Memorandums of Lease. Lessor and Tenant shall, promptly upon the request of either, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Memorandums of Lease shall not reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) to purchase under Section 16.12 of this Lease have ceased to be available to and exercisable by Tenant for any reason (e.g. due to Tenant’s exercise of all of its available options to purchase under Section 16.12 or on account of this Lease being involved in a Section 40.18 lease combination transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation of Lessor’s obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).
Appears in 10 contracts
Samples: Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Ventas Inc)
Memorandums of Lease. Lessor and Tenant shall, promptly upon the request of eithereither made on or following the Effective Date, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Such Memorandums of Lease shall not also reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, Property covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) option to purchase under Section 16.12 of this Lease have has ceased to be available to and exercisable by Tenant for any reason (e.g. due to Tenant’s exercise of all of its available options option to purchase under Section 16.12 or on account of this Lease being involved in a Section 40.18 lease combination transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation of Lessor’s obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).
Appears in 2 contracts
Samples: Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc)
Memorandums of Lease. Lessor and Tenant shall, promptly upon -------------------- the request of either, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Memorandums of Lease shall not reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased ------------- Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) to purchase under Section 16.12 of this Lease have ceased to be ------------- available to and exercisable by Tenant for any reason (e.g. due to Tenant’s 's exercise of all of its available options to purchase under Section 16.12 or on ------------- account of this Lease being involved in a Section 40.18 lease combination ------------- transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of ------------- Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation of Lessor’s 's obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs ---------------- ------------------ and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).. [The remainder of this page is intentionally left blank] 135
Appears in 1 contract
Memorandums of Lease. Lessor and Tenant shall, promptly upon -------------------- the request of either, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Memorandums of Lease shall not reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased ------------- Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) to purchase under Section 16.12 of this Lease have ceased to be ------------- available to and exercisable by Tenant for any reason (e.g. due to Tenant’s 's exercise of all of its available options to purchase under Section 16.12 or on ------------- account of this Lease being involved in a Section 40.18 lease combination ------------- transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of ------------- Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation of Lessor’s 's obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs ---------------- ------------------ and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).. [The remainder of this page is intentionally left blank]
Appears in 1 contract
Memorandums of Lease. Lessor and Tenant shall, promptly -------------------- upon the request of either, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Memorandums of Lease shall not reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased ------------- Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) to purchase under Section 16.12 of this Lease have ceased to be ------------- available to and exercisable by Tenant for any reason (e.g. due to Tenant’s 's exercise of all of its available options to purchase under Section 16.12 or on ------------- account of this Lease being involved in a Section 40.18 lease combination ------------- transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of ------------- Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation 136 of Lessor’s 's obligations under and except as otherwise provided in Section ------- 40.15(f) and Section 40.18(vii), Tenant shall pay all costs and expenses of -------- ------------------ recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).. [The remainder of this page is intentionally left blank]
Appears in 1 contract
Memorandums of Lease. Lessor and Tenant shall, promptly upon the request of either, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Memorandums of Lease shall not reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) to purchase under Section 16.12 of this Lease have ceased to be available to and exercisable by Tenant for any reason (e.g. due to Tenant’s 's exercise of all of its available options to purchase under Section 16.12 or on account of this Lease being involved in a Section 40.18 lease combination transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation 136 of Lessor’s 's obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).. [The remainder of this page is intentionally left blank]
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)
Memorandums of Lease. On the Effective Date, Lessor and Tenant shall, promptly upon the request of either, shall enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Such Memorandums of Lease shall not also reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, Property covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. ThereafterAfter the Effective Date, when and if any such option(s) option to purchase under Section 16.12 of this Lease have has ceased to be available to and exercisable by Tenant for any reason (e.g. due to Tenant’s exercise of all of its available options option to purchase under Section 16.12 or on account of this Lease being involved in a Section 40.18 lease combination transaction where the resulting Section 40.18 Lease covers in excess of forty (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation of Lessor’s obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).
Appears in 1 contract
Memorandums of Lease. Lessor and Tenant shall, promptly upon -------------------- the request of either, enter into short form memorandums of this Lease, in form suitable for recording under the laws of the State in which each Leased Property is located, in which reference to this Lease, and all extension options contained herein, shall be made. Relative to the foregoing and notwithstanding anything to the contrary contained in this Lease, any such Memorandums of Lease shall not reference the existence of any option to purchase in favor of Tenant under Section 16.12 of this Lease unless and until the number of Leased ------------- Properties covered by this Lease equals forty (40) or less, at which time, upon the request of Tenant, any existing Memorandums of Lease shall be amended by Lessor and Tenant, or new Memorandums of Lease shall be entered into by Lessor and Tenant (for example in the circumstance where this Lease (a) constitutes a New Lease as to which no previous Memorandums of Lease have been entered into and (b) covers forty (40) or less Leased Properties), referencing that, in limited circumstances following the occurrence of certain limited types of Events of Default by Tenant, Tenant may have an option to purchase in certain circumstances one (1) Leased Property, and in other circumstances two (2) Leased Properties, covered by this Lease as to which the aforesaid types of Events of Default have occurred and are continuing. Thereafter, when and if any such option(s) to purchase under Section 16.12 of this Lease have ceased to be ------------- available to and exercisable by Tenant for any reason (e.g. due to Tenant’s 's exercise of all of its available options to purchase under Section 16.12 or on ------------- account of this Lease being involved in a Section 40.18 lease combination transaction where the resulting Section 40.18 Lease covers in excess of forty ------------- (40) Leased Properties or otherwise provides to Tenant no available and exercisable option(s) to purchase under Section 16.12), upon the request of ------------- Lessor, any existing Memorandum(s) of Lease that reference any option to purchase in favor of Tenant shall be amended to delete any such reference. Without limitation of Lessor’s 's obligations under and except as otherwise provided in Section 40.15(f) and Section 40.18(vii), Tenant shall pay all costs ---------------- ------------------ and expenses of recording any such Memorandums of Lease or amendments thereto and for releasing any such Memorandums of Lease that relate to a particular Leased Property(ies) upon any expiration or termination of this Lease as it relates to any such Leased Property(ies).. [The remainder of this page is intentionally left blank] 135
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)