Application of Lease Sample Clauses

Application of Lease. This lease applies regardless of whether the leased premises are owned by the Lessor or leased by the Lessor from other entities.
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Application of Lease. (a) The Lease binds the Landlord’s and Tenant’s personal representatives and assignees, or if either or both of them are corporations, their successors and assignees, as if they were parties to it. (b) The Landlord named and described in the Lease as the Landlord (Original Landlord) enters into the Lease to the intent to bind the Original Landlord and the registered proprietor of the Land from time to time. (c) The Original Landlord will not be liable to the Tenant for damages for breach of covenant or in any other manner under the Lease, except in respect of those occurring while the Original Landlord remains the primary interest holder or registered proprietor of the Land.
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Application of Lease. Each Expansion Premises with respect to which Tenant exercises the applicable Expansion Option shall be included in the Premises upon the same terms, covenants and conditions as are applicable to the Premises, except to the extent, if any, otherwise provided below: (1) The term of the letting of the Expansion Premises shall expire on the Initial Term Expiration Date, subject to extension of the Term pursuant to Paragraphs 34(O), 34(P), 34(Q), 34(R) and 34(S), or termination thereof pursuant to Paragraph 34(Y) hereof. (2) Net Rent and Additional Rent in respect of Taxes and Operating Expenses, with respect to the Expansion Premises, shall commence to be payable on the date (the “Expansion Option Rent Commencement Date”) which is: (a) if such Expansion Premises is not Pre-Term Expansion Premises, the earlier of: (i) the date that is one hundred eighty (180) days after the later of (x) the date on which Landlord actually tenders possession of the applicable Expansion Premises to Tenant in the condition required by this Paragraph 34(L), and (y) the applicable Scheduled Expansion Delivery Date, and (ii) the date Tenant commences to conduct ordinary business in the Expansion Premises, or (b) if such Expansion Premises is Pre-Term Expansion Premises, on the Commencement Date. (3) The amount of Net Rent per square foot of Rentable Area with respect to any Pre-Term Expansion Premises shall be equal to that applicable to the Premises (as such Net Rent increases from time to time) as set forth in Exhibit C, or applicable during any Renewal Term, as determined below in this Article 34. The amount of Net Rent per square foot of Rentable Area with respect to the First Expansion Premises or the Second Expansion Premises shall be (a) $25.00 per square foot of Rentable Area, escalating on an annual compounding basis of 2.5% per year starting January 1, 2010, if located on the Low-Rise Floors, or (b) $27.00 per square foot of Rentable Area, escalating on an annual compounding basis of 2.5% per year starting January 1, 2010, if located on the Mid-Rise Floors, or (c) $29.00 per square foot of Rentable Area, escalating on an annual compounding basis of 2.5% per year starting January 1, 2010, if located on any floor above the Mid-Rise Floors, in each case subject to adjustment during any Renewal Term, as determined below in the Article 34. The amount of Net Rent with respect to any Expansion Premises other than Pre-Term Expansion Premises, First Expansion Premises or Second Exp...
Sample 1
Application of Lease. All of the provisions of the Lease shall apply to this Work Letter, except when expressly provided otherwise herein. References to Section numbers in this Work Letter shall be to sections of this Work Letter, except when expressly provided otherwise herein. D-38 EXHIBIT E PERMITTED EXCEPTIONS
Sample 1
Application of Lease. Except as hereinbefore expressly provided, all terms, conditions, covenants and agreements contained in the Lease shall apply and be binding upon the parties hereto, and their respective successors and permitted assigns, the appropriate changes of reference being deemed to have been made with the intent that such clauses shall govern the relationship in respect of such matters as between the Sublandlord and the Subtenant. Whenever under the terms of the Lease the consent or approval of the Landlord is required then the Subtenant shall be required to obtain the consent or approval of the Landlord and the Sublandlord and whenever under the terms of the Lease notice to the Landlord is required then the Subtenant shall be required to give notice to both the Landlord and the Sublandlord.
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Application of Lease. If Tenant exercises a Renewal Option, the applicable Renewal Term shall be on the same terms and conditions as those contained in this Lease, except that (x) the Fixed Rent shall be determined as provided in Section 29.5, (y) this provision giving two (2) Renewal Options shall be amended to reflect the remaining Renewal Option, if any, and (z) without limitation to the definition of Landlord’s Concessions in Section 29.5 below, Landlord shall have no obligation to provide any construction allowance or perform any tenant improvements or other work with respect to the Premises.
Sample 1
Application of Lease. If Tenant exercises the First Renewal Option or the Second Renewal Option, the First Renewal Term and the Second Renewal Term, as the case may be, shall be on the same terms and conditions as those contained in this Lease, except that (a) Base Rent with respect to the First Renewal Term and the Second Renewal Term, as applicable, shall be at the Current Market Rate as determined pursuant to Section 32(E) below and (b) Landlord shall have no obligation to perform any Initial Tenant Work or Landlord’s Maximum Expenditure or any other allowance or perform any tenant improvements or other work with respect to the Premises.
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Application of Lease. The lease or agreement described in para- graph (1) shall apply to the portion of the un- divided interest in allotted land described in such paragraph (including entitlement of the Indian tribe to payment under the lease or agreement), and the Indian tribe shall not be treated as being a party to the lease or agree- ment. Nothing in this section (or in the lease or agreement) shall be construed to affect the sovereignty of the Indian tribe. (Pub. L. 97–459, title II, § 214, as added Pub. L. 106–462, title I, § 103(6), Nov. 7, 2000, 114 Stat. 2000; amended Pub. L. 108–374, § 6(a)(6), Oct. 27, 2004, 118 Stat. 1801.)
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Application of Lease 
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Related to Application of Lease

  • Construction of Lease This Lease has been prepared by Landlord and its professional advisors and reviewed by Tenant and its professional advisors. Landlord, Tenant, and their advisors believe that this Lease is the product of all their efforts, that it expresses their agreement, and agree that it shall not be interpreted in favor of either Landlord or Tenant or against either Landlord or Tenant merely because of their efforts in preparing it.

