Lessor Covenants Sample Clauses
The Lessor Covenants clause outlines the specific promises and obligations that the property owner (lessor) agrees to uphold during the lease term. These covenants typically include maintaining the premises in good repair, ensuring compliance with applicable laws, and providing the tenant with quiet enjoyment of the property. For example, the lessor may be required to fix structural issues or maintain common areas. The core function of this clause is to clearly define the lessor’s responsibilities, thereby protecting the tenant’s rights and ensuring the property remains suitable for its intended use throughout the lease.
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Lessor Covenants. Lessor covenants and agrees that during the term of the Lease, it shall;
(A) not change, cancel or surrender its Certificate of Incorporation or amend its By-Laws from the forms attached as Exhibits A and B, respectively;
(B) comply at all times with all requirements imposed on it by Lender pursuant to the Rent Purchase Agreement;
(C) maintain itself as a limited purpose corporation whose sole activity consists of leasing the Property to Lessee pursuant to this Agreement;
(D) maintain books, records and financial statements separate from its shareholders or any of them or any of their Affiliates;
(E) strictly observe corporation formalities in its dealings with Lender, Lessee, its Shareholders or any of their Affiliates;
(F) maintain its assets in a manner which facilitates their identification and segregation from those of its shareholders or their affiliates;
(G) maintain separate bank accounts and not commingle its funds with those of any other person;
(H) obtain an initial equity cash contribution of not less than $200,000 on or before September 30, 1999, which contribution may come from fees to lessor associated with this Lease transaction, which may be invested with or loaned to a third party; provided, however, 49 Lessor shall not make any distribution to its owners until its obligations to Lessee under this Lease, and the Purchase and Sale Agreement are satisfied except to reimburse its owners for income taxes payable by its owners on Lessor's taxable income and shall maintain a sufficient cash balance to pay all expenses as they become due; and
(I) deliver to Lessee on September 30, 1999 a duly authorized, executed and binding guarantee of TransCapital Corporation in a form acceptable to Lessee.
Lessor Covenants. 9.1. Lessor shall have the right, at its sole cost, responsibility, and expense, to make at any time alterations to Leased Premises and to construct other improvements on Leased Premises (“Lessor Improvements”) provided that Lessee’s prior written consent has been obtained (which consent shall not be unreasonably withheld, delayed or conditioned), and so long as such alterations do not materially impair the use of the 2024 Tax-Exempt Facilities by Lessee for the purposes herein described and so long as same are in compliance with all requirements of the Ground Lease.
9.2. Lessee’s rights to operate under this Facilities Lease and the right of Lessee to quiet enjoyment in Section 9.4 hereof shall not be unreasonably impeded by Lessor, or its customers or tenants. In addition, if Lessor, or its customers or tenants, desire to construct, operate, or otherwise engage in a facility to perform activities similar to the activities contemplated by this Facilities Lease, including for handling liquid hydrocarbon products, refined or unrefined petroleum products, or similar products (including crude oil, diluents, diesel) by rail, truck, pipeline or water-borne means, said operations may be commenced by Lessor, or its customers or tenants, only outside of the Leased Premises and only upon mutual consent between ▇▇▇▇▇▇ and Lessor, which consent shall not be unreasonably withheld, delayed or conditioned.
9.3. Lessor shall pay for all labor and services performed for, materials used by or furnished to Lessor, or used by or furnished to any contractor employed by Lessor with respect to any construction of any Lessor Improvements and hold Lessee and the 2024 Tax-Exempt Facilities harmless and free from any liens, claims, encumbrances or judgments created by or under Lessor. If Lessor elects to post a payment or performance bond or is required to post an improvement bond with a public agency in connection with the above, ▇▇▇▇▇▇ agrees to include ▇▇▇▇▇▇ as an additional obligee thereunder.
9.4. Lessor is and shall remain for the Lease Term hereof the true and lawful owner of the 2024 Tax-Exempt Facilities, and has good right and full power to let and lease the 2024 Tax-Exempt Facilities. ▇▇▇▇▇▇ agrees that, contingent upon ▇▇▇▇▇▇’s compliance with the terms of this Facilities Lease such that no Event of Default has occurred and is continuing, Lessee shall quietly and peaceably hold, possess and enjoy the 2024 Tax-Exempt Facilities for the full Lease Term of this Facilities...
Lessor Covenants. Lessor agrees that it: (a) shall continue to operate and manage each Property in the same manner in which Lessor has previously operated and managed such Property; (b) shall, subject to Section 7 hereof and subject to reasonable wear and tear, maintain each Property in the same (or better) condition as exists on the date hereof; and (c) shall not, without Lessee’s prior written consent, which, after the expiration of the Due Diligence Period may be withheld in Lessee’s sole discretion: (i) amend the Leases or the Guaranties in any manner, nor enter into any new lease, other than the Ground Leases and the Pinnacle Leases, license agreement or other occupancy agreement with respect to any Property; (ii) consent to an assignment of any Lease or a sublease of the premises demised thereunder or a termination or surrender thereof; (iii) terminate any Lease or release any guarantor of or security for any Lease unless required by the express terms of such Lease; and/or (iv) cause, permit or consent to an alteration of the premises demised under the Leases (unless such consent is non-discretionary). Lessor shall promptly inform Lessee in writing of any material event adversely affecting the ownership, use, occupancy or maintenance of any Property, whether insured or not.
