Demised Premises. Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below (individually and collectively, as the context may require, as one economic unit, the “Demised Premises”), further subject to the terms, covenants and conditions in Section 1.1(d)-(f) below: (i) Prior to the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”); (i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date, as applicable), including, as applicable, the Store, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d); (c) All equipment, machinery, fixtures, and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d); (d) The Demised Premises is leased together with and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of the Demised Premises or any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and (e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect thereto.
Appears in 3 contracts
Samples: Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties), Master Lease (Seritage Growth Properties)
Demised Premises. Upon and subject to the terms and conditions hereinafter herein set forth, Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, for the Term all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below (individually and and/or collectively, as the context may require, as one economic unit, and as the same may be modified from time to time in accordance with (and subject to) the terms and provisions of this Lease, the “Demised Premises”), further subject to the terms, covenants and conditions in Section 1.1(d)-(f) below:):
(ia) Prior to the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy DateProperties, the portion of each individual Property land on which the Store and all Leased Improvements (as hereinafter defined) is Properties are located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”); provided, however, that if Tenant exercises a Tenant Option with respect to less than all of any applicable Tenant Option Property, then from and after the Partial Property Termination Date with respect to such Tenant Option Property, only the Tenant Retained Portion of such Tenant Option Property shall be included in the Demised Premises;
(i) all buildings, structures, Fixtures (as hereinafter defined) structures and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy any applicable Partial Property Termination Date, as applicable), including, as applicable, the StoreStores, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall malls to the extent located in the wall walls of a Store attached Stores or other such buildingbuildings and including, for the avoidance of doubt, the premises demised pursuant to the TBA Leases), together with (ii) prior to for each Property (but only for the Multi-Tenant Occupancy Retained Portion of any Tenant Option Property, from and after the Partial Property Termination Date (if any) with respect thereto), all tenements, hereditaments, easements, rights-of-way, and other rights and privileges in and to each individual Propertysuch Property or applicable Portion thereof, including (A) easements over any Shopping Centers or other adjacent third-party properties and other real property rights granted pursuant to any applicable Property Documents (including the non-exclusive right to use, in common with Landlord and any other users permitted under this Lease, any applicable Common Areas in accordance with this Lease and all alleyways applicable Property Documents), and (B) all sidewalks, walkways, alleyways, roadways, connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers such Shopping Centers or other third-party properties, sidewalks, utility pipes, conduits conduits, lines, vaults, gores and lines adjoining strips of land, service drives, parking xxxxxx, xxxxxxxxx, xxxxxxxx, parking lots and parking areas appurtenant to such buildings and structures (in each case, whether located on-site and or off-site site, to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All all equipment, machinery, fixtures, and other items of real or personal property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Land or the Leased Improvements and (ii) qualify as Long-Lived AssetsImprovements, together with all replacements, modifications, alterations and additions thereof or thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (collectively, the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto Parties to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereof or thereto; provided, however, that the foregoing shall exclude all items included within constituting Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);and
(d) The Demised Premises is leased together all plans, specifications, drawings, permits, rights and warranties with and shall be subject respect to all each Property. Notwithstanding anything to the contrary contained herein, (A) except to the extent otherwise expressly set forth in this Lease (including in the definition of the following (individually“Common Areas”), an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of the Demised Premises or shall not include any portion thereof or Common Areas that are located outside of the Property (but Tenant shall have the non-exclusive right to use, in common with Landlord and any interest thereinother users permitted under this Lease, whether or not of record, (ii) all Operating Agreements identifying any applicable Common Areas in accordance with this Lease and all covenants, conditions, restrictions, declarations, easements, rights of way, rights applicable Property Documents) and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvements, the Common Areas or affecting (B) Landlord leases the Demised Premises as of to Tenant subject only to the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, it being agreed that Landlord shall not not, from and after the date of this Master Lease without Tenant’s prior written consent Commencement Date, further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Financing and/or Landlord Mortgage Financing Documents, subject to the applicable terms and provisions of Article XIV, or other than encumbrances expressly permitted under this Lease) in if such a manner as encumbrance would materially interfere with Tenant’s use(1) have any material adverse effect on ingress or egress to or from, occupancy or operation of the visibility of, the applicable Demised Premises or materially (2) increase in any material respect Tenant’s obligations (unless such increased obligations are monetary and Landlord agrees for itself and its successors and assigns to be responsible for the cost of any such increased obligations), or liabilities or materially decrease in any material respect Tenant’s rights or remedies rights, under this Master Lease. For the avoidance of doubtLease or any applicable Property Documents or such encumbrance, Landlord shall have the right in its reasonable discretion exercised in good faith each case without Tenant’s prior written consent, which consent to grant, convey shall be granted or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements withheld in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements Tenant’s sole discretion in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy case of any encumbrance described in clause (1) above and all default notices and/or demands received by Landlord pursuant to shall be granted or withheld in Tenant’s commercially reasonable judgment in the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretocase of any encumbrance described in clause (2) above.
