Common use of NET LEASE; TRUE LEASE Clause in Contracts

NET LEASE; TRUE LEASE. (a) The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and the obligations of Tenant hereunder shall continue during the Term, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 of this Part II or if agreed by Tenant and Landlord upon full repayment of the Loan. This is an absolute net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes and insurance costs. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) or Section 14 of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Term. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court.

Appears in 1 contract

Samples: Lease (Orchard Supply Hardware Stores Corp)

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NET LEASE; TRUE LEASE. (a) The It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed that Basic Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue during the Termunaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 an express provision of this Part II or if agreed by Tenant and Landlord upon full repayment of the LoanLease. This is an absolute a net lease Lease and Fixed Basic Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes and insurance costsspecifically set forth herein. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease Lease, during the Term (except as otherwise expressly provided in Section 13(dherein). Tenant agrees that, except as otherwise expressly provided herein, it shall not take any action to terminate, rescind or avoid this Lease notwithstanding (i) the bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding-up or Section 14 other proceeding affecting Landlord, (ii) the exercise of any remedy, including foreclosure, under the Mortgage, (iii) any action with respect to this Part II Lease (including, the disaffirmance hereof) which may be taken by Landlord under the Federal Bankruptcy Code or if agreed to by Tenant and any trustee, receiver or liquidator of Landlord upon full repayment or by any court under the Federal Bankruptcy Code or otherwise, (iv) the Taking of the LoanLeased Premises or any portion thereof (except as specifically provided in Paragraph 12(b) below), (v) the prohibition or restriction of Tenant’s use of the Leased Premises under any Legal Requirement or otherwise, (vi) the destruction of the Leased Premises or any portion thereof, (vii) the eviction of Tenant from possession of the Leased Premises, by paramount title or otherwise, or (viii) default by Landlord under any other agreement between Landlord and Tenant. Tenant waives all rights which are not expressly stated herein, but which may now or hereafter otherwise be conferred by law to quit, terminate or surrender this Lease or any of the Leased Premises; to any setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense of or to xxxxx Fixed Basic Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Termunder this Lease, and for any statutory lien or offset right against Landlord or its property, each except as otherwise expressly provided herein. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated pay directly to the proper authorities charged with the collection thereof all charges for water, sewer, gas, oil, electricity, telephone and other utilities or services used or consumed on the Leased Premises during the Term, whether designated as a charge, tax, assessment, fee or otherwise, including, without limitation, water and sewer use charges and taxes, if any, all such charges to be paid as the same from time to time become due. It is understood and agreed that Tenant shall make its own arrangements for the installation or provision of all such utilities and that Landlord shall be under this Lease in accordance with its terms no obligation to furnish any utilities to the Leased Premises and shall not take be liable for any action interruption or failure in the supply of any such utilities to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any courtthe Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (Capital Automotive Reit)

NET LEASE; TRUE LEASE. (a) The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and the obligations of Tenant hereunder shall continue during the Term, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 of this Part II or if agreed by Tenant and Landlord upon full repayment of the LoanII. This is an absolute absolutely net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) stated herein. All costs, expenses and obligations of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of every kind and nature whatsoever relating to the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by TenantTenant except as otherwise expressly provided herein. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes taxes and insurance costs. This Tenant shall have no right to xxxxx Fixed Rent or Additional Rent during the Term, and, except as otherwise expressly stated herein, this Lease shall not terminate and Tenant shall not have any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) or Section 14 of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease TermLease. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court.

Appears in 1 contract

Samples: Lease (American Realty Capital Trust, Inc.)

