Facility Leases Sample Clauses

Facility Leases. No Standard Company owns any real property or has any interest in real property other than the leasehold interests of the relevant Standard Companies under the Facility Leases. In respect of each Facility Lease: (a) the tenant has a good and valid leasehold interest in the Facility Lease free and clear of any Liens except for Permitted Liens and easements, covenants and other encumbrances and restrictions of record that do not materially impair its current use of the Leased Facility; (b) the tenant’s current use of the Leased Facility does not violate any applicable Law, Order or Permit, and the tenant has obtained all Permits required for the Leased Facility’s current use; and the tenant has not assigned or subleased its leasehold interest; (c) the tenant is not, and to the Vendors’ Knowledge, the landlord is not, in Default in a material respect under the Facility Lease; the tenant has not received any Notice asserting a violation of or a Default under the Facility Lease; and to the Vendors’ Knowledge, no event has occurred or circumstance exists that, with or without Notice or the passage of time or both, would result in a Default in a material respect under the Facility Lease or would give the landlord the right to exercise any remedy under the Facility Lease or to cancel, terminate or modify the Facility Lease; and (d) the Leased Facility is now and will be at the time of Closing in good operating condition and repair, except for normal wear and tear; to the Vendors’ Knowledge, the Leased Facility is structurally sound and free of defects, and no material alterations, repairs or restorations are required under the Facility Lease or any applicable Law, Order or Permit; and the Leased Facility is supplied with adequate utilities and other services necessary for the tenant’s current use of the Leased Facility.

Facility Leases. (a) Subject to the provisions of Sections 4.3 and 5.15 of the Trust Indenture, Mortgagor shall do or cause to be done all things necessary to preserve and keep unimpaired the rights of Mortgagor, as lessee under all Facility Leases, and to prevent any termination, surrender, cancellation, forfeiture or impairment of any thereof. Mortgagor shall at all times fully perform and comply with all agreements, covenants, terms and conditions imposed upon or assumed by it as lessee under each of the Facility Leases (including, without limitation, the covenant to pay rent and all taxes, assessments and other charges mentioned therein) prior to the expiration of any notice and/or cure period provided in each such Facility Lease. Upon receipt by Mortgagee from a Lessor of any written notice of default by the lessee thereunder, Mortgagee may rely thereon and take any action Mortgagee deems necessary in its sole discretion to prevent or to cure any default by Mortgagor in the per- formance of or compliance with any of the agreements, covenants, terms or conditions imposed upon or assumed by Mortgagor as lessee under such Facility Lease, even though the existence of such default or the nature thereof be questioned or denied by Mortgagor or by any party on behalf of Mortgagor. Without limiting the generality of Section 3.08, Mortgagor hereby expressly grants to Mortgagee, and agrees that Mortgagee shall have, the absolute and immediate right to enter in and upon the Premises or any part thereof to such extent and as often as Mortgagee, in its sole discretion, deems necessary or desirable for the purpose permitted by the immediately preceding sentence, subject only to applicable Legal Requirements. Without limiting Mortgagor's obligations or Mortgagee's rights set forth above or limiting Mortgagee's other remedies under this Mortgage, Mortgagee may (i) pay and expend such sums of money as Mortgagee in its sole discretion deems necessary for any such purpose, and (ii) without limiting the provisions of (i) above, in the event of a Disqualification (as defined in Section 52.2 of the Ground Leases), and Mortgagor's failure to exercise the option contained in Section 52.3 of the appropriate Ground Lease within the period of time described in Section 5.20(b)(vii), exercise said option on behalf of Mortgagor and expend any amounts Mortgagee, in its sole discretion, deems necessary in connection therewith, and Mortgagor hereby agrees to pay to Mortgagee immediately and without de...

Facility Leases. Sellers are the respective tenants under the ---------------- Facility Leases. To Sellers' knowledge, neither Landlord is in default of its obligations under the Facility Leases. No Seller is in monetary default under a Facility Lease and no Seller has received a written notice of default from a Landlord under its Facility Lease (except that HRT has notified Sellers which are the tenants under the HRT Facility Leases that the Facilities fail to meet certain financial coverage ratios set forth in the HRT Facility Leases). Except as expressly set forth in this Contract, it is understood and agreed that Sellers are not making and have not at any time made any warranties or representations of any kind or character, express or implied with respect to the Facilities, including any warranties or representations as to habitability, merchantability, or fitness for a particular purpose or any other matter or thing regarding the Facilities. Except as expressly set forth in this Contract, Buyer acknowledges and agrees that upon closing, Seller shall sell, convey to assign and transfer to Buyer, and Buyer shall accept Sellers' interest in the Facility Leases and the Facilities "as is, where is, with all faults." Except as expressly set forth in this Contract, Buyer shall rely solely on its own investigation with respect to the Facilities, including the Facilities' physical, environmental or economic condition, compliance or lack thereof with any law. Except as expressly set forth in this Contract, in addition to, and not by way of limitation of, the sale of the Facilities on an AS IS CONDITION WITH ALL FAULTS basis under this Contract, Buyer acknowledges that Sellers make no representations or warranties whatsoever to Buyer regarding the: (i) physical condition of the Facilities; or (ii) presence or absence of hazardous or toxic materials or chemicals in, at, or under the Facilities. References in this Contract to the "KNOWLEDGE" of Sellers shall refer only to the actual knowledge (as opposed to constructive, deemed or imputed knowledge) of the Designated Employees (as hereinafter defined) after reasonable inquiry has been made of the appropriate regional and/or Facility personnel, and shall not be construed, by imputation or otherwise, to refer to the knowledge of Sellers, or any affiliate of Sellers, to any property manager, or to any other trustee, officer, agent, manager, representative or employee of Sellers or any affiliate thereof or to impose upon such Designat...

