Grant and Term of Lease Sample Clauses

Grant and Term of Lease. (a) Landlord does hereby let and lease to Tenant the Premises, together with all right to use the Common Areas for the Term, subject to the terms and conditions set forth in this Lease. (b) Landlord reserves the right to enter the Premises at any time in case of emergency and at all other reasonable times and upon reasonable advance notice (i) to inspect the condition of the Premises; and (ii) to make repairs to the building in which the Premises are located, to the extent Landlord is required to do so, or is otherwise permitted to do so, pursuant to the terms of this Lease.
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Grant and Term of Lease. Landlord hereby demises and leases the Demised Premises to Tenant, to have and to hold the same, for a term commencing on the Lease Commencement Date (as defined in Section 2.3(a) hereof) and ending 25 Lease Years (as defined in Section 3.1 hereof) after the Lease Commencement Date, unless sooner terminated in the manner provided herein (the "Term"), to be occupied and used by Tenant for the uses permitted under Section 4.1 hereof, subject to the covenants and agreements herein contained. Tenant shall be liable to Landlord for the payment of Base Rent (as defined in Section 3.1 hereof) and the payment of any other obligations to be paid by Tenant commencing on the Lease Commencement Date. I\3883853.6
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Grant and Term of Lease. 1.1 For the rent and upon the terms and conditions hereinafter stated, the Lessor does let and lease unto Lessee and Lessee does let and lease from Lessor that certain mobile home more particularly described on Exhibit "A" attached hereto and by this reference made a part hereof (the "Mobile Home"). 1.2 The term of the Lease and the Lessee's obligation to pay the rental required hereunder shall begin on the XXXX 00, 2011 and shall terminate XXXX (0 yrs) year(s) thereafter on the 0th day of 0000, 2011, at midnight, unless earlier terminated pursuant to the provisions of this Lease.
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Grant and Term of Lease. 3 3. RENT...................................................................4
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Grant and Term of Lease. Upon the term and conditions hereinafter set forth and subject to the Existing Mortgage and the Existing Security Agreement, Lessor hereby leases to Lessee, and Lessee leases from Lessor, all of the following (collectively, the "Leased Premises"): the land and all buildings, structures, other improvements and fixtures now standing or at any time hereafter constructed or placed upon the Site, including, without limitation, all of the foregoing which are included in or constitute a part of the Facility (said buildings, structures, other improvements and fixtures being herein collectively called the "Improvements") and all equipment, machinery, furniture, furnishings and removable fixtures of every kind and nature (the "Tangible Personal Property" as more particularly described in the Bilx xx Sale) whatsoever which are now or at any time hereafter located in or upon, or affixed to, the Site (the description of which site is attached hereto and made a part hereof as EXHIBIT A hereto) and/or any Improvements which now or hereafter are used or useful in connection with, or constitute a part of, the Facility. The Leased Premises do not include any inventory, accounts receivable or intangible personal property. The term (the "Term") of this Lease shall be from January 1, 2002 to December 31, 2032. Notwithstanding the foregoing, Lessee shall have the option at any time during the Term to terminate this Lease by exercising its Option to Purchase pursuant to Section 4 hereof; provided, however, that the indemnification obligations from Lessee in favor of Lessor shall survive termination of the Lease, pursuant to Article VI of the Loan Agreement.
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Grant and Term of Lease 
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Related to Grant and Term of Lease

  • TERM OF LEASE This Lease shall commence on the date of ________ and shall continue until its natural termination under this part on the date of ________ at 11:59 PM. After the date of termination, this Lease shall automatically renew and shall continue for the same term amount until Landlord or Tenant undertake cancellation of this Lease in writing. At the expiration of this Lease, Tenant shall be responsible for providing a forwarding address to Landlord to receive any funds owed or other notices.

  • Commencement and Term This Agreement shall commence upon the Effective Date and continue for the Agreement Term.

  • Effective Date and Term of Agreement This Agreement is effective and binding on the Company and Employee as of the date hereof; provided, however, that, subject to Section 2(d), the provisions of Sections 3 and 4 shall become operative only upon the Change in Control Date.

  • Term of Agreement and Termination 2.1. This Agreement enters into effect at the time of acceptance of this Agreement. 2.2. This Agreement will terminate without any further notice in the event products offered under this Agreement have not been used during a period of two (2) years. 2.3. This Agreement may be terminated at any time by either party with 30 days written notice. 2.4. This Agreement may be terminated by SAS with immediate effect if the Company code is used for private purposes or if SAS has reasonable cause to believe that such or similar misuse has occurred or if the Company is put into bankruptcy, enters into liquidation or is otherwise deemed to be insolvent.

