Examples of New Lease Agreement in a sentence
If Lessor and Lessee do not enter into New Lease Agreement before the end of the Initial Term, Lessee shall cease leasing the ITFS Channels on the last day of the Initial Term.
In the event Purchaser fails to notify Seller in writing of its approval or disapproval of any New Lease Agreement within the five (5) Business Day period set forth above, Purchaser shall be deemed to have approved such New Lease Agreement.
The Directors also consider that by entering into the New Lease Agreement, the Group is able to cap the amount of rent and management fee payable, while allowing the flexibility to the Group to adjust the amount of rent and management fee payable in the event that the fair market rent and management fee as determined in accordance with the New Lease Agreement is different from the agreed amount under the New Lease Agreement.
Once approved, the Hotel Manager shall carry out Capital Additions in accordance with the approval of the Lessor and (during the term of the New Lease Agreement) the Lessee as to the design, construction standard, and other material aspects of the proposed capital alterations or additions.
The Hotel Manager is required to submit a budget in respect of planned capital expenditure (save and except those investments falling within the definition of FF&E) (the “Capital Additions”) for the Lessor’s and/or (during the term of the New Lease Agreement) the Lessee’s approval.