Examples of Affiliated Lease in a sentence
Tenant acknowledges that the Security Deposit constitutes security for the faithful observance and performance by Tenant of all the terms, covenants and conditions of this Lease to be observed and performed and for the full and faithful performance by Tenant of all of the terms, covenants and obligations set forth in each Affiliated Lease.
If any Event of Default shall occur and be continuing under this Lease or any Affiliated Lease, Landlord may, at its option and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply the amount of the Security Deposit in accordance with the terms set forth herein and as may be necessary to compensate Landlord toward the payment of the Rent or other sums due Landlord under this Lease or under any Affiliated Lease as a result of such breach by Tenant.
Tenant shall have and is hereby granted two (2) options (each, an “Extension Option”) to extend the Term of this Lease (each, an “Extended Term”) for an additional five (5) years each, upon the terms, covenants, conditions and rental as set forth herein; provided no continuing Event of Default then exists hereunder or under any Affiliated Lease at the commencement of the respective Extended Term.
The Surviving Company will have a one-time ability to terminate the Affiliated Lease on the fifth (5th) anniversary of the Closing Date upon at least 180 days' prior notice to the Affiliate Landlord.
The Security Deposit shall be held by Landlord as security for the full and faithful performance by Tenant of all of the terms and obligations set forth in this Lease and for the full and faithful performance by Tenant of all of the terms and obligations set forth in each Affiliated Lease.
At the Effective Time, the Surviving Company will assume the responsibilities of the Company as tenant under the Affiliated Lease.
If an Event of Default shall occur and be continuing under this Lease or any Affiliated Lease, then in addition to and not exclusive of any other remedies available under this Lease, Landlord may use, apply or retain all or any portion of the Security Deposit for the payment of any Rent, the funding of Additional Charges or other charges in Default, or for the payment of any sum to which Landlord may become obligated by reason of such Event of Default.
Annex VII accurately identifies (i) the Borrower or Subsidiary and the member of Management and/or Affiliate thereof which has entered into each such Affiliated Lease Agreement, (ii) if the party is an Affiliate of a member of Management, such member of Management and the ownership interest of such member of Management in such Affiliate, and (iii) the property locations which are subject to such Affiliated Lease Agreement.
The Affiliated Lease Agreements in effect as of the date of this Agreement are disclosed on Annex VII hereto.
If Tenant performs all of Tenant’s obligations hereunder, and each of the tenants under each of the Affiliated Leases perform all of such tenant’s obligations under the applicable Affiliated Lease, then at the expiration of the Term, and after Tenant has vacated the Leased Property, the Security Deposit, or so much thereof as has not been applied or used by Landlord as provided in this Lease, shall be returned to Tenant, without payment of interest or other increment for its use.