Composite Lease Clause Samples
A Composite Lease clause defines an agreement where multiple properties or units are leased under a single, unified contract. This clause typically outlines how rent, maintenance responsibilities, and other obligations are managed collectively for all included premises, rather than treating each unit separately. For example, a business leasing several office suites in one building might use a composite lease to streamline administration and payment processes. The core function of this clause is to simplify management and ensure consistency across multiple leased spaces, reducing administrative complexity and potential disputes over individual unit terms.
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Composite Lease. This Lease, although executed and delivered as a composite instrument for convenience, constitutes a separate lease and agreement between LANDLORD and TENANT with respect to Property One and Property Two, and all provision hereof shall be applicable separately to each Property, with the same effect as if a separate lease with respect thereto had been executed and delivered by LANDLORD and TENANT. If any such separate lease shall be terminated or extended pursuant to any provision hereof, such termination or extension shall have no effect upon the remaining lease. Upon request of LANDLORD or TENANT, a separate lease of either Property, in the same form as this Lease except for such mutually satisfactory modifications as shall be required by the fact that such lease relates only to one Property, will be executed and delivered by LANDLORD and TENANT.
Composite Lease. Within thirty (30) days after the Commencement Date, Tenant shall provide Landlord, for convenience of reference only, with a composite version of the Lease and its seven amendments, with page inserts at appropriate places incorporating all amended provisions, keyed to the Lease provisions so amended, together with all new provisions included in the subsequent seven Lease amendments.”
Composite Lease. This Lease, although executed and delivered as a composite instrument for convenience, constitutes a separate Lease and Agreement between the Lessor and the Lessee with respect to each Leased Property. All provisions of this Lease shall be applicable separately to each of the Leased Properties with the same effect as if a separate Lease with respect to each of the Leased Properties have been executed and delivered by the Lessor and the Lessee. Therefore, among other effects, an Event of Default with respect to an Individual Leased Property shall constitute an Event of Default with respect to each of the Collective Leased Properties. If any such separate lease shall be voluntarily terminated or extended pursuant to any provision hereof, such determination or extension shall have no effect upon the remaining leases. Upon the request of the Lessor or the Lessee, a separate lease of a Leased Property (a "Site Lease"), in the same form of this Lease except for such mutually satisfactory modifications as shall be required by the fact that such Lease relates only to such Leased Property, shall be executed, acknowledged and delivered by the Lessor and the Lessee, at the requesting party's sole expense (including the non-requesting party's reasonable attorneys fees, costs and expenses).