LEASE FACILITY Clause Samples

The LEASE FACILITY clause defines the terms under which a property or asset is made available for use by a lessee in exchange for payment. It typically outlines the specific facilities or premises being leased, the duration of the lease, and any conditions or restrictions on use. For example, it may specify access rights, maintenance responsibilities, or permitted activities within the leased space. The core function of this clause is to clearly establish the rights and obligations of both parties regarding the use of the facility, thereby preventing disputes and ensuring both parties understand the scope of the lease arrangement.
LEASE FACILITY. Upon and subject to the terms and conditions hereof and of that certain Master Lease Agreement and related documents attached hereto as Exhibit No. 1 (the "Master Lease Agreement"), GE Capital will purchase and lease to Aladdin Gaming certain new furniture and equipment (other than Gaming Equipment) selected by Aladdin Gaming for use by Aladdin Gaming in connection with the Aladdin Hotel and Casino having an aggregate acquisition cost not in excess of $60,000,000 (the "Lease Facility").
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LEASE FACILITY. 2 2.01. Acquisition, Lease, Amount Limitations, Etc. ..............2 2.02. Participation Agreement....................................4 2.03. Advance Requests...........................................5 2.04. Fees.......................................................7 2.05.
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LEASE FACILITY. The Authority being a Landlord shall provide the Investor with facilities for Lease or other type of facility that may be built in future subject to the availability within the SRTI Park.
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LEASE FACILITY. (a) Lessor's agreement to provide up to $5,000,000 in lease financing (the "Lease Facility") shall terminate on September 30, 1997 and shall be subject, with respect to each draw-down under such Lease Facility pursuant to a Lease Supplement (a "Closing"), to the conditions specified below in this Section 2A. (b) The obligation of Lessor to make advances under the Lease Facility pursuant to a Lease Supplement at a Closing is subject to the satisfaction of all of the following conditions: (i) Lessor shall have received (A) the Lease Supplement for the Set of Equipment to be leased at such Closing and (B) all of the other related Lease Documents (collectively, with the foregoing, the "Closing Documents"), duly executed and delivered by all parties thereto, and all actions contemplated by the foregoing documents shall have been accomplished to the satisfaction of Lessor and its counsel. (ii) All warranties and representations of Lessee in the Closing Documents shall be true and accurate on the date of such Closing as if then given, and there shall be no Default or Event of Default under this Lease or any Closing Document. (iii) Lessor shall have received certificates of Lessee, dated as of the Closing date, in form and content satisfactory to Lessor, stating the substance of the foregoing Section 2A(b)(ii) and attaching such organizational documents as Lessor may request. (iv) Lessor shall be satisfied with the results of UCC and other lien searches against Lessee. (v) Lessor shall have received and be satisfied with insurance binders or certificates of insurance coverage maintained by Lessee and naming Lessor as loss payee and/or additional insured. (vi) There shall be no material adverse change, in the good faith judgment of Lessor, in Lessee's (i) financial condition as reflected in the then current financial statements required to be delivered by Lessee hereunder, relative to such statements as were delivered by Lessee in connection with any prior Closing or as of the date hereof or (ii) results of operations, business conditions, prospects or properties, relative to Lessee's results of operations, business conditions, prospects or properties as of the date of any prior Closing or as of the date hereof. (vii) Lessor shall have received all other documents, financial statements and assurances required hereunder or that it may reasonably request in connection with the transactions contemplated for such Closing, and such documents shall be certified, when app...
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LEASE FACILITY 
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Related to LEASE FACILITY

  • Office Space, Equipment and Facilities Provide such office space, office equipment and office facilities as are adequate to fulfill the Adviser’s obligations hereunder.

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted. (b) The Company does not own any real property or any interest in real property, except for the leasehold created under the real property lease identified in Part 2.10 of the Disclosure Schedule.

  • Existing Facilities Each of the Existing Facilities shall be repaid in full and terminated and all collateral security therefor shall be released, and the Administrative Agent shall have received pay-off letters in form and substance satisfactory to it evidencing such repayment, termination and release.

  • Equipment and Facilities For On-Site Courses, you will supply the facility and equipment as set forth at ▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇. If Red Hat agrees to provide the training facilities and hardware, you will be liable for any loss or destruction of this equipment and hardware used in connection with the Training.

  • Operating Lease (i) Each Borrower shall (a) promptly perform and observe all of the covenants required to be performed and observed by it under the Operating Leases and do all things necessary to preserve and to keep unimpaired its material rights thereunder; (b) promptly notify Lender of any material default under any Operating Lease of which it is aware; (c) promptly deliver to Lender a copy of any notice of default or other material notice under any Operating Lease delivered to any Operating Lessee by Borrower; (d) promptly give notice to Lender of any notice or information that Borrower receives which indicates that an Operating Lessee is terminating its Operating Lease or that any Operating Lessee is otherwise discontinuing its operation of the applicable Individual Property; and (e) promptly enforce the performance and observance of all of the material covenants required to be performed and observed by the Operating Lessee under the applicable Operating Lease. (ii) If at any time, (A) an Operating Lessee shall become insolvent or a debtor in a bankruptcy proceeding or (B) Lender or its designee has taken title to an Individual Property by foreclosure or deed in lieu of foreclosure, has become a mortgagee-in-possession, has appointed a receiver with respect to the applicable Individual Property or has otherwise taken title to such Individual Property, Lender shall have the absolute right to (and Borrower and Operating Lessee shall reasonably cooperate and not in any way hinder, delay or otherwise interfere with Lender’s right to), immediately terminate the applicable Operating Lease under and in accordance with the terms of the applicable Subordination, Attornment and Security Agreement. (iii) Borrower shall not, without the prior written consent of Lender, which consent shall not be unreasonably withheld: (a) surrender, terminate or cancel any Operating Lease or otherwise replace any Operating Lessee or enter into any other operating lease with respect to any Individual Property, provided, however, at the end of the term of each Operating Lease, the applicable Borrower may renew such Operating Lease or enter into a replacement Operating Lease with Operating Lessee on substantially the same terms as the expiring Operating Lease except that Lender shall have the right to approve any material change thereto; (b) reduce or consent to the reduction of the term of any Operating Lease; or (c) enter into, renew, amend, modify, waive any provisions of, reduce Rents under, or shorten the term of any Operating Lease.