Lessor Covenants. Lessor makes the following covenants to Lessee.
(a) Throughout the Term and any extensions thereof, Lessor and its officers, employees, contractors, agents, tenants, subtenants, servants, licensees and invitees shall not interfere or allow a third party to interfere with the solar patterns affecting the Permitted Improvements.
(b) [Intentionally omitted.]
Lessor Covenants. (a) The Lessor covenants that the Leased Premises constituting part of the Budding Premises is structurally sound and otherwise on an "as is" condition on the occupancy date.
(b) The Lessor warrants that all plumbing, heating, air conditioning, electrical and mechanical systems and loading doors are in working condition as at the commencement date of this Lease.
(c) In the event the roof top mounted air conditioning system(s) should fail during the first year of the Term, requiring either replacement of the unit, motor or a compressor, then the Lessor will pay the cost of such replacement This obligation does not apply to any such failure after March 31, 1997.
Lessor Covenants. Subject to the terms and conditions herein expressed, Lessor makes the following covenants to Lessee.
(a) Throughout the Term and any extensions thereof, except as expressly set forth in Article 7 and Section 8.2, Lessor and its officers, employees, contractors, agents, tenants, subtenants, servants, licensees and invitees shall not interfere or allow a third party to interfere with the Permitted Improvements.
(b) Throughout the term and any extensions thereof, Lessor shall use reasonable efforts not to allow any plantings or buildings on or near the Property, nor allow any waste to accumulate on the Premises, which would affect the insolation reaching the Solar Energy Facility. If the Lessor determines that plantings or buildings on or near the Property are desirable, then the Parties will negotiate in good faith to minimize their affect on the insolation reaching the Solar Energy Facility.
(c) Throughout the Term and any extensions thereof, as provided in Section 11.1, Lessor shall protect Lessee’s rights of quiet enjoyment.
(d) Throughout the Term and any extensions thereof, Lessor shall perform all of its obligations under the Post-Closure Environmental Monitoring Plan and any other Applicable Legal Requirements and as further set forth in Exhibit C attached hereto.
(e) Lessor shall promptly inform Lessee of the occurrence of any event that materially and adversely affects the operation of the Solar Energy Facility or the performance of Lessor’s obligations under this Lease (including, but not limited to, any notices of default under any third party contract and the occurrence of any event that may result in the imposition of material liability or obligations on Lessee or Lessor under any Environmental Law).
(f) Lessor shall provide Lessee such other information as Lessee may reasonably request in order to review Lessor’s compliance with the terms of this Lease.
Lessor Covenants. The Lessor hereby covenants and agrees that the Lessee is entitled to the quiet enjoyment of the Aircraft without any interference or interruption by Lessor or its representatives for the term of this Lease.
Lessor Covenants. Lessor covenants that:
(a) there is good and sufficient access to the leased premises from a public highway;
(b) all reservoirs, pumps, ▇▇▇▇▇, casings, pipes, fittings, and related facilities in connection with the irrigation system are in good working condition;
(c) Lessor shall not during the term of this lease take water by pumping or any other means from the property or from beneath the property, or pursuant to any riparian or other rights of Lessor in or to the ▇▇▇▇▇▇▇ River, nor grant the right so to do to any other person.
(d) Lessor has the right to make this lease and Lessee, on paying the rent and performing all its obligations in this lease shall peacefully and quietly have, hold and enjoy the leased premises throughout the lease term or unless sooner terminated as provided herein.
(e) Lessor's title to the leased premises is such that Lessee will be able to obtain at standard rates a California Land Title Association Standard Coverage Form of title insurance policy on its leasehold interest showing as exceptions a lien for taxes not due, and exceptions as may be approved in writing by Lessee.
(f) Lessor shall not during the term hereof sell or agree to sell, any part or all of the leased premises except according to the terms of this agreement.
(g) The leased premises and the adjacent property are the subject of that certain Land Conservation Agreement between Lessor and the County of Monterey, dated February 26, 1968 and recorded February 29, 1968, in Reel 545 page 861 of the official records of the County of Monterey (hereinafter called the Conservation Agreement). Lessor covenants and agrees to make no "Notice of Nonrenewal" or any request for cancellation as provided in paragraphs ___ and ___ of the Conservation Agreement, nor to do any other act or fail to do any act when to do so or fail to do so would result in the termination of the Conservation Agreement or alteration of any of the terms or conditions thereof, unless the consent in writing of Lessee is first had and obtained.
Lessor Covenants. The Lessor covenants and agrees as follows: