Government Leases definition
Examples of Government Leases in a sentence
The Energy Independence and Security Act (EISA) establishes the following requirements for Government Leases in Buildings that have not earned the ENERGY STAR® Label conferred by the Environmental Protection Agency (EPA) within one year prior to the due date for final proposal revisions (“most recent year”).
If the Government occupies more than 50 percent of the Building by virtue of this and any other Government Lease(s), the Government may, upon reasonable notice, direct the Lessor to initiate a tax appeal, or the Government may elect to contest the assessed valuation on its own behalf or jointly on behalf of Government and the Lessor.
Yet, it did not verify the ownership of the Premises or the existence of any amendments which did not appear on the copies handed to ▇▇▇ and all documents, Government Leases were used for reference only.
The Tenant shall not contravene any negative or restrictive covenants contained in the Government Lease(s) under which the Premises are held from the Government, and specifically not to permit or allow the Premises to be used for any purpose that is unlawful or immoral.
Purchaser and Sellers shall promptly and diligently execute and complete any forms, registrations, or other requirements of GSA in connection with the recognition of Purchaser as the new Lessor under the Government Leases.
Until the Novation Agreements are executed by GSA and payments under Government Leases are made directly to Purchaser or a Purchaser Designee, Sellers shall maintain (or cause to be maintained) bank accounts for a period not to exceed nine (9) months following the applicable Closing to which payments under Government Leases are sent and shall promptly deliver Purchaser’s share of the same to Purchaser upon receipt.
Borrower shall fully perform in a timely ------------ fashion all of its obligations under all Space Leases, including the Government Leases.
Buyer and Seller acknowledge that the GSA will not recognize the transfer and assignment of the Government Leases to Buyer until the full execution of a novation agreement with respect to each Government Lease in substantially the form attached hereto as Exhibit K or such other customary form as may be required by the GSA (each, a “Novation Agreement”), and that the GSA will not execute such Novation Agreements until after the Closing has occurred.
Accordingly, Purchaser hereby agrees to indemnify, defend, and hold the Seller Indemnified Parties harmless from and against any liabilities, damages, costs, and expenses (including, but not limited to, reasonable attorneys’ fees) arising from or related to Purchaser’s noncompliance with any of the terms of any Government Leases during or relating to the Pre-novation Period (“Pre-novation Period Indemnity”).
Notwithstanding the foregoing, in the event that the GSA deducts from the rent owed to Buyer following the Close of Escrow pursuant to one or more Government Leases on account of the portion of any Refunds due to the GSA, then in lieu of refunding such amount(s) to the GSA as aforesaid, Seller shall pay to Buyer from the Refunds (or Buyer shall retain if the Refunds are received by Buyer) the portion of such Refunds that would otherwise be payable to the GSA.