PURCHASE OF LEASED PROPERTY Sample Clauses

PURCHASE OF LEASED PROPERTY. In the event Tenant shall purchase the applicable Leased Property from Landlord pursuant to the terms of the applicable Lease, Landlord shall, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the date of the purchase, and so long as no Default shall have occurred and be continuing at such time (or, solely in the case of the purchase of the Collective Leased Properties pursuant to Section 21.4, so long as no Default involving the nonpayment of Rent shall have occurred and be continuing), deliver to Tenant a title insurance policy, together with an appropriate deed or other instruments, conveying the entire interest of Landlord in and to such Leased Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord other than (i) those liens, if any, which Tenant has agreed in writing to accept and take title subject to, and (ii) encumbrances imposed on such Leased Property under Section 5.5 hereof. The difference between the applicable purchase price and the total cost of discharging the encumbrances described in clause (i) above shall be paid in cash to Landlord or as Landlord may direct, in federal or other immediately available funds. Other than as specifically provided above, such Leased 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 subject to all terms and conditions with respect thereto set forth in the applicable Lease and in the other Transaction Documents, and shall, unless waived by Tenant, be contingent upon and subject to Tenant's obtaining all required governmental consents and approvals for such transfer. 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 of any title examination or title insurance, shall be paid by Tenant.
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PURCHASE OF LEASED PROPERTY. 10.1 A tenant may purchase the leased property with the landlords consent completely or partially. Terms, procedures and conditions of purchase must be defined by the lease contract and by a purchase agreement. All of these questions must be settled by the arbitration of the Economic Court. The laws of the Republic of Tajikistan may envisage instances restricting or prohibiting the purchase of the leased property.
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PURCHASE OF LEASED PROPERTY. The Company will purchase, and the Issuer will sell, the Leased Property for $1.00 at the expiration or early termination of this Lease and upon Payment of the Bond. The Company will give notice to the Issuer specifying the date of closing such purchase, which will be not less than five (5) nor more than ninety (90) days from the date of such notice. At the closing of such purchase, the Issuer will, upon receipt of the purchase price, deliver to the Company a deed, xxxx of sale, or other appropriate documents conveying to the Company title to the Leased Property, as the same exists at the time of such purchase, subject only to: (i) those liens and encumbrances created by the Company or to the creation or suffering of which the Company consented; (ii) those liens and encumbrances resulting from the failure of the Company to perform any of its obligations under this Lease; and
Sample 1
PURCHASE OF LEASED PROPERTY. Lessee may, by written notice to Lessor given not more than thirty nor less than eighteen months prior to the end of the initial term or any renewal term of this Lease elect to have the Leased Property appraised by three qualified appraisers, one of whom shall be promptly selected by Lessor, one of whom shall be promptly selected by Lessee and one of whom shall be promptly selected by said two appraisers selected by Lessor and Lessee, which appraisers shall undertake, at Lessee's sole expense, to appraise the Leased Property at least by the thirtieth day before the beginning of the last year of the then current term of this Lease. Upon receipt of a written appraisal agreed upon in writing by at least two of said appraisers, Lessee may, by written notice to Lessor given prior to the beginning of such last year, elect and, subject to obtaining necessary approvals of regulatory authorities having jurisdiction, become obligated to purchase the Leased Property at any time designated in such notice during such last year and at least sixty days after the date of such notice, for a Purchase Price equal to the then value of the Leased Property as appraised by said appraisers, as aforesaid, which Purchase Price shall be increased by an amount equal to the net amount theretofore expended by Lessor to restore the Leased Property after any damage thereto or destruction or Taking thereof or successful assertion of title paramount thereto which occurred prior to such appraisal, and is reflected in such appraisal, and which Purchase Price shall be decreased by the appraised amount of any loss in value of the Leased Property due to any damage, destruction, successful assertion of title paramount or Taking referred to in sections 21, 23, 24 or 25 which occurred after such appraisal and is not reflected in such appraisal, to the extent that such loss has not been restored by Lessor, such appraised amount to be determined by said appraisers as soon as possible after the occurrence involving such decrease in value in the same manner as the Purchase Price was determined, provided, that such Purchase Price shall in no event be less than $250,000 if such purchase is made during the last year of the initial term of this Lease, nor less than $175,000 if such purchase is made during the last year of the first renewal term of this Lease, nor less than $100,000 if such purchase is made during the last year of the second renewal term of this Lease. If necessary approvals of regulatory ...
Sample 1
PURCHASE OF LEASED PROPERTY. 39 ARTICLE 16
Sample 1
PURCHASE OF LEASED PROPERTY. In the event Tenant shall purchase the Property from Landlord pursuant to the terms of this Agreement, Landlord shall, upon receipt from Tenant of the applicable purchase price by wire transfer of immediately available federal funds, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant a quitclaim deed and other instruments, conveying the entire interest of Landlord in and to the Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord other than (i) Permitted Encumbrances and such other liens, if any, which Tenant has agreed in writing to accept and take title subject to, and (ii) encumbrances imposed on the Property under SECTION 5.5. The Property shall be conveyed to Tenant on an "as is" basis and in its "as-is" physical condition. The closing of any such sale shall be subject to all terms and conditions with respect thereto set forth in this Agreement and 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 of any title examination or title insurance, shall be paid by Tenant.
Sample 1