Appears in 2 contracts
Samples: Retail Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co Inc)
Demised Premises. Upon and subject to the terms and conditions hereinafter herein set forth, Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, for the Term all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below (individually and and/or collectively, as the context may require, as one economic unit, and as the same may be modified from time to time in accordance with (and subject to) the terms and provisions of this Lease, the “Demised Premises”), further subject to the terms, covenants and conditions in Section 1.1(d)-(f) below:):
(ia) Prior to the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy DateProperties, the portion of each individual Property land on which the Store and all Leased Improvements (as hereinafter defined) is Properties are located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”)) that does not constitute Excluded Land;
(b) (i) all buildings, structures, Fixtures (as hereinafter defined) structures and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date, as applicable)Land, including, as applicable, the StoreDistribution Centers, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to the extent located in the wall of a Store or other such building)thereto, together with (ii) prior to the Multi-Tenant Occupancy Date with respect to for each individual Property, all tenements, hereditaments, easements, rights-of-way, and other rights and privileges in and to such Property or applicable Portion thereof, including (A) easements over any adjacent third-party properties and other real property rights granted pursuant to any applicable Property Documents (including any Excluded Land Easements (as defined herein) and Excluded Land Co-Existence Agreements (as defined herein)) and (B) all alleyways and sidewalks, walkways, alleyways, roadways, connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other such third-party properties, sidewalks, utility pipes, conduits conduits, lines, steam lines, ducts, vaults, gores, service drives, loading docks, bays and lines platforms, parking xxxxxx, xxxxxxxxx, xxxxxxxx, parking lots and parking areas appurtenant to such buildings and structures (on-site and off-site in each case, to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All all equipment, machinery, fixtures, and other items of real or personal property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Land or the Leased Improvements and (ii) qualify as Long-Lived AssetsImprovements, together with all replacements, modifications, alterations and additions thereof or thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators lifts, motors, blowers and lifts and Environmental Equipment compressors (collectively, the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto Parties to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereof or thereto; provided, however, that the foregoing shall exclude all items included within constituting Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);and
(d) The Demised Premises is leased together all plans, specifications, drawings, permits, rights and warranties with and shall be subject respect to all of each Property. Notwithstanding anything to the following contrary contained herein, (individually, an “Encumbrance” and collectively, “Encumbrances”): (iA) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of the Demised Premises shall not include any Excluded Land and, for the avoidance of doubt (1) Tenant shall have no obligation to pay Rent or any utilities, impositions, insurance charges, operating expenses or other similar amounts payable with respect to any portion thereof or of the Excluded Land and (2) there shall be no restriction on Landlord’s right to enjoy, sell, finance or, except for any interest thereinexpress provision of this Lease applicable thereto, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under use the Operating Agreements and other matters relating to or appertaining to the Property, the Excluded Land, the Leased Improvements, the Common Areas or affecting and (B) Landlord leases the Demised Premises as of to Tenant subject only to the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, it being agreed that Landlord shall not not, from and after the date of this Master Lease without Tenant’s prior written consent Commencement Date, further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Financing and/or Landlord Mortgage Financing Documents, subject to the applicable terms and provisions of Article XIV, or other than encumbrances expressly permitted under this Lease) in if such a manner as encumbrance would materially interfere with Tenant’s use(1) have any material adverse effect on ingress or egress to or from, occupancy or operation of the visibility of, the applicable Demised Premises or materially (2) increase in any material respect Tenant’s obligations (unless such increased obligations are monetary and Landlord agrees for itself and its successors and assigns to be responsible for the cost of any such increased obligations), or liabilities or materially decrease in any material respect Tenant’s rights or remedies rights, under this Master Lease. For the avoidance of doubt, Landlord shall have the right any applicable Property Documents or such encumbrance, in its reasonable discretion exercised in good faith each case without Tenant’s prior written consent, which consent to grant, convey shall be granted or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements withheld in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements Tenant’s sole discretion in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy case of any encumbrance described in clause (1) above and all default notices and/or demands received by Landlord pursuant to shall be granted or withheld in Tenant’s commercially reasonable judgment in the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretocase of any encumbrance described in clause (2) above.
Appears in 2 contracts
Samples: Distribution Center Master Lease (Copper Property CTL Pass Through Trust), Distribution Center Master Lease (J C Penney Co Inc)
Demised Premises. Upon (a) Lessor demises and subject lets to Lessee and Lessee leases and takes from Lessor the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest grade level space outlined in and to the following assets and interests as described in Section 1.1(a)-(c) below red on Exhibit “A” attached hereto (individually and collectively, as the context may require, as one economic unit, the “Demised Premises”), further subject to the termsconsisting of a 14,391 square foot area, covenants and conditions in Section 1.1(d)-(f) below:
(i) Prior to the Multi-Tenant Occupancy Date with respect to each individual Propertyforming part of a structure erected, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) constituting part of the Common Areas (except Complex, outlined in black on Exhibit “B”, located at American Enterprise Park, 000 Xxxxxxxx Xxxx, Xxxxxx Xxxxxx, New Jersey 07950, and consisting of the Exclusive Store Areasland and all structures and improvements, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land land (“Complex”).
