Bond Lease Clause Samples

Bond Lease. The Lessee will, at its expense, timely ---------- perform all of the obligations of the Lessor, in its capacity as lessee, under the Bond Lease and all obligations of the Lessor and the Lessee under any and all documents, instruments and agreements related thereto, including, without limitation, the other Bond Documents, and, if requested by the Lessor, shall provide satisfactory evidence to the Lessor of such performance.

Bond Lease. Counterparts of the Bond Lease and a ---------- memorandum thereof, duly executed by the Issuer and the Lessor and, in the case of the memorandum, in recordable form, shall have been delivered to the Agent.

Bond Lease. This Lease is what is commonly called a "bond lease", it being understood that Landlord shall receive all Rent as provided in this Article net of any and all Impositions, Encumbrances, charges, costs, liabilities or expenses of any nature whatsoever in connection with the ownership and operation of the Property. (A) NO SET-OFF OF RENT. Landlord shall receive all Rent due hereunder and Rent shall be due and payable by Tenant in all events, without notice or demand and without any setoff, counterclaim, abatement, suspension, deduction or defense whatsoever. Tenant hereby irrevocably waives the application of and any rights it may have pursuant to any law or other Legal Requirement relating to valuation and appraisement. In addition to the Rent reserved by this Article, Tenant shall pay to the parties respectively entitled thereto all Impositions, insurance premiums, operating charges, maintenance charges, construction costs (excluding Total Project Costs which are expressly made the responsibility of another Person under the Transaction Documents) and any other charges, costs, liabilities and expenses which arise with respect to the Property or which otherwise may be contemplated under any provisions of this Lease during the Term hereof. All of such charges, costs, liabilities and expenses shall constitute additional rent, and upon the failure of Tenant to pay any such costs, charges, liabilities or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay Rent. It is the intention of the parties hereto that, except as herein expressly provided this Lease shall not be terminable for any reason by Tenant. Any present or future law to the contrary shall not alter this agreement of the parties.

Bond Lease. Landlord acknowledges that Tenant is seeking the appropriate approvals for a sale and leaseback transaction with the Development Authority of ▇▇▇▇ County or a related entity (the “Authority”) under which Landlord would convey the Building to the Authority in exchange for the Authority’s Taxable Industrial Development Revenue Bond (Worldspan, L.P. Project), or other denominated bond issued for such purpose (the “Bond”), and would lease the Building back from the Authority under a Lease Agreement (the “Bond Lease”) under which Landlord would pay Basic Rent matching the debt service on the Bond. The Bond Lease and Basic Rent and other collateral would be pledged by the Authority as security for the Bond under a Deed to Secure Debt, Assignment of Rents and Leases and Security Agreement (the “Security Document”) from the Authority to Landlord. The foregoing proposed transaction is herein called the “Bond Transaction.” Landlord shall reasonably cooperate with Tenant in Tenant’s efforts to complete the Bond Transaction, provided such cooperation does not impose additional expense or liability on Landlord.

Bond Lease. The lease structure used in the Bond Lease, as described in this Agreement, is necessary in order to provide the Company with ad valorem property tax savings. Such structure is designed to utilize: (i) the provisions of the Act exempting the Authority from paying ad valorem property taxes with respect to property owned by it, and (ii) a valuation and classification methodology for ad valorem property tax purposes that the County and the Assessors intend to apply to the Project as described in Section 2.3, below.

Bond Lease. This Lease is a “bond type” lease in which Tenant, in addition to the payment of Base Rent, shall be directly responsible for the payment of any and all Project Expenses (defined in Paragraph 5.1.E) and all Utilities (defined in Paragraph 9) with respect to the Property, and Landlord shall have no obligations of any nature with respect to the Property, except as otherwise specifically provided in this Lease. Notwithstanding any other provision of this Lease to the contrary, Tenant shall be responsible for all repair, maintenance, replacement and construction with respect to the Property (see Paragraph 10) and, upon expiration of the Term, Tenant shall surrender the Property to Landlord in substantially the same condition as it exists as of the date hereof, reasonable wear and tear excepted, and in accordance with Paragraph 23.

Bond Lease. THIS LEASE IS A BOND LEASE AND THE MINIMUM RENT, ADDITIONAL RENT AND ALL OTHER SUMS PAYABLE BY TENANT HEREUNDER SHALL BE PAID IN ALL EVENTS AND WITHOUT NOTICE OR DEMAND, AND WITHOUT COUNTERCLAIM, SETOFF, DEDUCTION, DEFENSE, ABATEMENT, SUSPENSION, DEFERMENT, OR DIMUTION OF ANY KIND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN. THIS LEASE SHALL NOT TERMINATE, NOR SHALL TENANT HAVE ANY RIGHT TO TERMINATE OR AVOID THIS LEASE OR BE ENTITLED TO THE ABATEMENT OF ANY RENTS HEREUNDER OR ANY REDUCTION THEREOF, NOR SHALL THE OBLIGATIONS AND LIABILITIES OF TENANT HEREUNDER BE IN ANY WAY AFFECTED FOR ANY REASON INCLUDING (A) DAMAGE TO, DESTRUCTION OF OR ANY TAKING OF ANY PART OF THE PREMISES, (B) ANY RESTRICTION OF OR INTERFERENCE WITH ANY USE OF THE PREMISES, (C) ANY MATTER AFFECTING TITLE TO, OR ANY EVICTION FROM, THE PREMISES, (D) ANY PROCEEDING RELATING TO LANDLORD, OR ACTION TAKEN WITH RESPECT TO THIS LEASE BY ANY TRUSTEE OR RECEIVER OF LANDLORD OR BY ANY COURT IN ANY PROCEEDINGS, (E) ANY FAILURE BY LANDLORD TO PERFORM OR COMPLY WITH THIS LEASE OR ANY OTHER AGREEMENT OR BUSINESS DEALINGS WITH TENANT, (F) LANDLORD'S ACQUISITION OF OWNERSHIP OF ALL OR PART OF THE PREMISES OR OF LANDLORD'S INTEREST THEREIN OTHER WISE THAN AS PROVIDED HEREIN, (G) ANY OTHER OCCURRENCE WHATSOEVER, WHETHER SIMILAR OR DISSIMILAR TO THE FOREGOING, ANY PRESENT OR FUTURE LAW TO THE CONTRARY NOTWITHSTANDING AND WHETHER OR NOT TENANT SHALL HAVE NOTICE OR KNOWLEDGE OF ANY OF THE FOREGOING. THE OBLIGATIONS OF TENANT HEREUNDER SHALL BE SEPARATE AND INDEPENDENT COVENANTS AND AGREEMENTS. TENANT WILL REMAIN OBLIGATED UNDER THIS LEASE IN ACCORDANCE WITH ITS TERMS, AND TENANT WAIVES ALL RIGHTS NOW OR HEREAFTER CONFERRED BY STATUTE OR OTHERWISE TO MODIFY OR AVOID STRICT COMPLIANCE WITH THIS LEASE.

