Common use of PARTNERSHIP TENANT Clause in Contracts

PARTNERSHIP TENANT. 53. If Tenant is a partnership (or is comprised of two (2) or more persons, individually and as co-partners of a partnership) or if Tenant's interest in this Lease shall be assigned to a partnership (or to two (2) or more persons, individually and as co-partners of a partnership) pursuant to any provision herein, (any such partnership and such persons are referred to in this section as "Partnership Tenant"), the following provisions of this Section shall apply to such Partnership Tenant; (a) the liability of each of the parties comprising Partnership Tenant shall be joint and several, and (b) each of the parties comprising Partnership Tenant hereby consents in advance to, and agrees to be bound by, any modifications of this Lease which may hereafter be made and by any notices, demands, requests or other communications which may hereafter be given by Partnership Tenant or by any of the parties comprising Partnership Tenant, and (c) any bills, statements, notices, demands, requests and other communications given or rendered to Partnership Tenant or to any of the parties comprising Partnership Tenant shall be deemed given or rendered to Partnership; Tenant and to all parties comprising partnership tenant and shall be binding upon Partnership Tenant and all such parties, and (d) if Partnership Tenant shall admit new general partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed performance of all of the terms, covenants and conditions of this Lease on Tenant's part to be observed and performed, and (e) Partnership Tenant shall give prompt notice to Landlord of the admission of any such new partners.

Appears in 1 contract

Samples: Pt 1communications Inc

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PARTNERSHIP TENANT. 53. If Tenant is a partnership or a professional corporation (or is comprised of two (2) or more personsPersons, individually and or as co-partners of a partnershippartnership or shareholders of a professional corporation) or if Tenant's ’s interest in this Lease shall be assigned to a partnership or a professional corporation (or to two (2) or more personsPersons, individually and or as co-partners of a partnershippartnership or shareholders of a professional corporation) pursuant to any provision herein, Article 12 hereof (any such partnership partnership, professional corporation and such persons Persons are referred to in this section Article 29 as "Partnership Tenant"), the following provisions of this Section shall apply to each such Partnership Tenant; : (a) the liability of each of the parties comprising Partnership Tenant shall be joint and severalpersonally liable for the obligations of Tenant hereunder, and except that to the extent that a permitted assignee pursuant to Article 12 hereof shall be an accounting firm or a law firm the individual partners or shareholders of such permitted assignee shall not be personally liable for the obligations of Tenant hereunder; (b) each of the parties comprising Partnership Tenant hereby consents in advance to, and agrees to be bound by, by (x) any modifications of this Lease written instrument which may hereafter be made executed by Partnership Tenant or any successor partnership, changing, modifying, extending or discharging this Lease, in whole or in part, or surrendering all or any part of the Premises to Landlord (except for any instrument which contradicts subparagraph (a) above), and by (y) any notices, demands, requests or other communications which may hereafter be given by Partnership Tenant or by any of the parties comprising Partnership Tenant, ; and (c) any bills, statements, notices, demands, requests and or other communications given or rendered to Partnership Tenant or to any of the such parties comprising Partnership Tenant shall be deemed given or rendered to Partnership; Tenant and to all parties comprising partnership tenant and shall be binding upon Partnership Tenant and all such parties, and (d) if Partnership Tenant shall admit new general partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed performance of all of the terms, covenants and conditions of this Lease on Tenant's part to be observed and performed, and (e) Partnership Tenant shall give prompt notice to Landlord of the admission of any such new partners.

Appears in 1 contract

Samples: Agreement of Lease (Kbw, Inc.)

PARTNERSHIP TENANT. 53Section 28.01. If Tenant is a partnership or professional corporation or limited liability company (or is comprised of two (2) or more persons, individually and as co-partners of a partnershippartnership or shareholders of a professional corporation or members of a limited liability company) or if Tenant's interest in this Lease shall be assigned to a partnership or professional corporation or limited liability company (or to two (2) or more persons, individually and as co-partners of a partnershippartnership or shareholders of a professional corporation or members of a limited liability company) pursuant to any provision herein, Article 11 (any such partnership partnership, professional corporation, limited liability company and such persons are referred to in this section Section as "Partnership Tenant"), the following provisions of this Section shall apply to such Partnership Tenant; : (a) the liability of each of the parties comprising Partnership Tenant shall be joint and several, and (bi) each of the parties persons comprising Partnership Tenant, whether or not such person shall be one of the persons comprising Tenant at the time in question, hereby consents in advance to, and agrees to be bound by, any modifications of this Lease written instrument which may hereafter be made executed, changing, modifying or discharging this Lease, in whole or in part, or surrendering all or any part of the Demised Premises to Owner, and by any notices, demands, requests or other communications which may hereafter be given by Partnership Tenant or by any of the parties persons comprising Partnership Tenant, and (cii) any bills, statements, notices, demands, requests and or other communications given or rendered to Partnership Tenant or to any of the parties persons comprising Partnership Tenant shall be deemed given or rendered to Partnership; Partnership Tenant and to all parties comprising partnership tenant such persons and shall be binding upon Partnership Tenant and all such parties, and (d) if Partnership Tenant shall admit new general partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed performance of all of the terms, covenants and conditions of this Lease on Tenant's part to be observed and performed, and (e) Partnership Tenant shall give prompt notice to Landlord of the admission of any such new partnerspersons.