NET LEASE; TRUE LEASE. (a) The It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed Rentthat Minimum Annual Rental, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue during the Termunaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 an express provision of this Part II or if agreed by Tenant and Landlord upon full repayment of the LoanLease. This is an absolute a net lease Lease and Fixed RentMinimum Annual Rental, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenantspecifically set forth herein. Tenant shall pay all operating expenses related to the maintenance and repair use, occupancy, management, maintenance, repair, operation or possession of the Premises, and Taxes to the extent required hereunder, taxes and insurance costs. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease, during the Lease Term (except as otherwise expressly provided in Section 13(dherein). (i) the bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding-up, or Section 14 other proceeding affecting Landlord, Tenant or any assignee or subtenant of Tenant, (ii) the exercise of any remedy, including foreclosure, under the mortgage, or (iii) any action with respect to this Part II Lease (including the disaffirmance hereof) which may be taken by Landlord under the Federal Bankruptcy Code or if agreed to by Tenant and any trustee, receiver or liquidator of Landlord upon full repayment or by any court under the Federal Bankruptcy Code or otherwise, or (iv) the condition of the LoanPremises (except to the extent Tenant's action as it relates to this clause (iv) is being taken as a result of actions of Landlord). Tenant waives all rights which are not expressly stated herein but which may now or hereafter otherwise be conferred by law to quit, terminate or surrender this Lease or any of the Premises, to any setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense of or to xxxxx Fixed RentMinimum Annual Rental, Additional Rent or any other sums payable by Tenant hereunder during the Lease Term. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding except as otherwise expressly provided herein; and for any bankruptcy, insolvency, reorganization, liquidation, dissolution statutory lien or other proceeding affecting offset right against Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any courtits property.

Appears in 1 contract

Samples: Lease Agreement (Cinemastar Luxury Theaters Inc)

NET LEASE; TRUE LEASE. (a) The obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and the obligations of Tenant hereunder shall continue during the Term, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 of this Part II or if agreed by Tenant and Landlord upon full repayment of the Loan16. · This is an absolute absolutely net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s 's use of any of the Premises or the Access Areas for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises or the Access Areas by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II)whatsoever, (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II16), (iii) the prohibition, limitation or restriction of Tenant’s 's use of any of the PremisesPremises or the Access Areas, (iv) any eviction or constructive eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (viivi) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ixvii) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof (except for any such costs, expenses or obligations incurred or contracted for by Landlord without Tenant's prior consent; provided that such exclusion does not apply to any costs, expenses or obligations incurred or contracted for by Landlord in connection with exercising its rights and/or remedies under this Lease, which shall be paid and performed by Tenant notwithstanding Tenant's lack of consent) which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes and insurance costs. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) or Section 14 of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan16), or to xxxxx Fixed Rent, Rent or Additional Rent or any other sums payable by Tenant hereunder during the Lease Term. Nothing contained in this Section 8 shall reduce or modify in any way Section 36 or Tenant's rights in respect of a breach of Landlord's warranty therein. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court.

Appears in 1 contract

Samples: Lease Agreement (Kingsway Financial Services Inc)

