No New Lease Burdens Sample Clauses

No New Lease Burdens. As to each Lease that remains subject to this Agreement, until Ridgewood has earned and received an assignment of an interest, or relinquishes its rights to earn any interest therein, or until this Agreement terminates, Chevron agrees not to create any additional lease burdens, marketing commitments, or other contractual obligations on such Leases as to the Available Acreage and agrees not to assign all or a portion of its interest in the Contract Acreage, except as contemplated by Sections 3, 4 and 8. Prior to Ridgewood receiving an assignment of an interest in a Prospect Chevron shall not create or allow the creation of any additional lease burdens affecting the Contract Acreage which Ridgewood has a right to earn hereunder. During the term of this Agreement, Chevron will use business-like efforts not to unnecessarily prejudice the rights and options of Ridgewood as stipulated hereunder.
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No New Lease Burdens. As to the Lease(s) that are subject to this Agreement, until Company has earned and received an assignment of an interest, or relinquishes its rights to earn any interest therein, or until this Agreement terminates, Chevron agrees not to create any additional lease burdens, marketing commitments, or other contractual obligations on such Lease(s) as to the Available Acreage. Prior to Company receiving an assignment of an interest in a Prospect, Chevron shall not create or allow the creation of any additional lease burdens afecting the Contract Acreage which Company has a right to earn hereunder. During the term of the Company's right to ear under this Agreement, Chevron shall use business-like efforts not to unnecessarily prejudice the rights and options Company as stipulated hereunder.
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No New Lease Burdens. Until Farmoutee earns an interest under this Agreement, or until the right to earn any portion of the Farmout Premises pursuant to this Agreement terminates, Farmoutor agrees not to create any additional lease burdens on the Farmout Premises. It is provided, however, that Farmoutee shall pay or otherwise discharge any burdens created by Farmoutee which affect the Farmout Lease.
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No New Lease Burdens. As to each Lease that remains subject to this Agreement, until McMoRan has received an assignment of an interest, or relinquishes its rights to earn any interest therein, or until this Agreement terminates, Texaco agrees not to create any additional lease burdens on such Lease and not to assign all or a portion of its interest in the Contract Acreage unless such assignment is expressly subject to this Agreement. Prior to McMoRan receiving an assignment of an interest in a Prospect, Texaco shall not create or allow the creation of any additional lease burdens affecting the Contract Acreage which McMoRan has a right to earn hereunder. During the term of this Agreement, Texaco will use its best efforts not to prejudice the rights and options of McMoRan as stipulated hereunder.
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No New Lease Burdens. Until Ridgewood earns an interest under this PA, or until the right to earn a portion of the Chevron interest in the Contract Area pursuant to this PA terminates, Ridgewood and Chevron (except as specified in Article 15) agree that they have not and will not create any additional lease burdens or dedications on the Contract Area. No mortgage or pledge or refinancing arrangement by Ridgewood before or after any such interest is earned or assignex xx xxxx permitted without the prior written consent of Chevron, which consent shall not be unreasonably withheld. Such condition shall be made express in any Assignment of earned area made to Ridgewood. Ridgewood North Jaguar PA November 1, 2006
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Related to No New Lease Burdens

  • New Leases Continue its present rental program and efforts at such Seller’s Property to rent vacant space in accordance with past practices; provided that, without the prior written consent of the Buyer, which consent may be granted or withheld in the Buyer’s sole discretion, such Seller shall not (i) execute any new lease, license or other occupancy agreement, (ii) amend, supplement, terminate, accept the surrender of, renew or otherwise modify any existing Lease, (iii) approve any assignment or sublease of any existing Lease, or (iv) waive any right or obligation thereunder; provided, however, that, in the case of any amendment, supplement, termination, surrender, renewal or modification of any existing Lease as set forth in clause (ii) above, if such existing Lease expressly and specifically sets forth the terms of any such amendment, supplement, termination, surrender, renewal or modification and requires the landlord under the Lease to acknowledge or counter-sign the same, in which case, the Buyer’s consent shall not be required, but Seller shall provide the Buyer with written notice of (and to the extent such amendment, supplement or modification modifies the rental terms of such Lease which rental amount is not specifically stated in such Lease, the Buyer shall have an opportunity to review and comment upon) such amendment, supplement, termination, surrender, renewal or modification at least five (5) Business Days prior to the date of execution. If such Seller enters into any new lease, license or other occupancy agreement, or renews any existing Lease (each such new lease, license, occupancy agreement and renewal, a “New Lease”) after the date hereof in accordance with the terms of this Section 3.2(d), then each such lease, license, occupancy agreement and renewal shall be included in the definition of “Leases” herein and added to Schedule 3.2(c) attached hereto, shall be assigned to and assumed by the Buyer at the Closing in accordance with this Agreement. If the Buyer does not reject or approve a new lease, license, occupancy agreement, renewal or a Lease amendment within five (5) Business Days after receipt of a copy thereof, then the Buyer shall be deemed to have approved such new lease, license, occupancy agreement, renewal or Lease amendment; provided that such notice includes specific reference to this Section 3.3(d) and the deemed approval provision hereof.

