WLP Property Lease Sample Clauses

WLP Property Lease. The City shall lease the WLP Property to the County for park purposes and/or utilization as a site for a radio communications tower and related equipment. The lease shall be recorded in the Official Records of Broward County, at the County’s expense. The County shall prepare an appropriate lease agreement, in form and substance reasonably acceptable to the Parties, detailing the terms and conditions of the Lease, which shall include the following: 2.3.1 The annual rent to be paid by the County to the City for the WLP Property shall be Sixty-Two Thousand Four Hundred Dollars ($62,400), paid annually in advance. This amount shall increase two percent (2%) each year the lease remains in effect. Subject to the other terms and conditions of this Agreement, the lease shall be effective for a term of fifty (50) years commencing on the date the WLP Property is transferred to the City, with automatic renewals, thereafter, every ten (10) years. Upon termination of the lease, the Parties agree to enter into a subsequent lease on the same terms stated in Section 2.3, including without limitation the same financial and durational terms and the repurchase right stated below, and other customary lease terms as to which neither party shall unreasonably object. 2.3.2 The County shall be solely responsible for all maintenance, repair, and security on the WLP Property. 2.3.3 The County may restrict the City’s access to the WLP Property as the County determines appropriate, based upon the County’s use of the WLP Property. 2.3.4 At any time after five (5) years after the commencement of the lease of the WLP Property, the County may elect to purchase the WLP Property from the City for the nominal amount of Ten Dollars ($10.00). In such event, the County shall prepare, and the City shall execute (and shall authorize an appropriate signatory to execute), all closing documents necessary to effectuate the County’s purchase of the WLP Property. If such purchase occurs, the lease shall terminate effective upon conveyance to the County of the WLP Property, in which event neither party shall have any further rights or obligations under the lease.
Sample 1
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Related to WLP Property Lease

  • Assignment This Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement through no fault of its own then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon. Upon delivering such notice, the obligation of the affected party, so far as it is affected by such Force Majeure as described, shall be suspended during the continuance of the inability then claimed but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. In the event that Vendor’s obligations are suspended by reason of Force Majeure, all TIPS Sales accepted prior to the Force Majeure event shall be the legal responsibility of Vendor and the terms of the TIPS Sale Supplemental Agreement shall control Vendor’s failure to fulfill for a Force Majeure event.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Answering Paragraph No 66: Xxxx Xxx xxxxx knowledge or information sufficient to form a 20 belief about the truth of the allegations contained in this paragraph and on that basis denies them.

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Indemnity The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith.

  • Termination In the event that either Party seeks to terminate this DPA, they may do so by mutual written consent so long as the Service Agreement has lapsed or has been terminated. Either party may terminate this DPA and any service agreement or contract if the other party breaches any terms of this DPA.

  • Indemnification Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement, and whether or not this Agreement is otherwise carried out, the provisions of Section 5 shall not be in any way affected by such election or termination or failure to carry out the terms of this Agreement or any part hereof.

  • Waiver The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other or subsequent breach.

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