Common use of Lease of the Leased Property Clause in Contracts

Lease of the Leased Property. The Trustee demises and leases the Leased Property to the City and the City leases the Leased Property from the Trustee, in accordance with the provisions of this Lease, subject only to Permitted Encumbrances, to have and to hold for the Lease Term. The City and the Trustee acknowledge that the City owns the Leased Property and the City has leased the Leased Property to the Trustee pursuant to the Site Lease; and the City and the Trustee intend that there be no merger of the City’s interests as sublessee under this Lease and the City’s ownership interest in the Leased Property so as to cause the cancellation of the Site Lease or this Lease, or an impairment of the leasehold and subleasehold interest intended to be created by the Site Lease and this Lease.

Lease of the Leased Property. The Trustee demises and leases the Leased Property to the City Town and the City Town leases the Leased Property from the Trustee, in accordance with the provisions of this Lease, subject only to Permitted Encumbrances, to have and to hold for the Lease Term. The City Town and the Trustee acknowledge that the City Town owns the Leased Property and the City Town has leased the Leased Property to the Trustee pursuant to the Site Lease; and the City Town and the Trustee intend that there be no merger of the CityTown’s interests as sublessee under this Lease and the CityTown’s ownership interest in the Leased Property so as to cause the cancellation of the Site Lease or this Lease, or an impairment of the leasehold and subleasehold interest intended to be created by the Site Lease and this Lease.

Lease of the Leased Property. The Trustee demises and leases the Leased Property to the City District and the City District leases the Leased Property from the Trustee, in accordance with the provisions of this Lease, subject only to Permitted Encumbrances, to have and to hold for the Lease Term. The City District and the Trustee acknowledge that the City District owns the Leased Property and the City District has leased the Leased Property to the Trustee pursuant to the Site Lease; and the City District and the Trustee intend that there be no merger of the CityDistrict’s interests as sublessee under this Lease and the CityDistrict’s ownership interest in the Leased Property so as to cause the cancellation of the Site Lease or this Lease, or an impairment of the leasehold and subleasehold interest intended to be created by the Site Lease and this Lease.