Substitution of Leased Property Sample Clauses

Substitution of Leased Property. Notwithstanding anything to the contrary contained in this Lease, in the event of the total destruction of any single Facility, Lessor shall make available to Lessee and add to the Leased Property a facility of equal or approximate value to the destroyed Facility. If necessary, Lessor shall apply insurance proceeds received by it towards the replacement of the destroyed Facility. Lessor may elect to satisfy the foregoing obligation either by purchasing an already existing facility, by constructing a new facility, or otherwise.
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Substitution of Leased Property a. Landlord and Tenant hereby acknowledge and agree that the legal description for that certain real property described under Item 3 and Exhibit “D”, which was attached to, and made a part of the Ground Lease, and under Item 3 on Exhibit “B”, which was attached to, and made a part of the Original Memorandum, is hereby deleted and replaced with the legal description for that certain real property more particularly described in Exhibit “1” attached hereto and incorporated herein by this reference (the “New Third Hotel Site”), and the New Third Hotel Site is hereby substituted for the Third Hotel Site in the Lease. Any reference in the Lease to the Third Hotel Site shall hereafter be deemed to refer to the New Third Hotel Site.
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Substitution of Leased Property. The District shall have, upon the prior written consent of the Certificate Insurer, and is hereby granted, the option at any time and from time to time during the Term of this Lease, to substitute other land, facilities, improvements or other property (“Substitute Leased Property”) for the Leased Property or any portion thereof (“Former Leased Property”), provided that the District shall satisfy all of the following requirements which are hereby declared to be conditions precedent to such substitution:
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Substitution of Leased Property. So long as no Event of Default or Event of Nonappropriation shall have occurred and be continuing, the City may, upon prior written consent of the Lender, substitute any improved or unimproved real estate (collectively, the “Replacement Property”), for any Leased Property then subject to the Site Lease and this Lease, upon receipt by the Lender of a written request of the Authorized City Representative requesting such release and substitution, provided that:
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Substitution of Leased Property. (i) The County shall have, and is hereby granted, the option at any time and from time to time during the Term of this Lease, to substitute other land, facilities, improvements or other property (a “Substitute Property”) for the Leased Property or any portion thereof (a “Former Property”), provided that the County shall satisfy all of the following requirements which are hereby declared to be conditions precedent to such substitution:
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Substitution of Leased Property. From time to time, the District may authorize the Substitution of alternate real property or equipment for the Leased Property, the Removal of real property or equipment from the Leased Property or the addition of real property or equipment to the Leased Property pursuant to the Lease, with the prior written consent of the Certificateholder, only by providing the Trustee with a supplement to the Lease and the satisfaction of certain conditions contained in Section 3.8
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Substitution of Leased Property. In addition to certain rights of substitution set forth in Exhibit F-1, Special Stipulations Concerning Seismic Compliance, with the prior written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed, Tenant may substitute the Property and Existing Hospital Facility (in this Exhibit F-4, such property herein, the “Relinquished Property”) in exchange for a similar sale leaseback transaction for other property or properties owned by the Tenant or an affiliate of Tenant (herein, a “Substitute Property”), provided that:
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Related to Substitution of Leased Property

  • Condition of Leased Premises Tenant hereby acknowledges that Xxxxxx has examined the leased premises prior to the signing of this Lease, or knowingly waived said examination. Tenant acknowledges that Tenant has not relied on any representations made by Landlord or Landlord’s agents regarding the condition of the leased premises and that Tenant takes premises in its AS-IS condition with no express or implied warranties or representations beyond those contained herein or required by applicable Georgia law. Xxxxxx agrees not to damage the premises through any act or omission, and to be responsible for any damages sustained through the acts or omissions of Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests. If such damages are incurred, Tenant is required to pay for any resulting repairs at the same time and in addition to the next month’s rent payment, with consequences for non-payment identical to those for non- payment of rent described herein. At the expiration or termination of the Lease, Tenant shall return the leased premises in as good condition as when taken by Tenant at the commencement of the lease, with only normal wear-and-tear excepted. Modification Of This Lease Any modification of this lease shall not be binding upon Landlord unless in writing and signed by Landlord or Landlord’s authorized agent. No oral representation shall be effective to modify this Lease. If, as per the terms of this paragraph, any provision of this lease is newly added, modified, or stricken out, the remainder of this Lease shall remain in full force and effect.

