Source of Rent Payments Sample Clauses

Source of Rent Payments. Sublessee’s obligation hereunder to pay the Rent is a general obligation of Sublessee, but Sublessor agrees that under no circumstances shall Sublessee be required to advance any moneys derived from, nor shall Sublessor have recourse to, any revenues or assets attributable to, or designated by any third party for, any other schools operated by Sublessee or pledged by Sublessee to secure loans to or financings or leases for such other schools. Such moneys, assets and revenues would include income and revenues directly or indirectly derived by Sublessee’s operation of the other schools, including without limitation per pupil revenues and other funding received from the State of California or by virtue of the Charter granted to Sublessee for the other schools and all gifts, grants, bequests and contributions (including income and profits therefrom) to the extent specifically restricted by the donor or maker thereof to the other schools and such moneys would also include net insurance or condemnation proceeds received or payable to Sublessee on account of damage or destruction of the other school or its property or other loss incurred by Sublessee with respect to its operation of the other school or its property. Nothing contained in this Section 4.8 shall be construed to release Sublessor from the performance of any of the agreements on its part herein contained, and in the event Sublessor shall fail to perform any such agreements on its part, Sublessee may institute such action against Sublessor as Sublessee may deem necessary to compel performance so long as such action does not abrogate the obligations of Sublessee contained in the first sentence of this Section 4.8. Sublessee may, however, at Sublessee’s own cost and expense and in Sublessee’s own name or in the name of Sublessor prosecute or defend any action or proceeding or take any other action involving third persons which Sublessee deems reasonably necessary in order to secure or protect Sublessee’s right of possession, occupancy and use hereunder, and in such event Sublessor hereby agrees to cooperate fully with Sublessee and to take such action necessary to effect the substitution of Sublessee for Sublessor in such action or proceeding if Sublessee shall so request.
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Source of Rent Payments. (a) Notwithstanding anything in this Lease to the contrary, Xxxxxx's obligation to pay the Rent and the other monetary payments provided for in this Lease to any person or entity, including the Lessor, Lender, or Bond Trustee, and their respective successors and assigns, is limited to, and shall not exceed, Gross School Revenues (as defined in Exhibit C), if any, and under no circumstances shall Lessee be required to advance any moneys derived from any source of income other than, or pay Rent or any other monetary obligation under this Lease which is in excess of, the Gross School Revenues, nor shall any other funds or property of Lessee be liable for the payment of Rent or any other monetary obligation under this Lease, and such persons and entities shall look exclusively thereto for satisfaction of any claims hereunder. Lessor covenants that it shall not take recourse against Lessee with respect to the failure by Lessee to make any payment under this Lease except recourse to the Gross School Revenues.

Related to Source of Rent Payments

  • Payment of Rent (19) If the tenant is required to pre-pay rent in advance it should be selected. This is common with tenants with no or bad credit history. Section XIII.

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