Consolidation of leases Sample Clauses

Consolidation of leases. ( a) L e a ses m ay be co n solid a t ed u po n w r i tt e n r eq u es t of t h e xxxxxx filed wi t h t h e S x x x x Di r ec t o r Al a s k a , B ur e au of Lan d M xxx ge m e n t . Th e r eq u es t s ha ll ide n t ify e a c h le a se i n volved b y se r i a l nu m be r an d s ha ll expl a i n t h e fa c t o r s w h ic h j u s t ify t h e co n solid a t io n . ( b) All p ar t ies h oldi n g any un divided i n t e r es t i n any le a se i n volved i n t h e co n solid a t io n s ha ll a g r ee t o e n t e r i n t o t h e s a m e le a se co n solid a t io n . ( c) Co n solid a t io n of le a ses n o t t o ex- ceed 60,000 a c r es m ay be a pp r oved b y t h e S x x x x Di r ec t o r , Al a s k a if i t is de- x x x x x x xx t ha t t h e co n solid a t io n is j u s- t ified. ( d) Th e effec t ive d a t e, t h e xxx xxx r - s ary d a t e an d t h e p r i m ary t e r m of t h e co n solid a t ed le a se s ha ll be t h ose of t h e oldes t o r igi na l le a se i n volved i n t h e co n solid a t io n . Th e t e r m of a co n soli- d a t ed le a se s ha ll be ex t e n ded be y o n d t h e p r i m ary le a se t e r m o n l y so lo n g a s oil o r g a s is p r od u ced i n p ay i n g q uan- t i t ies o r a pp r oved co n s t ru c t ive o r a c- t ua l d r illi n g o r r ewo r k i n g ope ra t io n s ar e co n d u c t ed t h e r eo n . ( e) R o ya l t y , r e n t a l , speci a l le a se s t ip- u l a t io n s an d o t h e r t e r m s an d co n di- t io n s of e a c h o r igi na l le a se excep t t h e effec t ive d a t e, xxx xxx x x xxx d a t e an d t h e p r i m ary t e r m s ha ll co n t i nu e t o a ppl y t o t ha t le a se o r any po r t io n t h e r eof r eg ar dless of t h e le a se beco m - i n g a p ar t of a co n solid a t ed le a se. [48 F R 413, J an . 5, 1983] A le a se m ay be s urr e n de r ed i n w h ole o r i n p ar t b y t h e lessee b y fili n g a w r i t - t e n r xxx n q u is h m e n t , i n t r iplic a t e, wi t h t h e Al a s k a S x x x x Office of t h e B ur e au . No fili n g fee is r eq u i r ed. I n t h e c a se of p ar t i a l r xxx n q u is h m e n t s, n ei t h e r t h e r e- li n q u is h ed l an ds n o r t h e r e t a i n ed l an ds s ha ll be less t han a co m p a c t t ra c t of n o t less t han 640 a c r es. A r xxx n q u is h- m e n t s ha ll t a k e effec t o n t h e d a t e i t is filed s u bjec t t o t h e co n t i nu ed oblig a- t io n of lessee an d t h e s ur e t y t o m a k e a ll p ay m e n t s d u e, i n xx x xx x x an...
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Consolidation of leases. If Tenant under this Lease and tenant(s) under one or more leases of any other Phases of the Site shall with the consent of the respective Mortgagees of the leases of such Phases request consolidation of their respective leases into a single lease, Lessor hereby agrees to permit such consolidation and to execute a consolidated lease providing a single Base Rent and property description and otherwise on substantially the same terms as are provided in the separate leases which are consolidated.
Sample 1
Consolidation of leases. In connection with, or at any time following, the confirmation and implementation of the Conforming Bankruptcy Plan, upon Landlord's prior request, Tenant will enter into amendments to, amendments and restatements or a consolidated replacement of, the Lease and the Companion Lease for the combined Premises under the Lease and the "Premises" under the Companion Lease (the "Consolidated Lease"). The Consolidated Lease shall be on the same aggregate economic terms and for the same Term, including Renewal Terms, as the Lease and Companion Lease, provided that (a) the spread over the 10-Year U.S. Treasury Rate used to calculate Renewal Term Minimum Rent shall be the weighted average (based on the Landlord's Investment under each such lease) of the spreads set forth in Section 2.3 of each lease; (b) the occupancy, use and coverage covenants set forth in Sections 7.1(a), (b) and (c) and Section 7.4 of the leases shall be governed by the corresponding provisions of the Companion Lease, and (c) the terms and provisions of the Companion Lease shall govern and control with respect to any other inconsistency between the leases. Upon the Consolidated Lease becoming effective, any Event of Default then existing and arising solely under Section 7.4 of the Lease shall be deemed cured, provided that the tenant under the Consolidated Lease would not then be in default under the corresponding provision of the Consolidated Lease. To the extent not materially and adversely disadvantaged, Landlord will agree to such reasonable provisions in the Consolidated Lease and related documentation as may be requested by Tenant in order to preserve the priority of Tenant's leasehold estates under the Lease and Companion Lease and the effectiveness of Tenant's policies of leasehold title insurance issued in connection with the Lease and Companion Lease. Landlord and Tenant shall each bear their own costs and expenses with respect to the consolidation of the Lease and the Companion Lease into the Consolidated Lease.
