Substitute Lease Sample Clauses

Substitute Lease. This term shall have the meaning set forth in the Contribution and Sale Agreement.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Substitute Lease. An Eligible Lease substituted by Vendor Services for (a) a Liquidated Lease, (b) a Prepaid Lease, (c) a Warranty Lease or (d) an Adjusted Lease, in accordance with Section 9.2.
Sample 1
Substitute Lease. If Tenant shall consummate a lease with Landlord in the building for vacant space at least fifty percent (50%) larger than the premises demised hereunder, Tenant shall have the right to cancel this lease but such cancellation right shall be effective only upon strict compliance with the following terms and conditions:
Sample 1
Substitute Lease. Buyer and Seller shall obtain reasonable assurances that approval of the Substitute Lease (including the Prepaid Rental Amount and timing thereof and an extension of the lease term to eighty-four (84) years) and the Assignment will be obtained prior to Closing by the Spokespersons, and Secretary and the Community. (b) Expiration of the Due Diligence Period. Unless otherwise stated herein, Buyer shall have the right to terminate this Agreement by written notice to the Title Company and Seller at any time prior to the expiration of the Due Diligence Period and upon such termination, Seller and Buyer shall have no further obligations under this Agreement, except for Buyer's obligations that survive termination of this Agreement, and the Deposit, less all escrow cancellation charges and costs, will be released to Seller (if not previously released to Seller). If Buyer does not terminate the Agreement prior to the expiration of the Due Diligence Period, Buyer shall be deemed to have waived its right to terminate during the Due Diligence Period and prior to the Due Diligence Deadline Date, Buyer shall deposit the Additional Deposit into Escrow. The Additional Deposit shall be non-refundable to Buyer. 4.
Sample 1
Substitute Lease. After such contribution and transfer by the Seller to the Trust, all right, title and interest of the Seller in and to each item of Equipment subject to each Lease shall be vested in the Trust.
Sample 1
Substitute Lease. If the Landlord terminates this Lease because ---------------- of a Default of Tenant, the Landlord will, in addition to providing the notices of default and termination as required by this Leasehold Mortgages paragraph ------------------- of this Lease, provide the Leasehold Mortgagee with (i) a Notice that the Lease has been terminated (ii) a statement of all sums which would at that time be due as provided in this Lease except for the termination, and (iii) a statement of all other defaults, if any, known to the Landlord. The Landlord will enter into a Substitute Lease (the "Substitute Lease") of the Premises with the Leasehold Mortgagee for the remainder of the Term, effective as of the date of termination of this Lease, at the Rent (including the Employment Standard) and the other obligations of the Tenant payable and performable to the Landlord and on the terms of this Lease, if the Landlord approves the acquirer of the Leasehold Estate as provided in this
Sample 1
Substitute Lease. In the event Landlord conveys or intends to convey the Development to another entity prior to the expiration of the Lease Term, the Tenant agrees, within thirty (30) days after Landlord’s written request therefor, to simultaneously terminate this Lease and enter into a substitute lease (the “Substitute Lease”) with Landlord’s grantee containing the same terms and conditions as this Lease. Prior to entering into any such Substitute Lease, Landlord shall provide Tenant with a subordination, nondisturbance and attornment agreement from the holder of any mortgage granted by Landlord and constituting a lien on the Leased Premises in form and substance of Exhibit E attached hereto or other form and substance reasonably acceptable to Tenant.
Sample 1
AutoNDA by SimpleDocs

Related to Substitute Lease

  • True Lease Landlord and Tenant intend for this Lease to be a true lease and not a transaction creating a financing arrangement. Each party shall take all reasonable steps to reflect the transaction represented hereby in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment.

  • Ground Lease Reserved.

  • New Lease The Ground Lease requires the ground lessor to enter into a new lease with Lender upon termination of the Ground Lease for any reason, including rejection of the Ground Lease in a bankruptcy proceeding.

  • Lease The Lease Agreement (Federal Express Corporation Trust No. N676FE) dated as of June 15, 1998, as amended and restated as of July 15, 1998, entered into by the Lessor and the Lessee concurrently with the execution and delivery of the Indenture, including, without limitation, supplementation by one or more Lease Supplements entered into pursuant to the applicable provisions of the Lease.

  • Operating Lease The parties hereto intend that this Lease shall be deemed for all purposes to be an operating lease and not a capital lease.

  • 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 Notwithstanding the provisions of Section 4.1 above, Seller has disclosed to Buyer the existence of the following two leases with third party tenants for space in Building A: (a) a lease to the Orange County Bar Association ("OCBA") for 7425 square feet of space on the first floor of Building A for a term that expires on November 30, 2007, with no option to extend (the "OCBA Lease"), and (b) a lease to Xxxxxxx & Associates for 1420 square feet of space on the 4th floor of Building A for a term that expires on May 31, 2006, with no option to extend (the "AA Lease"). The OCBA Lease and the AA Lease are referred to as the "Existing Leases" and the tenants thereunder are referred to as the "Existing Tenants." Prior to the Due Diligence Expiration Date, Seller shall deliver to Buyer a true and complete copy of each of the Existing Leases. As of the Closing and at Seller’s option, either (i) Seller shall have caused the Existing Leases to be terminated and the Existing Tenants to vacate Building A, or (ii) Seller shall remain as the lessor to the Existing Leases as a direct lease between Seller and the Existing Tenants and as a sublease to the Lease for Building A , or (iii) Buyer shall assume the Seller’s interest in the Existing Leases as a direct lease between Buyer and the Existing Tenants. If clause (ii) above is applicable to an Existing Lease, then such Existing Lease shall be considered as a sublease between Seller and the Existing Tenant, and except as provided below, Seller shall be solely responsible for the Existing Lease as a sublease under the Seller Lease for Building A and Buyer shall have no obligations or liabilities in connection with the Existing

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted.

  • Sale or Lease of Assets Within any period of four consecutive fiscal quarters, the Borrower will not, nor will it permit any Subsidiary to, convey, sell, lease, transfer or otherwise dispose of assets, business or operations with a net book value in excess of 25% of Total Assets as calculated as of the end of the most recent such fiscal quarter.

Time is Money Join Law Insider Premium to draft better contracts faster.