Single Lease. Tenant hereby acknowledges that the agreement between Landlord and Tenant to treat this Lease as single lease in all respects was and is of primary importance to Landlord, and Landlord would not have entered into this Lease without there being such an agreement and such treatment of this Lease. All rights and obligations under this Lease relating to the Leased Properties shall apply to each Leased Property and any default under this Lease pertaining to a single Leased Property or to all of the Leased Properties or any portion thereof shall be an Event of Default pertaining to all of the Properties and each of the Leased Properties. Without limiting the generality of the foregoing, the parties hereto acknowledge that, notwithstanding any references herein to any individual Leased Property and notwithstanding the possibility that certain individual Leased Properties may be deleted herefrom pursuant to the express provisions of this Lease under certain limited circumstances, the parties hereto expressly intend and agree that this Lease is not divisible and shall be treated as a single lease for all purposes whatsoever (including, without limitation, in the context of Tenant's attempted rejection, assumption and/or assignment of this Lease in any bankruptcy or other insolvency proceeding affecting any Tenant, in which case the parties hereto intend for such rejection to terminate this Lease with respect to all of the Leased Properties or such assumption to apply with respect to all of the Leased Properties, i.e., all but not less than all of the Leased Properties). This Lease does not constitute, and may not be enforced or treated as, a separate lease for any individual Leased Property.
Appears in 3 contracts
Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Provident Senior Living Trust), Property Lease Agreement (Brookdale Senior Living Inc.)
Single Lease. Tenant hereby acknowledges that the agreement between Landlord and Tenant to treat this Lease as single lease in all respects was and is of primary importance to Landlord, and Landlord would not have entered into this Lease without there being such an agreement and such treatment of this Lease. All rights and obligations under this Lease relating to the Leased Properties Premises shall apply to each Leased Property and any default under this Lease pertaining to a single Leased Property or to all of the Leased Properties Premises or any portion thereof shall be an Event of Default pertaining to all of the Properties Premises and each of the Leased PropertiesProperty, subject only to Section 17.2.2 above. Without limiting the generality of the foregoing, the parties hereto acknowledge that, notwithstanding any references herein to any individual Leased Property and notwithstanding the possibility that certain individual Leased Properties may be deleted herefrom pursuant to the express provisions of this Lease under certain limited circumstances, the parties hereto expressly intend and agree that this Lease is not divisible and shall be treated as a single lease for all purposes whatsoever (including, without limitation, in the context of Tenant's ’s attempted rejection, assumption and/or assignment of this Lease in any bankruptcy or other insolvency proceeding affecting any Tenant, in which case the parties hereto intend for such rejection to terminate this Lease with respect to all of the Leased Properties entire Premises or such assumption to apply with respect to all of the Leased Propertiesentire Premises, i.e., all but not less than all of the Leased Properties). Notwithstanding anything contained in this Section 28 or elsewhere in this Lease to the contrary, the existence of Tenant’s Proportionate Share and the allocations of Rent described in Section 3.1.2 hereof and elsewhere in this Lease do not change the joint and several nature of each Tenant’s obligation to pay all Rent owing hereunder as provided in Section 1.3 above. This Lease does not constitute, and may not be enforced (except at Landlord’s sole discretion in connection with a Limited Termination Election) or treated as, a separate lease for any individual Leased Property. Notwithstanding the foregoing, the right of possession and leasehold right granted to each Tenant hereunder is limited as provided in Section 1.3 above.
Appears in 1 contract
Samples: Master Lease Agreement (Assisted Living Concepts Inc)
Single Lease. Tenant hereby acknowledges that the agreement between Landlord and Tenant to treat this Lease as single lease in all respects was and is of primary importance to Landlord, and Landlord would not have entered into this Lease without there being such an agreement and such treatment of this Lease. All rights and obligations under this Lease relating to the Leased Properties shall apply to each Leased Property and any default under this Lease pertaining to a single Leased Property or to all of the Leased Properties or any portion thereof shall be an Event of Default pertaining to all of the Properties and each of the Leased Properties. Without limiting the generality of the foregoing, the parties hereto acknowledge that, notwithstanding any references herein to any individual Leased Property and notwithstanding the possibility that certain individual Leased Properties may be deleted herefrom pursuant to the express provisions of this 57 Lease under certain limited circumstances, the parties hereto expressly intend and agree that this Lease is not divisible and shall be treated as a single lease for all purposes whatsoever (including, without limitation, in the context of Tenant's attempted rejection, assumption and/or assignment of this Lease in any bankruptcy or other insolvency proceeding affecting any Tenant, in which case the parties hereto intend for such rejection to terminate this Lease with respect to all of the Leased Properties or such assumption to apply with respect to all of the Leased Properties, i.e., all but not less than all of the Leased Properties). This Lease does not constitute, and may not be enforced or treated as, a separate lease for any individual Leased Property.
Appears in 1 contract
Samples: Property Lease Agreement (Brookdale Senior Living Inc.)
Single Lease. Tenant hereby acknowledges that the agreement between Landlord and Tenant to treat this Lease as single lease in all respects respects, was and is of primary importance to Landlord, and Landlord would not have entered into this Lease without there being such an agreement and such treatment of this Lease. All rights and obligations under this Lease relating to the Leased Properties Premises shall apply to each Leased Property and any default under this Lease pertaining to a single Leased Property or to all of the Leased Properties Premises or any portion thereof shall be an Event of Default pertaining to all the Premises; provided, however, that in connection with any Event of the Properties and each Default, Landlord may elect to exercise its rights only as to one or more of the Leased Properties. Without limiting the generality of the foregoing, the parties hereto acknowledge that, that this Lease constitutes a single lease of the Premises and is not divisible notwithstanding any references herein to any individual Leased Property and notwithstanding the possibility that certain individual Leased Properties may be deleted herefrom pursuant to the express provisions of this Lease under certain limited circumstances, the . The parties hereto expressly intend and agree that this Lease is not divisible and shall Lease, notwithstanding the possibility that certain individual Leased Properties may be deleted herefrom under certain limited circumstances expressly provided for in this Lease, be treated as a single lease for all purposes whatsoever whatsoever, including Extended Terms, any assignment of the leasehold estate by Tenant (includingas approved by Landlord), without limitation, and in the context of Tenant's attempted rejection, assumption and/or assignment of this Lease in any bankruptcy or other insolvency proceeding affecting any Tenant, in which case the parties hereto intend for such rejection to terminate this Lease with respect to all of the Leased Properties entire Premises or such assumption to apply with respect to all of the Leased Propertiesentire Premises, i.e., all but not less than all of the Leased Properties. Notwithstanding anything contained herein to the contrary, the existence of Tenant's Proportionate Share and the allocation of Rent described in Section 3.1.2 hereof and elsewhere does not change the joint and several nature of each Tenant's obligation to pay Rent hereunder (it being acknowledged that each Tenant shall be jointly and severally liable for any and all obligations of each other Tenant hereunder, including, but not limited to, each individual Tenant's obligation to pay Rent hereunder). This Lease does not constitute, and may not be enforced (except at Landlord's sole discretion in connection with a Limited Termination Election) or treated as, a separate lease for any individual Leased Property. Notwithstanding the foregoing, the right of possession and leasehold right granted to each Tenant hereunder is limited to the applicable Facility operated by such Tenant as specified on Schedule 1 attached hereto and made a part hereof and the Leased Property on which such Facility is located.
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)