Common use of Lease of Property Clause in Contracts

Lease of Property. 1.1 The Lessor shall grant, and the Lessee (or the Lessee’s nominee) shall accept the lease of the Property on and from the Lease Commencement Date. 1.2 This Agreement shall be effective from the date hereof, but the lease shall commence on the date of when the Property is acquired by the Lessor (as shown on the title deed) (the “Lease Commencement Date”) and shall continue in force (subject to clause 3.2) for an initial period of twelve years therefrom (the “Initial Period”). In order to comply with local law requirements, the parties shall enter into a customary form lease agreement that will be registered with the relevant authorities in the United Arab Emirates, on the terms set forth in this Agreement, for the Initial Period, and any renewal thereafter pursuant to clause 4.1 (the “Local Lease”), provided however, in the event of any conflict or discrepancy between this Agreement and the Local Lease, this Agreement shall prevail. At least five business days prior to the Lease Commencement Date and each renewal period thereafter (if renewed pursuant to clause 4.1), the Lessor and the Lessee (or the Lessee’s nominee) shall sign the Local Lease. 1.3 On and from the Lease Commencement Date, the rent (the “Rent”) for the lease of the Property shall be AED [ ] per calendar year, calculated as 6% of the invested capital. The Rent shall be payable quarterly in arrears within 14 days following the end of March, June, September, and December each year (with the first and last quarter being pro-rated accordingly). The Lessee shall pay to the Lessor quarterly in arrears in respect of the Rent for each relevant quarter. This amount will be paid directly to the company shareholders from the escrow account. 1.4 During the Initial Period, the Lessee shall bear responsibility for, and pay, all costs and expenses incurred directly in relation to the Property, being (a) commercial license fee costs of the Lessor and its registered office costs, (b) maintenance costs and expenses of the Property, (c) local registration fees (such as Ejari fees) of the Local Lease, (d) insurance costs of the Property, (e) community, service and capacity charges of the Property, and (f) utilities (the “Property Costs”). 1.5 The Lessee is hereby authorized to execute any and all tenant notices with respect to the Property and make all any filings with Dubai Real Estate Regulatory Agency (RERA) or any other government authorities, including registering Leases and obtaining an Ejari for the Property.

Lease of Property. 1.1 The Lessor shall grant, and Prior to the Lessee (or the Lessee’s nominee) shall accept the lease termination of the Property on Inspection Period, (i) Tenant and from the Lease Commencement Date. 1.2 This Agreement Purchaser shall be effective from the date hereof, but the engage in good faith negotiations to draft and agree upon a triple-net master lease shall commence on the date of when the Property is acquired by the Lessor (as shown on the title deed) agreement in form and substance reasonably satisfactory to Tenant and Purchaser (the “Lease Commencement DateAgreement”). The Lease Agreement shall contain the essential terms and conditions provided in the Letter of Intent (the “Minimum Lease Terms”) and shall continue in force (subject to clause 3.2) for an initial period of twelve years therefrom (the “Initial Period”). In order to comply with local law requirements, the parties shall enter into a customary form lease agreement that will be registered with the relevant authorities in the United Arab Emirates, on the any additional terms set forth contemplated in this Agreement; it being understood if Tenant deviates from or attempts to renegotiate the Minimum Lease Terms, for then Purchaser shall have the Initial Period, and any renewal thereafter pursuant to clause 4.1 (the “Local Lease”), provided however, in the event option of any conflict or discrepancy between terminating this Agreement and the Local Lease, this Agreement shall prevail. At least five business days at any time prior to the Lease Commencement Date and each renewal period thereafter (if renewed pursuant to clause 4.1), the Lessor and the Lessee (or the Lessee’s nominee) shall sign the Local Lease. 1.3 On and from the Lease Commencement Date, the rent (the “Rent”) for the lease end of the Property Inspection Period, in which event the Deposit, if previously paid, shall be AED [ ] per calendar year, calculated as 6% of the invested capital. The Rent shall be payable quarterly in arrears within 14 days following the end of March, June, Septemberreturned to Purchaser, and December each year (with the first and last quarter being pro-rated accordingly). The Lessee Seller shall pay to the Lessor quarterly in arrears in respect Purchaser such amount to satisfy all of the Rent for each relevant quarter. This amount will be paid directly to the company shareholders from the escrow account. 1.4 During the Initial Period, the Lessee shall bear responsibility for, and pay, all Purchaser’s costs and expenses incurred directly in relation reliance on this Agreement (including, without limitation, its due diligence costs (to the Propertyextent not directly paid by Seller) and attorneys’ fees and costs, being and neither party shall have any further obligation or liability, except for the obligations set forth herein which are expressly stated to survive termination of this Agreement. Purchaser acknowledges that (ai) commercial license fee costs the Minimum Lease Terms do not include all the terms of a lease agreement and, in some cases, do not expressly and clearly described in full the matters reflected, and Tenant shall not be limited in its negotiation of any of the Lessor remaining terms that are not expressly and its registered office costs, (b) maintenance costs and expenses of clearly described in full in the Property, (c) local registration fees (such as Ejari fees) of the Local Lease, (d) insurance costs of the Property, (e) community, service and capacity charges of the PropertyMinimum Lease Terms, and (fii) utilities (while the “Property Costs”). 1.5 The Lessee is hereby authorized to execute any parties shall negotiate in good faith, each of Purchaser and all tenant notices with respect Tenant, as the case may be, may use their sole and absolute discretion in negotiating the final terms of the Lease Agreement. If Purchaser and Tenant have not agreed in writing on the final form of the Lease Agreement before the end of the Inspection Period, either Purchaser or Seller may terminate this Agreement by delivering written notice of such election to the other at any time until Purchaser and Tenant have agreed in writing on the final form of the Lease Agreement and, upon such termination, the Deposit shall be returned to Purchaser. If the parties have agreed on the final form of the Lease Agreement as provided herein, on the Closing Date, Tenant and Purchaser shall execute and deliver the Lease Agreement, pursuant to which Purchaser shall lease the Property to Tenant, at the rent and make all any filings with Dubai Real Estate Regulatory Agency (RERA) or any other government authorities, including registering Leases pursuant to the terms and obtaining an Ejari for the Propertyconditions contained therein.

