Common use of Nature of the Lease Clause in Contracts

Nature of the Lease. This Lease shall be construed and deemed to be a commercial lease, notwithstanding that parts of the Demised Premises are used for residential purposes and may be considered "Rental Units" (as this term is defined under the RTA). The Tenant itself will not occupy the Demised Premises as a residential tenant, although Persons may occupy portions of the Demised Premises as their residential premises (the "Residential Units"). The Landlord and the Tenant acknowledge that Landlord shall not b e c o n s i d e r e d t o b e a "landlord" as defined in the RTA i n r e l a t i o n to the Tenant's Licensees. The Landlord and the Tenant specifically acknowledge and agree that the relationship of the parties herein shall be governed by the provisions of the Commercial Tenancies Act, R.S.O. 1990, c.L.7

Appears in 6 contracts

Samples: Lease, Lease, Lease

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