Common use of Leasehold Estate Clause in Contracts

Leasehold Estate. The Authority will be, on the date of the delivery of the Bonds, the owner and lawfully possessed of the leasehold estate described in the Site Lease, and the Facilities Lease will be, on the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site Lease, the Site Lease will be lawfully made by the County and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities Lease, and the Facilities Lease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities Lease, or would or might be a ground for cancellation or termination of the Facilities Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Lease, will deliver the same, or a copy thereof, to the Trustee.

Leasehold Estate. (a) This mortgage is intended to have effect as security and is intended to be a mortgage under the Land Titles Act of Alberta, provided that if the principles of common law are applicable to this mortgage, notwithstanding anything to the contrary contained herein, this mortgage will not operate as a transfer or assignment to the Mortgagee of the entire leasehold estate of the Mortgagor in the Premises. The Authority Mortgagor will, by the granting of this mortgage, have subleased to the Mortgagee its leasehold estate in the Premises for and during the residue of the term of the Head Lease, except the last day thereof, at a total rent for such sublease of $1.00, a receipt of which is hereby acknowledged by the Mortgagor. (b) The Mortgagor will beat all proper times take such proceedings and make, on do and execute all such acts, deeds, matters and things as may be required for obtaining the renewal of any lease (including, without limitation, the Head Lease) under which the Mortgagor derives a leasehold interest in the Premises. Upon the Mortgagor obtaining any such renewal this mortgage will extend to the term of such renewal, save and except the last day of such renewal terms, and all such renewals will be subject to this mortgage. (c) The Mortgagor has the right, power and authority to mortgage and sublet its leasehold estate in the Premises. (d) The Head Lease is at the date of this mortgage good, valid and subsisting in law and has not been and is not surrendered, forfeited, void or voidable. All rents and covenants therein reserved and contained have been duly paid and performed by the delivery of Mortgagor up to the Bondsdate hereof. (e) If this mortgage is considered a sublease to the Mortgagee as aforesaid, the owner and lawfully Mortgagor will stand possessed of the leasehold estate described Premises for the residue of the term granted by the Head Lease in trust for the Site LeaseMortgagee, and will assign and dispose thereof as the Facilities Lease will beMortgagee directs subject as herein provided. The Mortgagor will, on at the date of delivery request of the BondsMortgagee but at the cost, a valid subsisting demise for the term therein set forth charge and expense of the property which Mortgagor, grant and assign to the Mortgagee, or to whom it purports to demise. At may appoint, the time last day of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site Lease, the Site Lease will be lawfully made by the County and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities Lease, and the Facilities Lease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be doneterm hereinbefore excepted, or any renewal or substituted term. (f) If the Mortgagor refuses or neglects to renew the Head Lease or any renewals thereof, and to pay the fees, costs, charges and expenses incidental to and payable upon such omission of renewals, then and as often as it happens, the Mortgagee may, if it think proper, effect such renewals in its own name or refraining from action, would or might otherwise. In that case the Head Lease as renewed and the Premises will remain and be a ground security to the Mortgagee for declaring a forfeiture the payment of the Facilities Lease, or would or might be a ground for cancellation or termination of the Facilities Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received money paid by it showing compliance with the provisions for such renewal and costs, charges and expenses as for any other sums that may be due by virtue of the Facilities Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Lease, will deliver the same, or a copy thereof, to the Trusteethis mortgage.

Leasehold Estate. The Authority will beMortgagor holds a valid and binding leasehold interest in the Leasehold Estate, which Leasehold Estate is subject to no prior liens, conveyances or encumbrances except as set forth on Exhibit B hereto; Mortgagor may lawfully mortgage and assign the date same and this Mortgage does not violate any other agreement by which the Mortgagor is bound. Mortgagor shall not hereafter assign, sublease, encumber or transfer any interest in or under the Leasehold Estate or consent to any subordination of the delivery Leasehold Estate while the Secured Obligations remain outstanding or committed for, except with the prior written consent of the BondsMortgagee. Each Lease is in full force and effect in accordance with its terms and there have been no changes, alterations or amendments to the owner Leases. Mortgagor will make no material, adverse changes, alterations or amendments to the Leases without prior written consent of Mortgagee, its successors or assigns; any such changes to be void and lawfully possessed of no effect without such consent. Except as disclosed in writing to Mortgagee, all rents and payments under the leasehold estate described in Leases have been paid to the Site Leaseextent payable to date; and no defaults exist under the Leases, and no event has occurred or is occurring which, with the Facilities Lease passage of time or service of notice, or both, would constitute an event of default thereunder. Mortgagor will bewell and truly perform, on or cause to be performed, all its obligations and agreements as lessee under the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site Lease, the Site Lease will be lawfully made by the County and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities LeaseLeases, and the Facilities Lease will be duly under any renewals or extensions thereof and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease to be kept, performed and complied with by it. The Authority will not do or permit suffer anything which will impair any Lease or which would be an event of default thereunder. Mortgagor shall exercise all renewals of the term of any Lease while the obligations secured hereby remain outstanding or committed for, except where the failure to be doneso renew would not constitute a Material Adverse Effect (as defined in the Credit Agreement). Mortgagor, for itself, its successors and assigns, acknowledges that Mortgagee, its successors and assigns, shall have no obligation to perform the responsibilities of the lessee under any Lease, such responsibilities being those of Mortgagor. Upon reasonable request of the Mortgagee, Mortgagor shall use its best efforts to procure from each Landlord to any Lease a certificate stating that the Lease is in good standing. Mortgagor shall promptly notify Mortgagee of any default under the Lease or omit the occurrence of any event under any Lease, which with the passage of time or refrain from doing anything, in any case where any such act done service of notice or permitted to be done, or any such omission of or refraining from actionboth, would constitute an event of default, and of any oral or might be written claim or notice of default received from a ground for declaring a forfeiture of Landlord under any Lease; and in addition to any other rights contained herein Mortgagor shall permit the Facilities LeaseMortgagee, or would or might be a ground for cancellation or termination of its agents and employees to enter upon and inspect the Facilities premises subject to such Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title at all reasonable times and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any reasonable notice, communication or other document in any way relating to or affecting the Facilities Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Lease, will deliver the same, or a copy thereof, to the Trustee.

Leasehold Estate. The Authority will be, on the date of the delivery of the Bonds, the owner and lawfully possessed of the leasehold estate described in the Site LeaseLeases, and the Facilities Lease Facility Leases will be, on the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site LeaseLeases, the Site Lease Leases will be lawfully made by the County and the covenants contained in the Site Lease Leases on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities Facility Lease, and the Facilities Facility Lease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Facility Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Facility Lease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities Facility Lease, or would or might be a ground for cancellation or termination of the Facilities Facility Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement Indenture shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Facility Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities Facility Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Facility Lease, will deliver the same, or a copy thereof, to the Trustee.

Leasehold Estate. The Authority will be, on the date of the delivery of the BondsObligations, the owner and lawfully possessed of the leasehold estate described in the Site Lease, and the Facilities Lease Sublease will be, on the date of delivery of the BondsObligations, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, Obligations the County will be the owner in fee simple of the premises described in the Site Lease, and the Site Lease will be lawfully made by the County County, and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the BondsObligations, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities LeaseSublease, and the Facilities Lease Sublease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities LeaseSublease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease Sublease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities LeaseSublease, or would or might be a ground for cancellation or termination of the Facilities Lease Sublease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease Sublease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities LeaseSublease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities LeaseSublease, will deliver the same, or a copy thereof, to the Trustee.