Lease of Property. 1.1 The Lessor shall grant, and the Lessee (or the Lessee’s nominee) shall accept the lease of the Property on and from the Lease Commencement Date. 1.2 This Agreement shall be effective from the date hereof, but the lease shall commence on the date of when the Property is acquired by the Lessor (as shown on the title deed) (the “Lease Commencement Date”) and shall continue in force (subject to clause 3.2) for an initial period of twelve years therefrom (the “Initial Period”). In order to comply with local law requirements, the parties shall enter into a customary form lease agreement that will be registered with the relevant authorities in the United Arab Emirates, on the terms set forth in this Agreement, for the Initial Period, and any renewal thereafter pursuant to clause 4.1 (the “Local Lease”), provided however, in the event of any conflict or discrepancy between this Agreement and the Local Lease, this Agreement shall prevail. At least five business days prior to the Lease Commencement Date and each renewal period thereafter (if renewed pursuant to clause 4.1), the Lessor and the Lessee (or the Lessee’s nominee) shall sign the Local Lease. 1.3 On and from the Lease Commencement Date, the rent (the “Rent”) for the lease of the Property shall be AED [ ] 71,432 per calendar year, calculated as 6% of the invested capital. The Rent shall be payable quarterly in arrears within 14 days following the end of March, June, September, and December each year (with the first and last quarter being pro-rated accordingly). The Lessee shall pay to the Lessor quarterly in arrears in respect of the Rent for each relevant quarter. This amount will be paid directly to the company shareholders from the escrow account. 1.4 During the Initial Period, the Lessee shall bear responsibility for, and pay, all costs and expenses incurred directly in relation to the Property, being (a) commercial license fee costs of the Lessor and its registered office costs, (b) maintenance costs and expenses of the Property, (c) local registration fees (such as Ejari fees) of the Local Lease, (d) insurance costs of the Property, (e) community, service and capacity charges of the Property, and (f) utilities (the “Property Costs”). 1.5 The Lessee is hereby authorized to execute any and all tenant notices with respect to the Property and make all any filings with Dubai Real Estate Regulatory Agency (RERA) or any other government authorities, including registering Leases and obtaining an Ejari for the Property.

Lease of Property. 1.1 The Lessor shall grant, and the Lessee (or the Lessee’s nominee) shall accept the lease of the Property on and from the Lease Commencement Date. 1.2 This Agreement shall be effective from the date hereof, but the lease shall commence on the date of when the Property is acquired by the Lessor (as shown on the title deed) (the “Lease Commencement Date”) and shall continue in force (subject to clause 3.2) for an initial period of twelve years therefrom (the “Initial Period”). In order to comply with local law requirements, the parties shall enter into a customary form lease agreement that will be registered with the relevant authorities in the United Arab Emirates, on the terms set forth in this Agreement, for the Initial Period, and any renewal thereafter pursuant to clause 4.1 (the “Local Lease”), provided however, in the event of any conflict or discrepancy between this Agreement and the Local Lease, this Agreement shall prevail. At least five business days prior to the Lease Commencement Date and each renewal period thereafter (if renewed pursuant to clause 4.1), the Lessor and the Lessee (or the Lessee’s nominee) shall sign the Local Lease. 1.3 On and from the Lease Commencement Date, the rent (the “Rent”) for the lease of the Property shall be AED [ ] 163,260 per calendar year, calculated as 6% of the invested capital. The Rent shall be payable quarterly in arrears within 14 days following the end of March, June, September, and December each year (with the first and last quarter being pro-rated accordingly). The Lessee shall pay to the Lessor quarterly in arrears in respect of the Rent for each relevant quarter. This amount will be paid directly to the company shareholders from the escrow account. 1.4 During the Initial Period, the Lessee shall bear responsibility for, and pay, all costs and expenses incurred directly in relation to the Property, being (a) commercial license fee costs of the Lessor and its registered office costs, (b) maintenance costs and expenses of the Property, (c) local registration fees (such as Ejari fees) of the Local Lease, (d) insurance costs of the Property, (e) community, service and capacity charges of the Property, and (f) utilities (the “Property Costs”). 1.5 The Lessee is hereby authorized to execute any and all tenant notices with respect to the Property and make all any filings with Dubai Real Estate Regulatory Agency (RERA) or any other government authorities, including registering Leases and obtaining an Ejari for the Property.