Form of Lease. The form of lease to be utilized by Owner in renting any Housing Units in the Development must provide that any Resident who is intended to be a Qualified Resident shall provide for termination of the lease and for consent by such Resident to immediate eviction as a result of any material misrepresentation made by such person with respect to the Income Certification or of the failure by such Resident to annually execute an Income Certification.
Form of Lease. To lease a Rental Affordable Unit to a Qualified Tenant, Developer shall use a lease agreement to which is attached and incorporated a Rental Affordable Unit Lease Rider. The Rental Affordable Unit Lease Rider shall be executed by Developer and each Qualified Tenant prior to the Qualified Tenant’s occupancy of the Rental Affordable Unit. Any occupant of the Rental Affordable Unit who is eighteen (18) years or older shall be a party to the lease agreement and shall execute the Rental Affordable Unit Lease Rider.
Form of Lease. All Leases other than Material Leases shall be written on the standard forms of lease which have been approved by Lender. In negotiating Leases, changes may be made to the standard form of lease provided that (i) such changes are commercially reasonable, and (ii) no changes may be made to the following provisions in Owner's standard form of lease without the prior written consent of Lender: provisions relating to subordination, attornment, estoppels, mortgagee's right to notice and opportunity to cure landlord's defaults, and mortgagee's rights with respect to lease amendments and prepayment of rents. In addition, all renewals of Leases and all proposed leases shall provide for rental rates comparable to existing local market rates and shall be arms length transactions. All Leases entered into after the date hereof shall provide for (x) subordination to the Mortgage and, at Lender's election, attornment to Lender or any purchaser at a sale by foreclosure or power of sale, and (y) the Lender's unilateral right to subordinate the Mortgage to the Leases. No Lease entered into after the date hereof will contain any option to purchase, any right of first refusal to purchase, any right to terminate (except in the event of the destruction of substantially all of the Collateral Property), any non-disturbance or similar agreement or any requirement that Owner rebuild the Collateral Property (except as provided in the form of Lease that has been approved by Lender); provided, however, that "small shop" leases entered into after the date hereof and covering not more than fifteen percent (15%) of the gross leaseable area of the Collateral Property may contain so called "kick-out" clauses permitting either landlord or the Tenant to terminate the Lease if the specified sales revenue is not attained. Upon request, Owner shall furnish Lender with executed copies of all Leases affecting the Collateral Property then in effect.
Form of Lease. At the Closing, the FCRHA and One University shall enter into the Ground Lease, which will be substantially in the form attached hereto as Exhibit C and made a part hereof except to the extent that any terms and conditions are no longer applicable or are otherwise invalid or unenforceable under Xxxxxxxx xxxx as of the Closing Date (as defined in Section 7.1 below) or as otherwise mutually agreed to by the FCRHA and One University. Promptly after delivery of the Option Notice, to the extent necessary, the Parties shall meet in good faith to determine if any modifications are necessary to the proposed Ground Lease to reflect any new, or otherwise unanticipated, circumstances regarding the Ground Xxxxx Xxxxxxxx, financing of the Project, or any changes in Virginia law that make any term or provision of the proposed Ground Lease invalid or unenforceable.
Form of Lease. (a) The Servicer shall commence the negotiation of any commitment for a Lease or Leases of Aircraft Assets in a manner consistent with the practices employed by the Servicer with respect to its aircraft operating leasing services business generally and shall commence the drafting of, and negotiation with respect to, any Leases for Aircraft Assets on the following basis:
(i) in the case of any proposed Lessee that is not and has not been a lessee of an aircraft managed or serviced by the Servicer, the Servicer shall commence the drafting of, and negotiation with respect to, a Lease for Aircraft Assets based on the form of lease agreement or agreements then used by the Servicer in connection with its aircraft operating leasing services business generally (as such form of lease shall be amended from time to time by the Servicer, subject to Section 3.02(c) below, the "PRO FORMA LEASE"); and
(ii) in the case of any proposed Lessee that is or was a lessee of an aircraft managed or serviced by the Servicer, the Servicer may commence the drafting of, and negotiation with respect to, a Lease for Aircraft Assets based on a form of lease substantially similar to the lease previously used with respect to such Lessee (the "PRECEDENT LEASE").
(b) Provided that the Servicer commences the negotiation of a Lease of any Aircraft Asset in accordance with clauses (a)(i) and (a)(ii) above, the terms of any executed Lease may vary from the terms of the Pro Forma Lease or the Precedent Lease employed by the Servicer in accordance with such clauses. Subject to compliance with the terms and conditions of this Agreement, the Servicer is authorized to execute and deliver binding Leases and related agreements on behalf of the relevant Person within AerCo Group. It is the intention of the parties that following the execution and delivery of any Lease with respect to Aircraft Assets the Servicer shall deliver a copy of the executed Lease, together with a copy thereof marked to reflect changes from the precedent employed in accordance with the foregoing procedures, to AerCo within 20 Business Days of such execution and delivery.
(c) In good time prior to each anniversary of the Closing Date for purposes of the annual review of the Pro Forma Lease (the "ANNUAL REVIEW"), the Servicer shall provide AerCo with a copy of its then current pro forma lease as used in its Own Business, together with a copy thereof marked to reflect the differences between it and the then current Pro Forma Lease,...
Form of Lease. The Tenant shall execute the Landlord's form of lease (the "Lease") for the Shopping Centre within 21 business days of delivery of the Lease to the Tenant, failing which the Landlord, at its option, may terminate this Offer and retain the deposit without prejudice to any other rights and remedies available to the Landlord. The Lease will incorporate the terms hereof (which terms will be more fully described and expanded upon) and other matters normally dealt with in shopping centre retail leases. In any event, the Tenant shall not be permitted possession of the Leased Premises, unless the Lease has been executed by it. In the event that there is any inconsistencies between the terms contained in the said Lease and the terms hereof, the terms of the Offer shall govern but only to the extent of the conflict.
Form of Lease. The Servicer shall commence the negotiation of any commitment for a Lease or Leases of Aircraft Assets in a manner consistent with the practices employed by the Servicer with respect to its aircraft operating leasing services business generally and shall commence the drafting of, and negotiation with respect to, any Leases for Aircraft Assets on the following basis:
Form of Lease. (a) Engrossments of each Lease and each counterpart will be prepared by the Landlord's Solicitors.
(b) The Landlord and/or the Tenant may make such additions or modifications to the form or the plan to be annexed to each Lease as may reasonably be required to describe the applicable Premises or the Building as eventually constructed, as set forth in the relevant Lease, which additions or modifications shall be reasonably approved by the other party. The applicable Commencement Date shall be inserted in the engrossments of the relevant Lease and counterpart Lease on completion for the corresponding Phase.
Form of Lease. LEASE AGREEMENT
Form of Lease. The form of lease for Tenants must provide for termination of the lease and consent to immediate eviction for failure to qualify as a Qualified Tenant if the Tenant has made any material misrepresentation in the initial income certification. The term of the lease must be for a period of not less than one (1) year. Borrower may not terminate the tenancy or refuse to renew any lease of a Unit except for serious or repeated violation of the terms and conditions of the lease, for violation of applicable Laws or other good cause. Any termination or refusal to renew the lease for a Unit must be preceded by not less than thirty (30) days' written notice to the Tenant specifying the grounds for the action. The form of lease for any Unit that has received an allocation of tax credits must provide that the Tenant agrees that the lease may be terminated upon 120 days' notice if the Tenant's certified household income exceeds 120 percent of Median Income and must specify that it may only be terminated in accordance with the requirements of Section 42 of the Internal Revenue Code.
