Separate Leases Sample Clauses

The Separate Leases clause establishes that each lease agreement within a multi-lease arrangement is treated as an independent contract. In practice, this means that the rights and obligations of the parties under one lease are not affected by the performance or breach of another lease, even if the leases are for units within the same property or are signed simultaneously. This separation ensures that issues such as default, termination, or enforcement are handled on a per-lease basis, thereby isolating risk and preventing problems in one lease from impacting others.
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Separate Leases. At any time during the Term of this Lease, Lessor may require that Lessee enter into distinct leases on identical terms and conditions as are contained in the Lease, as amended by this Fifth Amendment (except for such terms as would become unnecessary as a result of the separation of the lease of the Premises into distinct leases), pursuant to which the Original Promises, the 404 ▇. ▇▇▇▇▇▇▇▇ ▇▇▇mises and/or the 410 ▇. ▇▇▇▇▇▇▇▇ ▇▇▇mises each would be the subject of a separate and distinct lease (except that the 404 ▇. ▇▇▇▇▇▇▇▇ ▇▇▇mises and the 410 ▇. ▇▇▇▇▇▇▇▇ ▇▇▇mises may be combined into one lease).
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Separate Leases. At Tenant’s request, Landlord agrees to execute and deliver separate and independent leases for one or more of the Properties, containing terms and provisions consistent with this Lease, with appropriate prorations and adjustments, including without limitation, an adjustment in Tenant’s rental obligations for a particular Property, but in no event shall Landlord be required to comply with more than one such request for each Property during the term of this Lease.
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Separate Leases. Tenant agrees to divide this Lease into two leases, one for C Premises and one for D Premises at anytime Landlord so requests. Landlord agrees to pay the reasonable out-of-pocket costs and expenses of Tenant, including reasonable attorneys’ fees and expenses, in excess of $15,000 incurred solely in connection with dividing the Lease, and Tenant shall pay the balance of such costs and expenses.
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Separate Leases. Upon written request from Landlord to Tenant, Tenant will enter into a separate lease for each of 40 VSP and 50 VSP if Landlord represents to Tenant that separate leases are reasonably required in order to accommodate the sale or refinancing of either 40 VSP or 50 VSP, or if Tenant exercises the Option to Extend Term set forth in Section 28 of the Lease for either the 40 VSP Space but not the 50 VSP Space, or for other similar business purposes. The separate leases shall fairly represent the provisions of the Lease applicable to 40 VSP and 50 VSP, and provide an allocation of 90% of the Security Deposit to 40 VSP and 10% of the Security Deposit to 50 VSP; provided, however, that if Tenant subsequently leases additional space in 50 VSP, and the Security Deposit is increased, Landlord may modify the 10%/90% allocation by written notice to Tenant.
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Separate Leases. Lessor and Lessee hereby acknowledge that the Land and the Building will be leased under separate leases. This Lease is the Land Lease. For purposes of this Lease only (and not for purposes of the other Operative Documents), the term ALeased Property@ refers only to the Land. Lessee agrees that any event giving rise to a termination of this Lease, including an Event of Loss and an Event of Taking, shall be deemed to give rise to a termination of the Building Lease as well, and that each option to be exercised at the end of the Lease Term hereunder, including the Purchase Option, the Surrender Option, the Remarketing Option and the renewal option must be exercised simultaneously with the same such option under the Building Lease.
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Separate Leases. Landlord may elect, by delivery of written notice to Tenant after receipt of Tenant's Election Notice, to lease the First Right Space to Tenant pursuant to a separate Lease, on all of the terms and conditions, and in the form, of this Lease, but as modified consistent with this Paragraph 44. Tenant shall execute and deliver any documents deemed necessary or desirable by Landlord in connection with such election.
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Separate Leases. Landlord shall have the right to sever and split this Lease into one or more individual leases covering and demising one or more Properties. Tenant shall (at Landlord’s expense) cooperate with Landlord with the foregoing; shall respond reasonably, promptly and in good faith with any Landlord requests to accomplish the foregoing; and shall execute a new lease or leases, and an amendment to this Lease, as shall be required to so sever and split this Lease into one or more separate leases. Any new lease shall be on substantially the same terms and conditions set forth in this Lease, provided, however, that in no event will such severance and split of this Lease into one or more leases reduce or modify any of the obligations and liabilities of Landlord and Tenant hereunder except that (i) Landlord and Tenant, each in their reasonable discretion, shall mutually agree upon the Base Annual Rental as to any Properties covered by such assignment, (ii) there shall be a corresponding reduction in Base Annual Rental payable under this Lease and (iii) each such lease shall not be cross-defaulted with each other lease for any Property (including this Lease).
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Separate Leases. (a) The parties understand that ▇▇▇▇▇▇▇ has recorded CC&Rs and a parcel map to divide the Project into five separate parcels, one for each office building and one for a Common Area encompassing the balance of the Project (including the fitness center) and will record amended CC&Rs. (b) Ariba and ▇▇▇▇▇▇▇ agree to restate the Master Lease as four separate Leases (the "Restatement"), one for each office building with the right to use the Common Area, using commercially reasonable efforts to do so within ninety (90) days following full execution of this Consent to Sublease, subject to the following condition precedent: The Restatement contains the same rights, privileges and obligations as in the current Master Lease, except for any changes to which Ariba has consented which are reasonably necessary or appropriate to convert the present multi-building Ariba Lease into four separate single building leases including reasonable property restrictions placed in connection with the reparcelization; Ariba agrees not to unreasonably delay, condition or withhold such consent. (c) Interwoven agrees to enter into new subleases ("New Subleases") within ninety (90) days after the full execution of this Consent to Sublease, one for each office building in which the Sublease Premises are located, on substantially the same terms as the Sublease provided that the provisions of the Restatement and the New Subleases do not materially and adversely affect Interwoven's material rights and obligations under the Sublease but with reasonable property restrictions placed in connection with the reparcelization. (d) Ariba and ▇▇▇▇▇▇▇ agree to subordinate the Master Lease and Sublease (and the Restatement and New Subleases) to existing and amended CC&Rs recorded against the Project in connection with the reparcelization, using commercially reasonable efforts to do so within ninety (90) days following full execution of this Consent to Sublease, subject to the following condition precedent: The subordination to the CC&Rs shall not affect the rights, privileges and obligations of Ariba under the current Master Lease and Sublease (and the Restatement and New Subleases), except for any provisions to which Ariba has consented which are reasonably necessary or appropriate to accommodate the reparcelization; Ariba agrees not to unreasonably delay, condition or withhold such consent. (e) ▇▇▇▇▇▇▇ and Interwoven also agree to do what is required or reasonably appropriate to subordinate the Sublease...
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Separate Leases. At any time during the Term of this Lease, Lessor may require that Lessee enter into distinct leases on identical terms and conditions as are contained in the Lease, as amended by this Fifth Amendment (except for such terms as would become unnecessary as a result of the separation of the lease of the Premises into distinct leases), pursuant to which the Original Promises, the ▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Premises and/or the ▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Premises each would be the subject of a separate and distinct lease (except that the ▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Premises and the ▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Premises may be combined into one lease).
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Related to Separate Leases

