LEASE OF THE UNDIVIDED INTEREST Sample Clauses

LEASE OF THE UNDIVIDED INTEREST. Upon the terms and conditions set forth herein, the Owner Lessor hereby leases the Undivided Interest to the Facility Lessee, and the Facility Lessee hereby leases the Undivided Interest from the Owner Lessor, for the Basic Lease Term and, subject to the Facility Lessee's exercise of any of its options to renew this Facility Lease as provided in SECTION 15, one or more Renewal Lease Terms. The Facility Lessee and the Owner Lessor understand and agree that this Facility Lease is subject to those encumbrances set forth in the Title Policies. The Undivided Interest shall be subject to the terms of this Facility Lease from the date on which this Facility Lease is executed and delivered.
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LEASE OF THE UNDIVIDED INTEREST. The Lessor hereby leases the Undivided Interest, upon the terms and conditions set forth herein, to the Lessee for the Lease Interim Term, the Lease Basic Term and, subject to the Lessee's exercise of any Renewal Option, one or more Renewal Terms, and the Lessee hereby leases the Undivided Interest, upon the terms and conditions set forth herein, from the Lessor. The Lessee and the Lessor understand and agree that this Lease is subject to Permitted Encumbrances. The Undivided Interest shall be subject to the terms of this Lease from the date on which this Lease is executed and delivered.
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LEASE OF THE UNDIVIDED INTEREST. The Head Lessor hereby leases the Undivided Interest, upon the terms and conditions set forth herein, to the Head Lessee for the term and renewal terms, if any, described below, and the Head Lessee hereby leases the Undivided Interest from the Head Lessor. The Head Lessor and the Head Lessee understand and agree that (a) this Head Lease of the Undivided Interest is subject to the limitations identified in the definition of Undivided Interest, (b) legal title to the Facility remains vested in the Head Lessor and Georgia Power as tenants-in-common, (c) this Head Lease of the Undivided Interest is subject and subordinate to the Lien of the Oglethorpe Mortgage and the encumbrances described in the Title Report, and (d) this Head Lease is subject to those encumbrances set forth in the Title Report.
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LEASE OF THE UNDIVIDED INTEREST. Upon the terms and conditions set forth herein, the Owner Lessor hereby leases the Undivided Interest to the Facility Lessee, and the Facility Lessee hereby leases the Undivided Interest from the Owner Lessor, for the Basic Lease Term and, subject to the Facility Lessee's exercise of any of the Renewal Options as provided in Section 15, one or more Renewal Lease Terms. The Facility Lessee and the Owner Lessor understand and agree that this Facility Lease is subject to those encumbrances set forth in the Title Policies. The Undivided Interest shall be subject to the terms of this Facility Lease from the date on which this Facility Lease is executed and delivered.
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LEASE OF THE UNDIVIDED INTEREST. The Facility Sublessor hereby leases the Undivided Interest, upon the terms and conditions set forth herein, to the Facility Sublessee for the Sublease Basic Term and Sublease Renewal Term, if any, and the Facility Sublessee hereby leases the Undivided Interest, upon the terms and conditions set forth herein, from the Facility Sublessor. The Facility Sublessee and the Facility Sublessor understand and agree that (a) this lease of the Undivided Interest is subject to the interest of the Head Lessee under the Head Lease, the interest of the Facility Lessee under the Facility Lease and the interests identified in the definition of Undivided Interest, (b) legal title to the Facility remains vested in Oglethorpe and Georgia Power as tenants-in-common, (c) this lease of the Undivided Interest is subject and subordinate to the Lien of the Oglethorpe Mortgage and (d) this lease is subject to those encumbrances set forth in the Title Report. The Undivided Interest shall be subject to the terms of this Facility Sublease from the date on which this Facility Sublease is executed and delivered.
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LEASE OF THE UNDIVIDED INTEREST. The Facility Lessor hereby leases the Undivided Interest, upon the terms and conditions set forth herein, to the Facility Lessee for the Basic Term and the Renewal Term, if any, and the Facility Lessee hereby leases the Undivided Interest, upon the terms and conditions set forth herein, from the Facility Lessor. The Facility Lessee and the Facility Lessor understand and agree that (a) this lease of the Undivided Interest is subject to the interest of the Head Lessee under the Head Lease and the interests identified in the definition of Undivided Interest, (b) legal title to the Facility remains vested in the Head Lessor and Georgia Power as tenants-in-common, (c) this lease of the Undivided Interest is subject and subordinate to the Lien of the Oglethorpe Mortgage, and (d) this lease is subject to those encumbrances set forth in the Title Report. The Undivided Interest shall be subject to the terms of this Facility Lease from the date on which this Facility Lease is executed and delivered.
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LEASE OF THE UNDIVIDED INTEREST 
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Related to LEASE OF THE UNDIVIDED INTEREST