  • Execution of Lease This Lease may be executed in counterparts and, when all counterpart documents are executed, the counterparts shall constitute a single binding instrument. Landlord's delivery of this Lease to Tenant shall not be deemed to be an offer to lease and shall not be binding upon either party until executed and delivered by both parties.

  • Termination of Lease (a) Landlord and Tenant hereby agree that, effective as of the Termination Date, the Lease and the term thereof shall terminate and expire, and Tenant’s estate in and right of possession to the Premises shall terminate and be wholly extinguished, as if said Termination Date was originally set forth in the Lease as the expiration date thereunder. Effective as of the Termination Date, neither Landlord nor Tenant shall have any further rights or obligations under the Lease, except as provided in this Agreement. Effective as of the Termination Date, Landlord and Tenant for themselves and their predecessors-in-interest, successors and assigns, do hereby release and forever discharge each other, their successors and assigns, from all actions, causes of action, sums of money, covenants, agreements, promises, damages, judgments, claims and demands whatsoever in law or in equity which each against the other ever had, now has, or which they or their respective predecessors, successors or assigns hereafter may have, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world through the Termination Date arising out of or in connection with the Lease or the Premises, or the Building; provided that (A) neither party shall be released from any of its obligations under this Agreement (and this Agreement shall survive the termination of the Lease), (B) neither Landlord or Tenant shall be released from any indemnification obligations that accrued under the Lease prior to the Termination Date and (C) the provisions of Section 8.13 and Section 8.21 of the Lease shall survive the termination of the Lease. Effective as of the Termination Date, Landlord shall be entitled to lease the Premises to any person or entity, or take any other action with respect thereto, free from any claim of Tenant or any person or entity claiming through Tenant. (b) On or prior to the Termination Date, Tenant agrees to surrender unto Landlord and its successors and assigns, and Landlord agrees to accept, the Premises in its “as is” condition. (c) In consideration of this Agreement and the termination of the Lease, Tenant agrees to permit the letter of credit in the amount of $8,698,662.00 issued by Citibank, N.A. (the “Letter of Credit”) which Letter of Credit Landlord is presently holding as security under the Lease, to be drawn down for the payment of the following sums: (i) $7,800,000.00 (the “Termination Fee”) to be drawn down and paid to Landlord in consideration of the termination of the Lease and the other transactions contemplated by this Agreement; and (ii) $898,662.00, representing the balance of the proceeds of the Letter of Credit shall be paid to Tenant. Tenant hereby authorizes Landlord to draw on the Letter of Credit and the entire proceeds of the Letter of Credit (the “Proceeds”) and Landlord agrees to deliver Tenant’s share of the Proceeds described in clause (ii) above to Tenant’s bank account within three (3) Business Days of Landlord’s receipt of the entire Proceeds in accordance with Tenant’s wire instructions attached hereto as Exhibit A. Except as otherwise set forth in this Agreement, it is agreed that in no event shall Tenant at any time be entitled to receive any other sums from Landlord in connection with the Lease, including, without limitation, all or any portion of the Work Allowance or any reimbursement of any amounts previously paid by Tenant to Landlord in connection with the construction of the Terrace Space. Contemporaneously herewith, Landlord shall deliver a sight draft to the issuer of the Letter of Credit in order to obtain payment of the Proceeds, which sight draft shall provide for the Proceeds to be paid to Landlord’s bank account, as designated by Landlord. Tenant hereby agrees to cooperate with Landlord and execute any and all documents required by the issuing bank in order to facilitate Landlord’s efforts to draw down on the Proceeds of the Letter of Credit. The effectiveness of the surrender and termination provided for in this Agreement is subject to, and conditioned upon, Landlord’s receipt of the Termination Fee in accordance with the terms hereof. If Landlord does not receive the Termination Fee in accordance with the terms hereof, then the termination of the Lease shall automatically be null and void and of no further force or effect and the Lease shall continue in full force and effect as if this Agreement had never been entered into. (d) Tenant shall be responsible for, and shall indemnify Landlord for, any and all transfer taxes, sales taxes or other taxes or similar charges imposed by any federal, state or local governmental authority or under any Law arising from or relating to this Agreement, the Termination Fee or any of the other transactions hereunder. Tenant will execute and deliver to Landlord a New York State Form TP 584 and a New York City Form RPT. (e) Landlord and Tenant agree that the disgorgement of any portion of the Termination Fee or the avoidance in whole or in part of this Agreement, under any applicable law, including, but not limited to, chapter 5 of title 11 of the United States Code (the "Bankruptcy Code"), shall be considered a breach of this Agreement by Tenant and shall entitle Landlord to seek the full amount of the Obligations and any other damages to which Landlord is entitled under the Lease from Tenant resulting from the breach of this Agreement.

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