Treaty One Lands Lease Agreements Sample Clauses

Treaty One Lands Lease Agreements. As soon as practicable, the Signatory Nations, shall enter into a Head Lease Agreement with the Treaty One Nations Inc. The Lease Agreement will provide the Treaty One Nations Inc. with general authority for the day-to-day oversight of the development and management of the Treaty One Lands, subject always to limitations contained in this Agreement, the Joint Reserve Land Code Provisions and Applicable Rules and Regulations in place from time to time. A Lease Agreement or a Sublease Agreement will require the consent of 5 of 7 of the First Nations in order to be legally binding, but every effort shall be made to achieve unanimous consent with respect to the particular lease, given its importance to the Signatory Nations. The Treaty One Nations Inc. shall enter into a Main Commercial Lease with Treaty One Development Corporation Inc. or its nominee that will establish a 99-year leasehold interest held by Treaty One Development Corporation Inc. in the Treaty One Lands. The Treaty One Lands may be subleased to third parties for an appropriate term and fair market rent payment(s). All sublease terms including rates respecting the Treaty One Lands will be approved by an affirmative vote of 5 of 7 Governing Council members by Governing Council Resolution. The Treaty One Development Corporation Inc. will be entitled to further sub-lease all or portions of the Treaty One Lands for any purposes without requiring consent of the Governing Council, and that the Commercial Lease Agreement will, at all times, be subject to all Applicable Rules and Regulations. In the event that the Governing Council, with the advice of professional advisors, determines that certain management or oversight functions of the Treaty One Lands are not adequately addressed in the Lease Agreement, the Governing Council will act in good faith and with best efforts to establish a management sub- Council of the Governing Council, together with its terms of reference, which will have oversight responsibility for any identified management functions that are determined to not adequately be addressed in the Lease Agreement. In the event of a dispute regarding the term or rental compensation for the lease between Treaty One Nations Inc. and Treaty One Development Corporation Inc. such matter shall be addressed using the dispute resolution processes set out in the lease agreement.
Sample 1
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Related to Treaty One Lands Lease Agreements

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