LEASEHOLD PROVISIONS Sample Clauses
The Leasehold Provisions clause defines the specific terms and conditions that apply to a tenant's rights and obligations under a lease agreement. It typically outlines aspects such as the permitted use of the leased premises, maintenance responsibilities, rent payment schedules, and restrictions on alterations or subletting. By clearly delineating these rules, the clause ensures both parties understand their respective duties and helps prevent disputes over the use and management of the leased property.
LEASEHOLD PROVISIONS. If the interest of the Borrower in all or any part of the Lands derives from a Lease or Leases, then the following additional provisions apply with respect to such interest and to each Lease:
(a) (b)
(i) The Borrower hereby grants, mortgages, demises, subleases and charges to the Lender all estate, term, right, title and interest of the Borrower in and to the Lease and the Lands together with any and all other, further or additional estate, term, right, title and interest therein or any part thereof acquired by the Borrower and all benefit and advantage therefrom including any right or option to purchase or to lease, to have and to hold for and during the remainder of the term of the Lease, save and except the last day thereof (the “Reversion”), as security for the payment to the Lender of the Principal Amount, interest thereon and all other monies owing under this Mortgage and the performance of all covenants, agreements and obligations secured by this Mortgage upon the terms set out in this Mortgage. If the Lease requires the consent of the lessor under the Lease to the mortgage; demise, sublease and charge created by this Mortgage, such mortgage, demise, sublease and charge shall not become effective until, but shall become effective immediately when, all consents necessary for the validity and effectiveness of this Mortgage have been obtained or have become unnecessary, and the Borrower shall immediately obtain and provide to the Lender all such consents. The Borrower represents and warrants to the Lender as follows: the Borrower has good leasehold title to the Lands free and clear of any liens, charges and other encumbrances except those specifically approved in writing by the Lender;
(ii) the Lease is, at the time of execution and delivery of this Mortgage, a good, valid and subsisting Lease and has not been surrendered or forfeited or become void or voidable and the Borrower has not done or failed to do any act as a result of which the Lease would be rendered invalid or its validity impaired;
(iii) there have been no modifications to the Lease that have not been provided to the Lender;
(iv) the Leasehold Rents, covenants and conditions contained in the Lease have been duly paid, observed and performed by the Borrower up to the date of this Mortgage;
(v) the Borrower has a good right, full power and lawful and absolute authority to mortgage, demise, sublease and charge the Lease to the
LEASEHOLD PROVISIONS. 8.1. Trustor will pay or cause to be paid all rent and other charges required under the Retail Lease and the Lobby Lease as and when the same are due and Trustor will keep, observe and perform, or cause to be kept, observed and performed, all of the other terms, covenants, provisions and agreements of the Retail Lease and the Lobby Lease on the part of the lessee thereunder to be kept, observed and performed, and will not in any manner, cancel, terminate or surrender, or permit any cancellation, termination or surrender of the Retail Lease or the Lobby Lease, in whole or in part, or, without the written consent of Lender, either orally or in writing, modify, amend or permit any modification or amendment of any of the terms thereof in any respect, and any attempt on the part of Trustor to exercise any such right without such written consent of Lender shall be null and void and of no effect.
8.2. Trustor will do, or cause to be done, all things necessary to preserve and keep unimpaired the rights of Trustor as lessee under the Retail Lease and the Lobby Lease, and to prevent any default under the Retail Lease or the Lobby Lease, or any termination, surrender, cancellation, forfeiture or impairment thereof, and in the event of the failure of Trustor to make any payment required to be made by Trustor pursuant to the provisions of the Retail Lease and the Lobby Lease or to keep, observe or perform, or cause to be kept, observed or performed, any of the terms, covenants, provisions or agreements of the Retail Lease or the Lobby Lease, Trustor agrees that Lender may (but shall not be obligated to), after notice to Trustor (provided, however, that no such notice shall be required to be given after the occurrence of an Event of Default hereunder or under any of the other Loan Documents) take any action on behalf of Trustor, to make or cause to be kept, observed or performed any such terms, covenants, provisions or agreements and to enter upon the Premises and take all such action thereof as may be necessary therefor, to the end that the rights of Trustor in and to the leasehold estates created by the Retail Lease and the Lobby Lease shall be kept unimpaired and free from default, and all money so expended by Lender, with interest thereon at the Default Rate (as defined in the Loan Agreement) from the date of each such expenditure, shall be paid by Trustor to Lender promptly upon demand by Lender and shall be added to the indebtedness and secured by the Deed of Trus...
LEASEHOLD PROVISIONS. Section 5.1 Deed of Trust Subject to Ground Leases......................22 Section 5.2
LEASEHOLD PROVISIONS. Section 5.1 Deed of Trust Subject to Ground Leases. This Deed of Trust is made subject to whatever rights and interest the Lessor(s) may have under each lease defined herein as one of the Ground Leases and the covenants, conditions and restrictions set forth therein. This Deed of Trust shall not be construed so as to constitute a default under any Ground Leases pursuant to Applicable Law or the terms of such Ground Leases, and this Deed of Trust and the lien created hereby shall be of no further force and effect if deemed by a court of competent jurisdiction to violate the terms of such Ground Leases or Applicable Law.
LEASEHOLD PROVISIONS. With respect to the Subject Lease and matters related thereto, Mortgagor acknowledges and agrees to the provisions of Schedule C attached hereto, made a part hereof and incorporated herein by reference.
LEASEHOLD PROVISIONS. 24 -------------------- Section 9.17. Gaming Authorities.................................................................................27 ------------------ Section 9.18. Indenture..........................................................................................27 --------- Section 9.19.
LEASEHOLD PROVISIONS