  • New Leases Continue its present rental program and efforts at such Seller’s Property to rent vacant space in accordance with past practices; provided that, without the prior written consent of the Buyer, which consent may be granted or withheld in the Buyer’s sole discretion, such Seller shall not (i) execute any new lease, license or other occupancy agreement, (ii) amend, supplement, terminate, accept the surrender of, renew or otherwise modify any existing Lease, (iii) approve any assignment or sublease of any existing Lease, or (iv) waive any right or obligation thereunder; provided, however, that, in the case of any amendment, supplement, termination, surrender, renewal or modification of any existing Lease as set forth in clause (ii) above, if such existing Lease expressly and specifically sets forth the terms of any such amendment, supplement, termination, surrender, renewal or modification and requires the landlord under the Lease to acknowledge or counter-sign the same, in which case, the Buyer’s consent shall not be required, but Seller shall provide the Buyer with written notice of (and to the extent such amendment, supplement or modification modifies the rental terms of such Lease which rental amount is not specifically stated in such Lease, the Buyer shall have an opportunity to review and comment upon) such amendment, supplement, termination, surrender, renewal or modification at least five (5) Business Days prior to the date of execution. If such Seller enters into any new lease, license or other occupancy agreement, or renews any existing Lease (each such new lease, license, occupancy agreement and renewal, a “New Lease”) after the date hereof in accordance with the terms of this Section 3.2(d), then each such lease, license, occupancy agreement and renewal shall be included in the definition of “Leases” herein and added to Schedule 3.2(c) attached hereto, shall be assigned to and assumed by the Buyer at the Closing in accordance with this Agreement. If the Buyer does not reject or approve a new lease, license, occupancy agreement, renewal or a Lease amendment within five (5) Business Days after receipt of a copy thereof, then the Buyer shall be deemed to have approved such new lease, license, occupancy agreement, renewal or Lease amendment; provided that such notice includes specific reference to this Section 3.3(d) and the deemed approval provision hereof.

