Prime Lease Clause Samples
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Prime Lease. (a) Except as otherwise provided herein, this Sublease shall be upon the same terms and conditions as set forth in the Prime Lease, a copy of which is attached hereto as Exhibit C and incorporated herein by this reference. Subtenant shall observe and perform all of the covenants and obligations of the Tenant under the Prime Lease with respect to the use, operation and occupancy of the Subleased Premises. Without limiting the generality of the foregoing, the following provisions of the Prime Lease shall not apply to Subtenant: Sections 1, 2.1.3, 2.1.4, 2.1.5, 2.1.6, 2.1.7(b), 2.1.8, 2.1.10, 3, 5.1, 6.1, 9, and the indemnities in favor of Landlord set forth in Sections 10.10, 20.1 and 39.1, except to the extent any such claim, judgment, damages, penalties, fines, costs, liabilities or losses described in such sections result from the acts, omissions or negligence of Subtenant or its agents, employees, contractors or guests (the "Subtenant Indemnity Obligations").
(b) In those instances under the Prime Lease in which the Prime Landlord thereunder has reserved certain rights with respect to the Demised Premises (as defined in the Prime Lease), or with respect to the Tenant under the Prime Lease, Oread shall be entitled to exercise all of such rights as against the Subleased Premises and Subtenant with the same force and effect as if all such rights of the Prime Landlord, as landlord under the Prime Lease, had been expressly set forth in this Sublease.
(c) With respect to obligations to be performed by the Prime Landlord under the Prime Lease, Oread shall have no obligation with respect to the performance of such obligations and shall have no liability to Subtenant by reason of Prime Landlord's failure to perform the same; however, in the event Prime Landlord shall breach such obligations, then, upon request by Subtenant, Landlord agrees to cooperate with Tenant (at Tenant's cost and expense) to cause Prime Landlord to perform such obligations. Tenant agrees to reimburse Landlord upon demand, as additional rent, for any costs and expenses incurred by Landlord at Tenant's direction to enforce compliance with the provisions of the Prime Lease.
(d) In the event of conflict between the Prime Lease and the provisions of this Sublease, the applicable provision which is more restrictive on Subtenant, or which imposes a greater obligation on Subtenant, shall control.
(e) Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Prime...
Prime Lease. Landlord is the tenant under the Prime Lease identified in Section 1(F), bearing the date specified in Section 1(F). Landlord represents and warrants to Tenant that (a) Landlord has delivered to Tenant a full and complete copy of the Prime Lease, the Master Lease and all amendments thereto, and all other agreements between Prime Landlord and Landlord relating to the leasing, use and occupancy of the Premises, (b) the Prime Lease is, as of the date hereof, in full force and effect and (c) no event of default has occurred under the Prime Lease and, to Landlord's knowledge, no event has occurred and is continuing which would constitute an event of default but for the requirement of the giving of notice and/or the expiration of the period of time to cure.
Prime Lease. Client acknowledges and understands that the rights and interest that PEACHTREE OFFICES has in the address selected on page one of this agreement arise out of a written lease agreement (hereinafter referred to as the “Prime Lease”) between a PEACHTREE OFFICES and its landlord (the "Prime Landlord"). As a result, Client is bound by the rights, obligations, rules & regulations of PEACHTREE OFFICES under the Prime Lease, and is charged with every fact affecting the rights and obligations of PEACHTREE OFFICES under the Prime Lease. Notwithstanding any other provision of this Agreement, if the Prime Lease is terminated, this Agreement shall terminate simultaneously. PEACHTREE OFFICES will not be in default of this Agreement if the default arises out of the Prime Landlord’s failure or refusal to perform its obligations under the Prime Lease. Client acknowledges they have no tenancy interests, leasehold estate, easement, license or other real property interests in the Premises, the Common Areas or any part of the Building and that their rights to use the Premises and Common Areas may be terminated at any time by PEACHTREE OFFICES or Landlord, without the requirement of any eviction or other legal proceeding. At Landlord’s request to PEACHTREE OFFICES, Client and their guests may be required to sign in or wear badges or tags while in the Common Areas.
