Lessee Directions Sample Clauses
The "Lessee Directions" clause establishes the lessee's authority to provide instructions or directions regarding the use, maintenance, or operation of leased property. In practice, this clause may specify the types of directions the lessee can give, such as requesting repairs, dictating usage protocols, or setting access schedules for the premises. Its core function is to clarify the scope of the lessee's control over the leased asset, ensuring both parties understand the lessee's rights to direct certain activities and thereby reducing potential disputes over operational decisions.
Lessee Directions. The Lessor and the Lenders hereby agree that, so long as no Lease Default or Lease Event of Default exists, the Lessee shall have the exclusive right to exercise any right of the Lessor under the Loan Agreement upon not less than two (2) Business Days' prior written notice from the Lessee to the Lessor.
Lessee Directions. Notwithstanding anything to the contrary contained in the Operative Documents, the Lessor and the Participants agree that, so long as no Event of Default has occurred and is continuing which has caused the acceleration of the maturity of the Loans and the termination of the Commitments:
(a) Each of the Construction Agent and the Lessee shall have the right to give all Advance Requests and prepayment notices pursuant to the Loan Agreements (and the Lessee hereby agrees that the Construction Agent is hereby irrevocably authorized and directed on behalf of the Lessee to deliver such Advance Requests, and that the Participants shall not be liable to the Lessee for any claims arising out of the Participants' following the direction or request of the Construction Agent); and
(b) The Lessee shall have the right to replace an Investor or a Lender pursuant to Section 8.3.
Lessee Directions. Each of the Lessor, the Participation Agent, the Agent, the Lenders and the Lessee hereby agree that, so long as no Lease Default or Lease Event of Default exists:
(a) the Lessee shall have the exclusive right to exercise any other right of the Lessor under Section 2 of this Participation Agreement upon not less than three (3) Business Days' prior written notice from the
(b) the Lessee shall have the exclusive right to replace a Non-Consenting Lender pursuant to Section 2.
(c) without limiting the foregoing clauses (a) and (b) and in addition thereto, the Lessee shall have the exclusive right to exercise any other right of the Lessor under the Loan Agreement upon not less than two (2) Business Days' prior written notice from the Lessee to the Lessor, unless the Lessor objects to such exercise within two (2) Business Days of receipt of such notice.
Lessee Directions. 43 SECTION 12.1. Lessee Directions............................................................43
Lessee Directions. Each of the Participants and the Lessee hereby agree that:
(a) the Lessee shall have the right to replace any Participant (i) with respect to which, (A) the right to pay Interest or Yield by reference to the LIBO Rate shall be suspended under Section 15.1 or 15.2, or (B) there are or would be any claim to reimbursement or compensation under Section 15.3 or 15.5 or (ii) that fails to consent to any amendment, extension or waiver requested by Lessee, in each case with an Eligible Assignee selected by the Lessee and reasonably acceptable to the Collateral Agent and which Eligible Assignee shall comply with the terms of clause (vi) of Section 12.1(a) or clause (iv) of Section 12.1(b), as applicable;
(b) the Lessee shall have the exclusive right to exercise the right under Section 12.4(a) above upon not less than three (3) Business Days’ prior written notice from the Lessee to the Collateral Agent and each Participant; and
(c) the Collateral Agent and each Participant hereby agree to cooperate with the Lessee, at Lessee’s sole cost and expense in Lessee’s efforts to arrange one or more replacement Participants as contemplated by Section 12.4(a).
Lessee Directions. 86 SECTION 11.2. Recourse on Liability During Construction Period.................................. 87 SECTION 11.3.
Lessee Directions. Each of the Participants, Agent Lessor and Lessee hereby agree that, so long as no Default or Event of Default exists:
(a) Lessee shall have the exclusive right to replace a Defaulting Committed Participant pursuant to Section 10.2(b);
(b) Lessee shall have the right to replace any Participant with respect to which there are or would be any claim to reimbursement or compensation under Section 12.5;
(c) Whenever all or any portion of Basic Rent is calculated by reference to the LIBO Rate, Lessee shall have the right, by delivering a notice to the Administrative Agent on or before 12:00 noon (New York, New York time) on a Business Day, to elect irrevocably, on not less than three nor more than five Business Days' notice prior to the last day of any then current LIBO Rate Period, that all or any portion in an aggregate minimum amount of $5,000,000 and an integral multiple of $1,000,000 of the Certificate Amount of a Committed Participant be continued as Basic Rent determined by reference to the LIBO Rate (Reserve Adjusted) having a LIBO Rate Period (subject to the limitations set forth in the definition thereof) of the length set forth in such notice (in the absence of delivery of such notice at least three Business Days' before the last day of any then current LIBO Rate Period with respect thereto, the LIBO Rate Period shall be one month).
Lessee Directions. 36 ARTICLE XII TRANSFERS OF PARTICIPANTS' INTERESTS SECTION 12.1. Assignments...........................................................................37 SECTION 12.2. Participations........................................................................38 SECTION 12.3. Withholding Taxes; Disclosure of Information; Pledge Under Regulation A..............................................39 ARTICLE XIII INDEMNIFICATION
Lessee Directions. Notwithstanding anything to the contrary contained in the Operative Documents, Lessor and the Participants agree that, so long as no Event of Default has occurred and is continuing which has caused the acceleration of the maturity of the Loans and the termination of the Commitments:
(a) Lessee shall have the right to give all borrowing notices and prepayment notices pursuant to the Loan Agreement; and
(b) Lessee shall have the right to replace an Investor or a Liquidity Provider pursuant to Section 8.3 or a Liquidity Provider pursuant to the Liquidity Agreement.
Lessee Directions. The Note Holders, the Indenture Trustee, the Certificate Purchasers, the Lessee and the Owner Trustee hereby agree that, so long as no Default or Event of Default under the Lease exists, the Lessee shall have the exclusive right to approve any successor Indenture Trustee pursuant to Section 7.8 of the Indenture.