Excess Land Sample Clauses

Excess Land. In the event Tenant desires to construct additional improvements on the Excess Land, and no Event of Default then exists, Landlord, at its sole option, (i) shall construct or cause to be constructed such improvements and lease such improvements to Tenant upon terms and conditions reasonably satisfactory to Landlord and subject to this Lease or (ii) shall cause the Excess Land to be released from the terms of this Lease and conveyed to an affiliate of Landlord who shall construct or cause to be constructed such improvements and lease such improvements to Tenant upon terms and conditions reasonably satisfactory to Landlord, or (iii) shall convey the Excess Land to Tenant for a price ("Excess Land Price") equal to the greater of $2,052,356 plus ----------------- the applicable Prepayment Premium or the sum of the Fair Market Value of the Excess Land (as Fair Market Value is defined in clause (a) of the definition thereof) plus the applicable Prepayment Premium provided that the following conditions are satisfied: (A) the Leased Premises shall have been subdivided in compliance with all applicable subdivision laws, Legal Requirements and Easement Agreements so that the Excess Land and the remainder of the Leased Premises (the "Retained Premises") are separate tracts, (B) after such sale both the Excess ------------------- Land and the Retained Premises shall comply with all applicable Laws, Legal Requirements and Easement Agreements, (C) the release of the Excess Land does not materially impact the functional use, legal use or viability of the Retained Premises, (D) Tenant shall have complied with all requirements of Lender set forth in the Mortgage with respect to the release of the Excess Land, (E) all parking located on the Excess Land as of the Commencement Date has been relocated to the Retained Premises in a manner satisfactory to Landlord and (F) all Costs of Landlord, Lender and Tenant in connection with the conveyance of the Excess Land and in complying with the above conditions, including reasonable attorneys' fees, shall be borne solely by Tenant. Landlord, as record title holder to the Excess Land, shall cooperate with Tenant in obtaining a lawful subdivision of the Leased Premises with separate parcels consisting of the Excess Land and the Retained Premises, at no cost to Landlord. If Landlord conveys the Excess Land under clauses (ii) or (iii) above, then, except for Surviving Obligations this Lease shall terminate with respect to the Excess Land...

Excess Land. Landlord and Tenant acknowledge and agree that Landlord is acquiring more land than is necessary for the development and construction of the Building covered by this Lease. The excess land consists of approximately 136,561 square feet and is outlined in yellow on attached EXHIBIT A (Excess Land). Landlord and Tenant agree, as follows, with respect to the Excess Land: A. Landlord will refrain from proceeding with development of the Excess Land for a period of four (4) years, from and after the Commencement Date of this Lease (the "Holding Period"). Tenant shall have the right to shorten the Holding Period by written notice to Landlord given not less than one (1) year prior to the earlier termination of the Holding Period. B. In consideration thereof, Tenant will reimburse Landlord for all real estate taxes, assessments and insurance costs attributable to the Excess Land from the Commencement Date of this Lease until the earlier of the expiration of the said Holding Period or the date that development of the Excess Land is completed. These costs will be reimbursed by Tenant to Landlord, monthly, as a part of the operating expenses that Tenant pays Landlord pursuant to Section 2.2 hereof. C. Tenant will also reimburse Landlord for the costs of carrying the Excess Land for the remainder of the Holding Period after the first year thereof. For the purposes of this provision, carrying costs shall mean interest on the costs incurred by Landlord to acquire the Excess Land from and after the date incurred. Interest shall be at a rate equal to the rate on Four Year Treasury Securities, in effect on the Commencement Date of this Lease, plus two percent (2%). Tenant shall reimburse Landlord for carrying costs, as aforesaid, in cash, upon expiration of said Holding Period, unless, prior to that time, Landlord and Tenant have entered into a binding lease agreement for Tenant s occupancy of a building to be constructed on the Excess Land, in which case, Tenant's obligation to reimburse Landlord shall be deemed waived and of no force and effect. D. Tenant may, at its option and upon written notice given not less than one hundred twenty (120) days prior to expiration of the said Holding Period, extend said Holding Period, for an additional two (2) years. Tenant may exercise said option only by providing written notice as aforesaid and by paying to Landlord the full reimbursement due to Landlord pursuant to Subsections B and C above. In the event Tenant exercises this option...

Excess Land. Landlord and Tenant acknowledge and agree that Landlord is acquiring more property than is necessary for the development and construction of the Building, and that development and construction of a second building on the easterly portion of the property, and site improvements related solely thereto, will be subject to the terms and conditions set forth in Section 14.13

Excess Land. If, at any time following the Closing, the any portion of that parcel of land included in the Property referred to as Store No. 647 located at 701 N. Resler Drive, El Paso, Texas ("647 Premises") is released frox xxx xxxx xx the Mortgage in favor of Lender, as permitted by the Loan Documents, then this Lease shall automatically terminate as to the portion of the 647 Premises released from such Mortgage, but not as to the remaining portion of the 647 Premises, without any reduction in the Base Annual Rental, Base Monthly Rental, any Additional Rental or any other amount owing by Lessee under this Lease or any other obligation of Lessee under this Lease.

Excess Land. 35 37. Miscellaneous.......................................................... 35 EXHIBITS -------- Exhibit "A-1" - Premises Exhibit "A-2" - Excess Land Exhibit "B" - Machinery and Equipment Exhibit "C" - Schedule of Permitted Encumbrances Exhibit "D" - Rent Schedule Exhibit "E" - Financial Covenants Exhibit "F" - Post-Closing Obligations LEASE AGREEMENT, made as of this 31/st/ day of March, 1999, between DELAWARE COMP LLC, a Delaware limited liability company ("Landlord"), with an -------- address c/o W. P. Xxxxx & Co., Inc., 00 Xxxxxxxxxxx Xxxxx, 0xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, and COMPUCOM SYSTEMS, INC., a Delaware corporation ("Tenant"), ------ with an address at 0000 Xxxxxx Xxxx, Xxxxxx, Xxxxx 00000. In consideration of the rents and provisions herein stipulated to be paid and performed, Landlord and Tenant hereby covenant and agree as follows:

Excess Land. (a) Landlord and Tenant acknowledge and agree that Landlord, or an affiliate of Landlord (the “Excess Land Owner”) is the owner of the Excess Land, and, except for the revocable license provided in paragraph 2(e), Tenant disclaims any right, title or interest in the Excess Land. Lxxxxxxx has advised Tenant that Excess Land Owner may, in its sole and absolute discretion, develop any or all of such Excess Land in any manner and for any reason whatsoever. (b) Txxxxx agrees and acknowledges that it has a good faith obligation to cooperate with Landlord (or Landlord’s affiliate) in Landlord’s (or Landlord’s affiliate’s) development of the Excess Land, including the execution of releases or quit claims affecting such Excess Land and participation and cooperation in any zoning or other land use petitions. Txxxxx agrees that failure to so cooperate with Landlord shall constitute a material breach of this Lease. Tenant hereby agrees and acknowledges that Landlord or Landlord’s affiliate may transfer or sell the Excess Land or any portion thereof at any time to another affiliate of Landlord or to any third party without Tenant’s consent. (c) Determination of whether any portion of the Premises consists of Excess Land shall be made by Landlord in its sole and absolute discretion.

Excess Land. The vacant land comprising a portion of the Leased Property of the Xxxxxxx Lake Lodge Facility and consisting of approximately 6.0 acres.

Excess Land. If AUTHORITY desires to acquire any STATE Right-of-Way which is no longer required for STATE purpose, STATE agrees to convey to AUTHORITY said excess land at fair market value in accordance with section 118 of the Streets and Highway Code, subject to the prior approval by the California Transportation Commission.

Excess Land. Key No. 14-02-28-500-002.004-005 Form: WD-1 [This description is subject to any and all easements, rights of way, covenants, or restrictions; recorded or observable.] This description was prepared from information obtained from the Recorder’s Office and other sources which were not necessarily checked by a field survey. Xxxxxxx Xxxx Croix Xxxxxx, 10/18/2012

Excess Land. Designate as Excess Land any parcel which (a) is a part of the footprint of any existing hotel, casino or resort property (including related parking structures and/or support facilities) or (b) with respect to such parcel, the development of condominium developments, retail shopping pads or any similar development on such Excess Land will materially and adversely affect any of the Borrowers’ hotel, casino or resort properties with respect to ingress and egress, delivery or maintenance access, property marquis sign visability, or otherwise materially and negatively impact the level of Adjusted EBITDA generated by the existing development of the adjoining property of the Borrowers.