Replacement Leases Sample Clauses

Replacement Leases. Seller may, with the prior written consent of Buyer (such consent to be given in the sole discretion of Buyer), acquire, at its sole cost and expense, any one or more oil, gas and/or mineral leases (each such lease being a “Replacement Lease”) and such Replacement Lease shall be deemed to cure any one or more Title Defects agreed by Seller and Buyer on a Net Mineral Acre by Net Mineral Acre basis and such Replacement Lease shall be deemed to be a part of the Oil and Gas Leases for purposes of this Agreement. ALLOCATED VALUES
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Replacement Leases. For purposes hereof, (a) the term "Currently Leased Area" means the number of rentable square feet in the Building that are leased as of the date of this Lease (not taking into account this Lease). If Landlord hereafter enters into a lease or any expansion of an existing lease (a "Replacement Lease") that results in the leased area of the Building being in excess of the Currently Existing Leased Area (such excess being herein referred to as the "Newly Leased Area"), then Tenant may at any time thereafter, by written notice to Landlord, delete from the Premises an area (the "Deleted Area") containing the same number of rentable square feet as are contained in the Newly Leased Area, and in such event Tenant shall have no further rights or obligations under this Lease with respect to the Deleted Area and the Rent payable under this Lease shall be reduced accordingly; provided, however, that in the event that a Replacement Lease provides for rent abatement or "free rent" at the beginning of the lease term, the reduction in the Rent payable hereunder shall be offset by the amount of such rent abatement or "free rent". At such time as Replacement Leases demising Newly Leased Area equal to the area of the Premises have been executed, the Term of this Lease shall expire. In the event a Replacement Lease comes into existence in respect of which a termination of this Lease is properly exercised, promptly after the request of Tenant or Landlord, Tenant and Landlord shall enter into a mutually acceptable amendment to this Lease confirming the foregoing.
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Replacement Leases. Landlord agrees that, in the event of a termination of this Lease, Landlord shall upon request of any Leasehold Mortgagee (and whether or not a Nullification Notice may have been given) enter into a new lease of the Land with the Leasehold Mortgagee or its nominee for a term equal to what would have been the remainder of the term of this Lease if this Lease had not been terminated, which new lease shall be effective as of the date of such termination and shall be at the same Rent and upon the same terms, provisions, covenants and agreements as are herein contained (including any right to extend the term of this Lease and the provisions set forth in this Article XI), subject only (a) to the same conditions of title as this Lease is subject to on the date of the execution hereof and any liens or encumbrances or other matters (i) which were caused or created by Tenant, (ii) which are required by law or (iii) which the Tenant was obligated to discharge under the terms of this Lease and (b) to the rights, if any, of parties then in possession of any part of the Demised Premises, provided that:
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Replacement Leases. On or prior to April 1, 1999, the Company shall execute and deliver the First Replacement Lease and on or prior to the Closing Date, QDL shall execute and deliver the Second Replacement Lease.
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Replacement Leases. Notwithstanding anything contained herein to the contrary, at any time and from time to time before Closing, Seller shall have the right, but not the obligation, to acquire, at its sole cost and expense, any one or more oil, gas and/or mineral leases (including, any oil and gas lease listed on Schedule 2.2(a)) covering not more than 1000 net mineral acres, in the aggregate, located within the area of land depicted on Schedule 14.8 (each such lease being a “Replacement Lease”). If Seller exercises its right to acquire a Replacement Lease pursuant to this Section 5.6(f), then up to 1000 net mineral acres covered by any such Replacement Lease shall be deemed to cure any one or more Title Defects selected by Seller (other than Title Defects relating to any portion of any Spacing Unit within which an Acquired Well is located) on a net mineral acre by net mineral acre basis and such Replacement Lease shall be deemed to be a part of the Acquired Assets for purposes of this Agreement.
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Related to Replacement Leases

  • Equipment Leases Landlord shall enter into such leases of equipment and personal property as Tenant may reasonably request from time to time, provided that the form and substance thereof shall be reasonably satisfactory to Landlord. Tenant shall prepare and deliver to Landlord all such lease documents for which Landlord's execution is necessary and Landlord shall promptly, upon approval thereof, execute and deliver such documents to Tenant. Tenant shall, throughout the Term, be responsible for performing all of Landlord's obligations under all such documents and agreements.

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted.

