The Master Lease. This Sublease is subject to the Master Lease. The provisions of the Master Lease are incorporated into this Sublease as though Sublandlord were the Landlord under the Master Lease and Subtenant were the Tenant under the Master Lease, to the extent any such provisions apply to the Subleased Premises. Capitalized terms used and not otherwise defined herein shall have the meanings assigned thereto in the Master Lease. Subtenant has received a copy of the Master Lease. In the event the Master Lease terminates or expires for any reason, this Sublease shall automatically terminate as well. Without limiting the foregoing in any manner, Subtenant expressly agrees with respect to the Subleased Premises that Tenant’s restoration, maintenance and repair obligations set forth at paragraphs 9 - 10 of the Master Lease shall apply to Subtenant; provided, however, that Subtenant’s obligations hereunder shall be limited to the conditions of the Subleased Premises as they exist on the Sublease Commencement Date. Subtenant further expressly agrees with respect to paragraph 20 of the Master Lease that: (i) Tenant’s indemnity obligations set forth therein shall apply to Subtenant, and Sublandlord shall be an additional indemnitee with respect to such obligations; and (ii) Subtenant shall maintain Commercial General Liability insurance as set forth therein, naming Sublandlord as an additional insured, and Subtenant shall provide a certificate or other proof of such insurance coverage to Sublandlord at its request. Provided further, that such restoration, maintenance, repair and indemnity obligations of Subtenant shall exclude any liability, damage or injury caused by Sublandlord and/or its employees, contractors and agents in connection with Sublandlord’s use of the Retained Premises and/or access to the Subleased Premises pursuant to Paragraph 7 above.
The Master Lease. Tenant acknowledges that Landlord’s right to occupancy and control of portions of the Property has been granted pursuant to a lease (the “Master Lease”) from Master Landlord. The portion of the Premises indicated on Exhibit A is located on the portion of the Property leased from Master Landlord. All of Tenant’s rights hereunder are subject and subordinate to the provisions of the Master Lease. Tenant has received a complete copy of and reviewed the Master Lease. Landlord will promptly forward any future amendments to the Master Lease to Tenant. In the event that the Master Lease shall be terminated for any reason whatsoever, this Lease shall likewise terminate without further liability to either party. During the term of this Lease, Tenant does hereby expressly assume and agree, for the benefit of Landlord and Master Landlord, to perform and comply with and be bound by each and every obligation of and restriction on Landlord under the Master Lease, except for the payment of rent, as such obligations relate to the Premises. The obligations that Tenant has assumed under this Section are hereinafter referred to as “Tenant’s Assumed Obligations.” Tenant shall indemnify and hold Landlord free and harmless from and defend Landlord and all officers, directors, partners, shareholders, agents, employees, representatives and affiliates of Landlord and of any affiliated company or person against all liability, judgments, costs, damages, claims or demands, including reasonable attorneys’ fees, arising out of Tenant’s failure to comply with or perform Tenant’s Assumed Obligations.
The Master Lease. PropCo, as landlord, and SCI, as tenant, entered into that certain Master Lease, dated as of November 7, 2007 (as amended as of the Petition Date, the “Master Lease”), under which SCI leases the real property and improvements occupied by the Leased Hotels. The Master Lease is a “triple net” lease under which taxes, insurance, capital expenditures, and other expenses (in each case as provided therein) are born by SCI. SCI pays rent to PropCo both in the form of cash payments to PropCo and cash payments to third parties on behalf of PropCo, all as required pursuant to the terms of the Master Lease. Payments to be made by SCI to PropCo under the Master Lease are due on the day (the “Rent Payment Date”) that is the third (3rd) business day preceding the fifteenth (15th) day of each calendar month. Such rent payments cover the period from the fifteenth (15th) day of the month in which such rent payment is made through the fourteenth (14th) day of the next month (the “Rental Period”).
