Land Leases definition
Examples of Land Leases in a sentence
Purchaser shall receive full possession of the Properties at Closing, subject only to the Land Leases, Tenant Leases, Permitted Exceptions, Service Contracts, Franchise Agreements, and Equipment Leases.
Seller has good and marketable title to the Properties (other than the land leased to Seller pursuant to the Land Leases), subject only to the Tenant Leases, Permitted Exceptions, and those liens and encumbrances which will be released at Closing.
Seller shall further obtain assurance, reasonably satisfactory to Purchaser, from any lender whose loan is secured by the land subject to the Land Leases, that such lender will not disturb the possessory rights of Purchaser under the Land Leases as long as Purchaser is not in default under the Land Leases.
Other than the Related Contracts listed on Schedule 3.4(f), (i) none of the Closing Sites nor Sellers (with respect to any Closing Site) are bound by any material agreement pursuant to which any Person provides goods or services to, or leases any portion of, or which is otherwise related to, a Closing Site other than Land Leases and Tenant Leases and (ii) no third party is in possession of any portion of the Closing Sites.
Seller has not done or performed, or failed to do or perform any act which would invalidate or provide grounds for the other party thereto to terminate (with or without notice, passage of time or both) any of such leases or in any material respect impair the rights or benefits of, or materially increase the costs to, such Seller or Buyer under any of such Land Leases.