Prime Lease. Tenant recognizes and acknowledges the existence of the Prime Lease and that this Lease is a sublease of a portion of the Landlord’s leasehold estate created by the Prime Lease. The termination of the Prime Lease for any reason whatsoever shall never constitute a default by the Landlord hereunder nor shall such termination entitle Tenant to terminate this Lease or the payment of any rent or other sums due by the Tenant hereunder. Tenant further agrees that this Lease is subject to all of the terms and provisions of the Prime Lease and hereby agrees to be bound by provisions thereof, including but not limited to the provisions relating to employment and non-discrimination. By execution hereof, Tenant hereby acknowledges that it has received a copy of all provisions of the Prime Lease relating to employment and non-discrimination all as set forth on Exhibit C attached hereto. Provided, however, that the execution of this Lease by Landlord shall never be construed to be an approval hereof by the Prime Lessor, it being understood that the Prime Lessor cannot be bound by any act or omission of Landlord. If Prime Lessor shall request a modification of this Lease, Tenant shall not unreasonably withhold or delay its consent to a modification which does not materially adversely affect Tenant’s rights and privileges hereunder or impose material burdens on Tenant.
Prime Lease. 1 4. DEFINITIONS ...............................................................2
Prime Lease. If LICENSOR’S interest in a particular Site is a leasehold or a license, then prior to execution of the SLA for that Site, LICENSOR shall provide LICENSEE with a copy of the written instrument creating LICENSOR’S real property interest (the “Prime Lease”). LICENSOR may redact financial information from the Prime Lease prior to delivery to LICENSEE. Except as herein otherwise expressly provided, all of the terms, covenants and provisions in the Prime Lease are hereby incorporated into and made a part of each individual SLA as if fully set forth therein. To the extent that the provisions of the Prime Lease are not incorporated therein, the provisions above as to the respective substitution of LICENSOR and LICENSEE for the landlord and the tenant named in the Prime Lease shall not apply. In the event of any conflict between the Prime Lease and this MLA or the applicable SLA, the terms and conditions of the Prime Lease shall govern and control. The interest of the landlord or licensor under the Prime Lease (“Owner”) in the real property of which the Site is a part is hereinafter referred to as the “Land.”
Prime Lease. (a) This Sublease is subject and subordinate to the Prime Lease, and to all the terms, covenants, conditions and provisions set forth in the Prime Lease. All the terms, covenants, conditions and provisions of the Prime Lease, except as otherwise provided by this Sublease, are incorporated herein by reference (the incorporated terms, covenants, conditions and provisions are hereinafter collectively referred to as the "Incorporated Provisions") with the same force and effect as if fully set forth herein; provided, however, except as otherwise set forth herein all references in the Incorporated Provisions to the "Lease," the "Premises," "Landlord," and "Tenant" shall be deemed to refer to this Sublease, the Subleased Premises, Sublandlord and Subtenant, respectively.
Prime Lease. (a) Landlord represents and warrants that the Prime Lease, a true and complete copy of which is attached hereto as Exhibit E, is in full force and effect and that no default, breach, event of default or other non-performance by either Landlord or Prime Landlord under such Prime Lease exists as of the Effective Date. Furthermore, Landlord represents that the Prime Lease as described above is the complete and total Prime Lease and that no other modifications, amendments or significant documents related thereto exist in any event. Landlord covenants that it will at all times in the future refrain from any act which may cause a breach, default or an event of default under the terms of the Prime Lease. Landlord agrees to immediately forward to Tenant, upon receipt thereof by Landlord, a copy of each notice of default received by Landlord in its capacity as tenant under the Prime Lease.
