Permitted Subleases Clause Samples

Permitted Subleases. Provided that no Special Default or Lease Event of Default has occurred and is continuing, enter into a lease of any Aircraft with a Permitted Sublessee; provided, that the Security Trustee shall have received: (A) evidence that: (1) all necessary governmental approvals required for such Aircraft to be imported and, if requested by the Security Trustee (and such request is reasonable in light of the circumstances) and if and to the extent obtainable with reasonable effort and if it is otherwise customary to obtain the same in such jurisdiction, exported from the applicable country of domicile upon repossession of such leased equipment by the Security Trustee (and the Lessee as lessor) shall have been obtained prior to commencement of any such lease; (2) the insurance requirements of Section 10 are satisfied and that War Risk Insurance shall be carried and maintained of such scope and coverage, and subject to such exclusions and exceptions, as is standard for air carriers flying similar equipment on routes comparable to those flown by such Aircraft; and (3) if re-registration is required, the Lessee shall have complied with the provisions of Section 7(a); and (B) in the case of a Sublease to any air carrier that is listed in Schedule 1, an opinion of counsel (which counsel and opinion are satisfactory to the Security Trustee) that: (1) it is not necessary for the Security Trustee or any Holder to register or qualify to do business in such jurisdiction solely as a result of the proposed lease, unless the only result of such registration or qualification is a Tax or cost that the Lessee is indemnifying such party against; (2) the Security Trustee’s Lien on such Aircraft will be recognized; (3) the laws of such jurisdiction of domicile require fair compensation by the government of such jurisdiction payable in a currency freely convertible into Dollars for the loss of the title to such Aircraft or such Engine in the event of the requisition by such government of title (unless the Lessee shall provide insurance covering the risk of requisition of title to such Aircraft by the government of such jurisdiction so long as such Aircraft is subject to such lease); (4) the required agreement of such non-U.S. air carrier that its rights under the Sublease are subject and subordinate to all of the terms of this Lease is enforceable against such non-U.S. air carrier under applicable law (subject only to customary exceptions as to enforceability); and (5) there exist no p...

Permitted Subleases. Notwithstanding the foregoing, but subject to the provisions of Paragraph 15(d), Tenant may enter into third party residency agreements with respect to the units located at the Facility and may sublease space at the Leased Property for a bank, beauty salon, ▇▇▇▇▇▇ shop, laundry, commissary or healthcare purposes or other concessions and services in the ordinary course of business consistent with the Intended Use, so long as such sublease will not reduce the number of units at the Facility and will not violate or affect any Legal Requirement or Insurance Requirement, and Tenant shall provide (or cause to be provided) such additional insurance coverage applicable to the activities to be conducted in such subleased space as Landlord may reasonably require.

Permitted Subleases. Notwithstanding the foregoing, the Lessee shall have the right to enter into Resident Agreements without the prior consent of the Lessor.

Permitted Subleases. Provided Tenant shall provide Landlord prior written notice, and verification of Tenant’s relationship to the Permitted Sublessee, Tenant may assign this Lease or sublease all or any portion of the Premises to any Person that is 100% owned and controlled by GTAT (“Permitted Sublessee”), but any such assignment or sublease shall not release GTAT from any of its obligations or liabilities under this Lease.

Permitted Subleases. After the earlier to occur of the tenth anniversary of the Delivery Date or the termination of and failure to immediately replace any code share agreement applicable to the Aircraft, provided that no Notified Default has occurred and is continuing, Lessee may, during the Basic Term, with the prior consent of Lessor, such consent not to be unreasonably withheld or delayed, enter into a Permitted Sublease with respect to the Aircraft to any Permitted Sublessee if: (a) Lessee provides written notice to Lessor promptly after entering into any such Permitted Sublease; and (b) Lessee shall include in such Permitted Sublease appropriate provisions which (i) make such Permitted Sublease expressly subject and subordinate to all of the terms of this Lease, including the rights of Lessor to avoid such Permitted Sublease in the exercise of its rights to repossession of the Airframe and Engines hereunder and thereunder; (ii) expressly prohibit any further subleasing of the Airframe and Engines; (iii) require that the Airframe and Engines be maintained in accordance with a Maintenance Program; (iv) limit the term of such Permitted Sublease (including renewal rights) to a period not beyond the end of the Term, unless Lessee has then irrevocably committed to exercise a purchase or extension option in accordance with the terms hereof; (v) require that the Airframe and Engines be used in accordance with the limitations applicable to Lessee's possession and use provided in this Lease; (vi) shall include provisions for the maintenance, operation, possession and inspection of the Aircraft that are the same in all material respects as the applicable provisions of this Lease; and (vii) require insurance coverage to be maintained to at least the same extent as set forth in this Lease.

