Co-Tenancy. (a) Each Co-Tenant acknowledges and confirms that it owns or will own its interest in the Property as a tenant in common with the other Co-Tenants, and that each Co-Tenant's undivided interest in the Property is equal to its Percentage Interest.
(b) The purposes of the Co-Tenants with respect to the Property are: (i) to acquire, manage, lease, mortgage and dispose of the Property; and (ii) to take such other actions as the Co-Tenants deem necessary or advisable to carry out the foregoing. The Co-Tenants intend to take and hold the Property for investment purposes only. The Co- Tenants shall only engage in activities that are customary services in connection with the maintenance and repair of the Property. Specifically, neither the Co-Tenants nor their agents shall provide services: (a) that are not “customary services” within the meaning of Revenue Ruling 75-374, 1975-2 C.B. 261; (b) the payment for which would not qualify as “rent” as defined by Section 512(b)(3)(A) of the Internal Revenue Code of 1986, as amended (the “Code”) and the Regulations thereunder; or (c) the payment for which would not qualify as “rents from real Property” as defined by Code Sections 856(c)(2)(C) and 856(c)(3)(A) and the Treasury Regulations thereunder.
(c) Without limitation of the preceding paragraph, none of the Co-Tenants shall have any fiduciary duty or obligation to any other Co-Tenant by reason of ownership of such Co-Tenant's interest in the Property or by reason of this Agreement. Each Co-Tenant and the partners, officers, directors, members, managers, and shareholders of each Co-Tenant may engage in whatever activities they choose, whether competitive with the Property or otherwise, without having or incurring any obligation to offer any interest in any such activities to any other Co-Tenant. Neither this Agreement nor the interest of any Co-Tenant in the Property nor the relationship among the Co- Tenants shall prevent any Co-Tenant, or the partners, officers, directors, members, managers, and shareholders of any Co-Tenant, from engaging in such activities, or require participation in such activities by any other Co-Tenant.
(d) For so long as the Loan, or any portion thereof, remains outstanding, the Co-Tenants hereby waive any right they may have to partition the Property or to file a partition action relating to the Property and specifically covenant not to undertake any such action.
Co-Tenancy. Notwithstanding anything to the contrary, the Commencement Date shall not occur, nor shall Tenant be obligated to pay Rent or any other charges hereunder until Landlord, operating as “Lowe’s” has opened and is operating for business in its entire premises on the Real Property. If Lowe’s vacates or ceases business operations in its premises for any reason whatsoever (other than temporary discontinuances not to exceed one hundred and twenty (120) days for remodeling, alterations or restoration work), then either party may terminate this Lease, whereupon the parties shall be released from all liability hereunder except for any indemnities specifically surviving this Lease. Should Landlord intend to cease operations, Landlord shall provide Tenant with thirty (30) days prior written notice of same.
Co-Tenancy. This Agreement is not personally binding upon and resort shall not be had nor shall recourse or satisfaction be sought from the private property of any of the unit holders of Investors Real Property Fund (the "FUND"), trustees, officers, directors, employees or agents of the trustee or manager of the Fund, it being intended and agreed that only the property of the Fund shall be bound by this Agreement. Only the co-tenancy interests of Menkes and Investors Group shall be bound hereby and the obligations hereunder are not binding upon either of Menkes or Investors Group in any other respect nor shall resort be had to any other property of any of Menkes or Investors Group. The rights and obligations of each of Menkes and Investors Group hereunder shall, in every case, be several and proportionate and not either joint or joint and several.
Co-Tenancy. If at any time during the Lease Term less than eighty-five percent (85%) of the retail portion of University Village is leased and open for business for a continuous period of more than one hundred eighty (180) days, Tenant shall have the option to pay the lesser of (i) Minimum Rent, Percentage Rent and Other Charges, or (ii) ten percent (10%) of Gross Sales in substitution for Minimum Rent, Percentage Rent and Other Charges until such time as Landlord notifies Tenant that at least eighty-five percent (85%) of the retail portion of University Village is leased and open for business. Landlord shall, upon written request of Tenant, verify in writing the names and square foot areas of all tenants open and operating in University Village.
Co-Tenancy. On- Going Co-Tenancy Requirement: The Required Area of the premises marked on Exhibit B as occupied by the Other Required T (the “Anchor Premises”) shall be open and continuously operated by no more than three (3) Anchor Tenants with respect to the premises marked on Exhibit B as occupied by the respective Other Required Tenant, with one (1) of the Anchor Tenants occupying at least 25,000 Leasable Sq.ft. Other Required Tenant: Kohls Leasable Sq. ft. of Space: 86,584 Type of Operation: Discount Department Store T may exercise the remedies specified in the Lease if the On-Going Co-Tenancy Requirement is not satisfied. (Lease, 13) Landlord Restrictions: LL shall not erect a kiosk within 20 feet from the Premises. (Lease, Ex. E-4) LEGAL/FINANCIAL Assignment & Subletting: (Lease, 9) Consent: T will not assign or sublet w/o the prior written consent of LL, not to be unreasonably withheld. Liability: T remains liable.
Co-Tenancy. The Head Lessor and the Head Lessee intend for their respective rights as tenants-in-common in the Facility under Applicable Law to be modified and supplemented by the terms of this Head Lease and, following termination of the Facility Lease, the Support Agreement. Without limiting the foregoing, to the extent inconsistent with this Head Lease and, following termination of the Facility Lease, the Support Agreement, and to the extent permitted by law, the Head Lessor and the Head Lessee, on its own behalf and on behalf of its successors and assigns, disclaim the application of fiduciary duties imposed on co-tenants, any right for reimbursement for repairs and improvements made by a co-tenant, and any right to a share of rents or profits generated by a co-tenant.
