Common use of Prime Lease Clause in Contracts

Prime Lease. (a) The term "Prime Lease", as such term is referred to ----------- in this lease, means that certain Lease Agreement entered into by and between Marathon Realty Corporation, as Landlord, and K-VA-T Food Stores, Inc., as Tenant, covering the land and building occupied by Store in which Premises are located, and dated August 1, 1987. (b) This lease is executed by Lessor and Lessee as a sublease under said Prime Lease, and shall be subject and subordinate to all of the terms and conditions of said Prime Lease. Subject to the provisions of Section 4 hereof, upon the termination of said Prime Lease for any reason, this lease shall terminate. In the event that said Prime Lease is terminated and Lessor continues to occupy said store building and operate said store, whether as tenant or owner, this lease shall not terminate, but remain in effect until the earlier of: 1. Cessation of operation of said store by Lessor, or, 2. Its term, including any extension thereof, expires. In the event that Lessor ceases operations in said store and relocates within a one-mile radius of the store building within one year of cessation of operations, Lessee shall have the opportunity to relocate with Lessor. The relocation of Lessee with Lessor shall be contingent upon: 1. The approval by Lessor of Lessees's bank facility plans, 2. Where applicable, Lessees's maintaining operations at both the old and new facilities, 3. Monthly rental from Lessee in the new store building shall increase in proportion to Lessor's increased occupancy costs and, 4. Said relocation does not violate any terms and conditions or any exclusive rights granted previously by Lessor's landlord, pursuant to the Prime Lease for the new store building. (c) Lessee agrees that this lease is and shall be subordinate and subject to the lien of any first mortgage, deed to secure debt, deed of trust, or other instrument in the nature thereof which may now or hereafter affect or encumber the fee title to the Premises and the land upon which the store building is located. The preceding sentence pertaining to the subordination of this lease to any first mortgage, security deed, or other instrument in the nature thereof shall be self-operative, and no further instrument or subordination shall be required by the holder of any such instrument affecting or encumbering the fee title of the Premises or the land upon which the store building is located. In confirmation of such subordination, Lessee shall, upon demand, at any time or times, execute, acknowledge, and deliver to Lessor or the holder of any such mortgage, deed to secure debt, deed of trust, or other instrument, without expense, any and all instruments that may be requested by Lessor or such holder to evidence the subordination of this lease and all rights hereunder to the lien of any such mortgage, deed to secure debt, deed of trust, or other instrument, and each renewal, modification, consolidation, replacement, and extension thereof. (d) Lessor covenants and warrants that it has obtained all requisite consent to the subletting of Premises to Lessee, and that it has the unqualified right to enter into this lease agreement and sublet Premises to Lessee.

Prime Lease. (a) The term "Prime Lease", as such term is referred ----------- to ----------- in this lease, means that certain Lease Agreement entered into by and between Marathon Realty Corporation, as Landlord, and K-VA-T Food Stores, Inc., as Tenant, covering the land and building occupied by Store in which Premises are located, and dated August 1, 1987. (b) This lease is executed by Lessor and Lessee as a sublease under said Prime Lease, and shall be subject and subordinate to all of the terms and conditions of said Prime Lease. Subject to the provisions of Section 4 hereof, upon the termination of said Prime Lease for any reason, this lease shall terminate. In the event that said Prime Lease is terminated and Lessor continues to occupy said store building and operate said store, whether as tenant or owner, this lease shall not terminate, but remain in effect until the earlier of: 1. Cessation of operation of said store by Lessor, or, 2. Its term, including any extension thereof, expires. In the event that Lessor ceases operations in said store and relocates within a one-mile radius of the store building within one year of cessation of operations, Lessee shall have the opportunity to relocate with Lessor. The relocation of Lessee with Lessor shall be contingent upon: 1. The approval by Lessor of LesseesLessee's bank facility plans, 2. Where applicable, LesseesLessee's maintaining operations at both the old and new facilities, 3. Monthly rental from Lessee in the new store building shall increase in proportion to Lessor's increased occupancy costs and, 4. Said relocation does not violate any terms and conditions or any exclusive rights granted previously by Lessor's landlord, pursuant to the Prime Lease for the new store building. (c) Lessee agrees that this lease is and shall be subordinate and subject to the lien of any first mortgage, deed to secure debt, deed of trust, or other instrument in the nature thereof which may now or hereafter affect or encumber the fee title to the Premises and the land upon which the store building is located. The preceding sentence pertaining to the subordination of this lease to any first mortgage, security deed, or other instrument in the nature thereof shall be self-operative, and no further instrument or subordination shall be required by the holder of any such instrument affecting or encumbering the fee title of the Premises or the land upon which the store building is located. In confirmation of such subordination, Lessee shall, upon demand, at any time or times, execute, acknowledge, and deliver to Lessor or the holder of any such mortgage, deed to secure debt, deed of trust, or other instrument, without expense, any and all instruments that may be requested by Lessor lessor or such holder to evidence the subordination of this lease and all rights hereunder to the lien of any such mortgage, deed to secure debt, deed of trust, or other instrument, and each renewal, modification, consolidation, replacement, and extension thereof. (d) Lessor covenants and warrants that it has obtained all requisite consent to the subletting of Premises to Lessee, and that it is has the unqualified right to enter into this lease agreement and sublet Premises to Lessee.

