Prime Lease Clause Samples
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Prime Lease. Sublessor represents that a true and complete copy ----------- of the Prime Lease, as amended, supplemented and modified, is attached hereto as Exhibit A and Sublessee acknowledges receipt thereof. Sublessor represents and warrants that the Prime Lease is in full force and effect and Sublessor has no knowledge of any defaults under the Prime Lease. This Sublease is subject and subordinate to the Prime Lease, all of the terms and conditions thereof and the performance by Prime Lessor of all of its obligations thereunder, and to the extent approved by Sublessee, which approval will not be unreasonably withheld, all amendments and supplements hereafter entered into. All terms contained in this Sublease shall have the same meanings and definitions ascribed to them in the Prime Lease, unless any such term is expressly defined in this Sublease or the context requires otherwise. Sublessee shall not commit or permit to be committed on the Subleased Premises any act or omission which violates any term or condition of the Prime Lease. In the event of the termination of the Sublessor's interest as Sublessee under the Prime Lease for any reason other than a default by Sublessor under the Prime Lease which occurs for any reason other than a breach or a default by Sublessee under this Sublease, then this Sublease shall terminate coincidentally therewith without any liability of Sublessor to Sublessee. Sublessee shall only have such rights with respect to the Leased Premises which Sublessor has pursuant to the Prime Lease. Except as specifically exempted as provided below in this ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ shall assume, perform and observe all of the obligations of Sublessor as Tenant under the Prime Lease, to the extent that such terms and conditions are applicable to the Subleased Premises, including without limitation thereto payment (or in the case of payment in the first instance by Sublessor, reimbursement of Sublessor for payment) of all rent which becomes due under the Prime Lease with respect to the Subleased Premises only. Sublessee's performance and observance of all such obligations shall be effected so that, whenever time periods are specified in the Prime Lease for Sublessor's compliance as Tenant thereunder, Sublessee shall have so complied on or prior to such date, unless otherwise specifically provided herein. Except as otherwise provided in this Sublease, all of the terms and conditions contained in the Prime Lease, except for the provisions of 2.3, 3.3, 5....
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. 2.2.1 Sublessor hereby represents and warrants that: (i) Sublessor is the tenant under the Prime Lease and has the full right to enter into this Sublease (subject, however, to the Prime Lessor Consent); (ii) the Prime Lease is in full force and effect; (iii) Sublessor has not received from Prime Lessor any written notice of any default on the part of Sublessor as tenant under the Prime Lease which has not been cured, nor has Sublessor given Prime Lessor written notice of any default on the part of Prime Lessor as landlord under the Prime Lease which has not been cured, and, to the best of Sublessor’s knowledge, no event or circumstance has occurred that, with notice or passage of time, could constitute such a default; (iv) Sublessor has submitted to Sublessee a true and complete copy of the Prime Lease, a copy of which is attached hereto as Exhibit B, including all amendments, modifications, extension notices, consents, and subordination, non-disturbance and attornment agreements related thereto; and (v) no pending dispute or claim has been asserted between Sublessor and Prime Lessor, Sublessor does not now intend to assert any such claim, and Sublessor knows of no basis to do so. Sublessee warrants and acknowledges that it has reviewed the Prime Lease and is satisfied with the arrangements therein reflected. Sublessee agrees that Sublessee is satisfied with the present condition of the Premises, which Sublessee takes “as is” without any representation or warranty by Sublessor regarding the condition of the Premises (except as provided herein and except that the Premises shall be delivered to Sublessee vacant (except for the FF&E) and in broom clean and good condition, free and clear of any debris) and the fitness of the Premises for any particular use and without any obligation of any kind on Sublessor to make any repairs or improvements thereto in connection with Sublessee’s occupancy and with Sublessee’s ability to use the Premises on the terms herein set forth.
2.2.2 The Prime Lease is by this reference incorporated into and made a part hereof, except that
(i) all references in the Prime Lease to “Landlord”, “Tenant”, “Lease” and “Premises” shall be deemed to refer to Sublessor, Sublessee, this Sublease and the Premises subleased hereunder, except that all references in the following sections and/or provisions of the Prime Lease to “Landlord”, “Tenant”, “Lease”, and “Premises”, respectively, shall be deemed to refer to “Prime Lessor”, “Sublessee”, this...
Prime Lease. Subtenant agrees that it will do nothing in, on or about the Subleased Premises or the Building which would result in the breach by Sublandlord of its undertakings and obligations under the Prime Lease. Except as expressly provided in this Sublease and except for the following provisions, this Sublease shall be subject to and on all of the terms and conditions as are contained in the Prime Lease and the provisions of the Prime Lease are hereby incorporated into this Sublease as if Sublandlord were the landlord thereunder and Subtenant the tenant thereunder:
A. The defined economic terms for “Annual Fixed Rent – Initial Term,” “Initial Term,” “Premises,” “Guarantor,” “Extension Terms,” “Annual Fixed Rent – Extension Term,” “Broker” are inapplicable;
B. Sections 4.5, 4.6, 4.7, and 4.8 of the Prime Lease (relating to additional rent) are applicable, as modified by the provisions of Paragraphs 5 and 6 of this Sublease, but Appendix J shall be applicable to the extent its provisions impact the calculation of additional rent payable under the Prime Lease;
C. Sections 4.9, 5.8, and Section 8.3 as it relates to Sublandlord are inapplicable;
D. Article II of the Prime Lease (relating to Premises and Term) is inapplicable as between Subtenant and Sublandlord, except to the extent enforcement of Prime Landlord’s obligations under such Article II is required in order for Sublandlord to perform its obligations under this Sublease, and except to the extent such parking rights are incorporated into this Sublease in Section 14 below;
E. Article IX of the Prime Lease (relating to Brokers) is inapplicable;
F. Article III and Appendix D of the Prime Lease (relating to Landlord’s Work and Tenant Work) is inapplicable;
G. Article XII of the Prime Lease (relating to Purchase Right of First Offer) is inapplicable;
H. Appendix G of the Prime Lease (relating to the Notice of Lease) is inapplicable;
I. Schedules 2.5, 4.9, and 5.2.1.3(2) are inapplicable; and
J. Where appropriate, references to “Landlord” in the Prime Lease shall be deemed to mean “Sublandlord” hereunder and references to “Tenant” in the Prime Lease shall be deemed to mean “Subtenant” hereunder, it being understood and agreed that Sublandlord will not be acting as, or assuming any of the responsibilities of, Prime Landlord, and all references in the Prime Lease to Landlord-provided services or Landlord insurance requirements, and any other references which by their nature relate to the owner or operator of the Build...
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...
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. 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. 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. 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.