Direct Lease Sample Clauses
A Direct Lease clause establishes a leasing arrangement in which the lessor (owner) leases an asset directly to the lessee (user), without involving intermediaries or third parties. In practice, this means the lessee makes payments and receives rights to use the asset directly from the lessor, and all obligations, such as maintenance or insurance, are typically outlined in the lease agreement between these two parties. The core function of this clause is to simplify the leasing process, ensuring clear lines of responsibility and communication, and reducing potential complications that can arise from third-party involvement.
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Direct Lease. In the event the Master Lease is terminated prior to the expiration of the Sublease Term, whether as a result of a voluntary termination by Sublandlord or a default on the part of Sublandlord, this Sublease shall, upon notice from Master Landlord to Subtenant, remain in full force and effect as a direct lease between Subtenant and Master Landlord (in which event Subtenant shall attorn to Master Landlord).
Direct Lease. Sublessor shall use its commercially reasonable best efforts to assist Sublessee if Sublessee elects to enter into a new lease with the Prime Landlord, and shall work to reasonably accommodate Sublessee’s preference to execute a new lease and have a direct relationship with the Prime Landlord.
Direct Lease. It is acknowledged that Assignee is entering into a Lease for Suite 520 with Landlord (the “Direct Lease”).
Direct Lease. Subtenant shall undertake reasonable, affirmative good faith efforts to secure a direct lease of the subject Premises with Master Landlord. Sublandlord desires to terminate its obligations under the Master Lease and Subtenant is willing to permit such termination if (but only if) Master Landlord enters into a direct lease of the Master Premises with Subtenant on the same terms as this Sublease and on such other terms as may be acceptable to Subtenant in its sole and absolute discretion. Subtenant shall have no liability to Sublandlord in the event it does not effect or execute a direct lease with the Master Landlord and any such termination of the Master Lease shall be expressly conditioned on the execution of a direct lease between Subtenant and Master Landlord.
Direct Lease. Upon an attornment as set forth in Section 23.c. above, this Lease shall continue in full force and effect as a direct lease between the Successor and Tenant upon all of the then executory terms of this Lease except that such Successor shall not be (i) liable for any previous act, omission or negligence of Landlord under this Lease; (ii) subject to any counterclaim, defense or offset which theretofore shall have accrued to Tenant against Landlord; (iii) bound by any previous modification or amendment of this Lease or by any previous prepayment of more than one month's rent, unless such modification or prepayment shall have been approved in writing by the Lessor or the Mortgagee through or by reason of which the Successor shall have succeeded to the rights of Landlord under this Lease; (iv) liable for any security deposited pursuant to this Lease unless such security has actually been delivered to the Successor; (v) obligated to repair the Premises or the Building or any part thereof in the event of total or substantial damage or partial condemnation, beyond such repair as can reasonably be accomplished from the net proceeds of insurance or condemnation award actually made available to the Successor or (vi) obligated to perform any Landlord's work or other Alterations.
Direct Lease. ShoLodge, at its option, may cause the Additional Property (or one (1) or more, but less than all, of the Additional HPT Hotels and the portion of the Additional Land, the Additional Buildings and the Additional Equipment relating thereto) to be leased to the Prime Texas Subsidiary by the Additional Hotel Subsidiaries (or the appropriate Additional Hotel Subsidiary or Subsidiaries, if only a portion of the Additional Property is so leased) in the same manner as the Texas Property is leased to the Prime Texas Subsidiary pursuant to Article IV, but with the terms of such lease being consistent with Section 3.
Direct Lease. If Landlord shall recover or come into possession of the ------------ Subleased Premises before the stated expiration date of the Lease, Landlord shall have the right, but not the obligation, to take over the Sublease and to succeed to all rights of Tenant thereunder, Tenant hereby assigning (effective as of the date of Landlord's succession to Tenant's estate in the Subleased Premises) the Sublease if Landlord shall elect to take over. The subletting thereunder is subject to the condition that, from and after the termination of the Lease or re-entry by Landlord thereunder or other succession by Landlord to Tenant's estate in the Subleased Premises, Subtenant hereby waives any right to surrender possession or to terminate the Sublease and, at Landlord's election, shall be bound to Landlord for the balance of the term thereof and shall attorn to and recognize Landlord as its landlord, under all of the then executory terms of the Sublease, except that Landlord shall not be (a) liable for any previous act, omission or negligence of Tenant under the Sublease, (b) subject to any counterclaim, defense or offset theretofore accruing to Subtenant against Tenant, (c) bound by any previous modification or amendment of the Sublease made without Landlord's consent or by any previous prepayment of more than one month's rent and additional rent unless paid as provided in the Sublease, or (d) obligated to perform any repairs or other work in the Subleased Premises or the Building beyond Landlord's obligations under the Lease, and Subtenant shall execute and deliver such instruments as Landlord may reasonably request to evidence and confirm such attornment.
Direct Lease. If Landlord elects to have Subtenant lease the ------------ Premises directly from Landlord, or if Subtenant satisfies the conditions set forth in paragraph 6(b) below, then (in either of those events) Subtenant shall continue to lease the Premises, upon and subject to the same terms and conditions as are provided in the Sublease, modified as provided in
Direct Lease. If the Ground Lease is terminated for any reason during the Lease Term, this Agreement shall continue in full force and effect as a direct lease between Lessee and Ground Lessor subject to the terms and conditions of the Recognition and Attornment Agreement attached hereto and incorporated herein as Exhibit E.
Direct Lease. At Subtenant's request, Sublandlord shall cooperate with Subtenant in seeking a termination of the Master Lease with respect to the Subleased Premises and replacement with a direct lease with the Landlord upon terms acceptable to Subtenant in its sole discretion. Nothing herein shall obligate Landlord to enter into such a direct lease, except on the terms set forth in Section 15.6 above.