Retail Leases Clause Samples
The 'Retail Leases' clause defines the terms and conditions specific to leasing commercial property for retail purposes. It typically outlines the rights and obligations of both landlords and tenants, such as permitted use of the premises, rent calculation, fit-out requirements, and compliance with relevant retail leasing legislation. This clause ensures that both parties understand the unique legal and operational considerations of retail tenancies, helping to prevent disputes and promote a fair leasing environment tailored to the retail sector.
Retail Leases. (a) From and after the date hereof (including after the Closing Date), Parent and Seller shall, at their sole cost and expense (provided that in no event shall Parent or Seller (or any Affiliate thereof) be obligated to pay any money to a Person to obtain a Required Consent), use their reasonable best efforts to obtain (and Buyer agrees to cooperate with Parent and Seller in obtaining) any Required Consent pursuant to a letter agreement substantially in form and substance as the document set forth on Exhibit D attached hereto (the "Consent Request Letter"). Any material amendments, modifications or changes to the Consent Request Letter that adversely affect Buyer shall be approved by Buyer, which approval Buyer may withhold in its reasonable discretion. Parent and Seller shall, on a reasonably timely basis, inform Buyer of the status of the Required Consent process, and each party agrees to provide a copy to the other party of any written notices received from a Party in Interest from and after the date hereof until 12 months after the Closing.
(b) Seller may not offer any material leasehold modifications or other concessions to landlords in connection with the Required Consent process that adversely affect Buyer without Buyer's consent, which consent Buyer may withhold in its discretion.
(c) Buyer may, at Buyer's discretion and upon two Business Days' notice to Parent, elect to make any payment or accept any leasehold modifications or other concessions to landlords in connection with the Required Consent process; provided that all costs and obligations to Buyer resulting from Buyer's election under this subsection (c) shall be borne solely by Buyer and the provisions of subsection (e) below shall not apply with respect to such payments, modifications or concessions.
(d) If (i) because of a failure to obtain a Required Consent with respect to a Retail Lease, a Party in Interest under a Retail Lease gives notice within 12 months after the Closing and thereafter terminates such Retail Lease, evicts or locks out the Company (or a Subsidiary, as the case may be) or takes any action that results in the inability of the Company (or a Subsidiary, as the case may be) to operate out of the premises under such Retail Lease prior to the expiration of the current term of such Retail Lease (a "Lease Termination") (provided that at the time of such Lease Termination, Buyer, the Company and/or the Subsidiaries as applicable are otherwise in material compliance with all o...
Retail Leases. A certificate of Borrowers signed by an authorized officer of MAGI, setting forth the following information with respect to each Retail Lease: the location of the leased property, the date the leased property was sold by the Borrowers (or by a subsidiary of the Borrowers) to the tenant under the Retail Lease, the name of the tenant (and if the tenant is a business organization, the type of business organization and the state or other jurisdiction where the tenant is organized), the principal terms of the sale (including, without limitation, the sale price and the schedule for the payment of the sale price to the Borrowers), a schedule of the remaining rental and other payments owing (by fiscal year of the Borrowers) under the lease, and the nature and principal terms of the direct or contingent liability of the Borrowers under the lease "Retail Lease" means each lease of real property operated by a third party where the inventory of a Borrower is sold or to be sold, if a Borrower is primarily or secondarily liable for the obligation of the tenant under such lease or has otherwise guaranteed (in whole or in part) the obligations of the tenant under such lease.
