Common use of Nature of Lease Clause in Contracts

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements. Tenant hereby waives to the full extent permitted by applicable law, all rights now or hereafter conferred by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933, to quit, terminate or surrender this Lease or the Premises or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereunder.

Appears in 50 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

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Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to TenantXxxxxx’s use or occupancy of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements. Tenant hereby waives to the full extent permitted by applicable law, all rights now or hereafter conferred by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933, to quit, terminate or surrender this Lease or the Premises or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereunder.

Appears in 5 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participant shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to Supplemental Rent) shall be paid without notice or demand and such obligation shall not be affected by any circumstance, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Except as expressly provided herein, each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, xxxxx, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersuch payment of Rent from the Lessor or from the Indenture Trustee for any reason.

Appears in 4 contracts

Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participant shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The Lessee's obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to notice of Supplemental Rent) shall be paid without notice or demand, and such obligation shall not be affected by any circumstance whatsoever, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, state of airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to suspend performance under, terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersuch payment xx Xxnt from the Lessor or from the Indenture Trustee for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to TenantOperator’s use or occupancy of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant Operator from its liability to pay all of the sums required by this Lease, or relieve Tenant Operator from any of its other obligations under this Lease, or give Tenant Operator the right to terminate this Lease in whole or in part. Tenant Operator waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant Operator hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant Operator or any constituent partner of Tenant Operator or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant Operator or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant Operator or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant Operator and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant Operator shall have notice or knowledge of any of the foregoing. The obligations of Tenant Operator hereunder shall be separate and independent covenants and agreements. Tenant Operator hereby waives to the full extent permitted by applicable law, all rights now or hereafter conferred by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933, to quit, terminate or surrender this Lease or the Premises or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereunder.

Appears in 1 contract

Samples: Airport Luggage Cart Lease and Operating Agreement

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participants shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to Supplemental Rent) shall be paid without notice or demand and such obligation shall not be affected by any circumstance, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, any Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or any Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or any Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Except as expressly provided herein, each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersuch payment ox Xxxt from the Lessor or from the Indenture Trustee for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to for Tenant’s use or occupancy of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to under this Lease by a trustee or receiver, or by any court, in any proceeding; (db) any claim that Tenant or any other person has or might have against City; (ec) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (fd) any failure on the part of any sublesseeany, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (ge) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (hf) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements. Except as otherwise provided for in this Lease, Tenant hereby waives to the full extent permitted by applicable law, all rights now or hereafter conferred by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933, to quit, terminate or surrender this Lease or the Premises or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent amounts due hereunder.

Appears in 1 contract

Samples: Lease Agreement

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participant shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to Supplemental Rent) shall be paid without notice or demand and such obligation shall not be affected by any circumstance, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Except as expressly provided herein, each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersxxx xayment of Rent from the Lessor or from the Indenture Trustee for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to TenantXxxxxx’s use or occupancy of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements. Tenant hereby waives to the full extent permitted by applicable law, all rights now or hereafter conferred by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933, to quit, terminate or surrender this Lease or the Premises or any part thereof, or to any abatement, suspension, deferment, diminution diminution, or reduction of any rent hereunder.

Appears in 1 contract

Samples: Lease Agreement

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participant shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to Supplemental Rent) shall be paid without notice or demand and such obligation shall not be affected by any circumstance, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to suspend performance under, terminate, cancel, quit, terminate rescind or surrender this Lease or Lease, the Premises Airframe, or any Engine or part thereof, other than in accordance with the terms hereof. (c) Each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or to any abatement, suspension, deferment, diminution or reduction reduce all xx xny part of any rent hereundersuch payment of Rent from the Lessor or from the Indenture Trustee for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

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Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premisesparties hereto that the obligations of the Lessee to pay all costs and expenses of every character in connection with the use, except as may be otherwise expressly operation, maintenance and repair of the Airframe and each Engine by the Lessee, including, without limitation, the costs and expenses particularly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Termshall be absolute and unconditional, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The Lessee's obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to notice of Supplemental Rent) shall be paid without notice or demand, and such obligation shall not be affected by any circumstance whatsoever, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Except as expressly provided herein, each payment of Rent made by the Lessee shall be final as to the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersuch payment xx Xxnt for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s Tenant‟s use or occupancy of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements. Tenant hereby waives to the full extent permitted by applicable law, all rights now or hereafter conferred by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933, to quit, terminate or surrender this Lease or the Premises or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereunder.

Appears in 1 contract

Samples: Lease Agreement

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participant shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to Supplemental Rent) shall be paid without notice or demand and such obligation shall not be affected by any circumstance, including, without limitation: (i) any set-off (except to the full extent set forth in Section 3.05 hereof), counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to suspend performance under, terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersuch paymxxx xf Rent from the Lessor or from the Indenture Trustee for any reason, except the Lessee has the right to the extent provided in Section 3.05 hereof to offset a portion of payments due from the Lessee to the Lessor pursuant thereto.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premises, except as may be otherwise expressly set forth herein. Except as may be specifically parties hereto that the obligations of the Lessee to pay all costs and expressly provided otherwise in this Lease, no occurrence or situation arising during the Term, nor any present or future Lawexpenses of every character, whether foreseen seen or unforeseen, shall relieve Tenant from its liability to pay all ordinary or extraordinary, or structural or nonstructural, in connection with the use, operation, maintenance, repair and reconstruction of the sums required Airframe and each Engine by this Leasethe Lessee, or relieve Tenant from any of its other obligations under this Leaseincluding, or give Tenant without limitation, the right to terminate costs and expenses particularly set forth in this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement(unless expressly excluded from the terms hereof, diminution, reduction, or suspension the costs and expenses of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, the Lessor and the obligations Owner Participant shall include the reasonable fees and expenses of Tenant hereunder their respective outside counsel), shall not be releasedabsolute and unconditional, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to Supplemental Rent) shall be paid without notice or demand and such obligation shall not be affected by any circumstance, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to suspend performance under, terminate, cancel, quit, terminate rescind or surrender this Lease Lease, the Airframe, or any Engine or part thereof, other than in accordance with the Premises terms hereof. (c) Each payment of Rent made by the Lessee shall be final as to the Lessor and the Lessee, and the Lessee will not seek to return nor to recover, axxxx, suspend, defer or reduce all or any part thereof, or to any abatement, suspension, deferment, diminution or reduction of any rent hereundersuch payment of Rent from the Lessor or from the Indenture Trustee for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

