During the Lease Term. Party A shall pay the taxes imposed upon it by relevant laws and regulations.
During the Lease Term. Party A has a right to set up a mortgage, offer to compensate and exchange on the Leased Units, in whole or part, regardless of consent from Party B. The rights and obligations of Party B under the Contract shall not be affected by the Party A's activities as aforesaid.
During the Lease Term. Party A may not separately operate any other project competing with the Center either by itself or in cooperation with any third party.
During the Lease Term. Tenant shall maintain a commercial general liability policy of insurance, at Tenant's expense, insuring Landlord against liability arising out of the ownership, use, occupancy, or maintenance of the Demised Premises. The initial amounts of the insurance must be at least: $1,000,000 for Each Occurrence, $2,000,000 General Aggregate per policy year, $100,000 Property Damage for the Demised Premises, and $10,000 Medical Expense; plus a $5,000,000 commercial general liability umbrella; and shall be subject to periodic increases based upon economic factors as Landlord may determine, in Landlord's discretion, exercised in good faith. However, the amounts of the insurance shall not limit Tenant's liability nor relieve Tenant of any obligation under this Lease. The policies must contain cross-liability endorsements, if applicable, and must insure Tenant's performance of the indemnity provisions of Section 5.04. The policies must contain a provision which prohibits cancellation or modification of the policy except upon thirty (30) days' prior written notice to Landlord. Tenant may discharge Tenant's obligations under this Section by naming Landlord as an additional insured under a comprehensive policy of commercial general liability insurance maintained by Tenant and containing the coverage and provisions described in this Section. Tenant shall deliver a copy of the policy or certificate (or a renewal) to Landlord prior to the Commencement Date and prior to the expiration of the policy during the Lease Term. If Tenant fails to maintain the policy, Landlord may elect to maintain the insurance at Tenant's expense. Tenant may, at Tenant's expense, maintain other liability insurance as Tenant deems necessary to protect Tenant
During the Lease Term. Party A shall make sure the Premises and its ancillary facilities are under normal, usable and safe condition. If Party A intends to conduct inspection and maintenance of the Premises, Party A shall notify Party B X days in advance. During the inspection and maintenance, Party B shall cooperate with Party A and Party A shall minimize the impacts on Party B’s use of the Premises. (See Article 23.2
During the Lease Term. Lessor shall replace or have repaired at its own expense certain appliances, parts, instruments, appurtenances, accessories, furnishings, and other equipment or components of the Aircraft that may have become worn out, lost, stolen, destroyed, damaged or otherwise rendered unfit for use for any reason whatsoever. All such replacements or repairs installed on or incorporated into the Aircraft shall upon such installation or incorporation become the property of Lessor.
During the Lease Term. Tenant must pay annual rent in the following amounts during the Initial Term of the Lease (annual amounts to be paid in 12 equal monthly installments during each Lease Year): · Lease Year 1 $4 million · Lease Year 2 $4.1 million · Lease Year 3 $4.2 million · Lease Years 4, 5, 6 $4.3 million · Lease Years 7, 8, 9 $4.5 million · Lease Years 10, 11, 12 $4.635 million · Lease Years 13, 14, 15 $4.774 million · Lease Years 16, 17, 18 $4.887 million · Lease Years 19, 20, 21 $5.033 million · Lease Years 22, 23, 24 $5.183 million · Lease Years 25, 26, 27 $5.338 million · Lease Years 28, 29, 30 $5.498 million If Tenant exercises any or all of its three five-year extensions, annual rent will increase by three percent (3%) for each three-year period of any Extension Term (for example, if Tenant exercises the first of its three five-year options, annual rent during Lease Years 31, 32 and 33 will be $5.663 million, which is a three percent (3%) increase over $5.498 million, etc.).
During the Lease Term. Party A shall give a three days’ notice to Party B for any inspection or maintenance of the Leased/Preleased Premises. Party B shall give cooperation in such inspection and maintenance. Party A shall minimize the effect of such repair or maintenance on the use of the Leased/Preleased Premises by Party B.
During the Lease Term. Tenant shall maintain a commercial general liability policy of insurance, at Tenant's expense, insuring Landlord against liability arising out of the ownership, use, occupancy, or maintenance of the Demised Premises. The initial amounts of the insurance must be at least: $1,000,000 for Each Occurrence, $2,000,000 General Aggregate per policy year, $100,000 Property Damage for the Demised Premises, and $10,000 Medical Expense; plus a $5,000,000 commercial
During the Lease Term the Lessee may assign to any Subsidiary or Affiliate of the Lessee at any time, in whole or in part, any of its right, title or interest in, to or under the Lease or any portion of any Property; provided that no such assignment shall in any way discharge or diminish any of the Lessee's obligations to the Lessor hereunder and the Lessee shall remain directly and primarily liable under this Master Lease and each Lease Supplement. No such assignment shall be effective unless (a) made pursuant to assignment and assumption documents in form and substance satisfactory to the Lessor and the Lenders, (b) an opinion of counsel to the assignee is delivered to the Lessor and the Lenders as to the due authorization, execution and delivery, and the enforceability of such assignment and such other matters as the Lessor and the Lenders may request, (c) the use or uses of any such assignee shall be such that they do not impair the value or utility of such Property, as certified by a Responsible Officer of the Lessee; provided that such certification shall not be binding on the Lessor in the event the Lessee elects the Remarketing Option, and (d) the Lessee or such assignee shall have made all filings and taken all other actions necessary or desirable to preserve and protect the rights and interests of the Lessor, the Administrative Agent and the Lenders under the Operative Documents, all at the Lessee's sole cost and expense. The Lessee shall notify the Lessor promptly, and in any event not less than thirty (30) days prior to, the date of such assignment, and provide the Lessor and the Lenders with the terms of such proposed assignment.