Co-Tenancy. In the event seventy percent (70%) or more ofthe gross rentnble space in the Shopping Center (excluding Outparcels) is or becomes vacnnt for reasons other than a temporaiy closure during the Lease Term for a period greater than ninety (90) days (an "Excess Vacancy''), then Tenant shall pay 50% of the base rent that would have otherwise been due under the Lease, plus all additional rent, retroactive to tlie beginning of the Excess Vacancy, for a period not to exceed: (i) 12 montl1s, or (ii) the curing ofthe Excess Vacancy. The abatement shnll only apply to the percentnge of the floor ai-ea in tl1e Premises that is being used as retail area (excluding office/storage). After 12 consecutive months of an Excess Vacancy, the Tenant shall have the right to terminate this Lease upon ninety (90) days' written notice ·given to Landlord.
Co-Tenancy. (a) The Interconnection Customer’s rights and obligations under this CLGIA and certain of the Interconnection Customer’s Interconnection Facilities shall be held by RE Columbia LLC, RE Columbia Two LLC, RE Yakima LLC and RE Clearwater LLC (each, a “Co-Tenant”) as tenants-in-common. Each Co-Tenant owns a discrete number of solar generation equipment and other assets that, collectively, comprise the RE Columbia Project. The rights and obligations of the Co-Tenants as against each other with respect to certain of the Interconnection Customer’s Interconnection Facilities and this CLGIA are set forth in the Co- Tenancy and Common Facilities Agreement (“Co-Tenancy Agreement”), of even date herewith, among the Co-Tenants and RE Columbia Interconnection Manager LLC (“Manager”) as the “Manager.” A copy of the Co-Tenancy Agreement shall be provided to the Distribution Provider within ten (10) Calendar Days of its execution. Any changes to Co-Tenancy Agreement shall be subject to review and approval by the Distribution Provider, which shall not be withheld unreasonably.
(b) Each Co-Tenant shall be jointly and severally liable for all obligations required of the Interconnection Customer set forth in this CLGIA, including all affirmative covenants and all monetary obligations, the latter of which includes the financing of all Interconnection Facilities that are required to be financed by the Interconnection Customer in order to accommodate the interconnection of the entire RE Columbia Project.
(c) Except as expressly provided in this Section 6(c), unless the Distribution Provider agrees otherwise, there shall be no more than four (4) Co-Tenants comprising Interconnection Customer, and neither Interconnection Customer nor any Co- Tenant may further subdivide in any manner or form its interests in this CLGIA. Notwithstanding the foregoing, each of RE Columbia, LLC, RE Columbia Two LLC, RE Yakima LLC and RE Clearwater LLC (or any successor permitted in accordance with Article 19 of the CLGIA) may assign all or a portion of its respective rights and obligations in the Interconnection Customer’s Interconnection Facilities, and other rights and obligations under this CLGIA to an Affiliate; provided that such assignment otherwise complies with all provisions of this CLGIA, including this Section 6, and such Affiliate becomes a party to the Co-Tenancy Agreement and agrees to become a party to this CLGIA and otherwise meets all of the requirements of a Co-Tenant under this Sect...
Co-Tenancy. This Lease is not personally binding upon and resort shall not be had nor shall recourse or satisfaction be sought from the private property of any of the unit holders of Investors Real Property Fund (the "Fund"), trustees, officers, directors, employees or agents of the trustee or manager of the Fund, it being intended and agreed that only the property of the Fund shall be bound by this Lease. Only the co-tenancy interests of Menkes Office Parks Ltd. ("Menkes") and Investors Group Trust Co. Ltd. ("Investors Group") shall be bound hereby and the obligations hereunder are not binding upon either of Menkes or Investors Group in any other respect nor shall resort be had to any other property of any of Menkes or Investors Group. The rights and obligations of each of Menkes and Investors Group hereunder shall, in every case, be several and proportionate and not either joint or joint and several.
Co-Tenancy. Notwithstanding anything contained in this Lease to the contrary, in the event the Co-Tenancy Requirement (as defined below) shall not have been met by the Commencement Date, Tenant may elect to either: (i) delay the Commencement Date until not more than 30 days after the Co-Tenancy Requirement has been met (and in such event the Commencement Date hereunder shall be deemed to be the earlier of Tenant's opening for business within the Premises or the expiration of said 30-day period); or (ii) open for business prior to the Co- Tenancy Requirement being met but, in lieu of Base Rent owed hereunder, Tenant shall pay to Landlord 50% of the Base Rent that would otherwise be due hereunder during each such month that the Co-Tenancy Requirement is not met. In the event that Tenant elected to pay 50% of Base Rent pursuant to this Section 14.19 for 12 consecutive months, Tenant shall elect, by notice delivered to Landlord within 30 days after the expiration of said 12-month period, to either (y) terminate this Lease (effective 90 days after Landlord's receipt of Tenant's notice), or (z) recommence the full payment of Base Rent thereafter coming due hereunder. If Tenant fails to make such election within said 30-day period, Tenant shall be deemed to have elected option (z) above. For the purposes of this Section 14.19, the "Co-Tenancy Requirement" shall mean Lowes (or a comparable user in Tenant's reasonable business judgment) opening for business for at least one day within substantially all of the premises identified on Exhibit A.