(b) The location and boundaries of the Complex outlined on Exhibit “B” set forth the general layout of the Complex, but shall not be deemed to be a representation or agreement on the part of the Lessor that the Complex will be as indicated on Exhibit “B”. Lessor reserves the Land may be constituted before right at any time to change the size, height, layout or after location of the Multi-Tenant Occupancy Datebuilding, walks, parking, loading and “Common Areas”, as applicable)defined in Article 6A hereof and/or other areas, includingnow or at any time hereafter forming a part of the Complex; to make alterations or additions to, as applicable, and to build additional stories and to add buildings to the Store, Complex and to designate other parcels of land to be added to the Complex; and to combine such other parcels including all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to thereon, with the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);Complex.
(c) All equipment, machinery, fixtures, Lessee’s right to use and other items occupy the Demised Premises during the Term shall include the right to use and occupy an Exclusive Outside Area as outlined in blue on Exhibit “B”. Lessee’s use and occupancy of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into such Exclusive Outside Area shall be governed by the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items provisions of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into Article 6 hereof. Lessee shall have the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, non exclusive right to the greatest extent permitted by law, are hereby deemed by use of sixty (60) automobile parking spaces located within the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);Complex.
(d) The Demised Premises is leased together with Lessee’s right to use and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of occupy the Demised Premises or any portion thereof or any interest thereinduring the Term shall include the right to use, whether or not in common with the other tenants of recordthe Complex and their customers, (ii) all Operating Agreements identifying guests, and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Propertyinvitees, the Land, the Leased Improvements, the Coty Lease 1 Bldg 100 032400 Final Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating AgreementsComplex, covenantsexcluding Lessee’s lobby which is exclusive to Lessee, conditions, restrictions, easements, declarations and other matters as may more fully set forth in Article 6 hereof.
(e) Nothing herein contained shall be agreed construed as a grant or demise by Lessor to by Landlord (Lessee of the roof or by Tenant, with Landlord’s prior reasonable consent) so long as exterior walls of the same do not adversely affect Complex or the Property and otherwise are consistent with land below the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey floor of the Demised Premises; provided, howeveror any part of the Complex exterior to the Demised Premises, that Landlord shall not or of the Common Areas.
(f) Lessor reserves from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages the right of reasonable ingress and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of egress through the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For to part of the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreementsComplex not hereby demised, and agreements in connection with utilitiesalso reserves space for pipes, storm ducts and sanitary sewers drainage wires, leading to and similar agreements, with governmental authorities and/or utility companies and which are from parts of the Complex not hereby demised for the benefit purpose of maintaining the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretoComplex.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Coty Inc /)
Demised Premises. Upon For and in consideration of the rent hereinafter ----------------- reserved and the mutual covenants hereinafter contained, Landlord does hereby lease and demise unto Tenant, and Tenant does hereby hire, lease and accept, from Landlord, that certain parcel of real property (the "Land") containing approximately 4.86 acres, which Land is situated in Farmers Branch, Texas, within Valwood Park (the "Project") and is more particularly described in Exhibit "A" attached hereto and by this reference made a part hereof, together ----------- with and including all buildings, structures, driveways, parking lots, walkways, landscaping and other appurtenances thereto and all other improvements, with the consent of Tenant, at anytime during the term of this Lease erected, or situated thereon including specifically, but, without limitation, a building (the "Building") to be constructed containing approximately 40,000 square feet of office and warehouse space of which approximately 10,000 square feet shall be office space and to be located on the Land as shown on Exhibit "A-1" attached ------------- hereto, and all other improvements including all driveways, parking lots, walkways, landscaping and other appurtenances thereto (collectively, the "Demised Premises") subject only to the matters on Exhibit "B" attached hereto ----------- (herein referred to as "Permitted Encumbrances"), all upon the terms and conditions hereinafter set forth. The Demised Premises including the Building shall be developed and constructed by Landlord substantially in accordance with the Preliminary Drawings prepared by Hardy XxXxxxxx/MLM Architects, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s rightInc., title and interest in and to the following assets and interests attached hereto as described in Section 1.1(a)-(c) below Exhibit "A-1" (individually and collectively, as the context may require, as one economic unitherein, the “Demised Premises”"Site Plan"); Exhibit "A-2" ------------- ------------- (herein, the "Floor Plan") and Exhibit "A-3" (herein, the "Elevation Plan"), further subject to and ------------- the terms, covenants and conditions in Section 1.1(d)-(f) below:
construction specifications attached hereto as Exhibit "A-4" (i) Prior to the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided hereinherein ------------- "Preliminary Construction Specifications"), collectively(the plans and specifications as shown on Exhibits "A-l" through "A-4" are herein, collectively the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined"Preliminary Plans") and other improvements in accordance with the terms of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date, as applicable), including, as applicable, the Store, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall Section 18 hereof. Except to the extent located in required to cause compliance with the wall provisions of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectivelyapplicable law, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All equipment, machinery, fixtures, Building and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(d) The Demised Premises is leased together with and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of improvements comprising the Demised Premises or any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under shall be located substantially as shown on the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretoSite Plan.