NET LEASE; TRUE LEASE. (a) The It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed that Basic Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue during the Termunaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 an express provision of this Part II or if agreed by Tenant and Landlord upon full repayment of the LoanLease. This is an absolute a triple net lease and Fixed Basic Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, deferment. diminution, deduction reduction or defense, unless otherwise specifically set forth herein. Landlord shall not be required to expend any funds in connection with the Leased Premises. This Lease is the absolute shall not in any event terminate and unconditional obligation of Tenant, and the obligations of Tenant under shall not have any right to terminate this Lease shall not be affected by any interference with Tenant’s use of any of during the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever Term (except as otherwise expressly provided in Section 13(d) of this Part IIherein). Tenant agrees that, (ii) any Condemnation (except as otherwise expressly provided in Section 14 herein, it shall not have any right to nor shall it take any action to terminate, rescind or avoid this Lease notwithstanding (i) the bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding-up or other proceeding affecting Landlord, (ii) the exercise of this Part II)any remedy, including foreclosure, under the Mortgage, (iii) any action with respect to this Lease (including the prohibitiondisaffirmance hereof) which may be taken by Landlord under the Federal Bankruptcy Code or by any trustee, limitation receiver or liquidator of Landlord or by any court under the Federal Bankruptcy Code or otherwise, (iv) the Taking of the Leased Premises or any portion thereof, (v) the prohibition or restriction of Tenant’s 's use of the Leased Premises under any Legal Requirement or otherwise, (vi) the destruction of the PremisesLeased Premises or any portion thereof, (ivvii) any the eviction of Tenant from possession of the Leased Premises by paramount title or otherwise, (vviii) Tenant’s 's acquisition of ownership of any of fee title to the Premises other than pursuant to an express provision of this LeaseLeased Premises, (viix) any default on the part of by Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by agreement between Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), and Tenant or (ixx) for any other cause, whether cause similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs , it being the intention of the parties that Basic Rent, Additional Rent and expenses (all other than depreciation, interest charges and amounts payable to or on behalf of Landlord shall continue to be payable in all events and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating Tenant shall continue unaffected, unless the requirement to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise pay or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not perform the same shall become payable during the Term be abated or thereafter) shall be paid and performed by Tenantterminated pursuant to an express provision of this Lease. Tenant shall pay waives all expenses related rights which are not expressly stated herein but which may now or hereafter otherwise be conferred by law (x) to the maintenance and repair quit, terminate or surrender this Lease or any of the Leased Premises, and Taxes and insurance costs. This Lease shall not terminate and Tenant shall not have (y) to any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or Section 14 defense of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Basic Rent, Additional Rent or any other sums charges or amounts payable by Tenant hereunder during the Lease Termunder this Lease, and (z) for any statutory lien or offset right against Landlord or its property. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated pay directly to the proper authorities charged with the collection thereof all charges for water, sewer, gas, oil, electricity, telephone and other utilities or services used or consumed on the Leased Premises during the Term, whether designated as a charge, tax, assessment, fee or otherwise, including, without limitation, water and sewer use charges and taxes, if any, all such charges to be paid as the same from time to time become due. It is understood and agreed that Tenant shall make its own arrangements for the installation or provision of all such utilities and that Landlord shall be under this Lease in accordance with its terms no obligation to furnish any utilities to the Leased Premises and shall not take be liable for any action interruption or failure in the supply of any such utilities to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any courtthe Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (One Price Clothing Stores Inc)

NET LEASE; TRUE LEASE. (a) The obligations of Tenant hereunder This Lease is intended to be and shall be separate deemed and independent covenants construed to be an absolutely “net lease” and agreementsTenant shall pay to Landlord, and absolutely net throughout the Term, the Fixed Annual Rent, Additional Rent free of any charges, assessments, impositions or deductions of any kind and without abatement, deduction or set-off whatsoever. Under no circumstances or conditions, whether now existing or hereafter arising, or whether beyond the present contemplation of the parties, shall Landlord be required to make any payment of any kind or be under any other obligation whatsoever with respect to the Premises. Tenant shall pay all other sums payable costs, expenses and charges of every kind and nature relating to the Premises during the Term (except for expenses related to any indebtedness of Landlord and income taxes of Landlord excluded from additional rent in Section 4(a) above), whether such amounts are ordinary or extraordinary and irrespective as to whether such amounts could have been reasonably anticipated by Tenant hereunder shall continue to be payable the parties. Except as otherwise provided in all eventsthis Lease, and the obligations of Tenant hereunder shall continue during the Term, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 of this Part II or if agreed by Tenant and Landlord upon full repayment of the Loan. This is an absolute net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use reason of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of the Premises or any part thereof, any taking of the Premises or any part thereof by condemnation or otherwise, any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation restriction or restriction prevention of Tenant’s use of the Premises or for any reason, any interruption or failure of utilities servicing the Premises, (iv) any matter affecting title to the Premises, any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, cause whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs foregoing and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance have notice or knowledge thereof and repair of the Premises, and Taxes and insurance costs. This Lease whether or not such cause shall not terminate and Tenant shall not have any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) or Section 14 of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Termnow be foreseeable. (b) Landlord and Tenant agree that intend this Lease is intended as to be a true lease lease, and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under business relationship created by this Lease and any related documents is solely that of a long-term commercial lease between Landlord and Tenant and has been entered into by both parties in accordance with its terms reliance upon the economic and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any courtlegal bargains contained herein. 6.