Related to PURCHASE OF LEASED PROPERTY

  • Use of Leased Property Xxxxxx agrees to use the Leased Property only as residence. Xxxxxx agrees to obey all federal, state and local laws and regulations when using the Leased Property. Xxxxxx agrees not to store any flammable or dangerous things in or around the Leased Property. Xxxxxx agrees not to do anything in or around the Leased Property, which could harm anyone or damage any property. Xxxxxx agrees that Tenant will not allow more than one person per bedroom to live in the Leased Property without the written permission of Landlord. The fact that Tenant may have conflict with a roommate will not act as grounds to terminate this Lease. In the event that Xxxxxx is arrested for or charged with any crime (other than a traffic related offense not involving illegal or controlled substances) during the term of the Lease, and/or Landlord is presented with evidence of activities of Tenant which shall constitute a nuisance or a threat to Landlord, other tenants, the Leased Property or the development, Landlord shall have the right to evict Tenant from the Leased Property.

  • Condition of Leased Property Tenant acknowledges receipt and delivery of possession of the Leased Property and Tenant accepts the Leased Property in its “as is” condition, subject to the rights of parties in possession, the existing state of title, including all covenants, conditions, restrictions, reservations, mineral leases, easements and other matters of record or that are visible or apparent on the Leased Property, all applicable Legal Requirements, the lien of any financing instruments, mortgages and deeds of trust existing prior to the Commencement Date or permitted by the terms of this Agreement, and such other matters which would be disclosed by an inspection of the Leased Property and the record title thereto or by an accurate survey thereof. TENANT REPRESENTS THAT IT HAS INSPECTED THE LEASED PROPERTY AND ALL OF THE FOREGOING AND HAS FOUND THE CONDITION THEREOF SATISFACTORY AND IS NOT RELYING ON ANY REPRESENTATION OR WARRANTY OF LANDLORD OR LANDLORD’S AGENTS OR EMPLOYEES WITH RESPECT THERETO AND TENANT WAIVES ANY CLAIM OR ACTION AGAINST LANDLORD IN RESPECT OF THE CONDITION OF THE LEASED PROPERTY. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY TENANT. To the maximum extent permitted by law, however, Landlord hereby assigns to Tenant all of Landlord’s rights to proceed against any predecessor in interest or insurer for breaches of warranties or representations or for latent defects in the Leased Property. Landlord shall fully cooperate with Tenant in the prosecution of any such claims, in Landlord’s or Tenant’s name, all at Tenant’s sole cost and expense. Tenant shall indemnify, defend, and hold harmless Landlord from and against any loss, cost, damage or liability (including reasonable attorneys’ fees) incurred by Landlord in connection with such cooperation.

  • USE OF LEASED PREMISES The Lessor is leasing the Premises to the Lessee and the Lessee is hereby agreeing to lease the Premises for the following use and purpose: . Any change in use or purpose the Premises other than as described above shall be upon prior written consent of Lessor only.

  • DEMISE OF LEASED PREMISES Landlord hereby leases to Tenant and Tenant hereby leases from Landlord for Tenant’s own use in the conduct of Tenant’s business and not for purposes of speculating in real estate, for the Lease Term and upon the terms and subject to the conditions of this Lease, that certain interior space described in Article 1 as the Leased Premises, reserving and excepting to Landlord the right to fifty percent (50%) of all assignment consideration and excess rentals as provided in Article 7 below. Tenant’s lease of the Leased Premises, together with the appurtenant right to use the Outside Areas as described in Paragraph 2.2 below, shall be conditioned upon and be subject to the continuing compliance by Tenant with (i) all the terms and conditions of this Lease, (ii) all Laws and Restrictions governing the use or occupancy of the Leased Premises and the Property, (iii) all easements and other matters now of public record respecting the use of the Leased Premises and Property, and (iv) all reasonable rules and regulations from time to time established by Landlord.