Facility Leases. Obligated Group School Indebtedness consisting of leases for charter school facilities, the term of which do not exceed two years (including any term extension options), may be incurred without limitation. A lease for a charter school facility with a term exceeding two years (including any term extension options) shall not be considered Nonrecourse Indebtedness subject to the tests therefor set forth above, but may be incurred if an Independent Consultant selected by Xxxxxx provides a written report to the Master Trustee (A) setting forth projections which indicate forecasted Payment Coverage Ratio for each of the fiscal years under the term of such lease, taking into account such lease, of not less than 1.10:1.00.

Facility Leases. The Buyer (or its wholly-owned subsidiaries) shall have entered into the Facility Leases.

Facility Leases. Concurrently with the Closing, the Parties shall enter into leases for the Owned Real Property located in (a) St. Xxxxxxx, Louisiana, (b) Mobile, Alabama, (c) Jacksonville, Florida, and (d) Tampa, Florida; each with the applicable material terms set forth in Exhibit B. Concurrently with the Closing, Buyer will enter into an agreement with Comcar for the rental of parking spaces at a drop yard in Atlanta, Georgia, containing customary terms and rental amount equal to the amount CTL is obligated to pay under its current agreement for the spaces. Concurrently with the Closing, the Parties shall, to the extent permitted by the master lease, enter into a sublease for the leased facility located in Angleton, Texas, for 30 days and containing customary terms. The Parties shall negotiate the definitive documents for the foregoing leases in good faith.

Facility Leases. The Facility Leases is valid, binding and enforceable in accordance with its terms and is in full force and effect. No event exists which (whether with or without notice, lapse of time or both) would constitute a default thereunder on the part of Seller which would terminate or cause a material liability under the Facility Leases; and, to the knowledge of Seller, there exists no occurrence of any event which (whether with or without notice, lapse of time or both) would constitute a default thereunder by any other party. Seller has delivered a true and correct copy of the Facility Leases to Buyer prior to the date hereof.

Facility Leases. (a) At or prior to the Closing and subject to the receipt by Seller or an Affiliate of Seller of any applicable Approval, if required under such Facility Lease (or, if applicable, under a prime lease with respect to a location covered by such Facility Lease): (i) with respect to each Facility Lease which is listed in Part I of Section 6.4 of the Seller’s Disclosure Schedule, Seller shall, or shall cause the applicable Affiliate of Seller which is the lessee thereof to enter into a Facilities Lease Assignment or a Facilities Lease Sublease of such Facility Lease with the Company or one of the Subsidiaries; (ii) with respect to the Facility Lease which is listed in Part II of Section 6.4 of the Seller’s Disclosure Schedule, and subject to the assignment of such Facility Lease to Seller or an Affiliate of Seller in accordance with the terms of Section 6.4(c) below, Seller shall, or shall cause the applicable Affiliate of Seller which is the lessee thereof, to enter into a Facilities Lease Sublease with the Buyer, the Company or one of the Subsidiaries for the location covered by such Facility Lease on terms mutually agreeable to the Buyer and Seller in the exercise of their reasonable discretion and Buyer, the Company or applicable Subsidiary will permit Seller and/or one or more Affiliates thereof to occupy for the interim period following the Closing Date specified in a Shared Space Agreement that portion of the facility which is used by the Seller or any such Affiliates thereof; (iii) pursuant to and in accordance with a Shared Space Agreement, with respect to each Facility Lease which is listed in Part III(a) of Section 6.4 of the Seller’s Disclosure Schedule, Seller or the applicable Affiliate of Seller which is the lessee thereof will permit Buyer, the Company or one of the Subsidiaries to occupy for the interim period following the Closing Date specified in such Shared Space Agreement that portion of the facility covered by such Facility Lease which is used by the Company or one of the Subsidiaries; (iv) with respect to each Facility Lease which is listed in Part III(b) of Section 6.4 of the Seller’s Disclosure Schedule, Seller shall, or shall cause the applicable Affiliate of Seller which is the lessee thereof, to enter into a Facilities Lease Sublease with Buyer, the Company or one of its Subsidiaries for a term of years following the Closing Date and on terms mutually agreeable to Buyer and Seller in the exercise of their reasonable discretion for t...

Facility Leases. All Facility Leases are valid, binding and enforceable in accordance with their terms and, are in full force and effect. Except as set forth in Schedule 7.14, no event exists which (whether with or without notice, lapse of time or both or the happening or occurrence of any other event) would constitute a default thereunder on the part of Alpha Group which would terminate or cause a material liability under any Facility Leases; and, there exists no occurrence of any event which (whether with or without notice, lapse of time or both or the happening or occurrence of any other event) would constitute a default thereunder by any other party. Alpha Group have delivered true and correct copies of the Facility Leases to Jxxxx prior to the date hereof.

Facility Leases. Counterpart original Facility Leases for each of the Properties, executed by the Tenant.