The Master Lease. Tenant hereby recognizes that the estate of ---------------- Landlord in the Premises and the Building is that of the "Lessee" under the Master Lease. Tenant agrees that all rights, power, privileges and options granted to Tenant by this Lease are subject to the provisions of the Master Lease and no such right, power, privilege or option may be exercised or enjoyed by Tenant if and to the extent that the exercise or enjoyment thereof would not be permitted by, or would violate the terms of, the Master Lease, and that Tenant will not commit or suffer any act of omission or commission which would violate any of the terms or conditions of the Master Lease.
The Master Lease. This Sublease is subject and subordinate to all the terms and conditions of the Master Lease, and all rights of Sublandlord thereunder. Subtenant acknowledges that it has received a copy of the Master Lease, and is familiar with the terms and conditions thereof. Except with respect to payment of rent under the Master Lease or as otherwise expressly provided in this Sublease, Subtenant hereby agrees to comply in all respects with Sublandlord’s obligations under the Master Lease insofar as the same are applicable to the Subleased Premises. Neither Subtenant nor Sublandlord will cause or allow to be caused any default under the Master Lease. In the event the Master Lease terminates for any reason prior to the expiration or termination of this Sublease, Subtenant shall not have any claim whatsoever against Sublandlord arising or resulting from such termination of the Master Lease unless caused by the actions or omissions of Sublandlord. In the event the Master Lease terminates for any reason prior to the expiration or termination of this Sublease, Sublandlord shall not have any claim whatsoever against Subtenant arising or resulting from such termination of the Master Lease unless caused by the actions or omissions of Subtenant.
The Master Lease. This Sublease is subject to the Master Lease. Except as set forth in this Sublease, the provisions of the Master Lease are applicable to this Sublease as though Sublandlord were the Landlord under the Master Lease and Subtenant were the Tenant under the Master Lease. Subtenant shall not cause or allow to be caused any default under the Master Lease. Subtenant shall defend, indemnify and hold harmless Sublandlord against any loss, liability, and expenses (including attorneys’ fees and costs) arising out of any default under the Master Lease caused by Subtenant, and Sublandlord shall defend, indemnify and hold harmless Subtenant against any loss, liability, and expenses (including reasonable attorneys’ fees and costs) arising out of any default under the Master Lease caused by Sublandlord.
The Master Lease. This Sublease is subject to the Master Lease. The provisions of the Master Lease are applicable to this Sublease as though landlord under the Master Lease were the Sublessor under this Sublease and tenant under the Master Lease were Sublessee under this Sublease; provided, however, that all communications between Sublessee and Landlord shall be through Sublessor only. Sublessee has received a copy of the Master Lease. Sublessee will not cause or allow to be caused any default under the Master Lease. Sublessee will indemnify Sublessor against any loss, liability, and expenses (including reasonable attorneys' fees and costs) arising out of any default under the Master Lease caused by Sublessee, and Sublessor will indemnify Sublessee against any loss, liability, and expenses (including reasonable attorneys' fees and costs) arising out of any default under the Master Lease caused by Sublessor.
The Master Lease. This Sublease is subject and subordinate to the Master Lease. It is the intent of the Parties to incorporate the terms of the Master Lease into this Sublease by reference except as otherwise specifically provided herein. Where there is a material conflict between terms of the Master Lease and this Sublease, the Master Lease will govern. Subtenant agrees to be bound by and perform all the terms, provisions and conditions to be performed by or applicable to Landlord under the Master Lease to the extent applicable to the Premises or use of any portion of the Building. Any references to "Tenant" in the Master Lease shall be deemed references to the Subtenant.
The Master Lease. An appraisal prepared by an appraiser satisfactory to Agent and indicating that the fair market value of the Project, as stabilized, is not less than $32,000,000, which has been received and approved by Agent.
The Master Lease. Borrower shall provide a copy of any executed Leases to Administrative Agent upon Administrative Agent’s request.