Maintenance. This fee will be used by Owner to maintain the common areas of the KIPC including snow removal, landscaping, road maintenance and lighting. This fee will escalate by 3% per year and be billed on the first day of every year.
Appears in 1 contract
Samples: Purchase and Sale Agreement
Ancillary Rights. As part 4.1 Pledgor shall remain entitled (i) to receive dividends in respect of the sale Pledged Shares and subject (ii) to dispose of dividends in respect of the terms hereof, Buyer Pledged Shares.
4.2 Pledgee shall have irrevocable, non-exclusive licenses for rail access and road access be entitled to revoke Pledgor's rights under Section 4.1 of the Agreement in written form by registered letter if an event of default as set forth and designated as in any of the Rail Rights and Road Rights, attached hereto as Exhibit K Existing Financing Documents occurs (such rights are referred to herein as the “Ancillary RightsEvent of Default”; the Ancillary Rights do not include the Buyer’s Track); provided, however, the Buyer shall utilize the switching carrier designate by Seller and that railcar storage by buyer shall be limited only to the Premises. In the event of such revocation, all prospective dividends that have not been distributed shall be deemed collaterals (the switching carrier designate "Collaterals") for the Secured Rights and shall be transferred to such bank account as determined by Seller Pledgee and notified to Pledgor in writing.
4.3 Pledgee shall release the Collaterals without undue delay if the default has been waived or remedied.
4.4 Pledgor undertakes to take all reasonable action to refrain from doing anything which could impair and / or restrict the value of the Pledged Shares or which could have a material adverse effect on the Pledged Shares.
4.5 Pledgee is not available entitled to serve exercise any shareholder rights which are attributed to and/or connected with the PremisesPledged Shares, Buyer may make alternate arrangements including, without limitation, voting rights. All such rights remain with Pledgor and Pledgor is not limited in the exercise of such rights by this Agreement.
4.6 The Pledgor undertakes, in the event of any increase in the share capital of the Company, not to allow, without the prior written consent of the Pledgee any other party except for switching servicethe Pledgee to subscribe for any future shares in the Company if such subscription were to result in a decrease of the Pledgor's shareholdings below the proportion currently held by the Pledgor, subject and not to Seller’s approvaldefeat, impair or circumvent in any way the rights of the Pledgee created hereunder.
4.7 The Pledgor undertakes to promptly inform the Pledgee in writing of all matters concerning the Company of which approval shall not be unreasonably withheld or delayed, the Pledgor is aware which might have an adverse effect on the security interest of the Pledgee created hereunder. In additionparticular, the Buyer Pledgor shall notify the Pledgee in writing forthwith of any shareholder meeting at which a shareholder resolution is intended to be adopted which might have all rights and access to all roads as granted and outlined and depicted in Exhibit K. The Ancillary Rights of Buyer are also subject to the following:
(A) Seller reserves the right, at Seller’s sole cost and expense, and an adverse effect upon notice to Buyer to locate, move, substitute for or otherwise change the location of any of the Ancillary Rights to such locations within Pledge. Following the KIPC occurrence of an Event of Default which is continuing, the Pledgee or, as the case may be be, its proxy or any other person designated by Sellerthe Pledgee for such purpose, provided that the location of Buyer’s new Ancillary Rights provides Buyer with Ancillary Rights equivalent shall be entitled to the original Ancillary Rights, and the Seller shall use its best efforts to minimize disruption to Buyer’s business operations at the Premises. Upon any participate in all such designation of a new location and upon completion of such relocation, and upon granting of such replacement Ancillary Rights, all rights, title and interest created by this sale in and to the old location shall automatically terminate and revert to Seller without demand or reentry by Seller. Any such new location for any shareholder meetings of the Ancillary Rights Company as attendant without power to vote. The Pledgee’s right to attend the shareholder meetings shall likewise be subject to lapse immediately upon the release of all the terms and provisions of this sale including the provisions of this subparagraph (A).
(B) Buyer’s rights hereunder are subject to rights of other owners, tenants and occupants at the KIPC, and to Seller’s rights and Seller’s agents, assignees, carriers, contractors and all other persons lawfully using the Ancillary Rights, herein called “rightful user”.
