Intercompany Leases Clause Samples
The Intercompany Leases clause governs the terms and conditions under which affiliated companies within the same corporate group lease assets to one another. It typically outlines the procedures for setting lease payments, the responsibilities of each party regarding maintenance and insurance, and the process for amending or terminating the lease. By clearly defining these arrangements, the clause helps ensure compliance with legal and accounting standards, prevents disputes between related entities, and supports transparent financial reporting.
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Intercompany Leases. On the Closing Date or the applicable Subsequent Closing Date, the Company shall deliver the Purchased Assets free and clear of any lease or sublease agreements between any Affiliates of the Company, except for RediClinic in-store clinics as set forth in Section 6.21.
Intercompany Leases. On or prior to the Closing Date, the Sellers shall deliver the Purchased Assets free and clear of any lease or sublease agreements between any Seller or any Affiliate of a Seller, on the one hand, and Albertson’s or any Affiliate of Albertson’s, on the other hand.
Intercompany Leases. All real estate leases between the Sponsor or any its Subsidiaries and Affiliates, on the one hand, and the Company, CTBC or any of the other Subsidiaries of the Company, on the other hand, shall be renewed at the end of their present terms for four (4) additional five (5) year terms, with the rental payments payable during the first such renewal term being no greater than the current rates, adjusted for inflation from the base year for each such lease or from a base year of 1996, whichever is more favorable for the Company, as based on the IGP-M ("Indice Geral de Precos de M▇▇▇▇▇▇" ▇▇ the "Fundacao Getu▇▇▇ ▇▇▇▇▇▇" ▇▇ any other index that may replace the IGP-M), and the rentals for subsequent renewal terms being based on prevailing fair market arm's length rates for similar real properties.
Intercompany Leases. With respect to the leases for Leased Real Property set forth on Schedule 3.17, if the Share Seller provides written notice to the Buyers of its election to remain a tenant pursuant to any of such leases following the Closing Date, then the Buyers shall cause the Group Companies to permit the Share Seller or its applicable Affiliates to remain a tenant under such lease for up to six (6) months following the Closing (or, if shorter, the period remaining with respect to the underlying lease) on the same terms (including rent) set forth in such lease.