Direct Lease definition

Direct Lease shall have the meaning as defined in Section 3.1.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Direct Lease has the meaning set forth in Section 5.32.

Direct Lease means a lease issued as the result of individual negotiations with the department.

Examples of Direct Lease in a sentence

• Optionee may exercise the Option (if at all) at any time during the final five (5) years of the USC Lease or the Direct Lease, as applicable, provided Optionee has satisfied the conditions set forth in Section 3.1, but no later than that date which is eighteen (18) months prior to the expiration of the Term including any Extension Term of the USC Lease or Direct Lease, as applicable (the “Option Expiration Date”) by delivering a written notice to Owner (the “Option Notice”).

• Optionee shall have performed and complied in all material respects with all covenants, agreements, terms and conditions required by this Agreement to be performed or complied with by Optionee prior to or at the Closing, and no default (that continues beyond all applicable notice and cure periods) of any material term has occurred under the USC Lease, or the Direct Lease, as applicable, following the delivery of the Option Notice.

• The use and term of this replacement Vehicle is subject to the conditions of the Direct Lease Assistance Service and therefore does not fall under the terms of this article.

• Sublessee hereby agrees to respond (in the affirmative or negative), from time to time, within ten (10) business days of its receipt of a written inquiry from Sublessor requesting that Sublessee confirm that Sublessee is or is not actively negotiating a Direct Lease with Master Lessor.

• In the event that Sublessee executes a Direct Lease with Master Lessor for the Subleased Premises, then Sublessor agrees to execute a quitclaim deed with respect thereto for delivery and recordation at expiration or termination of the Master Lease.

More Definitions of Direct Lease

Direct Lease means a lease on the same terms and conditions as the Master Lease, subject, however, to the security deposit requirement set forth above and to such modifications in Landlord's standard form lease as may have been required in the interim by Landlord's lender, and provided that Subtenant's ("Tenant" under the Direct Lease) obligations with respect to restoration of the Premises on surrender shall reference the condition of the Premises on commencement of the Sublease (as opposed to the condition on commencement of the Direct Lease). If Landlord and Subtenant cannot agree upon the amount of the security deposit to be provided by Subtenant for any Direct Lease pursuant to this Paragraph 2, then the amount of the security deposit shall be determined by the arbitration process stated in Paragraph 10 below. In addition, Landlord agrees to use commercially reasonable efforts to obtain within nine (9) months of the Effective Date hereof, Landlord's lender's approval of the Direct Lease rights granted to Subtenant pursuant to the terms of this Consent.

Direct Lease means the credit union purchases personal property from a vendor, becoming the owner of the property at the request of a member of the credit union and then leases the property to that member.

Direct Lease means that certain Lease between Landlord and Tenant dated December 18, 2003, as amended by the First Amendment to Lease dated May 10, 2004, as may be hereinafter amended by Landlord and Tenant in their sole discretion; (b) as used in the Consent, the term “Direct Premises” shall mean the Direct Premises as expanded by the Additional Direct Premises, and as may be further expanded or contracted by Landlord and Tenant pursuant to any written amendment or agreement between them in their sole discretion; and (c) Sublandlord acknowledges that, pursuant to the Direct Lease Amendment, the Additional Direct Premises shall be improved together with the original Direct Premises, and that the terms of Paragraph 2(h) of the Work Letter and Construction Agreement attached as Exhibit A to the Consent shall apply to the improvements being constructed in the Additional Direct Premises as well as the original Direct Premises.

Direct Lease has the meaning specified in Section 8.14.

Direct Lease means a lease issued as the result of individual negotiations with the department that grants the lessee the exclusive right to pursue exploration, mining, or production of the leased nonmetallic mineral rights.

Direct Lease means a valid and marketable lease (with the benefit, without prejudice to the foregoing generality, of all necessary third party consents) between the Head Landlord and the Tenants in the form of the draft lease forming Part 2 of the Schedule;

Direct Lease means each Lease to which Mortgagor is a party and “Direct Leases” shall mean, collectively, all of the foregoing.