Prime Lease. (a) The term "Prime Lease", as such term is referred ----------- to ----------- in this lease, means that certain Lease Agreement entered into by and between Marathon Realty Corporation▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ et. al., as Landlord, and K-VA-T Food Stores, Inc.▇▇▇▇▇ Realty, as Tenant, covering the land and building occupied by Store in which Premises are located, and dated August 1March 24, 19871981. (b) This lease is executed by Lessor and Lessee as a sublease under said Prime Lease, and shall be subject and subordinate to all of the terms and conditions of said Prime Lease. Subject to the provisions of Section 4 hereof, upon the termination of said Prime Lease for any reason, this lease shall terminate. In the event that said Prime Lease is terminated and Lessor continues to occupy said store building and operate said store, whether as tenant or owner, this lease shall not terminate, but remain in effect until the earlier of: 1. Cessation of operation of said store by Lessor, or, 2. Its term, including any extension thereof, expires. In the event that Lessor ceases operations in said store and relocates within a one-mile radius of the store building within one year of cessation of operations, Lessee shall have the opportunity to relocate with Lessor. The relocation of Lessee with Lessor shall be contingent upon: 1. The approval by Lessor of LesseesLessee's bank facility plans, 2. Where applicable, LesseesLessee's maintaining operations at both the old and new facilities, 3. Monthly rental from Lessee in the new store building shall increase in proportion to Lessor's increased occupancy costs and, 4. Said relocation does not violate any terms and conditions or any exclusive rights granted previously by Lessor's landlord, pursuant to the Prime Lease for the new store building. (c) Lessee agrees that this lease is and shall be subordinate and subject to the lien of any first mortgage, deed to secure debt, deed of trust, or other instrument in the nature thereof which may now or hereafter affect or encumber the fee title to the Premises and the land upon which the store building is located. The preceding sentence pertaining to the subordination of this lease to any first mortgage, security deed, or other instrument in the nature thereof shall be self-operative, and no further instrument or subordination shall be required by the holder of any such instrument affecting or encumbering the fee title of the Premises or the land upon which the store building is located. In confirmation of such subordination, Lessee shall, upon demand, at any time or times, execute, acknowledge, and deliver to Lessor or the holder of any such mortgage, deed to secure debt, deed of trust, or other instrument, without expense, any and all instruments that may be requested by Lessor lessor or such holder to evidence the subordination of this lease and all rights hereunder to the lien of any such mortgage, deed to secure debt, deed of trust, or other instrument, and each renewal, modification, consolidation, replacement, and extension thereof. (d) Lessor covenants and warrants that it has obtained all requisite consent to the subletting of Premises to Lessee, and that it is has the unqualified right to enter into this lease agreement and sublet Premises to Lessee.