Facility Leases definition
Examples of Facility Leases in a sentence
Mortgagor shall at all times fully perform and comply with all agreements, covenants, terms and conditions imposed upon or assumed by it as lessee under each of the Facility Leases (including, without limitation, the covenant to pay rent and all taxes, assessments and other charges mentioned therein) prior to the expiration of any notice and/or cure period provided in each such Facility Lease.
The leasing by Contractor to District of the Project shall not effect or result in a merger of District's leasehold estate pursuant to this Facilities Lease and Contractor's title to improvements (prior to the end of the Facility Lease's Term) under the Site Lease, and Contractor shall continue to have and hold a leasehold estate in said Site pursuant to the Site Lease throughout the term thereof and the term of this Facilities Lease.
Total – ▇▇▇▇ ▇* $33,006,067.10* *On December 11, 2013, the above four Facility Leases were amended to extend the term from January 15, 2015 to January 15, 2023 and to reduce the semi-annual rental payments by 50% effective July 15, 2015.
All claims or suits arising out of any Taking may be settled by Mortgagor, except that Mortgagee shall have the right (but not the obligation) to participate in such claim or suit, and to approve settlement thereof (and notwithstanding anything in the Facility Leases to the contrary, Mortgagor shall not agree to any settlement or compromise of the amount of any such claim or suit, except a claim or suit where the amount reasonably anticipated to be received by Mortgagor is less than $5,000,000).
Other than the Facility Leases set forth on Schedule 1.1(a)(i)(J) or other leases set forth on Schedule 1.1(a)(i)(L), there are no leases, subleases, licenses or other agreements or arrangements granting to any person the right to purchase, use or occupy any facility or any real property owned or leased by Seller.