Permitted Subleases. With respect to any sublease pursuant to Sections 6(a)(i)(3) or (4) (to the extent permitted by Law) or Section 6(a)(i)(9) above: (1) Lessee may sublease the Aircraft or the Airframe to a Permitted Sublessee (each of which shall constitute a "Permitted Sublease") if (A) in any such case, the Permitted Sublessee under such sublease is not subject to a proceeding or final order under applicable bankruptcy, insolvency or reorganization laws on the date such sublease is entered into, (B) in the event that the Permitted Sublessee under such sublease is a Foreign Air Carrier (other than a Foreign Air Carrier principally based in Taiwan), the United Any Permitted Sublease shall expressly provide that the rights of any Permitted Sublessee shall be expressly subject and subordinate to all the terms of this Lease and to the Lien of the Indenture (if it has not been discharged), including, without limitation, the covenants contained in Sections 6(c), 6(d) and 6(e) hereof and Lessor's rights to repossession pursuant to Section 18 hereof and to avoid or terminate such Permitted Sublease upon such repossession, and Lessee shall remain primarily liable hereunder for the performance of all of the terms of this Lease to the same extent as if such Permitted Sublease had not occurred. No Permitted Sublease shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder or under the other Operative Documents or constitute a waiver of Lessor's rights or remedies hereunder or under the other Operative Documents, and such rights shall continue as if such Permitted Sublease had not occurred. Any Permitted Sublease shall expressly prohibit any further sub-sublease or assignment or any other similar transfer of the Aircraft, Airframe or any Engine or rights thereto by the Permitted Sublessee. Lessee shall provide to the Owner Participant and the Indenture Trustee (i) written notice of any Permitted Sublease hereunder (such notice to be given not later than ten Business Days prior to entering into any Permitted Sublease with any proposed Permitted Sublessee), and (ii) a copy of each Permitted Sublease together with an assignment, as security for Lessee's obligations hereunder, of such Permitted Sublease, and if Lessor or the Indenture Trustee so requests, a consent thereto from such Permitted Sublessee, substantially in the form of Exhibit F-3 hereto, within ten (10) Business Days following the effective date of such Permitted Sublease.

Permitted Subleases. Subject to Section 23.4 hereof, Tenant shall have the right to sublease up to ten percent (10%) of the floor area of a Facility in the ordinary course of the health care business being conducted in such Facility without Landlord's consent, and subject to Landlord's consent, which shall not unreasonably be withheld or delayed an additional ten percent (10%) of the floor area of such Facility.

Permitted Subleases. (a) Tenant may, with Landlord's prior written consent, which may not be unreasonably withheld, sublease or license portions of the Leased Property to concessionaires or licensees to operate any portions (but not the entirety) of the Leased Property customarily associated with or incidental to the operation of the Facility; provided, however, that Landlord's consent to any proposed sublease or license shall not be considered unreasonably withheld if Landlord believes that (i) the rental or other amounts to be paid by the proposed sublessee or licensee thereunder would be based, in whole or in part, on the income or profits derived by such proposed sublessee or licensee from the Facility or the Leased Property, (ii) the Landlord owns an interest, directly or indirectly (by applying the constructive ownership rules of Section 856(d)(5) of the Code) in the proposed sublessee or licensee or (iii) the proposed sublease or license would cause (x) a portion of the amounts received by Landlord pursuant to this Lease or any sublease or license to fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar successor provision thereto, or (y) any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Code. (b) Notwithstanding the foregoing, Tenant shall, without Landlord's prior approval, be permitted to sublease portions of the Leased Property to residents of the Facility; provided, however, that Tenant shall not require or accept prepayment for more than three (3) months' use of individual units or rooms in any Facility. Amounts charged to residents for individual units or rooms shall not be materially less than fair market value.

Permitted Subleases. 49 23.4 Transfers to a Controlled Entity...............................49 23.5