Appears in 1 contract

Samples: Net Lease Agreement (Star Equity Holdings, Inc.)

NET LEASE; TRUE LEASE. (a) The obligations of Tenant hereunder shall be separate acknowledges and independent covenants and agreements, and Fixed Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and the obligations of Tenant hereunder shall continue during the Term, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 of agrees that this Part II or if agreed by Tenant and Landlord upon full repayment of the Loan. This is an absolute net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant Monetary Obligations shall be paid by Tenant without notice or demand, demand (except as otherwise expressly provided herein) and without setoffset-off, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense. This Except as otherwise expressly provided in this Lease, this Lease is and the absolute and unconditional obligation rights of Tenant, Landlord and the obligations of Tenant under this Lease hereunder shall not be affected by any interference with Tenant’s use of any of the Premises event or for any reason, including, but not limited to, including the following: (i) any default by Landlord under this Lease or under any loan document or other agreement with Lender; (ii) any damage to or theft, loss or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), Leased Premises; (iii) the prohibition, limitation any Casualty or restriction of Tenant’s use of any of the Premises, Condemnation; (iv) any eviction by paramount title or otherwise, action of any Governmental Authority; (v) any prohibition, limitation, interruption, cessation, restriction or prevention of Tenant’s use, occupancy or enjoyment of the Leased Premises; (vi) Tenant’s acquisition of ownership of any of the Leased Premises other than pursuant to an express provision of this Lease, ; (vivii) any default on failure of the part of Landlord under this Lease Leased Premises to comply with any Laws or under any other agreement, Legal Requirements; (viiviii) any latent or other defect in, or any theft or loss of in any of the Leased Premises, ; (viiiix) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit interference with Tenant’s rightsuse of the Leased Premises by parties other than Landlord; (x) any eviction by paramount title or otherwise; (xi) the bankruptcy, if anyinsolvency, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II)reorganization, composition, readjustment, liquidation, dissolution or winding-up of, or other proceeding affecting Landlord; (ixxii) the exercise of any remedy, including foreclosure, under any Mortgage; (xiii) construction or renovation of the Leased Premises; (xiv) market or economic changes; or (xv) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs The obligations of Tenant hereunder shall be separate and expenses (other than depreciationindependent covenants and agreements, interest on and amortization of debt incurred by Landlordall Monetary Obligations shall continue to be payable in all events, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating Tenant hereunder shall continue unaffected unless the requirement to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise pay or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not perform the same shall become have been terminated pursuant to an express provision of this Lease. All Rent payable during the Term or thereafterby Tenant hereunder shall constitute “rent” for all purposes, including Section 502(b)(6) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes and insurance costsBankruptcy Code. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease (except Except as otherwise expressly provided in Section 13(d) this Lease, Tenant shall have no right and hereby waives all rights which it may have under any Law to quit, terminate or Section 14 of surrender this Part II Lease or if agreed to by Tenant and Landlord upon full repayment any of the Loan)Leased Premises, or to xxxxx Fixed Rentany set-off, Additional Rent counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense of any other sums payable by Tenant hereunder during the Lease TermMonetary Obligations. (b) Landlord and Tenant agree that this Lease is intended as constitutes a true lease and does not represent a financing arrangement. Each party shall reflect Landlord holds fee simple absolute title to the transaction represented hereby Leased Premises, and such title was not acquired or intended to be held as any type of mortgage or security interest. Landlord and Tenant each stipulate and agree that nothing contained in all applicable booksthis Lease creates or is intended to create a joint venture, records partnership (either de jure or de facto), equitable mortgage, trust, financing device or arrangement, security interest or the like. Landlord and reports Tenant covenant and agree that they will not assert that this Lease is anything but a true lease and waive any claim or defense based upon the characterization of this Lease as anything other than a true lease. In addition, so long as the substantive terms of this Lease remain unchanged, Landlord shall, at Tenant’s sole cost and expense (including income tax filings) in a manner consistent reasonable attorneys’ fees), cooperate with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, any reasonable request made by Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid amend this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to the extent such amendment is necessary for this Lease which may to be taken by any trustee, receiver or liquidator or by any courttreated as an operating lease under generally accepted accounting principles.

