Personal Property Lease. There are no personal property leases for property or equipment used by the Company in connection with the Business.
Personal Property Lease. On the terms and subject to the Conditions herein set forth, on the Closing Date, Seller shall, and does hereby agree to lease to Bayer, for the consideration hereinafter provided for, the assets owned, held or claimed by Seller described or refer in Exhibit "B" (hereinafter referred to as the "Leased Assets"). The Leased Assets as well as the Purchased Assets will be collectively known as the "Subject Assets."
Personal Property Lease. The lease for the copy machine described in SCHEDULE 2.1(D).
Personal Property Lease. That certain lease of furniture, fixtures, and equipment, dated as of April 1, 2003, between Seller and 5580 Holdings, Inc., f/k/a/ Zeosoft Corporation;
Personal Property Lease. On the terms and subject to the conditions herein set forth, on the Closing Date, Seller shall, and does hereby agree to lease to Buyer, for the consideration hereinafter provided for, any encumbered assets owned, held or claimed by Seller, if any. Upon satisfaction of the outstanding debt described or referenced above all such encumbered assets will transfer and convey unto Buyer as if originally transferred with the unencumbered assets.
Personal Property Lease. TRS Corp. and Tenant have, as of the Commencement Date, entered into the Personal Property Lease. This Agreement shall terminate automatically upon the expiration or earlier termination of the Personal Property Lease. Tenant’s right to renew this Agreement for any Renewal Term shall be conditioned upon the renewal by Tenant of the Personal Property Lease. In the event of a permitted assignment by Landlord or Tenant hereunder, such permitted assignee shall assume all rights and obligations of Landlord or Tenant, as the case may be, arising or accruing hereunder and under the Personal Property Lease from and after the date of such assignment..
Personal Property Lease. Enchanted Village TRS Corp and Tenant have entered into the Personal Property Lease. This Lease shall terminate automatically upon the expiration or earlier termination of the Personal Property Lease. Tenant’s right to renew this Lease for any Extended Term shall be conditioned upon the renewal by Tenant of the Personal Property Lease. In the event of a permitted assignment by Landlord or Tenant under this Lease, such permitted assignee shall assume all rights and obligations of Landlord or Tenant, as the case may be, arising hereunder and under the Personal Property Lease.
Personal Property Lease. 39 6.20. Company Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 6.21. Environmental Investigation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 6.22. Certain Agreements with HMC Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 (ii) 4
Personal Property Lease. Prior to or simultaneously with the Closing, the Company and Donaxx X. Xxxxxx xxxll have the right to enter into a Personal Property Lease in the form of Exhibit L.
Personal Property Lease. On or before the Closing, FS Surgical and FS Hospital and Newco shall have entered into a personal property lease (the “Personal Property Lease”) on terms and conditions mutually satisfactory to First Surgical and Northstar. Among other things, the Personal Property Lease shall contain the following terms:
(i) Term: 5 years (the “Initial Term”); provided however, the term may be extended for up to an additional three (3) years if Newco has not made distribution payments to First Surgical of at least $18,000,000 during the Initial Term. If the distribution payments made by Newco to First Surgical during the Initial Term are less than $18,000,000, the Personal Property Lease payments will continue for that period of time (the “Extended Term”) until the sum of the Personal Property Lease payments made by Newco and one half of the distribution payments received by First Surgical equal the difference between $18,000,000 and the distribution payments made to First Surgical during the Initial Term;
(ii) First Surgical agrees to pay at least twenty-five percent (25%) of any distribution payment received during the Initial Term to principal debt reduction of the loans under the First Street Credit Agreement. Additionally, in any month in which First Surgical receives a distribution payment from Newco of at least $100,000, First Surgical agrees to pay at least $50,000 toward principal debt reduction of such loans;
(iii) Monthly payment: $189,445 per month; subject to adjustment based on changes to the monthly debt service due under the First Street Credit Agreement as a result of the interest rate charged by Iberia Bank; however, the monthly payments shall not be less than $150,000 and not be more than $190,000;
(iv) Property to be leased: All furniture, fixtures, equipment, tenant improvements and other personal property owned by FS Hospital and FS Surgery as of the Closing Date; and
(v) Property to be subleased: To the extent not assumed by Newco under Section 6.1 (d), all furniture, fixtures, equipment, tenant improvements and other person property leased from third parties by FS Hospital and FS Surgery as of the Closing Date.
(vi) Vxxxx Payable: First Surgical shall cause $19,445 of the Monthly payment of the personal property lease shall be applied and paid to satisfy the Vxxxx Receivable. After thirty-six (36) months, the monthly payment during the Extended Term, if any, of the Personal Property Lease shall be reduced by $19,445.
