Co-Tenancy. Notwithstanding anything to the contrary, the Commencement Date shall not occur, nor shall Tenant be obligated to pay Rent or any other charges hereunder until Landlord, operating as “Lowe’s” has opened and is operating for business in its entire premises on the Real Property. If Lowe’s vacates or ceases business operations in its premises for any reason whatsoever (other than temporary discontinuances not to exceed one hundred and twenty (120) days for remodeling, alterations or restoration work), then either party may terminate this Lease, whereupon the parties shall be released from all liability hereunder except for any indemnities specifically surviving this Lease. Should Landlord intend to cease operations, Landlord shall provide Tenant with thirty (30) days prior written notice of same.
Co-Tenancy. This Agreement is not personally binding upon and resort shall not be had nor shall recourse or satisfaction be sought from the private property of any of the unit holders of Investors Real Property Fund (the "FUND"), trustees, officers, employees or agents of the trustee or manager of the Fund, it being intended and agreed that only the property of the Fund shall be bound by this Agreement. Only the co-tenancy interests of Menkes and Investors Group shall be bound hereby and the obligations hereunder are not binding upon either of Menkes or Investors Group in any other respect nor shall resort be had to any other property of any of Menkes or Investors Group. The rights and obligations of each of Menkes and Investors Group hereunder shall, in every case, be several and proportionate and not either joint or joint and several.
Co-Tenancy. The Owner Lessor and the Facility Lessee intend for their respective rights as tenants-in-common in the Facility under Applicable Law to be modified and supplemented by the terms of this Facility Lease. Without limiting the foregoing, to the extent inconsistent with this Facility Lease, and to the extent permitted by law, the Owner Lessor and the Facility Lessee, on its own behalf and on behalf of its successors and assigns, disclaim the application of fiduciary duties imposed on co-tenants, any right for reimbursement for repairs and improvements made by a co-tenant, and any right to a share of rents or profits generated by a co-tenant.
Co-Tenancy. If at any time during the Lease Term less than eighty-five percent (85%) of the retail portion of University Village is leased and open for business for a continuous period of more than one hundred eighty (180) days, Tenant shall have the option to pay the lesser of (i) Minimum Rent, Percentage Rent and Other Charges, or (ii) ten percent (10%) of Gross Sales in substitution for Minimum Rent, Percentage Rent and Other Charges until such time as Landlord notifies Tenant that at least eighty-five percent (85%) of the retail portion of University Village is leased and open for business. Landlord shall, upon written request of Tenant, verify in writing the names and square foot areas of all tenants open and operating in University Village.
Co-Tenancy. (a) Each Co-Tenant acknowledges and confirms that it owns or will own its interest in the Property as a tenant in common with the other Co-Tenants, and that each Co-Tenant's undivided interest in the Property is equal to its Percentage Interest.
Co-Tenancy. If more than one person executes this Lease as Tenant, then any reference in this Lease to Tenant shall mean and refer to both persons so executing in such capacity. I such event, all obligations of the Tenant under this Lease are joint and several, and any act or notice of or to, or refund to, or the signature of any one or more of them in relation to the termination of this Lease, or under or with respect to any of the terms hereof, or any default hereunder shall be fully binding upon each and all of the persons executing this Lease as Tenant.
Co-Tenancy. On- Going Co-Tenancy Requirement: The Required Area of the premises marked on Exhibit B as occupied by the Other Required T (the “Anchor Premises”) shall be open and continuously operated by no more than three (3) Anchor Tenants with respect to the premises marked on Exhibit B as occupied by the respective Other Required Tenant, with one (1) of the Anchor Tenants occupying at least 25,000 Leasable Sq.ft. Other Required Tenant: Kohls Leasable Sq. ft. of Space: 86,584 Type of Operation: Discount Department Store T may exercise the remedies specified in the Lease if the On-Going Co-Tenancy Requirement is not satisfied. (Lease, 13) Landlord Restrictions: LL shall not erect a kiosk within 20 feet from the Premises. (Lease, Ex. E-4) LEGAL/FINANCIAL Assignment & Subletting: (Lease, 9) Consent: T will not assign or sublet w/o the prior written consent of LL, not to be unreasonably withheld. Liability: T remains liable.
Co-Tenancy. In the event seventy percent (70%) or more ofthe gross rentnble space in the Shopping Center (excluding Outparcels) is or becomes vacnnt for reasons other than a temporaiy closure during the Lease Term for a period greater than ninety (90) days (an "Excess Vacancy''), then Tenant shall pay 50% of the base rent that would have otherwise been due under the Lease, plus all additional rent, retroactive to tlie beginning of the Excess Vacancy, for a period not to exceed: (i) 12 montl1s, or (ii) the curing ofthe Excess Vacancy. The abatement shnll only apply to the percentnge of the floor ai-ea in tl1e Premises that is being used as retail area (excluding office/storage). After 12 consecutive months of an Excess Vacancy, the Tenant shall have the right to terminate this Lease upon ninety (90) days' written notice ·given to Landlord.
Co-Tenancy. Notwithstanding anything contained in this Lease to the contrary, in the event the Co-Tenancy Requirement (as defined below) shall not have been met by the Commencement Date, Tenant may elect to either: (i) delay the Commencement Date until not more than 30 days after the Co-Tenancy Requirement has been met (and in such event the Commencement Date hereunder shall be deemed to be the earlier of Tenant's opening for business within the Premises or the expiration of said 30-day period); or (ii) open for business prior to the Co- Tenancy Requirement being met but, in lieu of Base Rent owed hereunder, Tenant shall pay to Landlord 50% of the Base Rent that would otherwise be due hereunder during each such month that the Co-Tenancy Requirement is not met. In the event that Tenant elected to pay 50% of Base Rent pursuant to this Section 14.19 for 12 consecutive months, Tenant shall elect, by notice delivered to Landlord within 30 days after the expiration of said 12-month period, to either (y) terminate this Lease (effective 90 days after Landlord's receipt of Tenant's notice), or (z) recommence the full payment of Base Rent thereafter coming due hereunder. If Tenant fails to make such election within said 30-day period, Tenant shall be deemed to have elected option (z) above. For the purposes of this Section 14.19, the "Co-Tenancy Requirement" shall mean Lowes (or a comparable user in Tenant's reasonable business judgment) opening for business for at least one day within substantially all of the premises identified on Exhibit A.
Co-Tenancy. The Head Lessor and the Head Lessee intend for their respective rights as tenants-in-common in the Facility under Applicable Law to be modified and supplemented by the terms of this Head Lease and, following termination of the Facility Lease, the Support Agreement. Without limiting the foregoing, to the extent inconsistent with this Head Lease and, following termination of the Facility Lease, the Support Agreement, and to the extent permitted by law, the Head Lessor and the Head Lessee, on its own behalf and on behalf of its successors and assigns, disclaim the application of fiduciary duties imposed on co-tenants, any right for reimbursement for repairs and improvements made by a co-tenant, and any right to a share of rents or profits generated by a co-tenant.
