Purchase by Tenant Sample Clauses

Purchase by Tenant. If during the terms of any rental of the Premises, including any renewals or holdovers, or within days 54. after the rental’s termination, any tenant, or his heirs, executors, or assigns shall buy the Premises from Owner, the sale commission 55. described in Section 4 shall be deemed earned by and payable to Broker.
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Purchase by Tenant. In the event that, in the reasonable determination of Tenant, it shall no longer be economically practical to operate any Property as an "all suites" hotel, and Tenant and Landlord have not agreed on an alternative use for such Property or on the substitution of one or more other properties for such Property as provided in Section 4.1.1(b), Tenant may permanently cease operation of such Property (notwithstanding Section 4.1.1(a)) and concurrently give Landlord irrevocable written Notice (i) of Tenant's election to terminate this Agreement with respect to such Property and simultaneously purchase such Property from Landlord for a purchase price equal to one hundred twenty five percent (125%) of the Adjusted Purchase Price for such Property (the "Buyout Price") and (ii) certifying that Tenant has permanently ceased operating such Property as an "all suites" hotel. Such purchase shall occur on the Business Day designated in such Notice, which shall be a date not later than ninety (90) days after the date of such Notice (the "Purchase Date"). Landlord shall, upon receipt from Tenant of the Buyout Price for such Property, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the Purchase Date, and so long as no Default or Event of Default shall have occurred and be continuing at such time, deliver to Tenant an appropriate deed and other instruments, conveying the entire interest of Landlord in and to such Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord, and such other documents as are customarily and reasonably required of sellers by title companies or purchasers. This Agreement shall thereupon terminate as to such Property. The Buyout Price and all other amounts to be paid to Landlord on the Purchase Date shall be paid in immediately available funds as directed by Landlord. Other than as specifically provided above, such Property shall be conveyed to Tenant on an "as is" basis, and in its then physical condition. The closing of any such sale shall be contingent upon and subject to Tenant's obtaining any required governmental consents and approvals for such transfer, provided that Landlord shall reasonably cooperate with Tenant in obtaining such consents and approvals. All expenses of such conveyance, including, without limitation, all transfer and sales taxes, documentary fees, the fees and expenses of counsel to Landlord and the cost...
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Purchase by Tenant. In the event said tenant, its successors, or assigns, should purchase the Property during the term of the Lease or any renewal and extension thereof, Owner shall pay to Broker at closing a commission equal to__6___% of the purchase price of the Property. Upon closing, all further commissions due for leasing the Property shall terminate, and any paid lease commissions for tenancy after the title closing date will be credited against commissions due for the purchase of the property.
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Purchase by Tenant. 45 15.3 Landlord's Option to Purchase Tenant's Personal Property; Transfer of Licenses........46 ARTICLE 16
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Purchase by Tenant. 48 15.3 Landlord's Option to Purchase Tenant's Personal Property; Transfer of Licenses.......................................................................................49
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Purchase by Tenant. In the event the tenant, its successors, or assigns should purchase the PROPERTY during the term of the Lease or any renewal and extension thereof, OWNER shall pay to LISTING BROKER at closing a commission as follows:
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Related to Purchase by Tenant

  • Repairs by Tenant Tenant shall, at its sole cost and expense, promptly perform all maintenance, repairs, refurbishing and replacement work to the Leased Premises that are not Landlord’s express responsibility under this Lease, and shall keep the Leased Premises in good condition and repair, reasonable wear and tear excepted. Tenant’s repair obligations include repairs to: (a) floor covering, (b) interior partitions, (c) doors, (d) the interior side of demising walls, (e) electronic, phone and data cabling and related equipment that is installed by or for the exclusive benefit of Tenant and located in the Leased Premises or other portions of the Building, (f) supplemental air conditioning units, private showers and kitchens, including hot water heaters, plumbing and similar facilities serving Tenant exclusively, and (g) alterations performed by contractors retained by Tenant, including related HVAC balancing. All Tenant’s work shall be performed in accordance with the rules and procedures described in Section 5.2 hereof. Upon termination of this Lease, Tenant will surrender and deliver the Leased Premises to Landlord in the same condition in which the Leased Premises existed on the Commencement Date, subject, however, to (i) the provisions of Article VI hereof, (ii) the alterations permitted pursuant to this Lease, (iii) the provisions of Section 5.3, and (iv) except for ordinary wear and tear. If Tenant should fail or refuse to make such repairs, refurbishings or replacements or perform said maintenance as and when reasonably required, Landlord may, at its option, but without any obligation to do so, cure such failure or refusal and Landlord’s costs shall be reimburseable by Tenant as additional rent, by Tenant, immediately upon invoicing by Landlord. Notwithstanding the foregoing, Landlord agrees to perform, as Above Standard Services, Tenant’s repair and maintenance obligations with respect to the Leased Premises. Tenant shall notify Landlord of the need for any such repair and maintenance and Landlord shall endeavor to respond timely to each such request.