Sample 1
Consolidation of leases. The following suites currently leased by Lessee shall be incorporated into the one Master Lease defined herein, dated January 21, 1995, for which the terms and conditions of the lease shall remain the same, except for the terms defined herein and incorporated thereto. The PREMISES and Square Feet are defined as: Suite: Rentable Square Feet: ----- -------------------- 205 434 202 2,000 210 1,124 300 2,361 310 825 350 1,835 ----- Total: 8,579 -----
Sample 1
Consolidation of leases. L e a ses m a y be co n solid a t ed u po n w r i tt e n r eq u es t of t h e xxxxxx filed wi t h t h e S x x x x Di r ec t o r Al a s k a , B ur e a u of La n d M x x x ge m e n t . T h e r eq u es t s h a ll ide n t ify e a c h le a se i n volved b y se r i a l nu m be r a n d s h a ll expl a i n t h e fa c t o r s w h ic h j u s t ify t h e co n solid a t io n . I n-
Sample 1
Consolidation of leases. BLM may approve consolidation of leases if we determine that there is suf- ficient justification and it is in the public interest. Each application for a consolidation of leases must include payment of the processing fee found in the fee schedule in § 3000.12 of this chapter. Each application for xxxxxxx- dation of leases shall be considered on its own merits. Leases to different les- sees for different terms, rental and xxx- xxxx rates, and those containing provi- sions required by law that cannot be reconciled, shall not be consolidated. The effective date of a consolidated lease shall be that of the oldest lease involved in the consolidation. [53 FR 17355, May 16, 1988, as amended at 70 FR 58874, Oct. 7, 2005] SOURCE: 53 FR 17355, May 16, 1988, unless otherwise noted.
Sample 1
Consolidation of leases. Effective as of the Extended Term Commencement Date (as defined hereinafter) that certain Lease Agreement dated November 11, 1992, as amended by the First Amendment to Lease dated June 30, 1995, for the occupancy of Suite 420 in the Building, consisting of approximately 5,952 rentable square feet, as shown on the area indicated on Exhibit "A" attached hereto, and made a part hereof, shall be terminated and of no further force or effect, and Suite 420 shall be added to the "Demised Premises" as defined hereinabove, and Tenant shall continue to occupy Suite 420 in accordance with the terms of the Lease. Therefore, effective as of the Extended Term Commencement Date, the Demised Premises shall consist of approximately 60,329 rentable square feet. Further, effective as of the Extended Term Commencement Date, the Amendments and the Lease Rider attached to the Initial Lease shall be deleted in their entirety and shall be of no further force or effect.
Sample 1
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Consolidation of leases. (a) The Landlords and Tenant hereby agree that, effective with the execution and delivery of this Agreement by each of the parties hereto, the Leases shall be consolidated into a single instrument and shall for all purposes be deemed and construed to be a single lease affecting all of the Properties subject to the Leases. (b) Without limiting the generality of Section 2(a) above: (i) the rights and remedies, and duties and obligations, of each of the Landlords under each of the Leases, shall inure to the benefit of, and be binding upon, each of the Landlords, (ii) the rights and remedies, and duties and obligations, of Tenant under each of the Leases shall inure to the benefit of Tenant, and be binding upon, Tenant, and (iii) a default on the part of Tenant or any Landlord to perform its obligations under any of the Leases shall constitute the default of Tenant or the Landlords, respectively, under all of the Leases.
Sample 1

Related to Consolidation of leases

  • ROOM CONSOLIDATION Residence assignments shall be consolidated when vacancies occur in any residence facility, to minimize the number of rooms, suites, and/or apartments not at full occupancy. The Student may be required to change residence assignment and move to facilitate room consolidation. Residents in rooms/apartments/suites not at full capacity may be charged additional rent as determined by UCF DHRL.