Appears in 1 contract

Samples: Master Lease Agreement (Bob Evans Farms Inc)

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NET LEASE; TRUE LEASE. (a) The It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed Rent, that Basic Rent and Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue during the Termunaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 an express provision of this Part II or if agreed by Tenant and Landlord upon full repayment of the LoanLease. This is an absolute a net lease and Fixed Basic Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes and insurance costsspecifically set forth herein. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease during the Term (except as otherwise expressly provided in Section 13(dherein). Tenant agrees that, except as otherwise expressly provided herein, it shall not take any action to terminate, rescind or avoid this Lease notwithstanding (i) the bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding-up or Section 14 other proceeding affecting Landlord; (ii) the exercise of any remedy, including foreclosure, under the Mortgage; (iii) any action with respect to this Part II Lease (including the disaffirmance hereof) which may be taken by Landlord under the Federal Bankruptcy Code or if agreed to by Tenant and any trustee, receiver or liquidator of Landlord upon full repayment or by any court under the Federal Bankruptcy Code or otherwise; (iv) the Taking of the LoanLeased Premises or any portion thereof (except as specifically provided in Paragraph 12(b) below); (v) the prohibition or restriction of Tenant’s use of the Leased Premises under any Legal Requirement or otherwise which is directly caused by or is the result of the actions of Tenant; (vi) the destruction of the Project or any portion thereof; or (vii) default by Landlord hereunder or under any other agreement between Landlord and Tenant (except as specifically provided in this Lease). Tenant waives all rights which are not expressly stated herein but which may now or hereafter otherwise be conferred by law to quit, terminate or surrender this Lease or any of the Leased Premises; to any setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense of or to xxxxx Fixed Basic Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Termunder this Lease, and for any statutory lien or offset right against Landlord or its property, each except as otherwise expressly provided herein. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated pay directly to the proper authorities charged with the collection thereof all charges for water, sewer, gas, oil, electricity, telephone and other utilities or services used or consumed in the Leased Premises for meters that solely serve the Leased Premises during the Term, whether designated as a charge, tax, assessment, fee or otherwise, including, without limitation, water and sewer use charges and taxes, if any, all such charges to be paid as the same from time to time become due. It is understood and agreed that Tenant shall make its own arrangements for the provision of all such utilities and that Landlord shall be under this Lease in accordance with its terms and shall not take no obligation to provide any action utilities to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any courtthe Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (Smsa Gainesville Acquisition Corp.)

NET LEASE; TRUE LEASE. (a) The It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, and Fixed that Basic Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue during the Termunaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 an express provision of this Part II or if agreed by Tenant and Landlord upon full repayment of the LoanLease. This is an absolute a net lease Lease and Fixed Basic Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense, except as otherwise specifically set forth herein. This Lease is the absolute shall not terminate and unconditional obligation of Tenant, and the obligations of Tenant under shall not have any right to terminate this Lease shall not be affected by any interference with Tenant’s use of any of during the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever Term (except as otherwise expressly provided in Section 13(d) of this Part IIherein). Tenant agrees that, (ii) any Condemnation (except as otherwise expressly provided in Section 14 herein, it shall not take any action to terminate, rescind or void this Lease notwithstanding (i) the bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution, winding-up or other proceeding affecting Landlord, (ii) the exercise of this Part II)any remedy, including foreclosure, under the Mortgage, (iii) any action with respect to this Lease (including the prohibitiondisaffirmance hereof) which may be taken by Landlord under the Federal Bankruptcy Code or by any trustee, limitation receiver or liquidator of Landlord or by any court under the Federal Bankruptcy Code or otherwise, (iv) the Taking of the Premises or any portion thereof (except as specifically provided in Paragraph 12(b) below), (v) the prohibition or restriction of Tenant’s 's use of the Premises under any Legal Requirement or otherwise, (vi) the destruction of the Premises or any portion thereof, (vii) the eviction of Tenant from possession of the Premises, (iv) any eviction by paramount title or otherwise, or (vviii) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of by Landlord under this Lease hereunder or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by agreement between Landlord (provided, that this Section 6(a)(viii) shall not limit and Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs costs, expenses and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Lease Term in accordance with the provisions hereof (whether or not the same shall become payable during the Lease Term or thereafter) shall be paid and performed by Tenant. It is the purpose and intention of the parties to this Lease that the Basic Rent due hereunder shall be absolutely net to Landlord and that this Lease shall yield, net to Landlord, the Basic Rent provided in this Lease. Tenant shall pay waives all expenses related rights which are not expressly stated herein, but which may now or hereafter otherwise be conferred by law to the maintenance and repair quit, terminate or surrender this Lease or any of the Premises, and Taxes and insurance costs. This Lease shall not terminate and Tenant shall not have to any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or Section 14 defense of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Basic Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Term. under this Lease, except as otherwise expressly provided herein, and for any statutory lien or offset right against Landlord or its property. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court.