  • Destruction of Leased Premises In the event of damage or destruction of the Leased Premises by fire or any other casualty, this Lease shall not be terminated, but the Leased Premises shall be promptly and fully repaired and restored as the case may be by the Board to the extent of the Board’s insurance proceeds, provided such repair and or restoration returns the Leased Premises to substantially the same condition prior to such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Board. It is agreed that in the event of damage or destruction, this Lease shall continue in full force and effect, except for abatement of rent as provided herein. If the condition is such as to make the entire Leased Premises untenantable, then the rent which the County is obligated to pay hereunder shall xxxxx as of the date of the occurrence until the Leased Premises have been fully restored by the Board. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated and credited or paid to the appropriate Party. If the Leased Premises are partially damaged or destroyed, then during the period that the County is deprived of the use of the damaged portion of said Leased Premises, the County shall only be required to pay rent prorated to reflect that portion of the Leased Premises which continues to be tenantable and appropriate for the County’s use of the Leased Premises. The Board will proceed at its expense to the extent of its insurance proceeds, and as expeditiously as may be practicable to repair the damage. Notwithstanding any of the foregoing, the Board shall not be required to expend any funds, other than insurance proceeds, to repair the Leased Premises which have been damaged by casualty. In the event that the Board elects not to repair the damage because of a lack of insurance proceeds, or because the damages are so extensive to make repair economically unfeasible, in which event and at the Board’s sole option, the Board may terminate this Lease forthwith, by giving the County a written notice of its intention to terminate within sixty (60) days after the date of the casualty. No compensation, or claim, or diminution of rent other than as described above will be allowed or paid, by the Board, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the Leased Premises or any portion of the Building of which they are a part.

  • Surrender of Leased Premises Upon any termination of this Lease, whether by lapse of time, cancellation pursuant to an election provided for herein, forfeiture, or otherwise, Tenant shall immediately surrender possession of the Leased Premises and all buildings and improvements on the same to Landlord in good and tenantable repair, reasonable wear and damage from fire or other casualty or peril excepted, and shall surrender all keys for the Leased Premises to Landlord at the place then fixed for the payment of rent and shall inform Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises. At any time during the ten (10) days before the termination date of this Lease, Tenant, if not in default hereunder at such time, shall have the right to remove, and at the end of the term, if directed to do so by Landlord, shall remove from the Leased Premises all furniture, furnishings, signs, and equipment then installed or in place in, on or about the Leased Premises; provided, however, Tenant shall, and it covenants and agrees to, make all repairs to the Leased Premises required because of such removal. If any of such property shall remain on the Leased Premises after the end of the term hereof, such property shall be and become the property of Landlord without any claim therein of Tenant. Landlord may direct Tenant to remove such property, in which case Tenant Upon termination of this Lease, Tenant shall peaceably surrender the Leased Premises, including all fixtures and tenant improvements, in a neat and broom clean condition, and Tenant shall repair any holes or openings made by Tenant in the walls, roof or floor of the building, remove any protuberance and perform any maintenance or repairs required of Tenant by this Lease. If directed to do so by Landlord, Tenant shall also remove any improvements, additions or alterations made to the Leased Premises by Tenant even though such improvements by the terms of this Lease become a part of the Leased Premises.

  • Construction of Lease This Lease has been prepared by Landlord and its professional advisors and reviewed by Tenant and its professional advisors. Landlord, Tenant, and their advisors believe that this Lease is the product of all their efforts, that it expresses their agreement, and agree that it shall not be interpreted in favor of either Landlord or Tenant or against either Landlord or Tenant merely because of their efforts in preparing it.

  • Leased Property Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord's right, title and interest in and to all of the following (collectively, the "Leased Property"):

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