Examples of Site Leased Property in a sentence
The City reserves the right, so long as no Event of Nonappropriation or Event of Default shall have occurred under the Lease, for any of its duly authorized representatives to enter upon the Site Leased Property at any reasonable time to inspect the same or to make any repairs, improvements or changes necessary for the preservation thereof.
The Trustee at all times during the term of this Site Lease shall peaceably and quietly have, hold and enjoy the Site Leased Property, subject to the provisions of the Lease, and the City hereby acknowledges that the Trustee shall have a leasehold interest in the Site Leased Property, subject to the Lease.
The Trustee shall use the Site Leased Property for the purpose of subletting the same to the City pursuant to the Lease; provided that upon the occurrence of an Event of Nonappropriation or an Event of Default under the Lease or Event of Default under the Indenture, the City shall vacate the Site Leased Property as provided in the Lease, the Trustee may exercise the remedies provided in the Lease and the Indenture and the Trustee may use or sublet the Site Leased Property for any lawful purposes.
The Trustee agrees, upon the termination of this Site Lease, to quit and surrender the Site Leased Property to the City, and agrees that any fixtures, permanent improvements and structures existing as a part of the Site Leased Property at the time of the termination of this Site Lease shall remain thereon and all legal interests of the Trustee thereto shall vest in the City.
The City shall construct the Improvements in and on the Site Leased Property and shall acquire and install the Equipment in the Improvements or in the Site Leased Property as appropriate, promptly and with due diligence and in accordance with the terms hereof, provided, however, that, if the performance by the City of such obligations is delayed by Force Majeure, the period for the commencement or completion thereof shall be extended for a period equal to such delay.
The City covenants that it is the owner in fee of the Site Leased Property, subject only to Permitted Encumbrances (as defined in the Lease).
A judgment requiring a payment of money may be entered against the City by reason of an Event of Nonappropriation, or a failure to vacate the Site Leased Property and the Improvements and deliver the Equipment to the Trustee following an Event of Nonappropriation, only to the extent provided in Section 12.02(d)(i) hereof.
The term of this Site Lease shall commence on the date hereof and shall end on December 31, 2046 (the “Site Lease Termination Date”); provided that, if prior to the Site Lease Termination Date, the interest of the Trustee in the Site Leased Property has been conveyed to the City pursuant to Article IX of the Lease, then the term of this Site Lease shall end on the date of such conveyance.
The City hereby leases to the Trustee and the Trustee hereby leases from the City, on the terms and conditions hereinafter set forth, the Site Leased Property, which consists of the real property and the improvements thereon described in Exhibit A attached hereto and made a part hereof, subject to Permitted Encumbrances (as defined in the Lease).
The provisions of the Lease shall govern with respect to any damage, destruction or condemnation of the Site Leased Property during the Lease Term of the Lease.