Sale of Land by Lessor Sample Clauses

Sale of Land by Lessor. (a) Lessor may not sell, transfer or otherwise dispose of any Land subject to an SLLA hereunder other than to (i) Lessee, (ii) subject to compliance with Section 21.1(b), any other Person which is not a direct competitor of the Lessee (a “Third Party Buyer”), or (iii) subject compliance with Section 21.1(c), any Affiliate of Lessor (a “Lessor Group Member”). (b) Subject to the other provisions of this Section 21.1, Lessor may sell, transfer or otherwise dispose of Land subject to an SLLA hereunder to a Third Party Buyer only if it first makes an offer in writing (an “Offer”) to sell such Land to Lessee or a purchaser designated by Lessee in accordance this Section 21.1(b). An Offer shall (i) identify the Land proposed to be sold by Lessor (ii) set forth the proposed consideration for such Land, and (iii) set forth all of the other terms and conditions of the Offer. The Offer shall remain open for a period of not less than ninety (90) days from the date of the Offer (the “Acceptance Period”). During the Acceptance Period, the Lessee or a purchaser designated by the Lessee may accept the Offer as to some or all of the Land which are the subject of the Offer by way of written notice (the “Acceptance Notice”) to Lessor. If Lessee accepts the Offer during the Acceptance Period, within ninety (90) days of Lessee’s acceptance of the Offer (or such other date agreed by the Parties), Lessor shall sell and transfer to Lessee or a purchaser designated by Lessee the Land as to which Lessee accepted the Offer and Lessee shall purchase such Land, in each case on the terms and for the consideration set forth in the Offer, provided that Lessee shall have no obligation to complete the sale and purchase of such Land and make payment for the Land unless completion occurs in relation to all of the Land as to which Lessee accepted the Offer. The Parties shall use reasonable efforts to cooperate with each other to consummate such sale and purchase within the time period specified therefor. The Offer shall be deemed declined if Lessor does not receive an Acceptance Notice during the Acceptance Period. Upon the Offer being declined or being deemed to have been declined, Lessor may sell, subject to the provisions of this Article 21, some or all of the Land subject to the Offer which has been declined (or deemed to have been declined) by Lessee to a Third Party Buyer on terms and conditions not more favorable to the Third Party Buyer than those contained in the Offer, provided that...
AutoNDA by SimpleDocs

Related to Sale of Land by Lessor

  • Release of Landlord If, during the term of this Lease, Landlord shall sell its interest in the Building or Complex of which the Leased Premises form a part, or the Leased Premises, then from and after the effective date of the sale or conveyance, Landlord shall be released and discharged from any and all obligations and responsibilities under this Lease, except those already accrued.

  • Carried by Lessor Lessor shall maintain liability insurance as described in Paragraph 8.2(a), in addition to, and not in lieu of, the insurance required to be maintained by Lessee. Lessee shall not be named as an additional insured therein.

  • Carried by Lessee Lessee shall obtain and keep in force during the term of this Lease a Commercial General Liability policy of insurance protecting Lessee and Lessor (as an additional insured) against claims for bodily injury, personal injury and property damage based upon, involving or arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto. Such insurance shall be on an occurrence basis providing single limit coverage in an amount not less than $1,000,000 per occurrence with an "Additional Insured-Managers or Lessors of Premises" Endorsement and contain the "Amendment of the Pollution Exclusion" for damage caused by heat, smoke or fumes from a hostile fire. The policy shall not contain any intra-insured exclusions as between insured persons or organizations, but shall include coverage for liability assumed under this Lease as an "insured contract" for the performance of Lessee's indemnity obligations under this Lease. The limits of said insurance required by this Lease or as carried by Lessee shall not, however, limit the liability of Lessee nor relieve Lessee of any obligation hereunder. All insurance to be carried by Lessee shall be primary to and not contributory with any similar insurance carried by Lessor, whose insurance shall be considered excess insurance only.

  • Use of Leased Property Xxxxxx agrees to use the Leased Property only as residence. Xxxxxx agrees to obey all federal, state and local laws and regulations when using the Leased Property. Xxxxxx agrees not to store any flammable or dangerous things in or around the Leased Property. Xxxxxx agrees not to do anything in or around the Leased Property, which could harm anyone or damage any property. Xxxxxx agrees that Tenant will not allow more than one person per bedroom to live in the Leased Property without the written permission of Landlord. The fact that Tenant may have conflict with a roommate will not act as grounds to terminate this Lease. In the event that Xxxxxx is arrested for or charged with any crime (other than a traffic related offense not involving illegal or controlled substances) during the term of the Lease, and/or Landlord is presented with evidence of activities of Tenant which shall constitute a nuisance or a threat to Landlord, other tenants, the Leased Property or the development, Landlord shall have the right to evict Tenant from the Leased Property.

