Existing Tenant. Landlord hereby represents and warrants that ▇▇▇▇▇▇▇▇, et al, Inc. (the “Existing Tenant”) currently has certain wheat farming rights at the Premises pursuant to that certain oral lease agreement currently in effect (the “Existing Tenant Lease”). At or prior to Rent Commencement Date, the Existing Tenant Lease shall be terminated and the Existing Tenant shall have no further rights related to the Premises. On or prior to the Rent Commencement Date, Tenant agrees to compensate the Existing Tenant for the fair market value of any wheat that Existing Tenant was unable to harvest in late summer 2008 as a result of Tenant’s leasing of the Premises less any expenses that Existing Tenant did not incur as a result of not harvesting such wheat; provided, however, that in no event will such payment by Tenant to the Existing Tenant exceed $15,000.
Appears in 2 contracts
Sources: Ground Lease Agreement (Campus Crest Communities, Inc.), Ground Lease Agreement (Campus Crest Communities, Inc.)