Retail Leases. Owner and Manager acknowledge that Mid-America Real Estate Corporation ("Mid-America") and Owner are parties to that certain Leasing Agency Agreement dated March 31, 2003 (the "Agency Agreement"). Owner shall pay all commissions due and payable under the Agency Agreement in accordance with the terms and conditions of the Agency Agreement. Manager shall not be entitled to any commissions in connection with any such Leases. Notwithstanding the foregoing, Manager shall be entitled to receive a commission with respect to any Lease, Expansion or Renewal in the retail portion of the Property if Mid-America is not entitled to a commission for such Lease, Expansion or Renewal under the terms and conditions of the Agency Agreement. Any such commission to Manager shall be determined in accordance with Section 2 of this Commission Schedule; provided, however, that if such Lease is a retail Lease (as opposed to an office Lease), Manager's commission shall be computed using a three percent (3%) commission rate for the entire term of such Lease (up to fifteen years). Manager shall have the right, on Owner's behalf, to terminate or extend the term of the Agency Agreement. SCHEDULE C ANNUAL BUDGETS FOR 2003 - 2004 [INTENTIONALLY OMITTED] SCHEDULE D PERMITTED SERVICES TO TENANTS o After hours dock usage o After hours freight elevator usage o Additional security services o Light bulb/ballast replacements o Locksmith services (keys,lock changes, etc.) o Security access cardkey replacements or additions (beyond initial move-in) o Moving of furniture/equipment or furniture reconfiguration o Delivery assistance o Hanging of pictures/bulletin boards o Installation of shelving or cabinets o Painting services o Carpentry services o Construction services o Property disposal o Day porter services (additional cleaning services) o Telecommunic▇▇▇▇▇/riser services o Additional signage o Additional cleaning services (refrigerator cleaning, microwave cleaning, pantry/kitchen special cleaning, gym/health club cleaning, executive shower cleaning, purchase of additional cleaning or paper products, Saturday or Sunday additional cleaning services, etc.) o Carpet cleaning o Electrical services (outlet installation, dedicated outlet, additional lighting, workstation wiring, etc.) o Supplemental HVAC systems or upgrades/HVAC modifications to provide additional zones o Additional cable television services o Various purchases/installations requested by tenant (examples could include: purchase and ...
Retail Leases. All retail leases, licenses, and other agreements to use or occupy all or any part of the Land or Improvements, together with all amendments thereto for those tenants listed on the Rent Roll attached hereto as Exhibit B-2 attached hereto, and any new Retail Leases entered into after the Effective Date in accordance with this Agreement. Seller Parties. Collectively, (a) Seller, (b) its counsel, (c) Property Manager, (d) any direct or indirect equity owner, officer, director, employee, or agent of Seller, its counsel or Property Manager, and (e) any other entity or individual affiliated or related in any way to any of the foregoing. Service Contracts. The service contracts and equipment leases listed in Exhibit D attached hereto. Termination Surviving Obligations. Buyer’s obligations under Sections 3.1 and 3.2 hereof and Buyer’s and Seller’s obligations under Sections 10 and 14.3 hereof. Title Company. Chicago Title Insurance Company, c/o Fidelity National Title Group, 5▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, Attn: C▇▇▇▇ ▇▇▇▇▇▇▇▇▇ (c▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇). Transaction. The purchase and sale transaction contemplated by this Agreement.
Retail Leases. Owner and Manager acknowledge that Mid-America Real Estate Corporation ("Mid-America") and Owner are parties to that certain Leasing Agency Agreement dated March 31, 2003 (the "Agency Agreement"). Owner shall pay all commissions due and payable under the Agency Agreement in accordance with the terms and conditions of the Agency Agreement. Manager shall not be entitled to any commissions in connection with any such Leases. Notwithstanding the foregoing, Manager shall be entitled to receive a commission with respect to any Lease, Expansion or Renewal in the retail portion of the Property if Mid-America is not entitled to a commission for such Lease, Expansion or Renewal under the terms and conditions of the Agency Agreement. Any such commission to Manager shall be determined in accordance with Section 2 of this Commission Schedule; provided, however, that if such Lease is a retail Lease (as opposed to an office Lease), Manager's commission shall be computed using a three percent (3%) commission rate for the entire term of such Lease (up to fifteen years). Manager shall have the right, on Owner's behalf, to terminate or extend the term of the Agency Agreement.