Appears in 1 contract

Samples: GTJ REIT, Inc.

PARTNERSHIP TENANT. 5343. If Tenant is a general partnership (or is comprised of two (2) or 2)or more persons, individually and or as co-partners of a general partnership) or if Tenant's ’s interest in this Lease lease shall be assigned to a general partnership (or to two (2) or more persons, individually and or as co-partners of a general partnership) pursuant to any provision herein, Article 21 (any such general partnership and such persons are referred to in this section Section as "Partnership Tenant"), the following provisions of this Section shall apply to such Partnership Tenant; : (a) the liability of each of the parties comprising Partnership Tenant shall be joint and several, and (b) each of the parties comprising Partnership Tenant hereby consents in advance to, and agrees to be bound by, any modifications of this Lease lease which may hereafter be made made, and by any notices, demands, requests or other communications which may hereafter be given given, by Partnership Tenant or by any of the parties comprising Partnership Tenant, and (c) any bills, statements, notices, demands, requests and other communications given or rendered to Partnership Tenant or to any of the parties comprising Partnership Tenant shall be deemed given or rendered to Partnership; Partnership Tenant and to all such parties comprising partnership tenant and shall be binding upon Partnership Tenant and all such parties, and (d) if Partnership Tenant shall admit new general partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed performance of of, and agreed to be bound by, all of the terms, covenants and conditions of this Lease lease on Tenant's ’s part to be observed and performed, and (e) Partnership Tenant shall give prompt notice to Landlord of the admission of any such new partners.

Appears in 1 contract

Samples: Sublease Agreement (Ophthotech Corp.)

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PARTNERSHIP TENANT. 53. If Tenant is a partnership or a professional corporation (or is comprised of two (2) or more personsPersons, individually and or as co-partners of a partnershippartnership or shareholders of a professional corporation) or if Tenant's ’s interest in this Lease shall be assigned to a partnership or a professional corporation (or to two (2) or more personsPersons, individually and or as co-partners of a partnershippartnership or shareholders of a professional corporation) pursuant to any provision herein, Article 12 hereof (any such partnership partnership, professional corporation and such persons Persons are referred to in this section Article 29 as "Partnership Tenant"), the following provisions of this Section shall apply to each such Partnership Tenant; : (a) the liability of each of the parties comprising Partnership Tenant shall be joint and several, and personally liable for the obligations of Tenant hereunder; (b) each of the parties comprising Partnership Tenant hereby consents in advance to, and agrees to be bound by, by (x) any modifications of this Lease written instrument which may hereafter be made executed by Partnership Tenant or any successor partnership, changing, modifying, extending or discharging this Lease, in whole or in part, or surrendering all or any part of the Premises to Landlord (except for any instrument which contradicts subparagraph (a) above), and by (y) any notices, demands, requests or other communications which may hereafter be given by Partnership Tenant or by any of the parties comprising Partnership Tenant, ; and (c) any bills, statements, notices, demands, requests and or other communications given or rendered to Partnership Tenant or to any of the such parties comprising Partnership Tenant shall be deemed given or rendered to Partnership; Tenant and to all parties comprising partnership tenant and shall be binding upon Partnership Tenant and all such parties, and (d) if Partnership Tenant shall admit new general partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed performance of all of the terms, covenants and conditions of this Lease on Tenant's part to be observed and performed, and (e) Partnership Tenant shall give prompt notice to Landlord of the admission of any such new partners.

Appears in 1 contract

Samples: Agreement of Lease (National Financial Partners Corp)

PARTNERSHIP TENANT. 53SECTION 28.01. If Tenant is a partnership (or is comprised of two (2) or more persons, individually and as co-partners of a partnership) or if Tenant's interest in this Lease shall be assigned to a general partnership (or to two (2) or more persons, individually and as co-partners of a general partnership) pursuant to any provision herein, Article 11 (any such general partnership and such persons are referred to in this section Section as "Partnership Tenant"), the following provisions of this Section shall apply to such Partnership Tenant; : (a) the liability of each of the parties comprising Partnership Tenant shall be joint and several, and (bi) each of the parties persons comprising Partnership Tenant, whether or not such person shall be one of the persons comprising Tenant at the time in question, hereby consents in advance to, and agrees to be bound by, any modifications of this Lease written instrument which may hereafter be made executed, changing, modifying or discharging this Lease, in whole or in part, or surrendering all or any part of the Demised Premises to Owner, and by any notices, demands, requests or other communications which may hereafter be given by Partnership Tenant or by any of the parties persons comprising Partnership Tenant, and (cii) any bills, statements, notices, demands, requests and or other communications given or rendered to Partnership Tenant or to any of the parties persons comprising Partnership Tenant shall be deemed given or rendered to Partnership; Partnership Tenant and to all parties comprising partnership tenant such persons and shall be binding upon Partnership Tenant and all such partiespersons, and (d) if Partnership Tenant shall admit new general partners, all of such new partners shall, by their admission to Partnership Tenant, be deemed to have assumed performance of all of the terms, covenants and conditions of this Lease on Tenant's part to be observed and performed, and (eiii) Partnership Tenant shall give prompt notice to Landlord Owner of the admission of any such new partners, or shareholders, or members, as the case may be.

Appears in 1 contract

Samples: Agreement of Lease (Langer Inc)

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