Lease of Ground Interest Sample Clauses

Lease of Ground Interest. The Ground Lessor hereby leases Ground Interest to the Ground Lessee, upon the terms and conditions set forth herein, for the term and renewal terms described below, and the Ground Lessee hereby leases Ground Interest from the Ground Lessor. The Ground Lessor and the Ground Lessee understand and agree that (a) fee title to Ground Interest remains vested in the Ground Lessor, and (b) this Site Lease and Sublease is subject to the Permitted Encumbrances.
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Lease of Ground Interest. (a) The Ground Lessor hereby conveys, grants and assigns to the Ground Lessee for the Site Lease Term the following (collectively, the "Ground Interest"): (i) the leasehold interest in --------------- the Facility Site, (ii) the right, privilege and license to use the Cross Easement Rights (except those easements or rights set forth in Section 2.3(e) of the Cross Easement Agreement), (iii) the right, privilege and license to use the Retained Power and Control Lines for the transmission of electric power, together with a non-exclusive easement for Access to the Retained Power and Control Lines Site as may be reasonably necessary in connection with such use and the right, privilege and license to use the Access rights granted to the Company under the CH Retained Power and Control Lines Easement with respect to the Central Xxxxxx Real Property (as such term is defined in such easement) as may be reasonably necessary in connection with such use, (iv) the right, privilege and license to use the Dock Facilities, together with a non-exclusive easement for Access over and across the Dock Facility Site as may be reasonably necessary in connection with such use, (v) the right, privilege and license to use the Retained Oil Pipeline, and (vi) the right, privilege and license to use the railroad tracks located on the Facility Site (the "Railroad Tracks"), --------------- together with an easement for Access over and across the Additional Facility Site (including all access roads and parking lots) as may be reasonably necessary in connection with exercising any of the rights granted to the Ground Lessee in this Site Lease (including rights granted in Section 5.1), provided, however, that in the case of each of clauses (ii)-(vi) above, each such right, privilege and license shall be limited to use thereof in substantially the same manner and to substantially the same extent as utilized for the use and operation of the Facility prior to the Closing Date, except that (1) during the Site Sublease Term the Ground Sublessee may increase the manner and extent of utilization of the Cross Easement Rights, the Retained Power and Control Lines, the Dock Facilities, the Retained Oil Pipeline or the Railroad Tracks, as the case may be, to be more beneficial to the Ground Sublessee in connection with the use and operation of the Facility (which increase in manner or extent of utilization shall be authorized under this Site Lease), and (2) if the manner or extent of the utilization of...
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Lease of Ground Interest. The Ground Lessor hereby leases the Ground Interest to the Ground Lessee, and the Ground Lessee hereby leases the Ground Interest from the Ground Lessor. The Ground Lessor and the Ground Lessee understand and agree that (a) this lease of the Ground Interest is subject to the limitations identified in the definition of Ground Interest, (b) legal title to the Clover Real Estate, including the Unit 2 Site and the Common Facilities Site, remains vested in Old Dominion and Virginia Power as tenants-in-common, and (c) this lease of the Ground Interest is subject and subordinate to the lien of the Old Dominion Indenture (including any future amendments, supplements or issuance of additional advances or indebtedness thereunder), Permitted Encumbrances and the rights of Virginia Power under the Clover Agreements.
Sample 1
Lease of Ground Interest. The Ground Lessor hereby leases the Ground Interest, upon the terms and conditions set forth herein, to the Ground Lessee for the term and renewal terms described below, and the Ground Lessee hereby leases the Ground Interest from the Ground Lessor. The Ground Lessor and the Ground Lessee understand and agree that (a) this lease of the Ground Interest is subject to the limitations identified in the definition of Ground Interest, (b) legal title to the Rocky Mountain Site remains vested in the Ground Lessor and Georgia Power as tenants-in-common, (c) this lease of the Ground Interest is subject and subordinate to the lien of the Oglethorpe Mortgage and the encumbrances described in the Title Report, and (d) this Ground Lease is subject to the provisions of the Resource Management Agreement.
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Lease of Ground Interest. The Ground Lessor hereby leases the Ground Interest to the Ground Lessee and the Ground Lessee hereby leases the Ground Interest from the Ground Lessor on the terms and conditions hereof. The parties hereto acknowledge and agree that legal title to the Clover Real Estate, including the Unit 1 Site and the Common Facilities Site, shall at all times remain in the Ground Lessor and Virginia Power, as tenants-in-common, and that the Ground Interest is subject to the Lien of the Old Dominion Indenture, Permitted Encumbrances and the rights of Virginia Power under the Clover Agreements.
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Related to Lease of Ground Interest

  • Triple Net Lease Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a “TRIPLE NET” lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant’s operation therefrom to the extent provided in this Lease. To the extent such costs and expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as Additional Rent.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Lease of Premises Landlord hereby demises and leases to Tenant for the Term of this Lease and upon the terms and conditions hereinafter set forth, and Tenant hereby accepts from Landlord, the Premises.

