Existing Tenant. Tenant acknowledges that as of the Lease Date, Starter Corporation ("Starter") is the tenant currently occupying the Demised Premises pursuant to a lease between Landlord (or Landlord's predecessor in interest) and Starter (the "Starter Lease"). Starter has filed for bankruptcy and the Official Committee of Unsecured Creditors (appointed in lieu of a trustee) handling the bankruptcy is expected to reject the Starter Lease (the actual date of any such rejection being referred to herein as the "Starter Rejection Date", and the effective date of any such rejection being referred to herein as the "Starter Effective Date"). Landlord agrees to use reasonable good faith efforts to cause Starter to vacate the Demised Premises (except with respect to any personalty or trade fixtures that will remain in the Demised Premises pursuant to a separate agreement between Starter and Tenant) promptly following the later to occur of (a) the Starter Rejection Date, and (b) the Starter Effective Date (such later date being referred to herein as the "Starter Termination Date"), subject to any orders of the applicable bankruptcy court to the contrary or restrictions or limitations in federal and bankruptcy laws. In the event the Starter Termination Date occurs after September 1, 1999, or in the event Starter refuses or fails to vacate the Demised Premises after the Starter Termination Date (each such event being referred to herein as a "Delay"), the obligations of Tenant hereunder shall remain as set forth herein except that the Lease Commencement Date, the Base Rent Commencement Date and the Expiration Date shall be postponed one day for each day of Delay. In the event the Official Committee of Unsecured Creditors elects to accept the Starter Lease, Landlord shall promptly notify Tenant, and this Lease shall terminate effective as of the date of such notification, in which event, this Lease and the obligations of the parties hereunder shall terminate except for such obligations as are to survive any such termination by their express terms. Notwithstanding anything in this Special Stipulation 14 to the contrary, in the event the Official Committee of Unsecured Creditors fails either to accept or to reject the Starter Lease on or before the sixtieth (60th) day following the Lease Date, then either party shall have the right to terminate this Lease, to be exercised by delivering written notice to the other party on or before the seventieth (70th) day following the Lease Date (prov...
Existing Tenant. As of the date of this Agreement the Third Expansion ---------------- Premises are occupied by a tenant (the "Existing Tenant") pursuant to a lease which expires April 30, 2001. Landlord agrees to use good faith efforts to enter into a partial lease termination agreement with the Existing Tenant and to deliver possession of the Third Expansion Premises to Tenant on or before January 31, 2000 (the "Scheduled Third Expansion Premises Commencement Date"), but Landlord shall not be liable for any claims, damages or liabilities if Landlord does not enter into a partial lease termination agreement for the Third Expansion Premises with the Existing Tenant, and Landlord is unable to deliver possession of the Third Expansion Premises to Tenant prior to the Scheduled Third Expansion Premises Commencement Date. Notwithstanding anything to the contrary contained in this Agreement, if Landlord has not delivered possession of the Third Expansion Premises to Tenant on or before February 29, 2000, then Tenant may terminate this Agreement by written notice to Landlord, such notice of termination to be given, if at all, on or before March 10, 2000. If Tenant terminates this Agreement pursuant to the provisions of the immediately preceding sentence, then the L/C (as defined below) delivered by Tenant to Landlord in connection with this Agreement shall immediately become invalid, and within ten (10) days after Landlord receives such notice from Tenant terminating this Agreement, Landlord shall return to Tenant (a) the original L/C, and (b) all Base Rent paid by Tenant to Landlord under this Agreement.
Existing Tenant. If Landlord is unable to deliver the Leased Area to Tenant on the Commencement Date free of the tenancy and occupancy of the Existing Tenant and any Other Tenants, then the Commencement Date may, Tenant’s option, be extended for a period of time equal to such delay, in which event the Expiration Date shall likewise be so extended.
Existing Tenant. Landlord and Xxxxxx acknowledge and agree that the Premises is, as of the date hereof, leased and occupied by the Arizona Summit Law School, LLC (the “Existing Tenant”) pursuant to a lease by and between Landlord and Existing Tenant (“Summit Lease”).
