Master Leasing Clause Samples

Master Leasing. In the event (i) Agent obtains possession or control of the Property (whether through foreclosure, a deed in lieu of foreclosure, or upon the occurrence of an Event of Default), (ii) Agent presents Clarian Health Partners, Inc. (“Clarian”) (or any successor or affiliate of Clarian) with an executed letter of intent or a proposed lease (an “LOI”) with respect to a lease for any space in an Individual Property (as defined in Section 10 hereof) in which Clarian has the right to approve or disapprove such proposed tenant or lease, and (iii) Clarian does not approve of such proposed tenant or lease, then Guarantor agrees to execute a master lease with Borrower under which Guarantor leases the space which would otherwise be leased to such tenant on the terms contained in the LOI pursuant to a master lease reasonably satisfactory to Agent.

Master Leasing. Applies to a nonprofit or public agency that leases units of housing (scattered-sites or entire buildings) from a landlord, and subleases the units to homeless or low-income tenants. By assuming the tenancy burden, the agency facilitates housing of clients who may not be able to maintain a lease on their own due to poor credit, evictions, or lack of sufficient income. Operating Costs: Applies to facility-based housing only, for facilities that are currently open. Operating costs can include day- to-day housing function and operation costs like utilities, maintenance, equipment, insurance, security, furnishings, supplies and salary for staff costs directly related to the housing project but not staff costs for delivering services.