Lease Adjustments Sample Clauses

Lease Adjustments of the Lease contemplates that, under certain circumstances, the Owner Participant will make certain recalculations and the Owner Participant hereby agrees to promptly take such actions as may be necessary or desirable to give effect to and to cause the Owner Trustee to give effect to the provisions of Section 3.7

Lease Adjustments. Adjustments related to the Leases and Occupancy Agreements shall be calculated as follows (the “Lease Adjustments”): (i) Base Rent and Additional Rent shall be apportioned as of as of the Closing Date (again, consistent with the concept that all revenues and expenses of the Property shall be attributable to Purchaser as of 12:01 a.m. on the Closing Date), and Additional Rent and other charges to Tenant shall be apportioned in the same manner for the Closing, but Additional Rent and other charges shall be reapportioned on the basis of the actual amount of Additional Rent and other charges equitably allocable to each party at a later time as set forth below. If Tenant is in arrears in the payment of Base Rent or Additional Rent, then any Base Rent or Additional Rent due and payable as of the Closing Date, but not actually collected on or prior to the Closing Date, shall not be apportioned until such rent is collected, at which point it will be apportioned as provided in Section 3.03(c)(iv) for Base Rent and Section 3.03(c)(ii) for Additional Rent. (ii) The parties acknowledge that certain apportionments relating to Additional Rent and other charges to Tenant may not be determinable until after Closing. Any such apportionments shall be calculated as soon as reasonably practicable, but in no event later than six (6) months following the Closing Date and then reapportioned based upon the mutually agreeable final calculation. Such final apportionments shall be made (A) for Additional Rent and other charges that are for costs and expenses, depending on whether Seller or Purchaser paid such cost and expenses and (B) for Additional Rent and other charges that are to compensate landlord for, among other things, late payments of rent and amounts expended by landlord on Tenant’s behalf, on the basis of when the payment was due and payable and whether Seller or Purchaser owned the Property when such funds were expended on behalf of Tenant. Additional Rent and other charges that do not fit into the above categories shall be finally apportioned on an equitable basis based on periods of ownership of the Property and bearing of economic risk with respect to an item. Additional Rent shall be apportioned between the parties as set forth in this Section 3.03(b)(ii) regardless of whether such payments are made on a timely basis or in arrears. In addition, any Additional Rent payments that are made to pay a specified invoice (such as the electric service payments made monthly b...

Lease Adjustments. Unless otherwise instructed by Owner in writing not to renew leases, Agent will automatically prepare a one-year renewal lease for the tenant(s) and transmit same to tenant(s) for signature along with a request for current pay stubs. The Owner is responsible for securing a bank consent letter or sending the Agent a letter stating that a bank consent letter is not applicable. The $300.00 sublet renewal fee is reduced to $200.00 for managed units. Owner must advise Agent 90 days prior to lease expiration of any changes in the current rent amount. If Owner would like to sublet to a new tenant, Agent will work with prospective tenant(s) in completing all of the required documentation. Owner is still responsible for submitting a sublet package, however, no fee is required if done within the first six (6) months after original sublet package date. The $300.00 fee will be required if a sublet renewal fee has already been waived in a contract year. Agent will adjust and cancel leases, or settle and compromise claims, whenever expedient, by or against tenant(s).

Lease Adjustments. 36 (v) Revocation of Trust Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 (w) [Intentionally Reserved] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 (x) Withholding Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 (y) Discharge of Trust Indenture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 (z) Permitted Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 (aa) Special Purchase Option. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 (bb) Transfers of Debt Interests. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 (cc) [Intentionally Reserved] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 (dd) Deferred Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 (ee) Lessee as Pricing Agent for Certificate . . . . . . . . . . . . . . . . . . . . . . . 40 SECTION 9. Payments to Lessee of Trust Indenture Monies . . . . . . . . . . . . . . . . . . . . . . . . 40 SECTION 10. Other Documents; Amendment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 SECTION 11. Certain Covenants of Lessee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 (a) Further Assurances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 (b) Filing and Recording, Etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 (c) FAA Filings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 (d) Annual Compliance Opinions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 (e) Engine Purchase Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 PARTICIPATION AGREEMENT [N604SW] -iii- 5 (f) Merger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 (g) Corporate Existence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 (h) Certificate Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 (i) No Certificate Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

Lease Adjustments. Commencing on January 1, 2024: (a) The Office Component Area as defined in Section 1.1(j) shall be 640,844 square feet. (b) Tenant’s Proportionate Share as defined in Section1.1(n) shall be 16,787 / 640,844 = 2.62%. (c) The first two sentences of Section 5.1 of the Lease shall be deleted and replaced with the following: “Tenant shall be entitled to use, and shall be required to purchase, forty-seven (47) parking passes in the parking facilities serving the Office Component. Tenant shall pay Landlord’s market rates for such passes.” The parties acknowledge that as of the date of this Amendment, the rate for such parking passes is [***] per month, per pass.

Lease Adjustments a. Section 3(a) of the Sixth Amendment is hereby deleted and the following Section 3(a) is inserted in place thereof: i. Tenant shall pay to Landlord Base Rent for the Premises, without set off, deduction or demand, at the applicable rate(s) set forth in the Lease through July 31, 2022; provided, however, that provided no Event of Default by Tenant exists under the Lease, Landlord will grant Tenant an abatement of one hundred percent (100%) of the Base Rent payable under the Lease for the Premises for the three calendar months of June 2021, July 2021 and August 2021. Notwithstanding the foregoing, the rent escalation under the Lease shall be based on the full and unabated amount of Base Rent payable under the Lease. ii. Section 3(b)(iii) of the Sixth Amendment is hereby deleted in its entirety and of no further force or effect.