Nature of Lease. Under no circumstances will City be expected or required to make any payment of any kind with respect to Tenant’s use or occupancy (a) This Lease is a net lease, it being the intention of the Premisesparties hereto that the obligations of the Lessee to pay all costs and expenses of every character in connection with the use, except as may be otherwise expressly operation, maintenance and repair of the Airframe and each Engine by the Lessee, including, without limitation, the costs and expenses particularly set forth herein. Except as may be specifically and expressly provided otherwise in this Lease, no occurrence or situation arising during the Termshall be absolute and unconditional, nor any present or future Law, whether foreseen or unforeseen, shall relieve Tenant from its liability to pay all of the sums required by this Lease, or relieve Tenant from any of its other obligations under this Lease, or give Tenant the right to terminate this Lease in whole or in part. Tenant waives any rights now or hereafter conferred upon it by any existing or future Law to terminate this Lease or to receive any abatement, diminution, reduction, or suspension of payment of such sums, on account of such occurrence or situation. Except as otherwise expressly provided herein, this Lease shall continue in full force and effect, and the obligations of Tenant hereunder shall not be released, discharged or otherwise affected, by reason of: (a) any damage to or destruction of the Premises or any portion thereof or any improvements thereon, or any taking thereof in eminent domain; (b) any restriction or prevention of or interference with any use of the Premises or the improvements or any part thereof; (c) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other proceeding relating to City, Tenant or any constituent partner of Tenant or any sublessee, licensee or concessionaire or any action taken with respect to this Lease by a trustee or receiver, or by any court, in any proceeding; (d) any claim that Tenant or any other person has or might have against City; (e) any failure on the part of City to perform or comply with any of the terms hereof or of any other agreement with Tenant or any other person; (f) any failure on the part of any sublessee, licensee, concessionaire, or other person to perform or comply with any of the terms of any sublease or other agreement between Tenant and any such person; (g) any termination of any sublease, license or concession, whether voluntary or by operation of law; or (h) any other occurrence whatsoever, whether similar or dissimilar to the foregoing in each case whether or not Tenant shall have notice or knowledge of any of the foregoing. The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and shall continue unaffected unless and until the covenants have been terminated pursuant to an express provision of this Lease. Tenant hereby waives The Lessee's obligation to pay Rent and all amounts payable by the Lessee under this Lease or the Participation Agreement shall be absolute and unconditional and (except as otherwise expressly provided with respect to notice of Supplemental Rent) shall be paid without notice or demand, and such obligation shall not be affected by any circumstance whatsoever, including, without limitation: (i) any set-off, counterclaim, recoupment, defense or other right which the Lessee may have against the Lessor, the Owner Participant, any Holder, the Indenture Trustee or anyone else for any reason (including, without limitation, any breach by the Lessor or the Owner Participant or the Indenture Trustee or any Holder of their respective representations, warranties, agreements or covenants contained in any of the Operative Agreements); (ii) any defect in the title, airworthiness, registration, eligibility for registration under the Transportation Code (and the regulations thereunder) or under any of the laws or regulations of any other country of registry of the Aircraft, condition, design, operation, merchantability or fitness for use of, suitability for a particular purpose of, or any damage to or loss or destruction of, the Aircraft or any portion thereof, or any interruption or cessation in the use or possession of the Aircraft by the Lessee or any sublessee for any reason including, without limitation, by reason of governmental action or any doctrine of force majeure or impossibility of performance; (iii) any insolvency, bankruptcy, reorganization or similar case or proceedings by or against the Lessor, the Lessee, the Indenture Trustee or the Owner Participant or any other Person; (iv) any Liens, encumbrances or rights of any other Person with respect to the full Aircraft, the invalidity or unenforceability or lack of due authorization or other infirmity of this Lease or any other Operative Agreement or document or instrument executed pursuant hereto or thereto, or any lack of right, power or authority of the Lessor or the Lessee or any sublessee or any other party to any other Operative Agreement to enter into this Lease or any other Operative Agreement or any such document or instrument; or (v) any other circumstance, happening or event whatsoever, whether or not unforeseen, or similar to any of the foregoing. (b) To the extent permitted by applicable law, the Lessee waives any and all rights which it may now have or hereafter which at any time it may have conferred upon it, by statute, including without limitation the provisions of Civil Code Sections 1932 and 1933statute or otherwise, to terminate, cancel, quit, terminate rescind or surrender this Lease or Lease, the Premises Airframe, or any Engine or part thereof, other than in accordance with the terms hereof. (c) Except as expressly provided herein, each payment of Rent made by the Lessee shall be final as to the Lessee, and the Lessee will not seek to return nor to recover, abate, suspend, defer or to any abatement, suspension, deferment, diminution or reduction reduce all xx xny part of any rent hereundersuch payment of Rent for any reason.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

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