Draft Lease Sample Clauses

A Draft Lease clause outlines the preliminary terms and conditions of a proposed lease agreement before it is finalized and executed by the parties. This clause typically details the key elements such as the rental amount, duration, permitted use, and any special conditions that will be included in the final lease. By providing a clear framework for negotiation and review, the Draft Lease clause helps both parties understand their prospective rights and obligations, reducing misunderstandings and facilitating a smoother path to a binding agreement.
POPULAR SAMPLE Copied 2 times
Draft Lease. Landlord has provided to Tenant, for Tenant’s review and approval, a draft of the proposed lease agreement for proposed new premises (the “Draft Lease”). Landlord and Tenant agree to cooperate in good faith to expedite the submission, review and any revisions of the Draft Lease. Notwithstanding the foregoing, if the Draft Lease has not been approved and executed by both parties (in their respective sole and absolute discretion) on or before September 30, 2016 (the “Lease Termination Date”) and Tenant has not vacated the Premises in accordance with the Lease on or before the Lease Termination Date, then the Lease Term (under the Lease) shall automatically be extended on a month-to-month basis for a period of not to exceed three (3) months, to expire on December 31, 2016 (the “Extension Date”) during which time Landlord and Tenant agree to continue to cooperate in good faith to expedite the submission, review and any revisions of the Draft Lease. If Landlord and Tenant approve and execute the Draft Lease, then the Lease Term (under the Lease) shall automatically be extended on a month-to-month basis at the then current Base Rent, until the Commencement Date (as such term will be defined in the Draft Lease) of the new premises. If Landlord and Tenant have not approved and executed the Draft Lease (in their respective sole and absolute discretion) on or before the expiration of the Extension Date, then Landlord shall be entitled to receive (and Tenant shall be obligated to pay) the current monthly Base Rent plus ten percent of the current monthly Base Rent the holdover rent in accordance with Section 4.3 of the Lease from the Lease Termination Date until the date on which Tenant vacates the Premises. in accordance with the Lease Agreement. (in addition to all other rights provided to Landlord in the Lease with respect to Tenant holding over), such holdover amount to be paid by Tenant as Additional Rent. Each party acknowledges and agrees that it has waived any other and all rights and/or remedies of whatsoever kind or nature with respect to the failure of the New Lease to be executed on or before the Lease Approval Date. either parties failure to execute, in its sole discretion, the proposed Draft Lease.
View Source

Related to Draft Lease

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • Agreement to Lease Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, according to the terms and conditions set forth herein, the Premises.

  • Existing Leases (1) Exhibit "E" sets forth a true, correct and complete list of the Existing Leases for the related Premises and the information with respect to the Existing Leases set forth in Exhibit "E" hereto is true, correct and complete in all material respects, (2) no tenants are entitled to any rebates, rent concessions or free rent except as may be expressly set forth in the Existing Leases or on Exhibit "E", (3) no rents due under any of the Existing Leases are presently assigned, hypothecated or encumbered by Seller, other than in connection with any mortgage encumbering the Premises which shall be satisfied in connection with the closing for the Property in question, (4) there are no unpaid brokerage commissions or unpaid landlord obligations for tenant improvements in connection with the current term of occupancy of tenants under the Existing Leases, (5) no rent under any of the Existing Leases has been prepaid (except for rental for the current month and payments that are required to be made in advance pursuant to the terms and provisions of the Existing Leases and except for prepayments set forth either in the Existing Leases or as set forth on Exhibit "E"), (6) as of the Closing Date no Existing Lease shall be terminated by agreement with the tenant (except by reason of a default by the tenant thereunder or except for notices given to indicate the landlord's intention not to permit the term of the lease to continue or be renewed for an additional term), (7) no tenant has notified Seller in writing of its intent to terminate its lease prior to expiration of the term of such lease, (8) no written notice of any default under the Existing Leases has been given or received by the related Seller, and (9) the copies of the Existing Leases delivered to Buyer are true, correct and complete copies thereof.

  • Lease Agreements 13.1 The Customer shall provide FPL a copy of the lease agreement, as applicable, for any and all leased interconnection equipment. 13.2 The Customer shall not enter into any lease agreement that results in the retail purchase of electricity; or the retail sale of electricity from the Customer-owned renewable generation. Notwithstanding this restriction, in the event it is determined by the Florida Public Service Commission that the Customer has entered such an agreement, the Customer shall be in breach of this Interconnection Agreement and the lessor may become subject to the jurisdiction and regulations of the Florida Public Service Commission as a public utility.

  • Ground Lease (a) Each Ground Lease contains the entire agreement of the Borrower or the applicable Subsidiary Guarantor and the applicable owner of the fee interest in such Unencumbered Property (the “Fee Owner”), pertaining to the Unencumbered Property covered thereby. With respect to Unencumbered Property subject to a Ground Lease, the Borrower and the applicable Subsidiary Guarantors have no estate, right, title or interest in or to the Unencumbered Property except under and pursuant to the Ground Lease or except as may be otherwise approved in writing by Agent. The Borrower has delivered a true and correct copy of the Ground Lease to the Agent and the Ground Lease has not been modified, amended or assigned, with the exception of written instruments that have been recorded in the applicable real estate records for such Unencumbered Property. (b) The applicable Fee Owner is the exclusive fee simple owner of the Unencumbered Property, subject only to the Ground Lease and all Liens and other matters disclosed in the applicable title policy for such Unencumbered Property subject to the Ground Lease, and the applicable Fee Owner is the sole owner of the lessor’s interest in the Ground Lease. (c) There are no rights to terminate the Ground Lease other than the applicable Fee Owner’s right to terminate by reason of default, casualty, condemnation or other reasons, in each case as expressly set forth in the Ground Lease. (d) Each Ground Lease is in full force and effect and, to Borrower’s knowledge, no breach or default or event that with the giving of notice or passage of time would constitute a breach or default under any Ground Lease (a “Ground Lease Default”) exists or has occurred on the part of a Borrower or a Subsidiary Guarantor or on the part of a Fee Owner under any Ground Lease. All base rent and additional rent, if any, due and payable under each Ground Lease has been paid through the date hereof and neither Borrower nor any Subsidiary Guarantor is required to pay any deferred or accrued rent after the date hereof under any Ground Lease. Neither Borrower nor a Subsidiary Guarantor has received any written notice that a Ground Lease Default has occurred or exists, or that any Fee Owner or any third party alleges the same to have occurred or exist. (e) The Borrower or applicable Subsidiary Guarantor is the exclusive owner of the ground lessee’s interest under and pursuant to each Ground Lease and has not assigned, transferred or encumbered its interest in, to, or under the Ground Lease, except to Agent under the Loan Documents.