  • Payment by Tenant Tenant shall pay to Landlord, within fifteen (15) days after delivery by Landlord to Tenant of statements therefor: (i) sums equal to expenditures reasonably made and obligations incurred by Landlord in connection with Landlord’s performance or cure of any of Tenant’s obligations pursuant to the provisions of Section 19.2.3 above; and (ii) sums equal to all expenditures made and obligations incurred by Landlord in collecting or attempting to collect the Rent or in enforcing or attempting to enforce any rights of Landlord under this Lease or pursuant to law, including, without limitation, all legal fees and other amounts so expended. Tenant’s obligations under this Section 19.3 shall survive the expiration or sooner termination of the Lease Term.

  • Default by Tenant (a) This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth. If any of the following events shall occur, to-wit: (i) if any installment of Fixed Base Rent, Percentage Rent, or any other sums required to be paid by Tenant hereunder, or any part thereof, shall at any time be in arrears and unpaid for ten (10) days after the date due, or (ii) if there be any default on the part of the Tenant in the observance or performance of any of the other covenants, agreements or conditions of said Lease on the part of Tenant to be kept and performed and said default shall continue for a period of fifteen (15) days after written notice thereof from Landlord to Tenant (unless such default cannot reasonably be cured within fifteen (15) days and in such case, Tenant shall have commenced to cure said default within said fifteen (15) days and thereafter continues diligently to pursue to completion the curing of same) or (iii) if Tenant shall file a petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or make an assignment for the benefit of creditors, or (iv) if any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties shall be appointed in any action, suit or proceeding by or against Tenant and such proceeding or action shall not have been dismissed within thirty (30) days after such appointment, or (v) if the leasehold estate hereby created shall be taken by execution or by other process of law, or (vi) if Tenant shall fail to operate and conduct business as required in Section 8 hereinabove, then, in any such event, Landlord, at Landlord's option and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of any default by Tenant, may either:

  • By Tenant Tenant shall not make any alterations to or modifications of the Leased Premises or construct any improvements to or within the Leased Premises without Landlord’s prior written approval, and then not until Landlord shall have first approved, in writing, the plans and specifications therefore, which approval shall not be unreasonably withheld. All such modifications, alterations or improvements, once so approved, shall be made, constructed or installed by Tenant at Tenant’s expense, using a licensed contractor first approved by Landlord, in substantial compliance with the Landlord-approved plans and specifications therefore. All work undertaken by Tenant shall be done in accordance with all Laws and in a good and workmanlike manner using new materials of good quality. Tenant shall not commence the making of any such modifications or alterations or the construction of any such improvements until (i) all required governmental approvals and permits shall have been obtained, (ii) all requirements regarding insurance imposed by this Lease have been satisfied, (iii) Tenant shall have given Landlord at least five business days prior written notice of its intention to commence such work so that Landlord may post and file notices of non-responsibility, and (iv) if requested by Landlord, Tenant shall have obtained contingent liability and broad form builder’s risk insurance in an amount satisfactory to Landlord to cover any perils relating to the proposed work not covered by insurance carried by Tenant pursuant to Article 9. In no event shall tenant make any modifications, alterations or improvements to the Common Areas or any areas outside of the Leased Premises. As used in this Article, the term “modifications, alterations and/or improvements” shall include, without limitation, the installation of additional electrical outlets, overhead lighting fixtures, drains, sinks, partitions, doorways, or the like.

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