Premises, Term and Warranty. The Lessor does hereby lease, demise and let to Lessee all of the Lessor’s right, title and interests in and to the Leased Premises. TO HAVE AND TO HOLD the Leased Premises with all rights, privileges, easements and appurtenances thereunto belonging, unto the Lessee, beginning on the date of issuance of the Bonds and ending on the day prior to a date not later than twenty (20) years after the date of issuance of the Bonds. However, the term of this Lease will terminate at the earlier of (a) the exercise by the Lessee of the option to purchase the Leased Premises pursuant to Section 11 and the payment of the option price, or (b) the payment or defeasance of all bonds issued (i) to finance the cost of the Leased Premises, (ii) to refund all or a portion of such bonds, (iii) to refund all or a portion of such refunding bonds, or (iv) to improve the Leased Premises; provided that no bonds or other obligations of the Lessor issued to finance the Leased Premises remain outstanding at the time of such payment or defeasance. The Lessor hereby represents that it is possessed of, or will acquire, the Leased Premises and the Lessor warrants and will defend the Leased Premises against all claims whatsoever not suffered or caused by the acts or omissions of the Lessee or its assigns. Notwithstanding the foregoing, the Leased Premises may be amended to add additional property to the Leased Premises or remove any portion of the Leased Premises, provided however, following such amendment, the rental payable under this Lease shall be based on the value of the portion of the Leased Premises which is available for use, and the rental payments due under this Lease shall be in amounts sufficient to pay when due all principal of and interest on all outstanding Bonds. In the event that all or a portion of the Leased Premises shall be unavailable for use by the Lessee, subject to the completion of any process required by law, the Lessor and the Lessee shall amend the Lease to add to and/or replace a portion of the Leased Premises to the extent necessary to provide for available Leased Premises with a value supporting rental payments under the Lease sufficient to pay when due all principal of and interest on outstanding Bonds.
Premises, Term and Warranty. The term of the Lease shall be reduced to twenty (20) years. Accordingly, Section 1(a) of the Lease is hereby deleted in its entirety and replaced as follows:
Premises, Term and Warranty. The Lessor does hereby lease, demise and let to Lessee all of the Lessor’s right, title and interests in and to the Public Leased Premises. TO HAVE AND TO HOLD the Public Leased Premises with all rights, privileges, easements and appurtenances thereunto belonging, unto the Lessee, beginning on the date of issuance of the 2024D Bonds and ending on the day prior to a date not later than twenty (20) years after the date of issuance of the 2024D Bonds. However, the term of this Public Lease will terminate at the earlier of (a) the exercise by the Lessee of the option to purchase the Public Leased Premises pursuant to Section 10 and the payment of the option price, or (b) the payment or defeasance of all 2024D Bonds issued (i) to finance the cost of the Public Leased Premises,
Premises, Term and Warranty. The Lessor does hereby lease, demise and let to Lessees all of the Lessor’s right, title and interests in and to the Leased Premises.
Premises, Term and Warranty. (a) The Lessor does hereby lease, demise and let to the Lessees certain real property in the City, described on Exhibit A attached hereto and made a part hereof (the “Premises”) to have and to hold the same, with all rights, privileges, easements and appurtenances thereunto belonging for a term: (i) beginning on the later of the (A) the Closing Date (as defined in the Project Agreement); or (B) the date the Bonds are issued by the City; and (ii) ending on the date that is twenty-five (25) years after the date the Bonds are issued (the "Lease Term"); provided however, if the Project Agreement is terminated prior to the Closing Date, this Lease shall be null and void.
Premises, Term and Warranty. The Lessor does hereby lease, demise and let to the Lessee all of the Lessor’s right, title and interest in the real estate in the City more particularly described in Exhibit A, and the Garage Project constructed thereon by Lessor (the real estate and the Garage Project, hereinafter, the “Leased Premises”). TO HAVE AND TO HOLD the Leased Premises with all rights privileges, easements and appurtenances thereunto belonging, unto the Lessee, beginning on the date or dates on which the Project is completed and ready for use and ending on the day prior to that date not more than twenty-five (25) years thereafter (the “Lease Term”). However, the Lease Term will terminate at the earlier of (a) the exercise by the Lessee of the option to purchase the Leased Premises, as provided herein, and the payment of the option price, or (b) the payment or defeasance of all Bonds issued (i) to finance the cost of the Leased Premises, (ii) to refund all or a portion of the Bonds,
Premises, Term and Warranty. Section 1(a) of the Original Lease is hereby amended to read in its entirety as set forth below: The Lessor does hereby lease, demise, and let to the Lessee (i) certain real estate in Pulaski County, Indiana, described in Exhibit A-1 and Exhibit A-2 each attached hereto and made a part hereof (collectively, the “Real Estate”), (ii) the existing Pulaski County Justice Center Facility located at 000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxx (the “Existing Facility”), and (iii) the, to be renovated, existing Pulaski County, Indiana courthouse located at 000 Xxxx Xxxx Xxxxxx, Xxxxxxx, Indiana and related improvements and projects to be constructed on the Real Estate (the “Improvements”) according to plans and specifications prepared for the Lessor and the Lessee (the “Plans and Specifications”) (the Real Estate, the Existing Facility, the Improvements, and appurtenances thereto, collectively, the “Premises”), to have and to hold the same, with all rights, privileges, easements, and appurtenances thereunto belonging, beginning on the date the Bonds (as hereinafter defined in Section 2 of this Lease) are issued by the Lessor and ending on a date not more than twenty (20) years thereafter. Nowithstanding the foregoing, on the date that is the earlier of (i) three (3) years from the date of the recording of this Lease, or (ii) the completion of the Improvements as endorsed in the form of Exhibit C attached hereto, the Existing Facility and the Real Estate described on Exhibit A-2 attached hereto shall be removed from the lien of this Lease and on and after such date the only Premises subject to this Lease shall be the Improvements and the Real Estate described on Exhibit A-1.
Premises, Term and Warranty. (a) The Lessor does hereby lease, demise and let to the Lessees certain real estate in the City, described on Exhibit A attached hereto and made a part hereof (the “Real Estate”), including the parking garage and other improvements to be constructed thereon (the “Improvements”), as part of the Project in accordance with the Developer Agreements (as defined in Section 12) (the Improvements and the Real Estate, collectively, the “Premises”) to have and to hold the same, with all rights, privileges, easements and appurtenances thereunto belonging for a term: (i) beginning on the later of the (A) the Closing Date (as defined in the Project Agreement); or (B) the date the Bonds are issued by the City; and (ii) ending on the date that is twenty-five (25) years after the date the Bonds are issued (the "Lease Term"); provided however, if the Project Agreement is terminated prior to the Closing Date, this Lease shall be null and void.
Premises, Term and Warranty. (a) The Lessor does hereby lease, demise and let to the Lessee certain real estate in the City, described on Exhibit A attached hereto and made a part hereof (the “Real Estate”), including the Garage and other improvements to be constructed thereon (the “Improvements”) (the Improvements and the Real Estate, collectively, the “Premises”) to have and to hold the same, with all rights, privileges, easements and appurtenances thereunto belonging for a term: (i) beginning on the later of the (A) the Closing Date (as defined in the Project Agreement); or (B) the date the Bonds are issued by the City; and (ii) ending on the date that is twenty-five (25) years after the date the Bonds are issued (the "Lease Term"); provided however, if the Project Agreement is terminated prior to the Closing Date, this Lease shall be null and void.
Premises, Term and Warranty. 1.1 Exhibit A to the 2014 Lease is hereby amended to remove the Excised Premises, as described on Annex II hereto, from the Premises.