(C) Buyer agrees to pay $1000 per acre, per annum for Common Area Maintenance. This fee will be used by Owner to maintain the common areas of the KIPC including snow removal, landscaping, road maintenance and lighting. This fee will escalate by 3% per year and be billed on the first day of every yearPledges in accordance with Clause 3.5 hereof.
Appears in 1 contract
Ancillary Rights. As The right, where necessary, to bring plant and equipment onto the Premises and to place scaffolding and ladders upon the exterior of or outside the Building in exercising the Landlord’s rights under this Lease.
1. Defined terms
(a) if the Building or any part of it has been damaged or destroyed, it has been reinstated before the sale Rent Review Date;
(b) the Premises are fit for immediate occupation and subject use by the willing tenant;
(c) the Premises may lawfully be let to and used for the Permitted Use by any person throughout the term of the Hypothetical Lease;
(d) the Tenant has complied with its obligations under this Lease and (except to the terms hereofextent that there has been a material or persistent breach by the Landlord) the Landlord has complied with its obligations under this Lease; and
(e) on the grant of the Hypothetical Lease the willing tenant would receive the benefit of a rent free period, Buyer shall have irrevocable, nonrent concession or any other inducement of a length or amount that might be negotiated in the open market for fitting-exclusive licenses for rail access and road access as set forth and designated as the Rail Rights and Road Rights, attached hereto as Exhibit K (such rights are referred to herein as the “Ancillary Rights”; the Ancillary Rights do not include the Buyer’s Track); provided, however, the Buyer shall utilize the switching carrier designate by Seller out purposes only and that railcar storage by buyer shall be limited only the Market Rent is the rent that would become payable after the end of that period, or concession or payment of that inducement.
(a) an effect on rent of the Tenant having been in occupation of the Premises and any goodwill arising from that occupation;
(b) an increase in rent attributable to any improvement, including any tenant’s initial fitting-out works, whether or not within the Premises. In the event the switching carrier designate by Seller is not available to serve the Premises, Buyer may make alternate arrangements for switching service, subject to Seller’s approval, which approval shall not be unreasonably withheld or delayed, In addition, the Buyer shall have all rights and access to all roads as granted and outlined and depicted in Exhibit K. The Ancillary Rights of Buyer are also subject to the following:
(Ai) Seller reserves carried out by and at the rightcost of the Tenant before or during the Term; and
(ii) not carried out pursuant to an obligation to the Landlord or the Landlord’s predecessors in title (and any obligations relating to the method or timing of works in any document giving consent will not be treated as an obligation for these purposes);
(c) a reduction in rent attributable to works that have been carried out by the Tenant; and in the “Disregards”, at Seller’s sole cost and expensereference to “the Tenant” includes predecessors in title to the Tenant, and upon notice to Buyer to locate, move, substitute for or otherwise change the location of any undertenants of the Ancillary Rights to such locations within the KIPC as may be designated by Seller, provided that the location of Buyer’s new Ancillary Rights provides Buyer with Ancillary Rights equivalent to the original Ancillary Rights, Tenant and the Seller shall use its best efforts to minimize disruption to Buyer’s business operations at the Premises. Upon any such designation of a new location and upon completion of such relocation, and upon granting of such replacement Ancillary Rights, all rights, title and interest created by this sale their predecessors in and to the old location shall automatically terminate and revert to Seller without demand or reentry by Seller. Any such new location for any of the Ancillary Rights shall likewise be subject to all the terms and provisions of this sale including the provisions of this subparagraph (A)title.
(B) Buyer’s rights hereunder are subject to rights of other owners, tenants and occupants at the KIPC, and to Seller’s rights and Seller’s agents, assignees, carriers, contractors and all other persons lawfully using the Ancillary Rights, herein called “rightful user”.
(C) Buyer agrees to pay $1000 per acre, per annum for Common Area Maintenance. This fee will be used by Owner to maintain the common areas of the KIPC including snow removal, landscaping, road maintenance and lighting. This fee will escalate by 3% per year and be billed on the first day of every year.
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Samples: Lease Agreement