Integrated Lease definition
Examples of Integrated Lease in a sentence
Neither Master Landlord, nor any Landlord under an Integrated Lease, shall ever be personally liable (i.e., liable beyond such interests) for any such judgment or for any other liability or obligation under this Master Agreement or any Lease.
Each Landlord under an Integrated Lease is a party to this Master Agreement for purposes of binding such Landlord to the terms and conditions set forth in this Master Agreement (and effectuating the integration of this Master Agreement into such Integrated Lease, as more particularly provided in Section 11 hereof); it being understood that in no event shall any such Landlord have any rights hereunder separate and apart from the rights of Master Landlord (which may be exercised only by Master Landlord).
The provisions of this Master Agreement constitute a part each Integrated Lease, and, thus, any default under the provisions of this Master Agreement as the same relates to an Integrated Lease, shall be a default under such Integrated Lease; provided, however, that no such default under the provisions of this Master Agreement shall ever constitute a basis for Landlord having a right to terminate such Integrated Lease (or any other Lease).
This Master Agreement is an agreement solely among (i) Wachovia, (ii) Master Landlord and (iii) each Landlord under a Lease which, at the time in question, is an Integrated Lease.
Upon request of Wachovia, Master Landlord shall provide evidence, reasonably satisfactory to Wachovia, as to any matter affecting the status of any Lease as either an Integrated Lease or Non-Integrated Lease, and/or the various facts and circumstances giving rise thereto (including information as to the entities holding title to any Lease Properties).
Integrated Lease as of the date hereof) may hereafter Standalone.
In order to give effect thereto, upon such conveyance, the WCT Lease shall no longer be considered a "Lease" of any kind (either an "Integrated Lease" or "Non-Integrated Lease") under the Master Agreement.