Existing Tenant. Landlord hereby represents and warrants that Xxxxxxxx, et al, Inc. (the “Existing Tenant”) currently has certain wheat farming rights at the Premises pursuant to that certain oral lease agreement currently in effect (the “Existing Tenant Lease”). At or prior to Rent Commencement Date, the Existing Tenant Lease shall be terminated and the Existing Tenant shall have no further rights related to the Premises. On or prior to the Rent Commencement Date, Tenant agrees to compensate the Existing Tenant for the fair market value of any wheat that Existing Tenant was unable to harvest in late summer 2008 as a result of Tenant’s leasing of the Premises less any expenses that Existing Tenant did not incur as a result of not harvesting such wheat; provided, however, that in no event will such payment by Tenant to the Existing Tenant exceed $15,000.
Existing Tenant. Tenant acknowledges and agrees that the Additional Space --------------- is leased and occupied by an existing tenant (the "Existing Tenant") in accordance with a lease which expires February 29, 2000. Landlord agrees to use good faith efforts to regain possession of the Additional Space from the Existing Tenant and to deliver possession of the Additional Space to Tenant following expiration of the lease with the Existing Tenant. Landlord shall not be liable for any claims, damages or liabilities if Landlord is unable to deliver possession of the Additional Space to Tenant following expiration of the lease with the Existing Tenant.
Existing Tenant. Landlord and Tenant acknowledge that Existing Tenant currently holds a leasehold interest and first right of refusal in the Premises pursuant to a lease agreement dated June 1, 2000 (the “Leasehold”). The lease agreement for the existing Leasehold is due to expire on May 31, 2005, with two (2) successive five (5) year options for Existing Tenant to extend the Leasehold. Pursuant to an amendment to the June 1, 2000 leasehold, Existing Tenant has agreed to vacate the Premises prior to October 1, 2001, remove all of its personal properties from the Premises, and terminate its lease and first right of refusal with respect to the premises described in Exhibit “A”. Existing Tenant will continue to lease an approximate 10-acre parcel of Woodhaven property described in Exhibit “D”. In the event Landlord does not deliver exclusive possession of the Premises to Tenant by November 30, 2001, Tenant may seek specific performance against Landlord, or may terminate this lease after which this lease shall be null and void and of no further force or effect. In the event this lease terminates due to Landlord’s failure to deliver exclusive possession to Tenant, Landlord shall, in addition to Tenant’s Security Deposit, promptly reimburse Tenant for all reasonable costs and expenses incurred by Tenant in pursuing Approvals and investigating the Premises’ condition and environmental matters. “Exclusive possession” shall mean vacant, broom-clean with no rights or claims of possession by any party except Tenant.
Existing Tenant. The Additional Space has been occupied by an existing tenant ("Existing Tenant") which was in holdover beyond the expiration of its lease. The Existing Tenant has vacated the Additional Space.
Existing Tenant. The Expansion Premises are occupied by a tenant (the --------------- "Existing Tenant") pursuant to a lease which expires June 30, 1999. Landlord agrees to use good faith efforts to obtain possession of the Expansion Premises from the Existing Tenant upon expiration of the lease with the Existing Tenant, but shall not be liable for any claims, damages or liabilities if the Existing Tenant does not vacate the Expansion Premises upon expiration of the term of its lease, and Landlord is unable to deliver possession of the Expansion Premises to Tenant upon expiration of the lease with the Existing Tenant.
Existing Tenant. The Second Expansion Premises are occupied by a tenant ---------------- (the "Existing Tenant") pursuant to a lease which expires December 31, 1999. Landlord agrees to use good faith efforts to enter into a lease termination agreement with the Existing Tenant and to deliver possession of the Second Expansion Premises to Tenant on the Second Expansion Premises Commencement Date, but Landlord shall not be liable for any claims, damages or liabilities if Landlord does not enter into a lease termination agreement for the Second Expansion Premises with the Existing Tenant, and Landlord is unable to deliver possession of the Second Expansion Premises to Tenant prior to the Second Expansion Premises Commencement Date.
