Common use of Improvement Advances Clause in Contracts

Improvement Advances. At any time during that portion of the Term commencing on the Commencement Date and expiring June 30, 1998, Landlord agrees to advance to Tenant, from time to time, as hereinafter provided, an aggregate amount of up to Two Million Five Hundred Thousand Dollars ($2,500,000) for the purpose of making Capital Additions and Non-Capital Additions to the Collective Lease Properties. The obligation of Landlord to make each advance pursuant to this Section 6.5 shall be subject to the prior or simultaneous satisfaction of the following conditions:

Appears in 2 contracts

Samples: Master Lease Agreement (Senior Housing Properties Trust), Master Lease Agreement (Brookdale Living Communities Inc)

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Improvement Advances. At any time during that portion of the Term commencing on the Commencement Date and expiring June 30, 1998one year thereafter, Landlord agrees to advance to Tenant, from time to time, as hereinafter provided, an aggregate amount of up to Three Million Two Million Five Hundred Fifty Thousand Dollars ($2,500,0003,250,000) for the purpose of making Capital Additions and Non-Capital Additions improvements to the Collective Lease Properties. Leased Property in 51 -42- accordance with Exhibit B. The obligation of Landlord to make each advance pursuant to this Section 6.5 6.2 shall be subject to the prior or simultaneous satisfaction of the following conditions:

Appears in 1 contract

Samples: Lease Agreement (Wyndham Hotel Corp)

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Improvement Advances. At any time during that portion of the Term commencing on the Commencement Date and expiring June 30, 1998one year thereafter, Landlord agrees to advance to Tenant, from time to time, as hereinafter provided, an aggregate amount of up to Three Million Two Million Five Hundred Fifty Thousand Dollars ($2,500,0003,250,000) for the purpose of making Capital Additions and Non-Capital Additions improvements to the Collective Lease Properties. Leased Property in accordance with Exhibit B. The obligation of Landlord to make each advance pursuant to this Section 6.5 6.2 shall be subject to the prior or simultaneous satisfaction of the following conditions:

Appears in 1 contract

Samples: Lease Agreement (Hospitality Properties Trust)

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