  • Non-Consolidation The Borrower shall at all times act in a manner such that each of the assumptions made by Xxxxxxx Xxxx & Xxxxx LLP in their opinion delivered pursuant to Section 3.1(f)(ii) is true and accurate in all material respects. The Borrower shall at all times observe and be in compliance in all material respects with all covenants and requirements in the Borrower LLC Agreement.

  • Merger or Consolidation of, or Assumption of the Obligations ------------------------------------------------------------ of, Seller. Any Person (a) into which the Seller may be merged or consolidated, ---------- (b) which may result from any merger or consolidation to which the Seller shall be a party or (c) which may succeed to the properties and assets of the Seller substantially as a whole, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, shall be the successor to the Seller hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that (i) the Seller shall have received the written consent of the Insurer prior to entering into any such transaction, (ii) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.1 shall have been breached and no Servicer Termination Event, and no event which, after notice or lapse of time, or both, would become a Servicer Termination Event shall have happened and be continuing, (iii) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Insurer an Officers' Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, (iv) the Rating Agency Condition shall have been satisfied with respect to such transaction and (v) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Collateral Agent, the Trustee and the Insurer an Opinion of Counsel stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Trust Collateral Agent, the Owner Trustee and the Trustee, respectively, in the Receivables and reciting the details of such filings or (B) no such action shall be necessary to preserve and protect such interest. Notwithstanding anything herein to the contrary, the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii), (iv) and (v) above shall be conditions to the consummation of the transactions referred to in clauses (a), (b) or (c) above.

  • Merger or Consolidation Section 8.11

  • Merger, Consolidation, Succession or Assignment Any Person (a) into which the Administrator is merged or consolidated, (b) resulting from a merger or consolidation to which the Administrator is a party, (c) succeeding to the Administrator’s business or (d) that is an Affiliate of the Administrator to whom the Administrator has assigned this Agreement, will be the successor to the Administrator under this Agreement. Such Person will execute and deliver to the Issuer, the Owner Trustee and the Indenture Trustee an agreement to assume the Administrator’s obligations under this Agreement (unless the assumption happens by operation of law).

  • Merger or Consolidation of the Seller The Seller will keep in full effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation except as permitted herein, and will obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its duties under this Agreement. Any Person into which the Seller may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Seller shall be a party, or any Person succeeding to the business of the Seller, shall be the successor of the Seller hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving Person shall have a net worth of at least $25,000,000.

  • Consolidation Merger Sale Conveyance and Lease SECTION 10.01. Company May Consolidate, etc.,

  • Merger or Consolidation of the Company The Company shall keep in full effect its existence, rights and franchises as a corporation, and shall obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement or any of the Mortgage Loans and to perform its duties under this Agreement. Any person into which the Company may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Company shall be a party, or any Person succeeding to the business of the Company, shall be the successor of the Company hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, provided, however, that the successor or surviving Person shall be an institution (i) having a net worth of not less than $25,000,000, (ii) whose deposits are insured by the FDIC through the BIF or the SAIF, and (iii) which is a Xxxxxx Xxx and Xxxxxxx Mac-approved company in good standing.

  • Consolidation of Future Advances Any future advances made prior to the related Cut-off Date have been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term. The lien of the Mortgage securing the consolidated principal amount is expressly insured as having first lien priority by a title insurance policy, an endorsement to the policy insuring the mortgagee's consolidated interest or by other title evidence acceptable to Xxxxxx Xxx or Xxxxxxx Mac. The consolidated principal amount does not exceed the original principal amount of the Mortgage Loan;

  • Merger or Consolidation of Trustee Any corporation into which the Trustee may be merged or converted or with which it may be consolidated or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to the business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be eligible under the provisions of Section 8.06 hereof without the execution or filing of any paper or further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.

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