Current Leases Clause Samples
The 'Current Leases' clause defines the status and details of any existing leases affecting the property at the time of the agreement. It typically requires the seller to disclose all active lease agreements, including tenant names, lease terms, and any relevant obligations or rights. This clause ensures that the buyer is fully informed about ongoing tenancies, helping to prevent disputes and clarify the buyer’s responsibilities regarding existing tenants after the transaction.
Current Leases. Landlord represents that (a) the Premises are currently leased (the “Current Leases”) to Reset Therapeutics, Inc. (the “Current Tenant”), and (b) such lease is scheduled to expire on February 28, 2018.
Current Leases. Seller is currently using the Property a a residential rental property. The Property contains one rental unit, which is occupied pursuant to a written lease (the “Lease”). Seller has not received any notice from the tenant under the Lease terminating the Lease or claiming any default by the Seller. At Buyer’s request, Seller shall seek to obtain (i) written confirmation from the tenant of the Lease terms and no landlord default and
Current Leases. From and after the Closing, Sellers agree to continue to lease the building owned by them to the Company on a month-to-month "triple net lease" basis upon substantially the same terms and conditions (including a monthly rent of $5,000) subject to which Sellers currently lease such building to the Company. Sellers and the Company shall terminate the lease between them with respect to the airplane owned by Sellers.
Current Leases. The Property is not currently subject to any farm lease, hunting lease, or other lease entitling the lessee to possession or use of the Property, excluding mineral rights. In addition, Seller has not entered into any farm lease, hunting lease, or other lease entitling the lessee to possession or use of the Property in any future years.
Current Leases. Landlord represents that (a) the Premises are currently leased to Amgen, Inc., and (b) such lease is scheduled to expire on December 31, 2023.