Lease Adjustments. A. Assignee shall pay to Tenant on the Effective Date the sum of $140,271.90 for the following: (i) $79,197.00 for the Security Deposit held by Landlord which has been assigned to Assignee; (ii) $23,972.08 representing pro-rated real estate taxes and fees assessed on the Premises for the tax year July 1, 2008 to June 30, 2009 paid by Tenant in November 2008 covering the period from the Effective Date through June 30, 2009; (iii) $10,652.08 representing pro-rated personal property taxes assessed Tenant for Tenant’s personal property located at the Premises for the tax year July 1, 2008 to June 30, 2009 paid by Tenant in November 2008 covering the period from the Effective Date through June 30, 2009; (iv) $2,000.00 representing the transaction fee paid by Tenant to Landlord as required in Section 1(ii) of the Landlord consent to Assignment and Estoppel to reimburse Landlord’s time and attorney fees to process the request to assign; and (v) $24,450.74 representing pro-rated Base Rent paid by Tenant for the month of December 2008 covering the period from the Effective Date through December 31, 2008. B. Tenant’s utility accounts with Allegheny Power (electric), City of Xxxxxxxxx (water and sewer), Washington Gas, and Waste Management (trash) shall be cancelled as of the Effective Date with Tenant paying all charges through the date immediately preceding the Effective Date. Assignee shall be make arrangements with the applicable utility company for obtaining such utility services in its own name and at its expense as of the Effective Date.

Lease Adjustments. If, at any time on or prior to the second (2nd) year anniversary of the Closing Date, the Buyer is required under the terms of an Assumed Lease to pay any additional amounts under such Assumed Lease as a year-end adjustment on the part of the relevant lessor, the Sellers shall reimburse the Buyer for a pro rata amount of such year-end adjustment allocated to the portion of such year ending on the Closing Date (each, a “Seller Lease Adjustment”). Additionally, if, at any time on or prior to the second (2nd) year anniversary of the Closing Date, the Buyer receives any refunded rental payments in respect of an Assumed Lease relating to any period ending on or prior to the Closing Date, the Buyer shall remit to the Sellers the pro rata portion of such payments allocated to the portion of such year ending on the Closing Date (each, a “Refunded Lease Payment”). If the Sellers dispute the amount of any Seller Lease Adjustment or Refunded Lease Payment, the Sellers and the Buyer shall jointly negotiate such amounts with the applicable landlord and the amount of any Seller Lease Adjustment or Refunded Lease Payment shall not be finalized with a landlord without the prior written approval of the Sellers, which shall not be unreasonably withheld, conditioned or delayed.

Lease Adjustments. 35 (v) Revocation of Trust Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 (w) [Intentionally Reserved]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 (x) Withholding Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 (y) Discharge of Trust Indenture. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 (z)

Lease Adjustments. (a) Articles XXXI and XXXII of the Lease (as amended), and Tenant rights to reduce the size of the Premises and to terminate the Lease set forth therein, are hereby deleted and of no further force or effect, and Tenant hereby waives any Lease Term extension, acceleration, termination and expansion rights that Tenant has or might hereafter have under the Lease (whether fixed, right of opportunity or otherwise), except as expressly set forth in Article XXX of the Lease (as amended by the Third Amendment) and Rider No. 1 attached to the Lease (as amended by the Third Amendment and this Amendment). (b) The last sentence of Section 1.3 of the Lease is hereby deleted and the following is inserted in place thereof: Furthermore, it is understood and agreed that Landlord shall have the continuing right to cause its architect to re-measure the Building, provided that such re-measurement is conducted without interfering with Tenant's use of the Premises, but neither Tenant's Base Rent nor Tenant's Proportionate Share (as defined below) of Operating Expenses may be increased as a consequence of any such re-measurement. (i) Section 5.1(a) of the Lease is hereby deleted and the following is inserted in place thereof: Landlord is currently in possession of a Letter of Credit in the amount of One Million Seven Hundred Seventy-Five Thousand Three Hundred Seventy-Seven and 32/100th Dollars ($1,775,377.32), as a security deposit (hereinafter referred to as “security deposit” or “Security Deposit”). Among other things Landlord has assigned (or intends to assign) to the holder of the mortgage now or hereafter encumbering the Building, all of Landlord’s interest in this Lease, including, without limitation, the Security Deposit. (ii) Section 5.1(d) of the Lease is hereby deleted and the following table is inserted in place thereof: Provided that, as of the Reduction Date (as defined below), (i) no monetary default or material non-monetary Event of Default has occurred and is then continuing under this Lease and (ii) Tenant has annual revenues of no less than $350 million (in 0000 Xxxxxx Xxxxxx Dollars) and is publicly traded on a nationally recognized stock exchange, Tenant shall have the right to reduce the security deposit by the amount set forth below with respect to each Reduction Date: (iii) The second sentence of the paragraph immediately following the table set forth in Section 5.1(d) is hereby deleted. (iv) The last sentence of Section 5.1(d) of the Lease is hereby dele...