(b) Notwithstanding the terms and conditions of the Prime Lease, Landlord and Tenant acknowledge and agree that all of the terms, covenants, conditions, provisions, rights and obligations in this Sublease are the complete terms and conditions between Landlord and Tenant. The terms and conditions of the Prime Lease are specifically not incorporated in, nor made a part of this Sublease. If the Prime Lease shall be terminated for any reason other than expiration of the term of the term of the Prime Lease during the Term of this Sublease, then and in that event this Sublease shall thereupon automatically terminate and Landlord shall have no liability to Tenant by reason thereof. If such termination shall have been effected because of the breach or default by Landlord under the Prime Lease not occasioned by default by Tenant, Tenant shall be entitled to pursue whatever rights and remedies against Landlord and/or Prime Landlord under the Prime Lease and/or this Sublease that may be available to Landlord in connection with such termination. Prior to the end of the Prime Lease term, Landlord shall, at its option, either extend the term of the Prime Lease or convert this Sublease to a direct lease with the Prime Landlord for the remainder of the Term of this Sublease.
Prime Lease. Notwithstanding anything to the contrary contained herein, in the event the Prime Lease is terminated for any reason whatsoever, this Sublease shall terminate on the date that the Prime Lease is terminated. Upon any such termination of the Prime Lease for any reasons other than Subtenant’s breach or default hereunder, or Sublandlord’s default under the Prime Lease occasioned by Subtenant’s failure to perform its obligations hereunder, all Rent due and owing hereunder shall be pro-rated, where applicable, as of the date of such termination, and paid to Sublandlord, and thereafter in the event of a termination of the Prime Lease which is not due to Subtenant’s breach or default under this Sublease and/or Sublandlord’s default under the Prime Lease which is due to Subtenant’s breach or default under this Sublease, then, Sublandlord shall have no further obligation or liability to Subtenant arising from, through, or under this Sublease except as more particularly set forth herein, and upon Subtenant’s return of possession of the Premises to Sublandlord and Subtenant’s compliance with its obligations hereunder accruing on and/or before the date of such termination, Subtenant shall have no obligation or liability to Sublandlord accruing after the date of such termination relating to this Sublease, except as more particularly set forth herein.
Prime Lease. (a) The term "Prime Lease", as such term is referred to ----------- in this lease, means that certain Lease Agreement entered into by and between Marathon Realty Corporation, as Landlord, and K-VA-T Food Stores, Inc., as Tenant, covering the land and building occupied by Store in which Premises are located, and dated August 1, 1987.
(b) This lease is executed by Lessor and Lessee as a sublease under said Prime Lease, and shall be subject and subordinate to all of the terms and conditions of said Prime Lease. Subject to the provisions of Section 4 hereof, upon the termination of said Prime Lease for any reason, this lease shall terminate. In the event that said Prime Lease is terminated and Lessor continues to occupy said store building and operate said store, whether as tenant or owner, this lease shall not terminate, but remain in effect until the earlier of: 1. Cessation of operation of said store by Lessor, or, 2. Its term, including any extension thereof, expires. In the event that Lessor ceases operations in said store and relocates within a one-mile radius of the store building within one year of cessation of operations, Lessee shall have the opportunity to relocate with Lessor. The relocation of Lessee with Lessor shall be contingent upon: 1. The approval by Lessor of Lessees's bank facility plans, 2. Where applicable, Lessees's maintaining operations at both the old and new facilities, 3. Monthly rental from Lessee in the new store building shall increase in proportion to Lessor's increased occupancy costs and, 4. Said relocation does not violate any terms and conditions or any exclusive rights granted previously by Lessor's landlord, pursuant to the Prime Lease for the new store building.
(c) Lessee agrees that this lease is and shall be subordinate and subject to the lien of any first mortgage, deed to secure debt, deed of trust, or other instrument in the nature thereof which may now or hereafter affect or encumber the fee title to the Premises and the land upon which the store building is located. The preceding sentence pertaining to the subordination of this lease to any first mortgage, security deed, or other instrument in the nature thereof shall be self-operative, and no further instrument or subordination shall be required by the holder of any such instrument affecting or encumbering the fee title of the Premises or the land upon which the store building is located. In confirmation of such subordination, Lessee shall, upon demand, at any t...