  • Calculation of Rent All calculation of Rent payable hereunder shall be computed based on the actual number of days elapsed over a year of three hundred sixty (360) days or, to the extent such Rent is based on the Prime Lending Rate, three hundred sixty-five (365) (or three hundred sixty-six (366), as applicable) days.

  • WORK LETTER This Lease is supplemented by that certain Work Letter of even date executed by Lessor and Lessee, attached hereto as Exhibit C, and incorporated herein by this reference.

  • Existing Lease (a) The Port Authority and the Lessee's predecessor in interest, The First Boston Corporation, have heretofore entered into an agreement of lease dated as of May 10, 1979, and identified by Port Authority Lease No. WT-2209-N-6 (1497), which agreement of lease, as the same has been heretofore supplemented and amended, is hereinafter called the "Existing Lease". (b) Effective as of 11:59 o'clock P.M. on December 31, 1998 (which date and hour is hereinafter referred to as the "Existing Lease Surrender Date"), the Lessee hereby surrenders and yields up and does by these presents grant, bargain, sell, surrender and yield up to the Port Authority, its successors and assigns, forever the entire premises under the Existing Lease (such premises under the Existing Lease being hereinafter referred to as the "Existing Premises") and the term of years with respect thereto under the Existing Lease yet to come, and has given, granted and surrendered and by these presents does give, grant and surrender to the Port Authority, its successors and assigns, all the rights, rights of renewal, licenses, privileges and options of the Lessee granted by the Existing Lease with respect to the Existing Premises, all to the intent and purpose that the said term under the Existing Lease and the said rights of renewal, licenses, privileges and options may be wholly merged, extinguished and determined on the Existing Lease Surrender Date with the same force and effect as if the said term were in, and by the provisions of the Existing Lease originally fixed to expire on such date and further to the extent and purpose that all obligations and rights of the parties under the Existing Lease end on the Existing Lease Surrender Date except for accrued obligations which are unpaid or unsatisfied thereunder on such Existing Lease Surrender Date. (c) The Lessee shall not be required to remove or change any of the construction or installation work performed, or any improvements made, in the Existing Premises, or to remove therefrom any furniture, equipment, signs, inventories, trade fixtures and/or other personal property of the Lessee or for which the Lessee is responsible as of the Existing Lease Surrender Date. The Lessee's continued occupancy of the Existing Premises after the Existing Lease Surrender Date pursuant to the provisions of this Agreement shall be deemed delivery by the Lessee to the Port Authority of the Existing Premises for the purposes of paragraph (b) of this Section. (d) The Lessee shall have the non-exclusive right, subject to and in accordance with the terms and conditions of this Agreement, to continue to use, maintain and replace for the term of the letting hereunder all ducts and conduits it was permitted to use under the Existing Lease solely for the purposes it was permitted to use same for its operations under the Existing Lease.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Original Lease The single executed original of this Lease marked "THIS COUNTERPART IS THE ORIGINAL EXECUTED COUNTERPART" on the signature page thereof and containing the receipt of the Lessor therefor on or following the signature page thereof shall be the Original Executed Counterpart of this Lease (the "Original Executed Counterpart"). To the extent that this Lease constitutes chattel paper, as such term is defined in the Uniform Commercial Code as in effect in any applicable jurisdiction, no security interest in this Lease may be created through the transfer or possession of any counterpart other than the Original Executed Counterpart.

  • Sale of Premises by Landlord In the event of any sale of the Building, Landlord shall be and is hereby entirely freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from this Lease arising out of any act, occurrence or omission occurring after the consummation of such sale; and the purchaser, at such sale or any subsequent sale of the Premises shall be deemed, without any further agreement between the parties or their successors in interest or between the parties and any such purchaser, to have assumed and agreed to carry out any and all of the covenants and obligations of the Landlord under this Lease.

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