Appears in 1 contract
Samples: Build to Suit Industrial Lease Agreement (Wells Real Estate Fund Ix Lp)
Demised Premises. Upon (a) Lessor demises and subject lets to Lessee and Lessee leases and takes from Lessor the terms grade level space outlined in red on Exhibit “A” attached hereto and conditions hereinafter set forthmade a part hereof, Landlord leases to Tenant and Tenant leases from Landlord all the mezzanine space outlined in green on Exhibit “A” located above a portion of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below grade level space (individually and collectively, as the context may require, as one economic unit, the collectively called “Demised Premises”), further subject to the termsconsisting of a 15,890 square foot area, covenants and conditions in Section 1.1(d)-(f) below:
(i) Prior to the Multi-Tenant Occupancy Date with respect to each individual Propertywhich includes a 540 square foot lobby, all forming part of such Property and (ii) after the Multi-Tenant Occupancy Datea structure erected, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) constituting part of the Common Areas (except Complex, outlined in black on Exhibit “B”, located at American Enterprise Park, 000 Xxxxxxxx Xxxx, Xxxxxx Xxxxxx, New Jersey 07950, and consisting of the Exclusive Store Areasland and all structures and improvements, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land land (“Complex”).
(b) The location and boundaries of the Complex outlined on Exhibit “B” set forth the general layout of the Complex, but shall not be deemed to be a representation or agreement on the part of the Lessor that the Complex will be as indicated on Exhibit “B”. Lessor reserves the Land may be constituted before right at any time to change the size, height, layout or after location of the Multi-Tenant Occupancy Datebuilding, walks, parking, loading and “Common Areas”, as applicable)defined in Article 6A hereof, includingand/or other areas, as applicablenow or at any time hereafter forming a part of the Complex; to make alterations or additions to, and to build additional stories and to add buildings to the Store, Complex and to designate other parcels of land to be added to the Complex; and to combine such other parcels including all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to thereon, with the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);Complex.
(c) All equipment, machinery, fixtures, Lessee’s right to use and other items occupy the Demised Premises during the Term shall include the right to use and occupy an Exclusive Outside Area as outlined in blue on Exhibit “B”. Lessee’s use and occupancy of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into such Exclusive Outside Area shall be governed by the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items provisions of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into Article 6 hereof. Lessee shall have the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, exclusive right to the greatest extent permitted by law, are hereby deemed by use of twenty (20) automobile parking spaces located within the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);Complex.
(d) The Demised Premises is leased together with Lessee’s right to use and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of occupy the Demised Premises or any portion thereof or any interest thereinduring the Term shall include the right to use, whether or not in common with the other tenants of recordthe Complex and their customers, (ii) all Operating Agreements identifying guests, and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvementsinvitees, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating AgreementsComplex, covenantsexcluding Lessee’s lobby which is exclusive to Lessee,, conditions, restrictions, easements, declarations and other matters as may more fully set forth in Article 6 hereof.
(e) Nothing herein contained shall be agreed construed as a grant or demise by Lessor to by Landlord (Lessee of the roof or by Tenant, with Landlord’s prior reasonable consent) so long as exterior walls of the same do not adversely affect Complex or the Property and otherwise are consistent with land below the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey floor of the Demised Premises; provided, howeveror any part of the Complex exterior to the Demised Premises, that Landlord shall not or of the Common Areas.
(f) Lessor reserves from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages the right of reasonable ingress and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of egress through the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For to part of the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreementsComplex not hereby demised, and agreements in connection with utilitiesalso reserves space for pipes, storm ducts and sanitary sewers drainage wires, leading to and similar agreements, with governmental authorities and/or utility companies and which are from parts of the Complex not hereby demised for the benefit purpose of maintaining the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretoComplex.
Appears in 1 contract
Samples: Lease Agreement (Coty Inc /)
Demised Premises. Upon and subject Subject to the terms and conditions hereinafter set forth, Landlord, for and in consideration of the Rents hereinafter reserved by Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below (individually and collectively, as the context may require, as one economic unit, the “Demised Premises”), further subject to the terms, covenants covenants, conditions, and conditions in Section 1.1(d)-(f) below:
(i) Prior agreements herein contained on the part of Tenant to be paid, kept and performed, hereby agrees to and effective upon the Multi-Tenant Occupancy Commencement Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excludingshall lease, in each caserent, let and demise to Tenant, and Tenant does hereby agree to and effective upon the Commencement Date shall take and hire from Landlord, all real property which is those certain lots, parcels, or pieces of land situate, lying and being in the State of Illinois, as the same are more particularly described in Exhibit "A" annexed hereto and hereby made a part hereof (ythe "Land") subject together with the Building, the buildings, structures and improvements now or hereafter erected on, over or under the Land, including all walkway, road and parking area improvements and facilities, landscaping improvements of whatever nature, utility and sewage lines (to a Lease the extent of Landlord's interest therein) and all appurtenances, fixtures and other facilities used in connection with the operation or occupancy of the Demised Premises (as hereinafter herein defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectivelyand all alterations and additions thereto and restorations and replacements thereof, (collectively the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined"Improvements") and apparatus, appliances, appurtenances, devices, equipment, fixtures, furniture, furnishings, machinery and other improvements articles of personal property of every kind and nature whatsoever now or hereafter owned by Landlord and located on or at the Demised Premises and necessary or useful for or used in connection with the operation and maintenance of the Demised Premises or any part thereof, together with all additions thereto, replacements thereof and substitutions therefor made by Tenant during the Term, and any and all personal property and other tangible property owned by Landlord and now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date, as applicable), including, as applicable, the Store, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All equipment, machinery, fixtures, and other items of property, including all components thereof, that (i) are now or hereafter located in, on or Demised Premises and/or used in connection with and permanently affixed to the operation or otherwise incorporated into maintenance thereof (collectively the Leased "Equipment"). The Land, the Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(d) The Demised Premises is leased together with and shall be subject collectively referred to all of herein as the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, "Demised Premises" or other matter whatsoever affecting title to any of "Property." In no event shall the Demised Premises be deemed to include the business or any portion thereof those fixtures, equipment or any interest thereinfurnishings owned and heretofore or hereafter installed by Parker Hannifin Corporation, whether or the tenant in occupancy of the Property on the date hereof ("PHC"). The foregoing notwithstanding, upon Tenant's written request made not of recordlater than November 1, (ii) all Operating Agreements identifying and all covenants1997, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating Landlord shall direct PHC to or appertaining cause those alterations made by PHC to the PropertyDemised Premises, which are described in Tenant's request (the Land, the Leased Improvements, the Common Areas or affecting "PHC Alterations") to remain in the Demised Premises as upon the termination of its lease. Tenant agrees that prior to the expiration of the Commencement Date Lease Term, it shall remove the PHC Alterations and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber restore the Demised Premises (other than under or in connection with any Landlord Mortgages to its original condition at its sole cost and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretoexpense.
Appears in 1 contract
Samples: Lease Agreement (Stimsonite Corp)
Demised Premises. Upon (a) Lessor demises and subject lets to Lessee and Lessee leases and takes from Lessor the terms premises outlined in red on Exhibit “A” attached hereto and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below made a part hereof (individually and collectively, as the context may require, as one economic unit, the “Demised Premises”), further subject to consisting of a 66,000 square foot three story facility, located at 00 Xxxxxxxxx Xxxxxxxxx, Xxxxxx, Xxxxxxxxxxx, constituting the terms, covenants entire Complex and conditions in Section 1.1(d)-(f) below:
(i) Prior to consisting of the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store land and all Leased Improvements (as hereinafter defined) is located (but excludingstructures and improvements, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date“Complex”), as applicable)outlined on in black on Exhibit B.
(b) The location and boundaries of the Complex outlined on Exhibit “B” set forth the general layout of the Complex, includingbut shall not be deemed to be a representation or agreement on the part of Lessor that the Complex will be as indicated on Exhibit “B”. Lessor reserves the right at any time to change the size, height, layout or location of the building, walks, parking, and loading, as applicabledefined in Article 6A hereof, and/or other areas, now or at any time hereafter forming a part of the StoreComplex; to make alterations or additions to, and to build additional stories and to add buildings to the Complex and to designate other parcels of land to be added to the Complex; and to combine such other parcels including all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to thereon, with the extent located Complex, provided that in no event shall any such changes, alterations or additions materially effect Lessee’s business operations on the wall of a Store Demised Premises or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);access thereto.
(c) All equipmentLessee’s right to use and occupy the Demised Premises during the Term shall include the right to use and occupy an Exclusive Outside Area as outlined in blue on Exhibit “A”. Lessee’s use and occupancy of such Exclusive Outside Area shall be governed by the provisions of Article 6 hereof. This Exclusive Outside Area contains one (1) truck and loading docks. Additionally, machinery, fixtures, and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into Lessee shall have the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, exclusive right to the greatest extent permitted by lawuse of all building designated automobile parking spaces located within the Complex, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined outlined in Treasury Regulations § 1.856-3(d);blue on Exhibit B.
(d) The Demised Premises is leased together with and Nothing herein contained shall be subject construed as a grant or demise by Lessor to all Lessee of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, roof or other matter whatsoever affecting title to any exterior walls of the Demised Premises Complex or any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to land below the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey floor of the Demised Premises; provided, however, that Landlord shall not from and after or any part of the date of this Master Lease without Tenant’s prior written consent further encumber Complex exterior to the Demised Premises (other than under Premises, or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubtCommon Areas, Landlord shall have the right except as specified in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); andLease Article 32.
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to Lessor reserves from the Demised Premises the right of reasonable ingress and keep Tenant reasonably apprised with respect theretoegress through the Demised Premises to part of the Complex not hereby demised, and also reserves space for pipes, ducts and wires, leading to and from parts of the Complex not hereby demised.
