Leasehold Properties Sample Clauses
The 'Leasehold Properties' clause defines how properties held under a lease, rather than owned outright, are treated within the context of the agreement. It typically outlines the rights and obligations of the parties regarding the use, maintenance, and transfer of leasehold interests, and may specify requirements such as obtaining landlord consent or complying with lease terms. This clause ensures that all parties are aware of the unique considerations and limitations associated with leasehold properties, thereby preventing misunderstandings and clarifying responsibilities related to non-freehold assets.
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Leasehold Properties. (i) Section 3.13(b) of the Sellers’ Disclosure Schedule sets forth a list of all Properties that are leased or otherwise occupied by the Company or any of its Subsidiaries other than any freehold properties (referred to in this Section 3.13 as (“Leased Properties”), identifying the date of the agreement by which such Properties are occupied (each a “Property Lease”), the location, parties, base rent, term and any options to extend relating thereto, together with such details applicable to any superior titles. The Company and its Subsidiaries have paid their respective rents in full and up to date and has observed and performed the covenants on the part of the lessee and the conditions contained in any leases (which expression includes underleases) under which the Leased Properties are held and the last demands for rent (or receipts if issued) were unqualified and all such leases are valid and in full force in accordance with their respective terms.
(ii) All licenses, consents and approvals required from the lessors and any superior lessors under the Property Leases and from their respective mortgagees (if any) have been obtained and the covenants on the part of the lessee contained in such licenses, consents and approvals have been duly performed and observed.
(iii) There are no notices, negotiations or proceedings pending in relation to rent reviews nor is any rent liable at the date hereof to be reviewed and time is not of the essence in respect of any steps to be taken in the conduct of rent reviews.
(iv) There is no obligation to reinstate any of the Leased Properties by removing or dismantling any alteration made to the same by the Company, any of its Subsidiaries or any predecessor in title to the Company.
(v) There is no outstanding, unobserved or unperformed obligation necessary to comply with any notice or other requirement given by the lessor under any Property Leases.
(vi) There are no circumstances which would entitle any such lessor to exercise any powers of entry or take possession or which would otherwise restrict the continued possession and enjoyment of the Leased Properties. To the Knowledge of the Sellers, there are no indications that any creditor of the lessor of the business premises of the Company’s German Subsidiary in Nürnberg, Germany, intends to enforce its rights against such lessor by selling such business premises (or parts thereof) in a public auction.
(vii) There are no laws, statutes, regulations or orders now in existence ...
Leasehold Properties. 8.1 The Company and/or Loryt has paid the rent and observed and performed the covenants on the part of the tenant and the conditions contained in the lease under which the Properties are held, and the last demand for rent (or receipt, if issued) was unqualified, and the lease is in full force, except as disclosed in the Disclosure Letter.
8.2 The licences, consents and approvals required from the landlords and any superior landlords under the leases of the Properties have been obtained, and the covenants on the part of the tenant contained in the licences, consents and approvals have been duly performed, except as disclosed in the Disclosure Letter.
8.3 There are lease renewals and rent reviews in progress under the leases of the Properties held by the Company or Loryt, in particular under the office lease at 7 Ch▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇.
▇.4 No obligation necessary to comply with a notice given by or other requirement of the landlord under a lease of the Properties is outstanding and unperformed.
8.5 There are no obligations for repair are on an internal repairing basis, with the exception of the office lease at 7 Ch▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇d there is no obligation to reinstate any of the Properties by removing or dismantling an alteration made to it by the Company, Loryt or a predecessor in title.
8.6 The Company or Loryt has not entered into an guarantee agreement in respect of the properties.
8.7 There are no proceedings against the Company and/or Loryt, or brought by it nor is the Company or Loryt aware of any identifiable circumstances in which proceedings against it by its landlord or by its tenants or by it against its landlord or its tenants may be brought or threatened, except as disclosed in the Disclosure Letter.
8.8 There are no employees of the Company and/or Loryt who are required to work full time or substantially full time at the Properties.
8.9 There are no rent deposits or other monies lodged with the landlords or their agents in respect of any of the Properties, except as per the schedule in the Completion Accounts.
Leasehold Properties. Where the interest of the Group Companies in any Property is leasehold, the requisite details have been completed in Part 1 of Schedule 3 and, so far as the Seller is aware:
(i) no Group Company has received any subsisting notice alleging a material breach on the part of the tenant of any covenants, conditions and agreements contained in the relevant leases; and
(ii) the rent has been paid up to date.
Leasehold Properties. The Company or the Subsidiaries has not leased real property of any kind.
Leasehold Properties. In relation to those Properties which are leasehold:
Leasehold Properties. 5.1 Each of the Properties is held under the leases details of which are set out in schedule 8 and no licence or supplementary agreements or concessions have been entered into or granted in respect of those leases.
5.2 The Company is not engaged in any negotiation for review of the rent payable under any lease under which it holds any of the Properties and no negotiations for such review have been concluded changing the rent from that set out in schedule 8 or in the Disclosure Letter.
5.3 So far as the Sellers are aware, the landlord of each of the Properties has complied with the obligations and covenants of the landlord in each of the leases details of which are set out in schedule 8.
Leasehold Properties. Each of the Properties which is leasehold is held under the lease brief details of which are set out in schedule 6 and no licences or collateral arrangements or concessions have been entered into or granted, each such lease being a head lease and containing no rights of determination on the part of the landlord, and there are no rent reviews which are or will at the date of Completion be in the course of being determined.
Leasehold Properties. 44. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ [ 1 ].
Leasehold Properties. Description of Properties Date of Lease Parties Current use
Leasehold Properties. 19.15.1 There are no material breaches of any lease under which any of the Properties are held and no notices of a material nature have been served by the landlord or the tenant.
19.15.2 There are no arrears of rent, no unusual or onerous provisions, no collateral agreements and any consents required under the leases of the Properties have been obtained.