LAND LEASE FRAMEWORK AGREEMENT Date Sample Clauses

LAND LEASE FRAMEWORK AGREEMENT Date. 31 December 2020 (i) Xxxxxxxx Xxxxxxx; and (ii) The Company The land use rights of 20 parcels of land covering a total area of 649,689.64 sq.m. in Zhaoyuan, Shandong, the PRC. From 1 January 2021 to 31 December 2023 The Company has a priority right to lease the Subject Land Use Rights from Xxxxxxxx Xxxxxxx in the event that Xxxxxxxx Xxxxxxx continues to lease out the Subject Land Use Rights after expiry of the lease term under the Land Lease Framework Agreement. Subject to compliance with applicable laws and regulations and the articles of association of the Company and Shandong Zhaojin, the Land Lease Framework Agreement may be renewed for a further term of one year at the request of the Company. After the expiry of the term of the Subject Land Use Rights, if the Company needs to continue to lease the Subject Land Use Rights, Xxxxxxxx Xxxxxxx shall be responsible for renewing the term of the Subject Land Use Rights. The Company has the right to terminate the lease of some of the Subject Land Use Rights under the Land Lease Framework Agreement by giving one month’s prior written notice. Xxxxxxxx Xxxxxxx will lease the Subject Land Use Rights to the Company at market rates on a fair and reasonable basis. The parties to the Land Lease Framework Agreement have agreed that the rentals charged by Xxxxxxxx Xxxxxxx on the Company shall not be higher than the rentals charged by Xxxxxxxx Xxxxxxx on any independent third party at that time for the same type of land in the normal course of business. The annual rentals for the Subject Land Use Rights for the three years ending 31 December 2023 are expected to be RMB8.75 million, RMB8.70 million and RMB8.45 million, respectively. The rentals are payable by the Company to Shandong Zhaojin before 31 December of each year, in respect of the rentals of that year, by way of cash, bank transfer, bank acceptance bills or commercial bills. If the Company terminates the lease of all or some of the Subject Land Use Rights before the expiry of the Land Lease Framework Agreement, the rentals shall be paid on the basis of the actual term for the lease of such Subject Land Use Right(s). The Company shall be responsible for the water, electricity and heating bills, as well as expenses for making alterations and additions (if Xxxxxxxx Xxxxxxx consents to such alterations and additions) to the structures or buildings on the leased land. After the expiry of the lease term or termination of the Land Lease Framework Agreement, Xxxxxxxx Xx...
Sample 1
AutoNDA by SimpleDocs

Related to LAND LEASE FRAMEWORK AGREEMENT Date

  • Ground Lease Reserved.

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • MANAGEMENT AGREEMENT AND FRANCHISE AGREEMENT (a) At or prior to the Closing, Seller shall terminate the Existing Management Agreement and the Existing Franchise Agreement, and Seller shall be solely responsible for all claims and liabilities arising thereunder on, prior to or following the Closing Date, except termination or similar fees, which shall be paid by Buyer. Seller shall be responsible for paying all costs related to the termination of the Existing Management Agreement and Buyer shall be responsible for paying all reasonable and actual costs of the Franchisor related to the assignment or termination, as applicable, of the Existing Franchise Agreement. (b) At Closing, Buyer shall enter into the New Management Agreement in the form attached as Exhibit E and the New Franchise Agreement, effective as of the Closing Date, containing terms and conditions acceptable to Buyer (including, without limitation, such terms and conditions as may be required to accommodate Buyer’s and/or Buyer’s Affiliates’ REIT structure). (c) Seller shall use best efforts to promptly provide all information required by the Franchisor in connection with the New Franchise Agreement. Prior to the expiration of the Review Period, Buyer and Franchisor shall agree on the form and substance of the New Franchise Agreement. Except as otherwise provided in this Contract, the New Franchise Agreement shall contain such terms and conditions as are acceptable to Buyer in its sole and absolute discretion.

  • Agreement to Lease Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, according to the terms and conditions set forth herein, the Premises.

  • Management Agreement The Management Agreement is in full force and effect and there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Reciprocal Easement Agreements (a) Neither Borrower, nor any other party is currently in default (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of the REA, and the REA remains unmodified and in full force and effect; (b) All easements granted pursuant to the REA which were to have survived the site preparation and completion of construction (to the extent that the same has been completed), remain in full force and effect and have not been released, terminated, extinguished or discharged by agreement or otherwise; (c) All sums due and owing by Borrower to the other parties to the REA (or by the other parties to the REA to the Borrower) pursuant to the terms of the REA, including without limitation, all sums, charges, fees, assessments, costs, and expenses in connection with any taxes, site preparation and construction, non-shareholder contributions, and common area and other property management activities have been paid, are current, and no lien has attached on the Property (or threat thereof been made) for failure to pay any of the foregoing; (d) The terms, conditions, covenants, uses and restrictions contained in the REA do not conflict in any manner with any terms, conditions, covenants, uses and restrictions contained in any Lease or in any agreement between Borrower and occupant of any peripheral parcel, including without limitation, conditions and restrictions with respect to kiosk placement, tenant restrictions (type, location or exclusivity), sale of certain goods or services, and/or other use restrictions; and (e) The terms, conditions, covenants, uses and restrictions contained in each Lease do not conflict in any manner with any terms, conditions, covenants, uses and restrictions contained in the REA, any other Lease or in any agreement between Borrower and occupant of any peripheral parcel, including without limitation, conditions and restrictions with respect to kiosk placement, tenant restrictions (type, location or exclusivity), sale of certain goods or services, and/or other use restrictions.

  • Site Lease Facilities Lease, including Exhibits A-G

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted. (b) The Company does not own any real property or any interest in real property, except for the leasehold created under the real property lease identified in Part 2.10 of the Disclosure Schedule.

  • Existing Lock-Up Agreement The Company will enforce all existing agreements between the Company and any of its security holders that prohibit the sale, transfer, assignment, pledge or hypothecation of any of the Securities in connection with the Offering. In addition, the Company will direct the Company’s transfer agent to place stop transfer restrictions upon any such Securities of the Company that are bound by such existing “lock-up” agreements for the duration of the periods contemplated in such agreements.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!