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Existing Leases (1) Exhibit "E" sets forth a true, correct and complete list of the Existing Leases for the related Premises and the information with respect to the Existing Leases set forth in Exhibit "E" hereto is true, correct and complete in all material respects, (2) no tenants are entitled to any rebates, rent concessions or free rent except as may be expressly set forth in the Existing Leases or on Exhibit "E", (3) no rents due under any of the Existing Leases are presently assigned, hypothecated or encumbered by Seller, other than in connection with any mortgage encumbering the Premises which shall be satisfied in connection with the closing for the Property in question, (4) there are no unpaid brokerage commissions or unpaid landlord obligations for tenant improvements in connection with the current term of occupancy of tenants under the Existing Leases, (5) no rent under any of the Existing Leases has been prepaid (except for rental for the current month and payments that are required to be made in advance pursuant to the terms and provisions of the Existing Leases and except for prepayments set forth either in the Existing Leases or as set forth on Exhibit "E"), (6) as of the Closing Date no Existing Lease shall be terminated by agreement with the tenant (except by reason of a default by the tenant thereunder or except for notices given to indicate the landlord's intention not to permit the term of the lease to continue or be renewed for an additional term), (7) no tenant has notified Seller in writing of its intent to terminate its lease prior to expiration of the term of such lease, (8) no written notice of any default under the Existing Leases has been given or received by the related Seller, and (9) the copies of the Existing Leases delivered to Buyer are true, correct and complete copies thereof.

  • Tenant Leases Schedule 9.1(v) sets forth a true, correct and complete rent roll with respect to the Tenant Leases. True, correct and complete copies of all Tenant Leases have been provided to Buyer through the Data Room prior to the Effective Date, no Tenant Lease has been amended except as evidenced by amendments similarly provided and each Tenant Lease constitutes the entire agreement between the applicable Seller and the applicable Tenant. Except as set forth on Schedule 9.1(v): (i) to the knowledge of Sellers, each of the Tenant Leases is in full force and effect on the terms set forth therein; (ii) to the knowledge of Sellers, there are no defaults or circumstances which, with the giving of notice, the passage of time or both, would constitute a default by either party under any Tenant Lease; (iii) no Tenant has asserted in writing and, to the knowledge of Sellers, no Tenant has any defense to, offsets or claims against, rent payable by it or the performance of its other obligations under its Tenant Lease; (iv) no Tenant has prepaid any rent or other charges; (v) no Seller has any present or future obligation to provide any Tenant with an allowance to construct, or to construct at its own expense, any tenant improvements except as specifically set forth in each Tenant Lease or in any approved budgets; (vi) no Seller has any present or future obligation to pay any lease commissions with respect to any Tenant Lease and all such lease commissions have been paid in full; (vii) no Tenant has requested in writing a modification of its Tenant Lease, or a release of its obligations under its Tenant Lease or has given any written notice terminating its Tenant Lease, and no Tenant has been released of its obligations under its Tenant Lease; and (viii) no guarantor has been released or discharged, voluntarily or involuntarily, or by operation of law, from any obligation under or in connection with any Tenant Lease.

  • Real Estate Leases The Company Disclosure Statement sets forth a list of (a) all leases and subleases under which the Company or the Subsidiaries is lessor or lessee of any real property together with all amendments, supplements, nondisturbance agreements and other agreements pertaining thereto; (b) all options held by the Company or the Subsidiaries or contractual obligations on the part of the Company or the Subsidiaries to purchase or acquire any interest in real property; and (c) all options granted by the Company or the Subsidiaries or contractual obligations on the part of the Company or the Subsidiaries to sell or dispose of any interest in real property. Except as set forth in the Company Disclosure Statement, as to such leases, subleases and other agreements referred to above, (i) there exists no breach or default, and no event has occurred which with notice or passage of time would constitute such a breach or default or permit termination, notification or acceleration, on the part of the Company or any Subsidiary, or on the part of any other party thereto, and (ii) as of the Effective Time, no material third party consent, approval or authorization shall be required for the consummation of the Merger. To the Company's knowledge, there are no Liens on any of the leasehold interests set forth on the Company Disclosure Statement hereof except for (i) Liens reflected in the balance sheet included in the Company's Form 10-K for the period ended December 31, 1996, (ii) Liens of record consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations on the use of real property which do not materially detract from the value of, or materially impair the use of, such property by the Company or the Subsidiaries in the operation of their respective businesses, (iii) Liens for current Taxes (as defined in Section 3.22(a)), assessments or governmental charges or levies on property not yet delinquent or being contested in good faith and for which appropriate reserves have been established in accordance with GAAP (which contested levies are described on the Company Disclosure Statement), and (iv) Liens imposed by law, such as materialman's, mechanic's, carrier's, workers' and repairmen's Liens securing obligations not yet delinquent or being contested in good faith and for which appropriate reserves have been established in accordance with GAAP or securing obligations not being paid in the ordinary course of business in accordance with customary and commercially reasonable practice. (collectively, "Permitted Liens").