Appears in 1 contract
Demised Premises. Upon (a) Landlord demises and subject to the terms and conditions hereinafter set forth, Landlord leases lets to Tenant and Tenant leases and takes from Landlord all of Landlord’s right, title the second- floor space shown in crosshatching on Exhibit “A” attached hereto and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below made a part hereof (individually and collectively, as the context may require, as one economic unit, the called “Demised Premises”), further subject to the termsconsisting of a 45,526 rentable square foot area, covenants and conditions in Section 1.1(d)-(f) below:
(i) Prior to the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) forming part of the Building located at the Complex,
(b) The location and boundaries of the Complex outlined on Exhibit “B” set forth the general layout of the Complex, but shall not be deemed to be a representation or agreement on the part of Landlord that the Complex will be as indicated on Exhibit “B”. Landlord reserves the right at any time to change the size, height, layout or location of the building, walks, parking, loading and Common Areas (except the Exclusive Store Areasand/or other areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or at any time hereafter located on forming a part of the Land (as Complex; to make alterations or additions to, and to build additional stories and to add buildings to the Land may Complex and to designate other parcels of land to be constituted before or after added to the Multi-Tenant Occupancy Date, as applicable), including, as applicable, the Store, Complex; and to combine such other parcels including all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways thereon, with the Complex provided same does not unreasonably interfere with Tenant’s access to an adjacent mall to or use of the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);Demised Premises.
(c) All equipment, machinery, fixtures, Tenant’s right to use and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with occupy the Demised Premises during the Term shall include the right to use and permanently affixed to or otherwise incorporated occupy the loading docks leading into the Leased Improvements and (ii) qualify as LongDemised Premises. Additionally, Tenant shall have the non-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, exclusive right to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within use of Tenant’s Property; providedShare of automobile parking spaces located within the Complex, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);open and unassigned.
(d) The Demised Premises is leased together with Tenant’s right to use and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of occupy the Demised Premises or any portion thereof or any interest thereinduring the Term shall include the right to use, whether or not in common with the other tenants of recordthe Complex and their customers, (ii) all Operating Agreements identifying guests, and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvementsinvitees, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating AgreementsComplex, covenants, conditions, restrictions, easements, declarations and other matters as may more fully set forth in Section 6 hereof.
(e) Nothing herein contained shall be agreed to construed as a grant or demise by Landlord (to Tenant of the roof or by Tenant, with Landlord’s prior reasonable consent) so long as exterior walls of the same do not adversely affect Complex or the Property and otherwise are consistent with land below the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey floor of the Demised Premises; provided, howeveror any part of the Complex exterior to the Demised Premises, that or of the Common Areas.
(f) Landlord shall not reserves from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages the right of reasonable ingress and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of egress through the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For to part of the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreementsComplex not hereby demised, and agreements in connection with utilitiesalso reserves space for pipes, storm ducts and sanitary sewers drainage wires, leading to and similar agreements, with governmental authorities and/or utility companies and which are for the benefit from parts of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretoComplex not hereby demised.
Appears in 1 contract
Samples: Lease Agreement (CompoSecure, Inc.)
Demised Premises. Upon For and in consideration of the rent hereinafter reserved and the mutual covenants hereinafter contained, Landlord does hereby lease and demise unto Tenant, and Tenant does hereby hire, lease and accept, from Landlord, that certain parcel of real property more particularly described in Exhibit "A" attached hereto and by this reference made a part hereof (the "Land") situated in Plano Business Park (the "Project"), located in Collin County, Texas, together with and including all buildings, structures, driveways, parking lots, walkways, landscaping and other appurtenances thereto and all other improvements, with the consent of Tenant, at anytime during the term of this Lease erected, or situated thereon including specifically, but, without limitation, a building (the "Building") to be constructed containing approximately 100,000 square feet (measured on a "drip-line" basis from the outside of the exterior walls of the Building) of office and warehouse space, of which approximately 14,800 square feet shall be office space and to be located on the Land as shown on Xxxxxxx "X- 0" xxxxxxxx hereto, and all other improvements including all driveways, parking lots, walkways, landscaping and other appurtenances thereto (collectively, the "Demised Premises") subject only to the matters on Exhibit "B" attached hereto and the Protective Covenants attached hereto as Exhibit "D", which will be amended following the Lease Date to include the Property (herein referred to collectively as "Permitted Encumbrances"), all upon the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c) below (individually and collectively, as the context may require, as one economic unit, the “Demised Premises”), further subject to the terms, covenants and conditions in Section 1.1(d)-(f) below:
(i) Prior to the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date, as applicable), including, as applicable, the Store, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All equipment, machinery, fixtures, and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(d) . The Demised Premises is leased together with and including the Building shall be subject to all of the following (individually, an “Encumbrance” developed and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of the Demised Premises or any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to constructed by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent substantially in accordance with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect thereto.Preliminary Drawings prepared by
Appears in 1 contract
Demised Premises. Upon 2.1 Landlord, in consideration of the rents to be paid and the covenants to be performed by Tenant, and upon and subject to the terms and conditions hereinafter provisions herein set forth, Landlord leases to does hereby lease unto Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest in and to the following assets and interests as Demised Premises described in Section 1.1(a)-(c1(f) below hereof together with the non-exclusive right and easement to use the exterior and interior common and public areas and facilities which may from time-to-time be furnished by Landlord, including parking areas and decks (individually other than the enclosed parking garage except as provided in Article 30 hereof), in common with Landlord and collectivelythe tenants and occupants (their agents, employees, customers and invitees) of the Building and of adjacent buildings now or hereafter constructed such exterior and interior common areas and facilities to be hereinafter referred to as the context may require"common areas").