Appears in 1 contract

Samples: Lease (Ace Hardware Corp)

NET LEASE; TRUE LEASE. (a) The obligations of Tenant hereunder This Lease is intended to be and shall be separate deemed and independent covenants construed to be an absolutely “net lease” and agreementsLessee shall pay to Lessor, and absolutely net throughout the Term, the Fixed Annual Rent, Additional Rent free of any charges, assessments, impositions or deductions of any kind and without abatement, deduction or set-off whatsoever and under no circumstances or conditions, whether now existing or hereafter arising, or whether beyond the present contemplation of the parties, shall Lessor be expected or required to make any payment of any kind whatsoever or be under any other obligation or liability hereunder, except as otherwise expressly set forth in this Lease. Lessee shall pay all other sums payable by Tenant hereunder shall continue costs, expenses and charges of every kind and nature relating to be payable in all events, the Premises and the obligations Equipment arising during or pertaining to 190 [***] Indicates material that has been omitted and for which confidential treatment has been requested. All such omitted material has been filed with the U.S. Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities and Exchange Act of Tenant hereunder shall continue 1934, as amended. periods within the Term [***]191, including, without limitation, real property taxes, personal property taxes, use taxes and any sales taxes, which may arise or become due or payable during the Term, unless the requirement whether such amounts are ordinary or extraordinary and irrespective as to pay or perform the same shall whether such amounts could have been terminated pursuant to reasonably anticipated by the provisions of Section 13(d)parties. Except as otherwise provided in this Lease, or Section 14 of this Part II or if agreed by Tenant and Landlord upon full repayment of the Loan. This is an absolute net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease Lessee hereunder shall not be affected by any interference with Tenant’s use reason of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of the Premises or any part thereof, any taking of the Premises or any part thereof or interest therein by condemnation or otherwise, any prohibition, limitation, restriction or prevention of Lessee’s use, occupancy or enjoyment of the Premises or any part thereof, or any interference with such use, occupancy or enjoyment by any cause whatsoever (except as otherwise expressly provided in Section 13(d) person or for any reason, any interruption or failure of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of utilities servicing the Premises, (iv) any matter affecting title to the Premises, any eviction by paramount title or otherwise, (v) Tenantimpossibility of performance by Lessor, Lessee or both, any action of any governmental authority, Lessee’s acquisition of ownership of any all or part of the Premises (unless this Lease shall be terminated by a writing signed by all parties, including any mortgagee, having an interest in the Premises), or any other than cause whether similar or dissimilar to the foregoing and whether or not Lessee shall have notice or knowledge thereof and whether or not such cause shall now be foreseeable, except with respect to such of the foregoing arising out of any default hereunder by Lessor or, in any such case, any entity controlled by, controlling or under common control with Lessor, or any employee or contractor of Lessor or any such affiliated entity. The parties intend that the obligations of Lessee under this Lease shall be separate and independent covenants and agreements and shall continue unaffected unless such obligations have been modified or terminated pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Premises, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlord, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same shall become payable during the Term or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair of the Premises, and Taxes and insurance costs. This Lease shall not terminate and Tenant shall not have any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) or Section 14 of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Term. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangement. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court.