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Penalty Interest (1) If the loan is overdue or not used for the purpose specified in the contract, from the date of overdue or misappropriation, the penalty interest shall be calculated and collected according to the penalty interest rate specified in this paragraph for the overdue or misappropriated part until the principal and interest are paid off. For overdue and misappropriated loans, the penalty interest shall be calculated and charged at higher penalty interest rate. (2) For the interest and penalty interest that cannot be paid on time by the borrower, compound interest shall be calculated and collected by the interest settlement method described in paragraph 3 of this article. (3) Penalty interest rate Penalty Interest Rate of the Floating Rate Loan A. The interest rate shall float according to the floating period specified in this article from the date of overdue or misappropriation. B. The penalty interest rate of overdue loan is 50% higher than the penalty interest base rate determined in item C of this article, and the penalty interest rate of misappropriated loan is 100% higher than the penalty interest base rate. C. In the first floating cycle of the loan, the penalty prime rate is the actual current interest rate in the cycle when overdue or misappropriation occurs. At the end of each cycle, the penalty interest prime rate of the next floating cycle will be adjusted on the repricing date by using the method specified in paragraph 1 of this article.

  • Transfer of Landlord’s Interest Tenant acknowledges that Landlord has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees to look solely to such transferee for the performance of Landlord’s obligations hereunder after the date of transfer and such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Landlord, including the return of any Security Deposit, and Tenant shall attorn to such transferee.

  • Beneficial Interest The interest of the beneficiaries hereunder shall be divided into an unlimited number of transferable shares of beneficial interest, par value $.001 per share. All Shares issued in accordance with the terms hereof, including, without limitation, Shares issued in connection with a dividend in Shares or a split of Shares, shall be fully paid and, except as provided in the last sentence of Section 3.8, nonassessable when the consideration determined by the Trustees (if any) therefor shall have been received by the Trust.

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • Shares of Beneficial Interest The Trust is authorized (A) to issue one or more series of beneficial interests within the meaning of Section 3804(a) of the Delaware Act, which shall constitute the Trust's Portfolio(s), and (B) to divide the shares of any Portfolio into one or more separate and distinct Classes. The beneficial interests of the Trust shall be divided into an unlimited number of Shares, with par value of $0.01 per Share. All Shares issued hereunder, including without limitation, Shares issued in connection with a dividend or other distribution in Shares or a split or reverse split of Shares, shall be fully paid and nonassessable.

  • Payment By Landlord; Interest Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing any obligation of Tenant hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate permitted by law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to mitigate any damages resulting from Tenant’s Default hereunder.

  • Interim Interest If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

  • Interest After Default To the extent permitted by Law, upon the occurrence of an Event of Default and until such time such Event of Default shall have been cured or waived, and at the discretion of the Administrative Agent or upon written demand by the Required Lenders to the Administrative Agent:

  • Initial Capital Contribution of Owner Trust Estate The Transferor hereby sells, assigns, transfers, conveys and sets over to the Owner Trustee, as of the date hereof, the sum of $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Transferor, as of the date hereof, of the foregoing contribution, which shall constitute the initial Owner Trust Estate and shall be deposited in the Certificate Distribution Account. The Transferor shall pay organizational expenses of the Issuer as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses paid by the Owner Trustee.

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