2.2 Landlord reserves the right (a) to designate certain parking areas for the exclusive use of designated tenants or for short term parking, as one economic unit(b) to make changes, alterations, additions, improvements, repairs or replacements in or to the “Building (including the Demised Premises”)) and the fixtures and equipment thereof as well as the interior and exterior common areas, further subject including the construction of additional buildings and parking decks; (c) to eliminate, substitute and/or rearrange the termsinterior and exterior common areas as Landlord deems appropriate in its discretion, covenants and conditions (d) to erect, maintain and use pipes, ducts, conduits and wires in and through the Demised Premises in locations which will not materially interfere with Xxxxxx's use thereof. Notwithstanding the foregoing, Landlord shall not exercise any right under the preceding sentence of this Section 1.1(d)-(f) below:
2.2 in such a manner so as to unreasonably interfere with (i) Prior Tenant's use of the Demised Premises, (ii) Tenant's ingress to, and egress from, the Demised Premises, or (iii) Tenant’s access to the Multiparking areas adjacent to the Building.
2.3 Tenant and its employees and invitees shall have access to the Demised Premises twenty-Tenant Occupancy Date with respect four (24) hours per day, seven (7) days per week, provided that (i) during non-business hours, access to each individual Propertythe Building shall be limited to the east entrance (facing Xxxxxxxx Highway), all of such Property and (ii) after any person entering the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, Building will be required to sign in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Date, as applicable), including, as applicable, the Store, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All equipment, machinery, fixtures, and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(d) The Demised Premises is leased together with and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of the Demised Premises or any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms security guard and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretoshow photo identification.
Appears in 1 contract
Demised Premises. Upon For and in consideration of the rent hereinafter reserved and the mutual covenants hereinafter contained, Landlord does hereby lease and demise unto Tenant, and Tenant does hereby hire, lease and accept, from Landlord, that certain parcel of real property more particularly described in EXHIBIT "A" attached hereto and by this reference made a part hereof (the "Land") situated in Shawnee Ridge (the "Project"), located in Gwinnett County, Georgia, together with and including all buildings, structures, driveways, parking lots, walkways, landscaping and other appurtenances thereto and all other improvements, with the consent of Tenant, at anytime during the term of this Lease erected, or situated thereon including specifically, but, without limitation, a building (the "Building") to be constructed containing approximately 360,675 square feet of office and warehouse space, of which approximately 43,000 square feet shall be office and warehouse office space and to be located on the Land as shown on EXHIBIT "A-1" attached hereto, and all other improvements including all driveways, parking lots, walkways, landscaping and other appurtenances thereto and whatever right, title and interest Landlord may have to any public sidewalks and the center line of any public street, and the non-exclusive benefits of any easements, rights of way or licenses Landlord may have over other properties (collectively, the "Demised Premises") subject only to (i) taxes for the year in which the Lease Date occurs and all subsequent years, (ii) all matters of record as of the Lease Date , and (iii) all matters that would be disclosed by an accurate survey of the Demised Premises as of the Lease Date (herein referred to as "Permitted Encumbrances"), all upon the terms and conditions hereinafter set forth. The Demised Premises including the Building shall be developed and constructed by Landlord substantially in accordance with the Preliminary Drawings prepared by MacGregor Associates Architects, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s rightInc., title and interest in and to the following assets and interests attached hereto as described in Section 1.1(a)-(c) below EXHIBIT "A-1" (individually and collectively, as the context may require, as one economic unitherein, the “Demised Premises”"Site Plan"); EXHIBIT "A-2" (herein, the "Floor Plan") and EXHIBIT "A-3" (herein, the "Elevation Plan"), further subject to and the termsconstruction specifications attached hereto as EXHIBIT "A-4" (herein "Preliminary Construction Specifications"), covenants (the plans and conditions in Section 1.1(d)-(f) below:
(i) Prior to specifications as shown on Exhibits "A-l" through "A-4" are herein, collectively the Multi-Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding"Preliminary Plans"), in each caseaccordance with the terms of Section 18 hereof, and, to Landlord's actual knowledge, in material compliance with all real property which is (y) subject to a Lease (as hereinafter defined) applicable laws in effect as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Occupancy Lease Date, as applicable), including, as applicable, the Store, all free-standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall . Except to the extent located in required to cause compliance with the wall provisions of a Store or other such building), together with (ii) prior to the Multi-Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party properties, sidewalks, utility pipes, conduits and lines (on-site and off-site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectivelyapplicable law, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(c) All equipment, machinery, fixtures, Building and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Leased Improvements and (ii) qualify as Long-Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- and water-pollution-control, waste-disposal, air-cooling and air-conditioning systems and apparatus, security systems, sprinkler systems and fire- and theft-protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d);
(d) The Demised Premises is leased together with and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of improvements comprising the Demised Premises or shall be located substantially as shown on the Site Plan. Tenant shall be given prior notice of any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining changes to the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and Site Plan required to cause such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect theretocompliance.
