Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 3 contracts
Samples: Master Lease (Omega Healthcare Investors Inc), Master Lease Agreement (Alterra Healthcare Corp), Master Lease (Omega Healthcare Investors Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee Tenant shall not sublet such the applicable Leased Property on any basis such that the rental to be paid by the sublessee subtenant thereunder would be based, in whole or in part, on either (ia) the income or profits derived by the business activities of the sublesseesubtenant, or (iib) any other formula such that any portion of the sublease rental received by Lessor Landlord would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number.
Appears in 3 contracts
Samples: Master Lease (Monarch Properties Inc), Master Lease (Integrated Health Services Inc), Master Lease (Monarch Properties Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a No sublease of a any Leased Property is permitted, except as specifically set forth in this Article. If a sublease of any Leased Property is permitted under this Article, nonetheless, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "“rents from real property" ” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 2 contracts
Samples: Master Lease Agreement (Omega Healthcare Investors Inc), Master Lease Agreement (Sun Healthcare Group Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a the Leased Property is permitted, Lessee Tenant shall not sublet such the Leased Property on any basis such that the rental to be paid by the sublessee subtenant thereunder would be based, in whole or in part, on either (ia) the income or profits derived by the business activities of the sublesseesubtenant, or (iib) any other formula such that any portion of the sublease rental received by Lessor Landlord would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number.
Appears in 2 contracts
Samples: Lease (Monarch Properties Inc), Lease Agreement (Monarch Properties Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a No sublease of a any Leased Property is permitted, except as specifically set forth in attached Exhibit G. If a sublease of any Leased Property is permitted under attached Exhibit G, nonetheless, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "“rents from real property" ” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 2 contracts
Samples: Master Lease Agreement (Sun Healthcare Group Inc), Master Lease Agreement (Omega Healthcare Investors Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ia) the income or profits derived by the business activities of the sublessee, or (iib) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "“rents from real property" ” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number.
Appears in 2 contracts
Samples: Master Lease (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived 62 69 by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 1 contract
Samples: Master Lease (Advocat Inc)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ia) the income or profits derived by the business activities of the sublessee, or (iib) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number.
Appears in 1 contract
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a No sublease of a any Leased Property is permitted, except as specifically set forth in attached Exhibit G. If a sublease of any Leased Property is permitted under attached Exhibit G, nonetheless, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 1 contract
Sublease Limitation. Anything contained in this Lease to the contrary -------------------- notwithstanding, even if a sublease of a the Leased Property is permitted, Lessee shall not sublet such the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ia) the income or profits derived by the business activities of the sublessee, or (iib) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number.. ARTICLE XXIII
Appears in 1 contract
Samples: Lease (Emeritus Corp\wa\)
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "“rents from real property" ” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 1 contract
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (ia) the income or profits derived by the business activities of the sublessee, or (iib) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "“rents from real property" ” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number. direct, and such payments shall be credited against the amounts owing by Lessee under this Lease.
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Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property the Facility is permitted, Lessee Lessees shall not sublet such the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 1 contract
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee shall not sublet such the applicable Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublessee, or (ii) any other formula such that any portion of the sublease rental received by Lessor would fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph Section shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph Section by number.
Appears in 1 contract
Sublease Limitation. Anything contained in this Lease to the contrary notwithstanding, even if a sublease of a Leased Property is permitted, Lessee Tenant shall not sublet such Leased Property on any basis such that the rental to be paid by the sublessee subtenant thereunder would be based, in whole or in part, on either (i) the income or profits derived by the business activities of the sublesseesubtenant, or (ii) any other formula such that any portion of the sublease rental received by Lessor Landlord would fail to qualify as "“rents from real property" ” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto. The parties agree that this paragraph shall not be deemed waived or modified by implication, but may be waived or modified only by an instrument in writing explicitly referring to this paragraph by number.
Appears in 1 contract
Samples: Master Lease (Diversicare Healthcare Services, Inc.)