Appears in 1 contract

Samples: Transaction Agreement (Getty Realty Corp /Md/)

NET LEASE; TRUE LEASE. (a) The It is the intention of the parties hereto that the obligations of Tenant hereunder Lessee shall be separate and independent covenants and agreements, and Fixed that Base Rent, Additional Supplemental Rent and all other sums payable by Tenant hereunder Lessee shall continue to be payable in all events, and that the obligations of Tenant hereunder Lessee shall continue during the Termunaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to the provisions of Section 13(d), or Section 14 of this Part II or if agreed by Tenant and Landlord upon full repayment of the Loan. This is an absolute net lease and Fixed Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, recoupment, abatement, suspension, reduction or defense. This Lease is the absolute and unconditional obligation of Tenant, and the obligations of Tenant under this Lease shall not be affected by any interference with Tenant’s use of any of the Premises for any reason, including, but not limited to, the following: (i) any damage to or destruction of any of the Premises by any cause whatsoever (except as otherwise expressly provided in Section 13(d) of this Part II), (ii) any Condemnation (except as otherwise expressly provided in Section 14 of this Part II), (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Premises other than pursuant to an express provision of this Lease. This Lease is a net lease and it is agreed and intended that Base Rent, Supplemental Rent and any other amounts payable hereunder by Lessee shall be paid without notice, or demand, absolutely net to Lessor and without counterclaim, setoff, deduction or defense, recoupment, abatement, diminution, reduction or suspension whatsoever and that Lessee's obligation to pay all such amounts throughout the Lease Term is absolute and unconditional so that this Lease shall yield such Rent net to Landlord under all circumstances and conditions whether now or hereinafter existing and whether or not within the contemplation of the parties. Lessee shall pay all expenses related to the operation, management, development, use, occupancy, maintenance and repair of the Property, including, without limitation, the costs of utilities, real estate taxes and insurance, which arise or become due or payable during or after (vibut attributable to a period falling within) the Lease Term, and Lessee shall indemnify Lessor against, and hold Lessor harmless from, the same, and Lessee's liability for the payment of any of the same which shall become payable after the Lease Term as aforesaid is hereby expressly provided to survive the Lease Term. (b) This Lease shall not terminate and Lessee shall not have any rights to terminate this Lease during the Lease Term except as may be expressly provided herein. Without limiting any of the foregoing provisions of this Section 4.1, Lessee shall not take any action to terminate, rescind or void this Lease and the obligations and liabilities of Lessee hereunder shall in no way be released, discharged or otherwise affected for any reason, including: (a) any default defect in the condition, merchantability, design, quality or fitness for use of the Property or any part thereof, or the failure of the Property to comply with all Applicable Laws, including any inability to occupy or use the Property by reason of such noncompliance; (b) any damage to, removal, abandonment, salvage, loss, casualty, condemnation, theft, scrapping or destruction of or any requisition or taking of the Property or any part thereof, or any environmental conditions on the Property or any property in the vicinity of the Property or otherwise affecting the Property or any part thereof or during the course of any Alterations as permitted hereunder; (c) any restriction, prevention or curtailment of or interference with any use of the Property or any part thereof including eviction; (d) any defect in title to or rights to the Property or any Lien on such title or rights to the Property; (e) any change, waiver, extension, indulgence or other action or omission or breach in respect of any obligation or liability of or by any Person; (f) any right or claim that Lessee has or might have against any Person, including Lessor or any vendor, manufacturer, contractor of or for the Property; (g) any failure on the part of Landlord under Lessor or any other person to perform or comply with any of the terms of this Lease or under of any other agreement; (h) any invalidity, unenforceability, rejection or disaffirmance of this Lease by operation of law or otherwise against or by Lessee or Lessor or any provision hereof or any other agreement, or any provision thereof; (viii) the impossibility of