Lease Back. Seller uses the Property for its police station. Seller is constructing a new police station. Seller anticipates that its new police station will be completed prior to October 30, 2020. If Seller's new police station will not be completed by October 30, 2020, Seller shall have the right to lease the Property after closing for three separate thirty (30) day periods. Seller shall provide Buyer written notice of its exercise of its lease back right no later than October 23, 2020 with respect to the first 30- day period; no later than November 23, 2020, with respect to the second 30-day period; and no later than December 21, 2020 with respect to the third 30-day period. Such lease shall be made pursuant to the terms of Xxxxxxx Ness Form No. 1338 – Commercial Lease, Short Form. The monthly rent under the lease shall be $14,000. There shall be no security deposit. Seller shall use the leased premises for its police department. Seller as lessee shall maintain liability insurance of not less than $2,000,000.
Lease Back. With respect to each Property acquired by VMRE under the terms of this Agreement and any assets in connection therewith, VMRE shall lease (or sub-lease, as applicable) the Property to Carvana Lessee pursuant to an Operator Lease.
Lease Back. Concurrently with the Closing and as a condition to Seller’s obligations hereunder, Seller shall lease from Buyer the marina and boat storage operations on terms and conditions set forth in the Lease Back Agreement attached hereto as Exhibit L (the “Lease Back Agreement”).
Lease Back. The Borrower will not enter into or permit any of its Subsidiaries to enter into any arrangements, directly or indirectly, with any Person, whereby the Borrower or such Subsidiary, as the case may be, shall sell or transfer any property, whether now owned or hereafter acquired, used or useful in the Business, and then rent or lease the property so sold or transferred for substantially the same purpose or purposes as the property so sold or transferred, provided that so long as section 3.4 (Mandatory Prepayments) is complied with this section 8.2.5 shall not prohibit any such transaction that qualifies under item (x) of the definition of Permitted Encumbrances.
Lease Back. (a) Seller shall lease back the Hard Assets from Buyer, on an exclusive basis, pursuant to the Lease executed and delivered by the parties through Escrow at the Initial Closing in the form and content of Exhibit C, attached hereto. The period of the Lease shall be from the Initial Closing through the Final Closing (the “Lease Term”). Rent, at the rate of $40,000 per month (the “Lease Rent”) shall commence on August 1, 2018. No security deposit shall be required from Seller.
(b) The total Lease Rent of $120,000 for August, September and October, 2018 shall be deducted from Seller's proceeds (the “Lease Rent Holdback”) by Escrow Holder, shall be held in Escrow with Buyer’s other funds following the Initial Closing and shall be disbursed to Buyer at the rate of $40,000 per month commencing on August 1, 2018 and thereafter on the first day of September and October, 2018, provided, however, that in the event the Final Closing Date occurs prior to October 31, 2018, Lease Rent shall be prorated to the Final Closing Date and any remaining balance of the Lease Rent Holdback shall be disbursed by Escrow Holder to Seller from Escrow on the Final Closing Date.
(c) During the Lease Term, Seller shall be responsible, at Seller’s sole cost and expense, for normal and customary maintenance and insuring of the Hard Assets pursuant to the Casualty Policies listed on Schedule 6, attached hereto, but not for replacement of or capital improvements to the Hard Assets. Buyer shall be responsible, at Buyer’s sole cost and expense, for replacement of the Hard Assets and capital improvements, if any, and for the payment of all real and personal property taxes on the Hard Assets from the date of the Initial Closing.
(d) Buyer acknowledges that (i) prior to the Final Closing, Seller shall have exclusive possession and control of the Hard Assets and Buyer shall not be entitled to use or access the Hard Assets in any manner or for any purpose; and (ii) Buyer shall not acquire any direct or indirect ownership or profits interest or management authority whatsoever in Seller's Business and that Seller shall solely own, manage and operate Seller’s Business at all times prior to the Final Closing; and (iii) prior to the Final Closing, none of Seller’s employees shall assist, represent or in any way participate with Buyer or communicate with Seller's growers in order to influence such growers to enter into business with Buyer.
(e) Seller shall be granted the right to occupy up to 1,500 squar...
Lease Back. At Closing, Seller and Buyer shall enter into a lease agreement (the "Nashua Lease") for approximately 155,503 rentable square feet of the building located on the Property at 59 Xxxxxx Xxxxxxx Highway, in substantially the form attached hereto as Schedule 2.2. The Nashua Lease shall provide for a mutually-agreeable division of facility and building system management between Buyer and Seller. At Closing, Seller shall deliver a budget for operation of the Improvements containing reasonable compensation for any management and maintenance activities undertaken by Seller. Seller's lenders have conditioned their loans to Seller in the course of its business activity on Buyer's entering into a Collateral Access Agreement in the form hereto as Schedule 2.2(a), and Buyer shall execute such agreement in final form acceptable Nashua-Equity P&S Page 8 of 55 November 6, 2006 to Buyer, Seller, and LaSalle Bank National Association as Administrative Agent for said lenders.
Lease Back. Seller and Buyer hereby agree to the form of Lease Back Agreement attached hereto as Exhibit “B”, which Lease Back Agreement Seller shall enter into with Buyer at Closing.
Lease Back. At the Closing, Buyer and Seller shall execute and deliver through Escrow a lease for Seller’s continued occupancy of the Property as a tenant thereof, which lease shall be in the form attached hereto as Exhibit “F”, attached hereto (the “Lease”).
Lease Back. During the Inspection Period, AT&T Services, Inc. (“AT&T”) and Purchaser shall negotiate in good faith to finalize the terms of an absolute net net net bond lease for the Property whereby AT&T shall leaseback the entire Property for a primary lease term and with lease payments as provided therein (the “AT&T Services Lease”), and which AT&T Services Lease is guaranteed by AT&T Teleholdings, Inc. (“Teleholdings”), pursuant to an unconditional guaranty of payment (the “Guaranty”) in the form attached as an exhibit to the AT&T Services Lease.
Lease Back. At Closing, Seller shall become a Tenant of the Property and lease the building back from Purchaser for a period of no less than three years from Closing. Expenses will be handled on a triple-net basis with tenant paying all expenses (including Taxes, Insurance, Operating Expenses and CAM). The base rent shall be as follows:
