Intent and Effect. It is the intent and effect of the provisions contained in this section 11 and a material inducement for Landlord to enter into this Lease with Tenant, that Tenant’s obligations hereunder shall be and include a full and total release and indemnification of the Released Parties against any kind or nature of claim whatsoever that is or may be asserted by reason of or as a consequence of Landlord having granted a leasehold to Tenant to possess, occupy, use, improve, operate, and maintain the Premises, and that any and all risks of loss and responsibility for claims shall be borne by Tenant and not by Landlord, the public, or Landlord’s taxpayers. Xxxxxx acknowledges and agrees that the provisions of this section 11 are provided as separate consideration and inducement for this Lease and such Lease would not have been entered into by Landlord absent the giving of such consideration by Xxxxxx. Tenant’s obligations under this section 11 shall survive the termination of this Lease for any matter arising prior to the effective date of the termination or the date Tenant no longer possesses, occupies, uses, operates, or maintains the Premises, whichever is later. Notwithstanding any other provision of this Lease, should any claim or litigation by any person or entity arise against Landlord as to liability for any injury, death, or property damage due to the condition of the Premises or Tenant’s possession, occupancy, use, operation, or maintenance of the Premises or Tenant’s activities, Tenant shall be responsible for, and promptly reimburse Landlord for, all costs of Landlord’s defense of such claim or litigation, including but not limited to fees for Landlord’s attorneys and experts.
Intent and Effect. It is the intent of the CLT and of the Lessee, and the effect of this Lease, to permit the free alienation of the Lessee's interest in the Land and Improvements, subject to certain limitations on price (outlined in this Article X) which are designed to xxxxxx the charitable purposes outlined in the recitals and in the Lessee's Letter of Acknowledgment by (i) conserving the CLT subsidy; (ii) limiting the inflationary effect of any appreciation in the value of the Improvements; and (iii) restricting resale of the Lessee's interests to other low or moderate income families (as defined in Section 10.2 below).
Intent and Effect. The terms and conditions of this Agreement have been freely accepted by the parties. The provisions and restrictions contained herein exist to further the mutual purposes and goals of DHCD, the Subsidizing Agency, the Municipality and the Developer set forth herein to create and preserve access to land and to decent and affordable homeownership opportunities for eligible families who are often denied such opportunities for lack of financial resources.
Intent and Effect. The terms and conditions of this Section 10 have been freely accepted by the parties, each with or without the independent and informed advice of legal counsel. The provisions and restrictions contained herein exist to further the mutual purposes and goals of Land Owner and Land Lessee set forth herein to create and preserve access to land, decent and affordable housing and home ownership opportunities for low and moderate income people who are often denied such opportunities for lack of financial resources. It is the express understanding and intent of the parties that the terms and conditions hereof, and in particular of this Section 10 are intended in part to enhance the marketability of any Improvements on the Land by making them affordable to low and moderate income families who, absent such provisions, would be unable to afford them. It is expressly agreed that this paragraph is merely a statement of intent and does not create any additional rights in the favor of the Land Lessee.
Intent and Effect. 14.5.1 Each of the Parties hereto undertakes to fully and promptly observe and comply with the provisions of this Agreement.
Intent and Effect. The terms and conditions of this Article X have been freely accepted by the parties, each with the independent and informed advice of legal counsel. The provisions and restrictions contained herein exist to further the mutual purposes and goals of Lessor and Lessee set forth herein, to create and preserve access to land, decent and affordable housing and home ownership opportunities for low- and moderate-income people who are often denied such opportunities for lack of financial resources. It is the express understanding and intent of the parties that the terms and conditions hereof will enhance the marketability of any Improvements on the Leased Premises by making them affordable to low- and moderate-income families who, absent such provisions, would be unable to afford them.
Intent and Effect
