Lease of Project. The Director, as lessor hereunder, in consideration of the rents, covenants and agreements herein stated, agrees to, and does hereby lease to the Company, as lessee hereunder, and the Company agrees to, and does hereby lease from the Director, subject to the provisions of this Lease, the Project for the Lease Term.
Lease of Project. Lessor hereby demises, leases and lets to Lessee, and Lessee rents, leases and hires from Lessor, the Project in accordance with the provisions of this Lease, to have and to hold for the Lease Term. All leasehold rights granted to Lessee by Lessor under this Lease shall vest in Lessee, without any further action on the part of Lessor. In order to secure all of its obligations hereunder, the Lessee hereby (i) grants to the Lessor a first and prior security interest in any and all right, title and interest of the Lessee in the portions of the Project that constitute personal property and in all additions, attachments, accessions, and substitutions thereto, and on any proceeds therefrom, (ii) agrees that this Lease may be filed as a financing statement evidencing such security interest, and (iii) agrees to execute and deliver all financing statements, certificates of title and other instruments necessary or appropriate to evidence such security interest. The Lessee hereby declares its current need for the Project and further determines and declares its expectations that the Project will (so long as it is subject to the terms hereof) adequately serve the needs for which it is being acquired throughout the Lease Term. The Lessee hereby determines and declares that, to the best of its knowledge, the period during which the Lessee has an option to purchase the Project (i.e. the maximum term of this Lease) does not exceed the useful life of the Project. In addition, Xxxxxx and Xxxxxx declare that it is their mutual interest for this Lease to be administered by CoLT.
Lease of Project. The Trustee hereby demises, leases, subleases and lets to the City, and the City rents, leases, subleases and hires from the Trustee, the Project in accordance with this Lease for the Lease Term.
Lease of Project. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, under the terms and conditions herein, the Project.
Lease of Project. In connection with any lease or grant by the Borrower of the use of the Project, the Borrower shall require that the lessee or user of any portion of the Project not use that portion of the Project in any manner which would violate the covenants set forth in the Tax Compliance Certificate or the Regulatory Agreement.
Lease of Project. The Issuer demises and leases to the Company, and the Company leases from the Issuer, the Facility, including the Project, subject only to Permitted Encumbrances, in accordance with the provisions of this Agreement, to have and to hold for the Lease Term.
Lease of Project. Simultaneously with the execution of this Development Agreement, Developer will cause Lessee to execute a lease of the Project from Owner in the form attached hereto as Exhibit 2.4 ("Lease").
Lease of Project. In consideration of the rents, covenants, agreements and conditions herein set forth which the Lessee agrees to pay, keep and perform, but subject to Article XIV, the Lessor does hereby let, demise and rent unto the Lessee, and the Lessee agrees to rent and lease from the Lessor, the Project.
Lease of Project. Except for leases of Units pursuant to ------------------ Borrower's plan to operate the Project as a resort, Borrower will not lease, sublease, license or grant any occupancy arrangement with respect to the Project, without the prior written consent of Lender except as otherwise expressly permitted under the Loan Agreement, Mortgage and the Assignment of Leases.
Lease of Project. Section 4.2.