  • Conveyance by Lessor Lessor may assign this Lease to any purchaser of the Leased Property. If Lessor or any successor owner of the Leased Property conveys the Leased Property in accordance with the terms hereof other than as security for a debt, and the grantee or transferee of the Leased Property expressly assumes all obligations of Lessor hereunder arising or accruing from and after the date of such conveyance or transfer, Lessor or such successor owner, as the case may be, shall thereupon be released from all future liabilities and obligations of Lessor under this Lease arising or accruing from and after the date of such conveyance or other transfer as to the Leased Property and all such future liabilities and obligations shall thereupon be binding upon the new owner.

  • SALE BY LANDLORD In event of a sale or conveyance by Landlord of the Building, the same shall operate to release Landlord from any future liability upon any of the covenants or conditions, expressed or implied, contained in this Lease in favor of Tenant, and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this Lease. Except as set forth in this Article 24, this Lease shall not be affected by any such sale and Tenant agrees to attorn to the purchaser or assignee. If any security has been given by Tenant to secure the faithful performance of any of the covenants of this Lease, Landlord may transfer or deliver said security, as such, to Landlord’s successor in interest and thereupon Landlord shall be discharged from any further liability with regard to said security.

  • By Lessee Lessee shall indemnify the Lessor, the Lessor’s Representative, and their Board members, directors, officers, employees, agents and authorized volunteers (the “Lessor Indemnitees”) against and will hold and save them and each of them harmless from any and all actions, claims, damages to persons or property, penalties, obligations or liabilities that may be asserted or claimed by any person, firm entity, corporation, political subdivision or other organization (collectively “Losses”) arising out of or in connection with the installation, operation or activities of Lessee, its agents, employees, subcontractors or invitees, provided for herein, whether or not there is concurrent passive or active negligence on the part of the Lessor Indemnitees for injury to or death of persons, including, but not limited to, employees of Lessee or Lessor, and damage or destruction of property, including, but not limited to, property of Lessee, any utility company or Lessor, or other loss or damage incurred by Lessor, but only to the extent caused by (A) the negligence, fraud or willful misconduct of Lessee, its agents, officers, directors, employees or contractors on or at the Premises or the Sites in connection with this Agreement or (B) the material breach by Lessee of any of its obligations under this Agreement, but excluding such actions, claims, damages to persons or property penalties, obligations or liabilities arising from the sole established negligence, fraud or willful misconduct of the Lessor, the Lessor’s Representative, or those who are directly responsible to them. In connection therewith: (a) Lessee will defend any action or actions filed in connection with any of said claims, damages, penalties, obligations or liabilities and will pay all costs and expenses, including attorney's fees incurred in connection therewith; and (b) Lessee will promptly pay any judgment rendered against Lessee, and/or the Lessor Indemnitees covering such claims, damages, penalties, obligations and liabilities arising out of or in connection with such installation, operations, or activities of Lessee hereunder and Xxxxxx agrees to save and hold the Lessor Indemnitees harmless therefore. A. In the event the Lessor Indemnitees are made a party to any action or proceeding filed or prosecuted against Lessee for such damages or other claims arising out of or in connection with the installation, or operation or activities of Lessee hereunder, Xxxxxx agrees to pay to the Lessor Indemnitees any and all costs and expenses incurred by the Lessor Indemnitees in such action or proceeding together with reasonable attorney’s fees and expert witness fees and other litigation related expenses.

  • Transfer of Landlord’s Interest Tenant acknowledges that Landlord has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees to look solely to such transferee for the performance of Landlord’s obligations hereunder after the date of transfer and such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Landlord, including the return of any Security Deposit, and Tenant shall attorn to such transferee.

  • Exemption of Landlord from Liability Landlord shall not be liable for any damage or injury to the person, business (or any loss of income therefrom), goods, wares, merchandise or other property of Tenant, Tenant's employees, invitees, customers or any other person in or about the Property, whether such damage or injury is caused by or results from: (a) fire, steam, electricity, water, gas or rain; (b) the breakage, leakage, obstruction or other defects of pipes, sprinklers, wires, appliances, plumbing, air conditioning or lighting fixtures or any other cause; (c) conditions arising in or about the Property or upon other portions of the Project, or from other sources or places; or (d) any act or omission of any other tenant of the Project. Landlord shall not be liable for any such damage or injury even though the cause of or the means of repairing such damage or injury are not accessible to Tenant. The provisions of this Section 6.02 shall not, however, exempt Landlord from liability for Landlord's gross negligence or willful misconduct.

  • By Lessor To the extent permitted by state and federal law and its charter or by-laws, Lessor shall forever protect, save and keep Lessee and its permitted successors and assigns harmless and indemnify Lessor against and from any and all claims, demands, losses, costs, damages, suits, judgments, penalties, expenses and liabilities or any kind or nature whatsoever, including reasonable attorneys' fees, arising directly or indirectly out of (i) the willful misconduct of Lessor, its agents or employees, in connection with the performance of this Agreement; (ii) any programming transmitted by Lessor during any of Lessor's Airtime.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!