Bond Lease. Any present or future law to the contrary notwithstanding, this Sublease shall not terminate, nor shall Subtenant be entitled to any abatement, suspension, deferment, reduction, setoff, counterclaim, or defense with respect to the Subrent, nor shall the obligations of Subtenant hereunder be otherwise affected, by reason of: (1) any defect in the condition, merchantability, design, construction, quality or fitness for use of the Premises or any part thereof, or the failure of the Premises to comply with any legal requirements, including any inability to occupy or use any such Premises by reason of such non-compliance; (2) any damage to, removal, abandonment, salvage, loss, contamination of or release from, scrapping or destruction of or any requisition or taking of any portion of the Premises or any part thereof; (3) any restriction, prevention or curtailment of or interference with the construction on or any use or any portion of the Premises or any part thereof including eviction; (4) any defect in title to or rights to any portion of the Premises or any lien on such title or rights or on any portion of the Premises; (5) any change, waiver, extension, indulgence or other action or omission or breach in respect of any obligation or liability of or by Overlandlord, Sublandlord or any Leasehold Mortgagee; (6) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceedings relating to Overlandlord, Sublandlord, Subtenant or any other Person, or any action taken with respect to this Sublease by any trustee or receiver of Overlandlord, Sublandlord, Subtenant or any other Person, or by any court, in any such proceeding; (7) any claim that Subtenant has or might have against any Person, including without limitation Overlandlord, Sublandlord, any Mortgagee, or any vendor, manufacturer, contractor of or for any portion of the Premises; (8) any failure on the part of Overlandlord or Sublandlord to perform or comply with any of the terms of the ▇▇▇▇▇▇▇▇▇, this Sublease or of any other agreement; (9) any invalidity or unenforceability or illegality or disaffirmance of the ▇▇▇▇▇▇▇▇▇, this Sublease or any provision thereof or hereof against or by Overlandlord, Sublandlord or Subtenant or of any Leasehold Mortgage or any document or instrument executed in connection with such Leasehold Mortgage or by the parties thereto; (10) the impossibility or illegality of performance by Overlandlord, Subtenant, Sublandlord or a...

Bond Lease. 2.7.1 The Authority and the Company shall enter into a lease (the “Bond Lease”) at the Closing. The Authority agrees to provide the Existing Property through the Bond Lease to the Company, at a cost of Five Hundred Thousand Dollars ($500,000) (the “Purchase Amount”), on and subject to the terms and conditions set forth below and elsewhere in this Agreement and the Bond Lease. Pursuant to the Bond Lease, the Authority will lease the Project to the Company. The form and material terms of the Bond Lease shall be negotiated and finalized by the Authority and the Company during the Due Diligence Period (as defined below). Pursuant to the Bond Lease, the Authority will hold legal title to the Project and the Authority will lease the Project to the Company. The Bond Lease shall contain terms and provisions substantially of the type normally included in bond leases between governmental “conduit” bond issuers and users of bond-financed property. The Bond Lease and related Purchase Option (as defined below) will evidence the Company’s beneficial ownership of the Project. The Bond Lease will be a triple net type lease. The Bond Lease shall permit subleases without the consent of the Authority. 2.7.2 The Authority, in the Bond Lease or by separate instrument, shall grant the Company the option to purchase the Project (the “Purchase Option”) upon substantial completion of the construction, renovation, acquisition and installation of the Improvements, exercisable for (i) an option exercise price of $10; plus (ii) the Recovery Value (as defined herein) if owed pursuant to Section 2.7.3(b) below; and (iii) if all of the Project Bonds have not theretofore been retired, the Company shall cause all of the Project Bonds to be retired or cancelled. Payment of the amounts so required is a condition to the closing under the Purchase Option. In the event the Company exercises the Purchase Option, this Agreement shall no longer remain in effect following the closing of the purchase of the Project by the Company. This Purchase Option and the Bond Lease shall be evidenced by a recorded memorandum of lease or option agreement. 2.7.3 The Bond Lease shall provide the following: (a) (i) that if the Company has not actually and substantively commenced construction, renovation, acquisition and installation of the Improvements by July 1, 2026, the Authority may (A) require the Company cause the Project Bonds to be retired or cancelled, and (B) terminate the Bond Lease and retain the Existi...