Appears in 1 contract
Samples: Industrial Lease Agreement (Global Directmail Corp)
Demised Premises. Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord’s right, title and interest in and to the following assets and interests as described in Section 1.1(a)-(c1.1(a)‑(c) below (individually and collectively, as the context may require, as one economic unit, the “Demised Premises”), further subject to the terms, covenants and conditions in Section 1.1(d)-(f1.1(d)‑(e) below:
(i) Prior to the Multi-Tenant Multi‑Tenant Occupancy Date with respect to each individual Property, all of such Property and (ii) after the Multi-Tenant Multi‑Tenant Occupancy Date, the portion of each individual Property on which the Store and all Leased Improvements (as hereinafter defined) is located (but excluding, in each case, all real property which is (y) subject to a Lease (as hereinafter defined) as of the date hereof or (z) part of the Common Areas (except the Exclusive Store Areas, as hereinafter defined) (subject to Tenant’s rights to use the Common Areas as provided herein), collectively, the “Land”);
(i) all buildings, structures, Fixtures (as hereinafter defined) and other improvements of every kind now or hereafter located on the Land (as the Land may be constituted before or after the Multi-Tenant Multi‑Tenant Occupancy Date, as applicable), including, as applicable, the Store, all free-standing free‑standing buildings and all other buildings and improvements connected thereto (including all physical entranceways to an adjacent mall to the extent located in the wall of a Store or other such building), together with (ii) prior to the Multi-Tenant Multi‑Tenant Occupancy Date with respect to each individual Property, (A) all alleyways and connecting tunnels, passageways and entranceways to any adjacent malls, shopping centers or other third-party third‑party properties, sidewalks, utility pipes, conduits and lines (on-site on‑site and off-site off‑site to the extent Landlord has any interest in the same), and (B) all parking areas and roadways appurtenant to such buildings and structures (collectively, the “Leased Improvements”); provided, that “Leased Improvements” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d1.856‑3(d);
(c) All equipment, machinery, fixtures, and other items of property, including all components thereof, that (i) are now or hereafter located in, on or used in connection with and permanently affixed to or otherwise incorporated into the Leased Improvements and (ii) qualify as Long-Lived Long‑Lived Assets, together with all replacements, modifications, alterations and additions thereto, and other items of real and/or personal property, including all components thereof, now and hereafter located in, on or used in connection with, and permanently affixed to or incorporated into the Leased Improvements, including all HVAC equipment, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air- air‑ and water-pollution-controlwater‑pollution‑control, waste-disposalwaste‑disposal, air-cooling air‑cooling and air-conditioning air‑conditioning systems and apparatus, security systems, sprinkler systems and fire- fire‑ and theft-protection theft‑protection equipment, elevators, escalators and lifts and Environmental Equipment (the “Fixtures”), all of which, to the greatest extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all equipment, parts and supplies used to service, repair, maintain and equip the foregoing and all replacements, modifications, alterations and additions thereto; provided, that the foregoing shall exclude all items included within Tenant’s Property; provided, further, that “Fixtures” shall exclude any asset not constituting “real property” as that term is defined in Treasury Regulations § 1.856-3(d1.856‑3(d);
(d) The Demised Premises is leased together with and shall be subject to all of the following (individually, an “Encumbrance” and collectively, “Encumbrances”): (i) any mortgage, deed of trust, lien, charge, pledge, improvisation, security interest, defect in title, encroachment, or other matter whatsoever affecting title to any of the Demised Premises or any portion thereof or any interest therein, whether or not of record, (ii) all Operating Agreements identifying and all covenants, conditions, restrictions, declarations, easements, rights of way, rights and obligations under the Operating Agreements and other matters relating to or appertaining to the Property, the Land, the Leased Improvements, the Common Areas or affecting the Demised Premises as of the Commencement Date and such subsequent Operating Agreements, covenants, conditions, restrictions, easements, declarations and other matters as may be agreed to by Landlord (or by Tenant, with Landlord’s prior reasonable consent) so long as the same do not adversely affect the Property and otherwise are consistent with the terms and conditions of this Master Lease, in each case whether or not of record, and (iii) all Permitted Encumbrances, including any matters which would be disclosed by an inspection or accurate survey of the Demised Premises; provided, however, that Landlord shall not from and after the date of this Master Lease without Tenant’s prior written consent further encumber the Demised Premises (other than under or in connection with any Landlord Mortgages and Landlord Mortgage Documents, subject to the provisions of Article XIV) in such a manner as would materially interfere with Tenant’s use, occupancy or operation of the Demised Premises or materially increase Tenant’s obligations or liabilities or materially decrease Tenant’s rights or remedies under this Master Lease. For the avoidance of doubt, Landlord shall have the right in its reasonable discretion exercised in good faith without Tenant’s consent to grant, convey or enter into easements, covenants, restrictions, declarations, rights of way agreements, agreements in lieu of condemnation, street widening or improvement or traffic control or other similar agreements, and agreements in connection with utilities, storm and sanitary sewers drainage and similar agreements, with governmental authorities and/or utility companies and which are for the benefit of the Demised Premises or the Property or Common Areas (together with all further encumbrances which may be consented to by Tenant, “Further Encumbrances”); and
(e) Landlord shall, within a reasonable time after receipt thereof, forward to Tenant a copy of any and all default notices and/or demands received by Landlord pursuant to the Operating Agreements with respect to the Demised Premises and keep Tenant reasonably apprised with respect thereto.
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