Cypress Permit definition
Examples of Cypress Permit in a sentence
No Transfer shall affect any Permitted Use, nor contravene or result in a default under or non-compliance with any provision of the Cypress Permit.
Tenant shall at all times during the Term and at any other time that Tenant shall be in use and occupancy of the Cypress Premises, continuously use and operate the Cypress Premises and the Leased Property solely for commercial purposes in compliance with the terms of the Cypress Permit but recognizing and subject to the VANOC Agreement and shall use reasonable commercial efforts to seek to maximize Gross Revenues.
Notwithstanding the appointment and general grant of authority in Section 2.3 above, Tenant agrees with Landlord that, without Landlord’s prior written consent, Tenant shall not agree to any amendment, modification, restatement, or replacement of, or supplemental agreement with respect to the Cypress Permit or the VANOC Agreement, or to the waiver or termination of any material obligation of any other party thereto.
Lessor shall be permitted to encumber its interest in this Lease, the Turnover Agreement, the Personal Property, or any part thereof, in favour of any Secured Party from time to time, subject to the terms and conditions of the Cypress Permit.
It is expressly acknowledged and agreed that it is the intent of the parties that there shall be no merger of this Lease or of the interest created hereby by reason of the fact that the same Person may acquire, own or hold, directly or indirectly the Tenant’s interest under this Lease or the rights created hereby, and the Landlord’s rights under the Cypress Permit.
All other amounts, liabilities and obligations arising in connection with the Cypress Permit, the Cypress Premises, the Leased Property and Tenant’s obligations in connection herewith not already covered by the definition of Impositions, except those obligations expressly assumed by Landlord pursuant to the provisions of this Lease or expressly stated not to be an obligation of Tenant pursuant to this Lease.
If Tenant fails to timely pay any Additional Charges due to any third party Entity (e.g. payment for fees required to be paid to the Province on account of the Cypress Permit), Landlord may pay such third party Entity and will be reimbursed by Tenant on demand the amount paid by Landlord, plus interest at the Interest Rate from the date of such payment by Landlord until reimbursement by Tenant.
The Tenant is authorized and hereby covenants and agrees to carry out on behalf of the Landlord, and shall otherwise perform all obligations of the Landlord under the Cypress Permit and the VANOC Agreement, at the sole cost and expense of the Tenant.
Upon and subject to the terms and conditions hereinafter set forth, Landlord hereby appoints Tenant as sub-permittee under the Cypress Permit to carry out all of the obligations of the permittee thereunder and in connection therewith Landlord hereby grants a sub-permit to and in favour of Tenant including the right to use and occupy the Cypress Premises for the purposes and subject to the limitations and conditions set forth in the Cypress Permit and in this Lease.
Tenant shall manage and operate the Cypress Premises in compliance with all obligations imposed pursuant to the Cypress Permit.