RPA Clause Samples

RPA. The Borrower will, at its sole expense, timely and fully perform and comply with all provisions, covenants and other promises required to be observed to be observed by it under the RPA, maintain the RPA in full force and effect, enforce the RPA in accordance with its terms, take all such action to such end as may be from time to time reasonably requested by the Lender, and make to any party to the RPA such demands and requests for information and reports or for action as the Borrower is entitled to make thereunder and as may be from time to time reasonably requested by the Lender. The Borrower shall not permit any waiver, modification or amendment of the RPA. The Borrower shall not permit any other Person to become a "Provider" under the RPA or permit the removal of any "Provider" thereunder pursuant to Section 5.19 of the RPA without the written consent of the Lender (which consent, unless an Event of Default is continuing hereunder, shall be governed by the conditions set forth in Section 5.19 of the RPA).

RPA. The Borrower will not declare the "Termination Date" (as defined by the RPA) under the RPA to have occurred without the prior written consent of the Agent. The Borrower will not agree to modify or amend, or waive any Termination Event or Potential Termination Event under, the RPA, without the prior written consent of the Agent.

RPA. (1) When any land under the provisions of this Act is intended to be leased or demised for a life or lives or for any term of years exceeding three years, the proprietor shall execute a lease in the approved form. If the lease is for a period of less than three years, it may be registered and will become indefeasible under s 42 (▇▇▇▇▇▇▇▇▇ v ▇▇▇▇▇▇). Short term leases, s 42(1)(d) a) Less than three years including option to renew b) Is in possession or entitled to immediate possession c) Purchaser has notice (actual or constructive) IMPLIED LEASES An implied periodic tenancy will arise where the tenant pays rent within a particular period, but the lease is not in writing. Unregistered but LEGAL. No writing required. Governed by s 127 CA s 127 CA (1) No tenancy from year to year shall, after the commencement of this Act, be implied by payment of rent; if there is a tenancy, and no agreement as to its duration, then such tenancy shall be deemed to be a tenancy determinable at the will of either of the parties by one month’s notice in writing expiring at any time. (2) This section shall not apply where there is a tenancy from year to year which has arisen by implication before the commencement of this Act. Will also be implied per s 23D(2) CA where less than three years with option to renew and in possession, written or oral with best market rent available and not involve a lump sum payment. s 23C(1) - Contract is enforceable, final - In writing s 54A or part performance s 23E(d)(1) - Equity would grant specific performance (discretionary) - Declaration o If you have an equitable lease, equity will treat the parties as having a lease o Will order the parties to enter and register a legal lease o This will restrain the Landlord from exercising the right to terminate