  • Condition of Leased Premises Tenant hereby acknowledges that Xxxxxx has examined the leased premises prior to the signing of this Lease, or knowingly waived said examination. Tenant acknowledges that Tenant has not relied on any representations made by Landlord or Landlord’s agents regarding the condition of the leased premises and that Tenant takes premises in its AS-IS condition with no express or implied warranties or representations beyond those contained herein or required by applicable Georgia law. Xxxxxx agrees not to damage the premises through any act or omission, and to be responsible for any damages sustained through the acts or omissions of Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests. If such damages are incurred, Tenant is required to pay for any resulting repairs at the same time and in addition to the next month’s rent payment, with consequences for non-payment identical to those for non- payment of rent described herein. At the expiration or termination of the Lease, Tenant shall return the leased premises in as good condition as when taken by Tenant at the commencement of the lease, with only normal wear-and-tear excepted. Modification Of This Lease Any modification of this lease shall not be binding upon Landlord unless in writing and signed by Landlord or Landlord’s authorized agent. No oral representation shall be effective to modify this Lease. If, as per the terms of this paragraph, any provision of this lease is newly added, modified, or stricken out, the remainder of this Lease shall remain in full force and effect.

  • Acceptance of Leased Premises Tenant has accepted possession and is currently occupying the Leased Premises.

  • DESCRIPTION OF LEASED PREMISES The Lessor agrees to lease to the Lessee the following described square feet (SF) of [type of space] located at [street address], State of . Additional Description: Hereinafter known as the “Premises”.

  • Surrender of Leased Premises Upon any termination of this Lease, whether by lapse of time, cancellation pursuant to an election provided for herein, forfeiture, or otherwise, Tenant shall immediately surrender possession of the Leased Premises and all buildings and improvements on the same to Landlord in good and tenantable repair, reasonable wear and damage from fire or other casualty or peril excepted, and shall surrender all keys for the Leased Premises to Landlord at the place then fixed for the payment of rent and shall inform Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises. At any time during the ten (10) days before the termination date of this Lease, Tenant, if not in default hereunder at such time, shall have the right to remove, and at the end of the term, if directed to do so by Landlord, shall remove from the Leased Premises all furniture, furnishings, signs, and equipment then installed or in place in, on or about the Leased Premises; provided, however, Tenant shall, and it covenants and agrees to, make all repairs to the Leased Premises required because of such removal. If any of such property shall remain on the Leased Premises after the end of the term hereof, such property shall be and become the property of Landlord without any claim therein of Tenant. Landlord may direct Tenant to remove such property, in which case Tenant Upon termination of this Lease, Tenant shall peaceably surrender the Leased Premises, including all fixtures and tenant improvements, in a neat and broom clean condition, and Tenant shall repair any holes or openings made by Tenant in the walls, roof or floor of the building, remove any protuberance and perform any maintenance or repairs required of Tenant by this Lease. If directed to do so by Landlord, Tenant shall also remove any improvements, additions or alterations made to the Leased Premises by Tenant even though such improvements by the terms of this Lease become a part of the Leased Premises.

  • Condition of the Leased Property Lessee acknowledges receipt and delivery of possession of the Leased Property. Lessee has examined and otherwise has knowledge of the condition of the Leased Property and has found the same to be satisfactory for its purposes hereunder. Lessee is leasing the Leased Property “as is” in its present condition. Lessee waives any claim or action against Lessor in respect of the condition of the Leased Property. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY, OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY LESSEE. LESSEE ACKNOWLEDGES THAT THE LEASED PROPERTY HAS BEEN INSPECTED BY LESSEE AND IS SATISFACTORY TO IT. Provided, however, to the extent permitted by law, Lessor hereby assigns to Lessee all of Lessor’s rights to proceed against any predecessor in title (other than any Affiliate of Lessee, which conveyed the Property to Lessor) for breaches of warranties or representations or for latent defects in the Leased Property. Lessor shall fully cooperate with Lessee in the prosecution of any such claim, in Lessor’s or Lessee’s name, all at Lessee’s sole cost and expense. Lessee hereby agrees to indemnify, defend and hold harmless Lessor from and against any claims, obligations and liabilities against or incurred by Lessor in connection with such cooperation.

  • Use of the Leased Property (a) Lessee covenants that it will proceed with all due diligence and will exercise reasonable efforts to obtain and to maintain all Licenses and other approvals needed to use and operate the Leased Property and the Hotel under applicable local, state and federal law.

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