Head Lease Agreement definition
Examples of Head Lease Agreement in a sentence
BC Transit either owns the equipment or is itself leasing the equipment (or part thereof as the case may be) from a third party pursuant to the Head Lease Agreement (hereinafter called the "Head Lease Agreement").
BC Transit covenants with the Operating Company to perform and observe the convenants on its part contained in the Head Lease Agreement, if any.
Premises to be shared: Head Lease Premises, which is leased from an independent third party landlord to Novotown Business Management pursuant to the Head Lease Agreement.
The rent and fees to be charged by the independent third party landlord under the Head Lease Agreement are considered by the Company to be within a reasonable range of rent and fees in the market for similar premises in the vicinity at the time.
The basis for cost allocation has been determined on an arm’s length basis by reference to (i) the actual rent and fees to be charged by the independent third party landlord under the Head Lease Agreement; and (ii) the number of rooms and floors in the Head Lease Premises to be occupied by the staff of Novotown Creative Culture, and it is therefore fair and reasonable.