  • Term of Agreement and Renewals The Agreement with TIPS is for approximately three (3) years with an option for renewal for an additional one

  • Termination of Lease (a) Landlord and Tenant hereby agree that, effective as of the Termination Date, the Lease and the term thereof shall terminate and expire, and Tenant’s estate in and right of possession to the Premises shall terminate and be wholly extinguished, as if said Termination Date was originally set forth in the Lease as the expiration date thereunder. Effective as of the Termination Date, neither Landlord nor Tenant shall have any further rights or obligations under the Lease, except as provided in this Agreement. Effective as of the Termination Date, Landlord and Tenant for themselves and their predecessors-in-interest, successors and assigns, do hereby release and forever discharge each other, their successors and assigns, from all actions, causes of action, sums of money, covenants, agreements, promises, damages, judgments, claims and demands whatsoever in law or in equity which each against the other ever had, now has, or which they or their respective predecessors, successors or assigns hereafter may have, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world through the Termination Date arising out of or in connection with the Lease or the Premises, or the Building; provided that (A) neither party shall be released from any of its obligations under this Agreement (and this Agreement shall survive the termination of the Lease), (B) neither Landlord or Tenant shall be released from any indemnification obligations that accrued under the Lease prior to the Termination Date and (C) the provisions of Section 8.13 and Section 8.21 of the Lease shall survive the termination of the Lease. Effective as of the Termination Date, Landlord shall be entitled to lease the Premises to any person or entity, or take any other action with respect thereto, free from any claim of Tenant or any person or entity claiming through Tenant. (b) On or prior to the Termination Date, Tenant agrees to surrender unto Landlord and its successors and assigns, and Landlord agrees to accept, the Premises in its “as is” condition. (c) In consideration of this Agreement and the termination of the Lease, Tenant agrees to permit the letter of credit in the amount of $8,698,662.00 issued by Citibank, N.A. (the “Letter of Credit”) which Letter of Credit Landlord is presently holding as security under the Lease, to be drawn down for the payment of the following sums: (i) $7,800,000.00 (the “Termination Fee”) to be drawn down and paid to Landlord in consideration of the termination of the Lease and the other transactions contemplated by this Agreement; and (ii) $898,662.00, representing the balance of the proceeds of the Letter of Credit shall be paid to Tenant. Tenant hereby authorizes Landlord to draw on the Letter of Credit and the entire proceeds of the Letter of Credit (the “Proceeds”) and Landlord agrees to deliver Tenant’s share of the Proceeds described in clause (ii) above to Tenant’s bank account within three (3) Business Days of Landlord’s receipt of the entire Proceeds in accordance with Tenant’s wire instructions attached hereto as Exhibit A. Except as otherwise set forth in this Agreement, it is agreed that in no event shall Tenant at any time be entitled to receive any other sums from Landlord in connection with the Lease, including, without limitation, all or any portion of the Work Allowance or any reimbursement of any amounts previously paid by Tenant to Landlord in connection with the construction of the Terrace Space. Contemporaneously herewith, Landlord shall deliver a sight draft to the issuer of the Letter of Credit in order to obtain payment of the Proceeds, which sight draft shall provide for the Proceeds to be paid to Landlord’s bank account, as designated by Landlord. Tenant hereby agrees to cooperate with Landlord and execute any and all documents required by the issuing bank in order to facilitate Landlord’s efforts to draw down on the Proceeds of the Letter of Credit. The effectiveness of the surrender and termination provided for in this Agreement is subject to, and conditioned upon, Landlord’s receipt of the Termination Fee in accordance with the terms hereof. If Landlord does not receive the Termination Fee in accordance with the terms hereof, then the termination of the Lease shall automatically be null and void and of no further force or effect and the Lease shall continue in full force and effect as if this Agreement had never been entered into. (d) Tenant shall be responsible for, and shall indemnify Landlord for, any and all transfer taxes, sales taxes or other taxes or similar charges imposed by any federal, state or local governmental authority or under any Law arising from or relating to this Agreement, the Termination Fee or any of the other transactions hereunder. Tenant will execute and deliver to Landlord a New York State Form TP 584 and a New York City Form RPT. (e) Landlord and Tenant agree that the disgorgement of any portion of the Termination Fee or the avoidance in whole or in part of this Agreement, under any applicable law, including, but not limited to, chapter 5 of title 11 of the United States Code (the "Bankruptcy Code"), shall be considered a breach of this Agreement by Tenant and shall entitle Landlord to seek the full amount of the Obligations and any other damages to which Landlord is entitled under the Lease from Tenant resulting from the breach of this Agreement.

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