performance by Lessee; (j) any latent action by any court, administrative agency or other defect inGovernmental Authority; (k) any interference, interruption or any theft cessation in the use, possession or loss of any quiet enjoyment of the PremisesProperty; (l) the prohibition or restriction of Lessee's use of the Property under any Applicable Laws or otherwise; (m) the eviction of Lessee from possession of the Property, (viii) any violation of Section 35 of this Part II by Landlord (provided, that this Section 6(a)(viii) shall not limit Tenant’s rights, if any, to seek injunctive relief against Landlord for violation of said Section 35 of this Part II), paramount title or otherwise; or (ixn) any other causeoccurrence whatsoever, whether similar or dissimilar to the foregoing, any present whether foreseeable or future Law to the contrary notwithstanding. All costs and expenses (other than depreciation, interest on and amortization of debt incurred by Landlordunforeseeable, and costs incurred by Landlord in financing or refinancing the Premises) and other obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable with respect to the period which ends on the expiration or earlier termination of the Term in accordance with the provisions hereof (whether or not the same Lessee shall become payable during the Term have notice or thereafter) shall be paid and performed by Tenant. Tenant shall pay all expenses related to the maintenance and repair knowledge of any of the Premises, and Taxes and insurance costsforegoing. This Lease shall not terminate and Tenant shall not have be noncancellable by Lessee for any right to terminate this Lease (except as otherwise expressly provided in Section 13(d) or Section 14 of this Part II or if agreed to by Tenant and Landlord upon full repayment of the Loan), or to xxxxx Fixed Rent, Additional Rent or any other sums payable by Tenant hereunder during the Lease Term. (b) Landlord and Tenant agree that this Lease is intended as a true lease and does not represent a financing arrangementreason whatsoever. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) in a manner consistent with “true lease” treatment rather than “financing” treatment. (c) Except as otherwise permitted herein, Tenant shall Lessee will remain obligated under this Lease in accordance with its terms terms, and shall will not take any action to terminate, rescind or avoid this Lease, notwithstanding any bankruptcy, insolvency, reorganization, composition, readjustment, liquidation, dissolution dissolution, winding up or other proceeding proceedings affecting Landlord Lessor or any assignee of Lessor, and notwithstanding any action with respect to this Lease which that may be taken by a trustee or receiver of Lessor or any trustee, receiver or liquidator assignee of Lessor or by any courtcourt in any such proceeding. Under no circumstances or conditions shall Lessor be expected or required to make any payment of any kind hereunder or have any obligations with respect to the use, possession, control, maintenance, alteration, rebuilding, replacing, repair, restoration or operation of all or any part of the Property, so long as the Property or any part thereof is subject to this Lease, and Lessee expressly waives the right to perform any such action at the expense of Lessor whether hereunder or pursuant to any law. Lessee waives all rights which are not expressly stated herein but which may now or hereafter otherwise be conferred by law (i) to quit, terminate or surrender this Lease or the Property, (ii) to have any setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense of or to Base Rent, Supplemental Rent or any other sums payable under this Lease, except as otherwise expressly provided herein, and (iii) to have any statutory lien or offset right against Lessor or its property. (c) The risk of loss or of decrease in the enjoyment and beneficial use of all or any portion of the Property in consequence of the damage or destruction thereof by fire, the elements, casualties, thefts, riots, wars or otherwise, or in consequence of foreclosures, attachments, levies or executions (other than by Lessor and those claiming from, through or under Lessor) is assumed by Lessee, and Lessor shall in no event be answerable or accountable therefor. None of the events mentioned in this Section 4.1(c) shall entitle Lessee to any abatement or reduction of Base Rent or Supplemental Rent. (d) Lessor and Lessee intend that this Lease be a true lease that affords the parties hereto the rights and remedies of landlord and tenant hereunder and does not represent a financing arrangement.

Appears in 1 contract

Samples: Lease Agreement (Kindercare Learning Centers Inc /De)

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