Initial Lease Sample Clauses
The Initial Lease clause defines the starting period during which the lease agreement is in effect. It typically specifies the exact commencement and expiration dates of the lease, outlining the duration for which the tenant is entitled to occupy the premises under the agreed terms. This clause ensures both parties are clear on when the lease obligations begin and end, providing a definitive timeframe that helps prevent disputes over occupancy or renewal rights.
Initial Lease. In connection with the lease of any Financed Vehicles to be leased on the Lease Commencement Date (or, in the case of an Additional Lessee, the date of the initial Vehicle Order or Refinancing Schedule thereof), to evidence the refinancing of any Refinanced Vehicles and the acquisition and financing of any other Financed Vehicles by each Lessee on the Lease Commencement Date (or the date of such initial Vehicle Order) and the conveyance on such date of a security interest in such Financed Vehicles to the Master Collateral Agent, such Lessee shall deliver to the Lessor on or prior to the Lease Commencement Date (or the date of such initial Vehicle Order or Refinancing Schedule) the following:
(i) a Refinancing Schedule concerning any Refinanced Vehicles refinanced on such date, or a Vehicle Order (including a Vehicle Acquisition Schedule) with respect to all other Financed Vehicles to be leased by such Lessee on the Lease Commencement Date (or date of the initial Vehicle Order of such Additional Lessee, as applicable);
(ii) a report of the results of a search of the appropriate records of the county and state in which the Refinanced Vehicles are located and the county and state in which such Lessee’s principal office is located, which shall show no liens or other security interests (other than Permitted Liens) with respect to such Vehicles or, in the event that such search reveals any such non-permitted Lien or security interest, there shall be delivered to the Trustee a termination of such Lien or security interest as provided below;
(iii) confirmation from any lender holding a security interest in any Refinanced Vehicle stating unconditionally (A) that, if any sums are to be paid to such lender in connection with the lease of the Refinanced Vehicle, such lender has been paid the full amount due to it in connection with such refinancing and (B) that any lien or security interest of such lender in such Vehicle has been released;
(iv) UCC termination statements terminating, or UCC partial releases releasing, any security interests and other liens (other than Permitted Liens) in favor of any Person with respect to any related Vehicle Disposition Programs;
(v) fully executed Assignment Agreements from such Lessee covering, as applicable, each Financed Vehicle leased by such Lessee on the Lease Commencement Date or leased on any date thereafter under the Lease, the related Vehicle Disposition Programs, and any other Master Collateral relating to such Vehicles; ...
Initial Lease. In connection with the lease of any Financed Vehicles to be leased on the Lease Commencement Date (or, in the case of an Additional Lessee, the date of the initial Vehicle Order or Refinancing Schedule thereof), to evidence the refinancing of any Refinanced Vehicles and the acquisition and financing of any other Financed Vehicles by each Lessee on the Lease Commencement Date (or the date of such initial Vehicle Order) and the conveyance on such date of a security interest in such Financed Vehicles to the Master Collateral Agent, such Lessee shall have delivered to the Lessor on or prior to the Lease Commencement Date (or the date of such initial Vehicle Order or Refinancing Schedule) each of the documents set forth in Section 4.2 of the Base Lease and a Vehicle Order (including a Vehicle Acquisition Schedule) with respect to all Financed Vehicles (other than Refinanced Vehicles) to be leased by such Lessee on the Lease Commencement Date (or date of the initial Vehicle Order of such Additional Lessee, as applicable)
Initial Lease. Each of (i) the lease agreements that are set forth on Schedule 4 to the Security Agreement, (ii) the CAI Agreement and (iii) the Management Agreement.
Initial Lease. (a) Non-Anchor Tenants: Five (5%) percent of base aggregate lease rents up to ten (10) years;
(b) Anchor Tenants: To be determined on a deal-by-deal basis.
Initial Lease. Section 1.1(d)..........................3
Initial Lease. In connection with the Lease of the Refinanced Vehicles and any other Financed Vehicles to be leased on the Lease Commencement Date, to evidence the refinancing of the Refinanced Vehicles and the acquisition and financing of such other Financed Vehicles by the Lessor on the Lease Commencement Date and the conveyance on such date of a security interest in such Financed Vehicles to the Master Collateral Agent, the Lessee shall deliver to the Lessor on or prior to the Lease Commencement Date the following:
(i) a schedule concerning the Refinanced Vehicles as specified in Section 2.1 of the Base Lease, in the case of all Refinanced Vehicles, or a Vehicle Order (including a Vehicle Acquisition Schedule) with respect to all other Financed Vehicles to be leased by the Lessor on the Lease Commencement Date;
(ii) evidence, reasonably satisfactory to the Lessor and the Trustee that the Lessor has been designated as the Financing Source and the Trustee has been designated as the Beneficiary under the Master Collateral Agency Agreement with respect to the Refinanced Vehicles;
(iii) a fully executed Assignment Agreement with respect to each related Manufacturer Program; and
Initial Lease. In connection with the Lease of the Existing Fleet and any other Financed Vehicles to be leased on the Lease Commencement Date, to evidence the refinancing of the Vehicles in the Existing Fleet and the acquisition and financing of such other Financed Vehicles by the Lessor on the Lease Commencement Date and the conveyance on such date of a security interest in such Financed Vehicles to the Master Collateral Agent, the Lessee shall deliver to the Lessor on or prior to the Lease Commencement Date the following:
Initial Lease. In consideration of the increased Purchase Price set forth in Paragraph 4 above, if Purchaser, as landlord under the Initial Lease, terminates the Initial Lease pursuant to the terms and conditions set forth in Article 34 thereof, such termination shall be effective as of any date which occurs after the expiration of the eighteenth (18th) month anniversary of the Commencement Date (as such term is defined in the Initial Lease) by giving Club Tenant at least one hundred twenty (120) days’ prior notice of such termination. Seller and Purchaser agree that Article 34 in the form of Initial Lease to be executed by the parties at the Closing shall be revised in accordance with the provisions of this Paragraph 5. In addition, Seller and Purchaser agree to modify the Initial Lease and New Club Lease (as such term is defined in the Initial Lease) as follows: (i) Section 34.4 of the Initial Lease shall be revised by deleting “2,040 days” and substituting in its place and stead “1,860 days”; provided, however, that such one thousand eight hundred sixty (1,860) day period shall be increased by one (1) day for each day after the eighteenth (18th) month anniversary of the Commencement Date until the Early Termination Date occurs, provided further that such one thousand eight hundred sixty (1,860) day period shall not be increased to an amount greater than two thousand forty (2,040) days; (ii) Section 34.6 of the Initial Lease shall be revised by deleting “one hundred eighty (180) days” and substituting in its place and stead “one hundred twenty (120) days”; and (iii) Section 2.6 of the New Club Lease shall be revised by deleting “two thousand forty (2,040) days” and substituting in its place and stead “one thousand eight hundred sixty (1,860) days”; provided, however, that such one thousand eight hundred sixty (1,860) day period shall be increased by one (1) day for each day after the eighteenth (18th) month anniversary of the Commencement Date under the Initial Lease until the Early Termination Date under the Initial Lease occurs, provided further that such one thousand eight hundred sixty (1,860) day period shall not be increased to an amount greater than two thousand forty (2,040) days.”
Initial Lease