Billboard Lease Clause Samples

Billboard Lease. The Billboard Lease is in full force, and neither Seller nor, to Seller’s actual knowledge, the tenant is in default under the Billboard Lease. There are no other leases or possessory rights of others regarding the Real Property. All obligations of Seller under the Billboard Lease have been performed, completed, and paid for. As of the Effective Date: (i) the Billboard Lease has not been amended, modified or terminated (except for any amendments delivered to Buyer pursuant to this Agreement), (ii) all rent and any and all other amounts due under the Billboard Lease has been paid to a current date and the tenant has not prepaid rent by more than thirty (30) days, (iii) there are no leasing commissions owing or which may become payable with respect to the Billboard Lease, (iv) the tenant has not notified Seller, as landlord, of any default by Seller pursuant to the Billboard Lease that remains uncured nor has such tenant asserted any offsets, defenses or claims against Seller, and (v) tenant has not made any request to Landlord for any rent reductions or other concessions under the Billboard Lease.

Billboard Lease. Seller shall have delivered a written termination notice to ▇▇▇▇▇ Outdoor, as the lessee under that certain Billboard Lease, stating that such Billboard Lease shall terminate effective as of a date agreed upon by the Purchaser and Seller.

Billboard Lease. To the extent in Seller’s possession, the Documents include a true and complete list of the Billboard Lease, including all amendments and modifications thereof. Except as disclosed in the Documents, to Seller’s knowledge: (i) no tenant has any purchase option or other interest (other than its leasehold tenancy for a specified term, as stated in its Lease) in the Land or the Improvements; (ii) Seller has received no written notice that there are any pending or potential claims asserted by any tenant for offsets against rent or any other monetary claim made against Seller, as landlord; and (iii) Seller is not obligated under any Lease to pay any renewal or other lease commissions subsequent to the Effective Date.

Billboard Lease. Seller shall not, from and after the expiration of the Effective Date, (i) grant any consent or waive any material rights under the Billboard Lease, (ii) terminate the Billboard Lease (except at Purchaser’s election as provided in Section 10.2.2), or (iii) enter into a new lease, modify the Billboard Lease or renew, extend or expand the existing Billboard Lease.

Billboard Lease. Pisces, as lessor, is a party to that certain Lease Agreement with ▇▇▇▇▇▇ National Advertising of Austin, Inc. (“▇▇▇▇▇▇”), as lessee, pursuant to which Pisces leases to ▇▇▇▇▇▇ certain portions of the real property commonly known as ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇, for purposes erecting and maintaining a billboard upon the property (the “Billboard Lease”). As consideration under the Billboard Lease, Pisces may elect to receive an advertising credit from ▇▇▇▇▇▇ in the amount of $48,000 per year (the “Advertising Credit”). In connection with the transactions contemplated under this Agreement, Pisces and Wendy's have agreed to at Closing enter into a Letter of Agreement in the form of Exhibit H (the “Billboard Letter Agreement”), which sets forth the terms and conditions upon which Wendy's will have the right to use and benefit from the Advertising Credit.

Billboard Lease. In the event that the Purchase Option is not exercised as to the Billboard, as a condition precedent to the effectiveness of the exercise of such Purchase Option, HPC and Mebane shall agree upon the terms and conditions pursuant to which Mebane shall lease back the portion of the Premises upon which the Billboard is located together with such other rights including, without limitation, ingress and egress, for a period of ninety-nine (99) years for the total sum of $1.00 payable at Closing such that Mebane, in its reasonable judgment, shall have and may enjoy, all economic benefits derived or derivable from said Billboard (including, without limitation, the right to sell such rights and Billboard Lease) and such lease (the "Billboard Lease") must be executed and delivered at the Closing in recordable form and shall be so recorded and superior to any liens of any lender to HPC.

Billboard Lease. Non-exclusive permanent and perpetual aerial easement for elevated highway (Major ▇▇▇▇▇▇ Expressway) made by the Lehigh Valley Railway Company and Lehigh Valley Railroad Company to the City of New York dated March 2w7, 1947 recorded April 14, 1947 in Liber 1527 Cp 320.

Billboard Lease. Notwithstanding the foregoing, the Premises and this Lease shall exclude the existing billboard equipment (as may be reasonably replaced, repaired, or modified) and the right to lease said billboard space. The current billboard lease is attached hereto as Exhibit C and incorporated herein (as may be amended, the “Billboard Lease”). Tenant acknowledges and agrees that this Lease and all rights hereunder remain subject and subordinate to the Billboard Lease, or any billboard leases entered into in the future by Landlord or any affiliate or designee of Landlord (as long as any such new leases do not materially and adversely affect Tenant’s then-existing rights under this Lease). Tenant shall have no right to any rents or profits from the Billboard Lease or any similar billboard leases.