  • New Lease The Ground Lease requires the ground lessor to enter into a new lease with Lender upon termination of the Ground Lease for any reason, including rejection of the Ground Lease in a bankruptcy proceeding.

  • Real Property; Leasehold Neither the Company nor any of its Subsidiaries owns or has ever owned any real property. The Company has made available to Parent (a) an accurate and complete list of all real properties with respect to which the Company directly or indirectly holds a valid leasehold interest as well as any other real estate that is in the possession of or leased by the Company or any of its Subsidiaries, and (b) copies of all leases under which any such real property is possessed (the “Company Real Estate Leases”), each of which is in full force and effect, with no existing material default thereunder. The Company’s use and operation of each such leased property conforms to all applicable Laws in all material respects, and the Company has exclusive possession of each such leased property and has not granted any occupancy rights to tenants or licensees with respect to such leased property. In addition, each such leased property is free and clear of all Encumbrances other than Permitted Encumbrances.

  • Real Property Lease Except as set forth in Disclosure Schedule 1.1.(b), Seller has no leases of real property used or held for use in connection with the Business or the Purchased Assets.

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted.

  • Additional Property Collateral shall also include the following property (collectively, the “Additional Property”) which Debtor becomes entitled to receive or shall receive in connection with any other Collateral: (a) any stock certificate, including without limitation, any certificate representing a stock dividend or any certificate in connection with any recapitalization, reclassification, merger, consolidation, conversion, sale of assets, combination of shares, stock split or spin-off; (b) any option, warrant, subscription or right, whether as an addition to or in substitution of any other Collateral; (c) any dividends or distributions of any kind whatsoever, whether distributable in cash, stock or other property; (d) any interest, premium or principal payments; and (e) any conversion or redemption proceeds; provided, however, that until the occurrence of an Event of Default (as hereinafter defined), Debtor shall be entitled to all cash dividends and all interest paid on the Collateral (except interest paid on any certificate of deposit pledged hereunder) free of the security interest created under this Agreement. All Additional Property received by Debtor shall be received in trust for the benefit of Secured Party. All Additional Property and all certificates or other written instruments or documents evidencing and/or representing the Additional Property that is received by Debtor, together with such instruments of transfer as Secured Party may request, shall immediately be delivered to or deposited with Secured Party and held by Secured Party as Collateral under the terms of this Agreement. If the Additional Property received by Debtor shall be shares of stock or other securities, such shares of stock or other securities shall be duly endorsed in blank or accompanied by proper instruments of transfer and assignment duly executed in blank with, if requested by Secured Party, signatures guaranteed by a bank or member firm of the New York Stock Exchange, all in form and substance satisfactory to Secured Party. Secured Party shall be deemed to have possession of any Collateral in transit to Secured Party or its agent.

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Additional Land All xxxxxxxxxx xxxxx, xxxxxxx and development rights hereafter acquired by Borrower for use in connection with the Land and the development of the Land and all additional lands and estates therein which may, from time to time, by supplemental mortgage or otherwise be expressly made subject to the lien of this Security Instrument;

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Property Leased Lessor leases to Lessee all of the Equipment described on each Summary Equipment Schedule. In the event of a conflict, the terms of the applicable Schedule prevail over this Master Lease.

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