Sale of the Premises definition

Sale of the Premises or “Sale” means the voluntary transfer or exchange of any 6 interest in the Premises or the voluntary creation of the right to acquire any interest in the Premises. It also includes an agreement to 7 transfer any ownership interest in an entity which owns the Premises. 8
Sample 1
Sale of the Premises means (aa) any voluntary sale, transfer, assignment, conveyance or hypothecation (“Transfer”) of this Lease to a Person that is not an Affiliate of Tenant, and/or (bb) a Transfer or other change in ownership of ten percent (10%) or more of any direct Equity Interest (other than to an Affiliate of Tenant) in (y) Tenant and/or (z) any Person or Entity with a direct Equity Interest in Tenant, whether voluntary or by operation of law, merger, consolidation or otherwise. In addition to the foregoing, the term “Sale” as used herein shall also include a Transfer of any direct Equity Interest in Tenant and/or any Person or Entity with a direct Equity Interest in Tenant made by a particular transferor to a particular transferee that is not an Affiliate of Tenant and that, when combined with any Transfers made by such transferor to such transferee within a period of twelve (12) months, results in a Transfer of Equity Interests in Tenant or any Person or Entity with a direct Equity Interest of Tenant, as applicable, of ten percent (10%) or more.
Sample 1
Sale of the Premises means any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary, of the fee simple title to the Land and/or the Premises. For purposes of this Lease, a Sale of the Premises shall also include a lease (subject to this Lease) of all or substantially all of the Premises or Land and any sale, assignment, transfer or other disposition, for value or otherwise, voluntary or involuntary , in a single transaction or a series of related transactions, of the controlling interest in Landlord. If Landlord is a corporation, the phrase "controlling interest" shall mean the right to exercise, directly or indirectly, more than fifty percent (50%) of the voting rights attributable to the shares of Landlord (through ownership of such shares or by contract). If Landlord is not a corporation, the phrase "controlling interest" shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of Landlord.
Sample 1

Examples of Sale of the Premises in a sentence

  • Sale of the Premises – This section will indicate whether or not the agent will have the right to represent the property if the owner decides to put the property up for sale.

  • The relief requested in the Motion, including, without limitation, approval of the Sale of the Premises to HVA in accordance with the terms and conditions of the Purchase Agreement and this Order, is in the best interests of the Debtor, its creditors, its estate and all other parties in interest in this Case.

  • Neither Subtenant nor its successors or assigns will enter into any agreement which modifies, surrenders, or merges the Sublease without the prior consent of Prime Landlord, and an agreement made in contravention of the provisions of this paragraph will not affect the Prime Landlord.5. Sale of the Premises.

  • Sale of the Premises (A): The Lessor agrees to ensure that the purchaser of the Premises (A) shall enter into a tenancy agreement with the Lessee with the same terms as the Tenancy Agreement (A) if the Premises (A) is sold to another party.

  • Sale of the Premises: This provision is intended to provide some measure of protection for low­income tenants when the building is sold.⚫ ⚫ Under Option 1, the Property Owner agrees not to sell the property unless the buyer agrees to assume all obligations of the Agreement.

  • Go Smart had entered into a Provisional Agreement for Sale and Purchase (the “SPA”) with Kerwell Limited, the Purchaser and Midland Realty (Comm.& Ind.) Ltd, the Agent for the Proposed Sale of the Premises for an aggregate cash consideration of HK$51,900,000 (approximately S$8,185,000).

  • Sale of the Premises is hereby confirmed, by the Mayor and City Council, to VANDENBERG ELECTRIC AND COMMUNICATIONS, L.L.C., a Nebraska Limited Liability Company, for the purchase price of TWENTY-EIGHT THOUSAND DOLLARS AND NO CENTS ($28,000.00) PLUS CLOSING COSTS.

  • This generally means that the tenant may not be evicted in the absence of serious or repeated violations of the terms of the lease or tenancy. Sale of the Premises: This provision is intended to provide some measure of protection for low-income tenants when the building is sold.

  • Sale of the Premises is subject to the provisions of Massachusetts General Laws, Chapter 40, Section 54A.

  • The Sale of the Premises by the Debtor to HVA pursuant to the Purchase Agreement (i) is or will be legal and a valid and effective transfer of the Premises to HVA and (ii) vests or will vest HVA with all right, title and interest of the Debtor in the Premises on the closing of the Sale free and clear of any Interests or Claims pursuant to Bankruptcy Code §§ 105, 363(b) and 363(f), including any claims arising any theory of successor liability.

Related to Sale of the Premises

  • the Premises means the building or part of the building booked and referred to in the contract

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Authority’s Premises means any premises occupied by or under the control of the Authority where the Services are to be supplied, as set out in the Specification.

  • business premises means premises on which a business is conducted, premises rented in whole or in part to others, or held for rental.

  • the Building means any building of which the Property forms part.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • On the premises where stored with respect to heating oil means UST systems located on the same property where the stored heating oil is used.

  • Licensed premises or “premises” means all rooms, enclosures, contiguous areas, or places susceptible of precise description satisfactory to the administrator where alcoholic beverages, wine, or beer is sold or consumed under authority of a liquor control license, wine permit, or beer permit. A single licensed premises may consist of multiple rooms, enclosures, areas, or places if they are wholly within the confines of a single building or contiguous grounds.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Note Mortgage and/or an ABL Mortgage.

  • public open space means the securing of an area of a site at grade or street level which is acceptable to the City and is appropriately landscaped for the use and enjoyment of the public during reasonable hours.

  • trade premises means any premises used or intended to be used for carrying on any trade or industry;

  • Leased space means individual storage space at a self-service storage facility which is rented to an occupant pursuant to a rental agreement.

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Customer’s Premises means the land and buildings owned or occupied by a Customer, and any land over which the Customer has an easement or right to pass electricity, including:

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • School premises means either of the following:

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • the Property means the Property more particularly described in Condition 2 of the Conditions of Sale (as defined in 1.6 below);

  • University premises means buildings or grounds owned, leased, operated, controlled, or supervised by Wayne State University or Wayne Housing Authority.

  • Off-premises sign means a sign directing attention to a use, product, commodity or service not related to the premises upon which the sign is located.

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by Company or any Company Subsidiary, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other third party upon the expiration or termination of the lease for such Leased Real Property.