  • Existing Leases Landlord and Tenant hereby acknowledge and agree that the Existing Leases are still in full force and effect and that Tenant's right to possess, use and occupy those portions of the Premises described in the Existing Leases shall be subject to the Existing Leases and shall not commence unless and until the Existing Leases expire or are terminated. Notwithstanding the foregoing, however, Tenant's obligation to pay or cause to be paid the Rent shall commence on the Commencement Date, and Landlord, pursuant to that certain Assignment of Rents to Tenant, has assigned to Tenant the right to receive all rents and other amounts from the Existing Leases . Tenant shall have the right to direct Landlord regarding negotiations with Existing Tenants concerning the Existing Leases and to direct Landlord to terminate the Existing Leases on terms and conditions acceptable to Tenant without Landlord's consent. So long as an Event of Default has not occurred under this Lease, Landlord shall immediately deliver to Tenant any and all amounts that Landlord may hereafter receive from Existing Tenants with respect to the Existing Leases. Landlord shall have no right to modify, amend or terminate the Existing Leases without the prior written consent of Tenant. Prior to the expiration or termination of the Existing Leases, Landlord will perform all of the duties and obligations of the Landlord under the Existing Leases; provided, however, that Tenant shall have no right to modify or amend the Existing Leases so as to increase the maintenance, repair or other duties and obligations of the Landlord under the Existing Leases without the prior written consent of Landlord. Tenant shall indemnify Landlord for any damages and liabilities that Landlord may suffer or incur as a result of Landlord being made a party to any litigation that may hereafter arise between Tenant and Existing Tenants concerning the Existing Leases except to the extent that such litigation concerns the failure of Landlord to perform any of the duties and obligations of the landlord under the Existing Leases or the negligence or misconduct of Landlord. After the termination of the Existing Leases, Tenant, at Tenant's option, shall have the right to, among other things, occupy all or any portion of the Premises for Tenant's own use or sublease all or any portion of the Premises to a third party (subject to limitations therein set forth in this Lease or in the First Mortgage); provided, however, that Tenant shall remain liable for payment of the Rent during the Term of this Lease.

  • New Leases Continue its present rental program and efforts at such Seller’s Property to rent vacant space in accordance with past practices; provided that, without the prior written consent of the Buyer, which consent may be granted or withheld in the Buyer’s sole discretion, such Seller shall not (i) execute any new lease, license or other occupancy agreement, (ii) amend, supplement, terminate, accept the surrender of, renew or otherwise modify any existing Lease, (iii) approve any assignment or sublease of any existing Lease, or (iv) waive any right or obligation thereunder; provided, however, that, in the case of any amendment, supplement, termination, surrender, renewal or modification of any existing Lease as set forth in clause (ii) above, if such existing Lease expressly and specifically sets forth the terms of any such amendment, supplement, termination, surrender, renewal or modification and requires the landlord under the Lease to acknowledge or counter-sign the same, in which case, the Buyer’s consent shall not be required, but Seller shall provide the Buyer with written notice of (and to the extent such amendment, supplement or modification modifies the rental terms of such Lease which rental amount is not specifically stated in such Lease, the Buyer shall have an opportunity to review and comment upon) such amendment, supplement, termination, surrender, renewal or modification at least five (5) Business Days prior to the date of execution. If such Seller enters into any new lease, license or other occupancy agreement, or renews any existing Lease (each such new lease, license, occupancy agreement and renewal, a “New Lease”) after the date hereof in accordance with the terms of this Section 3.2(d), then each such lease, license, occupancy agreement and renewal shall be included in the definition of “Leases” herein and added to Schedule 3.2(c) attached hereto, shall be assigned to and assumed by the Buyer at the Closing in accordance with this Agreement. If the Buyer does not reject or approve a new lease, license, occupancy agreement, renewal or a Lease amendment within five (5) Business Days after receipt of a copy thereof, then the Buyer shall be deemed to have approved such new lease, license, occupancy agreement, renewal or Lease amendment; provided that such notice includes specific reference to this Section 3.3(d) and the deemed approval provision hereof.

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Franchise Agreements The Franchise Agreements are in full force and effect and there is no default thereunder by any party thereto and no circumstance, condition or event has occurred that, with the passage of time and/or giving of notice, would constitute a default thereunder or entitle Franchisor to terminate any Franchise Agreement. All franchise fees, reservation fees, royalties, marketing fees and other sums and payable due under the Franchise Agreements have been paid in full or are current. A true, correct and complete copy of the Franchise Agreements, together with all amendments and ancillary agreements or side letters related thereto, have been delivered to Lender. The Loan, and the encumbrance of the Properties as security for the Loan, will not cause Borrower to violate any financial covenants contained in any Franchise Agreement.

  • Existing Agreements The Executive represents to the Company that he is not subject or a party to any employment or consulting agreement, non-competition covenant or other agreement, covenant or understanding which might prohibit him from executing this Agreement or limit his ability to fulfill his responsibilities hereunder.

  • Space Leases (i) Borrower has delivered a true, correct and complete schedule of all Space Leases as of the date hereof, which accurately and completely sets forth in all material respects, for each such Space Lease, the following (collectively, the “Rent Roll”): the name and address of the tenant with the name, title and telephone number of the contact person of such tenant; the lease expiration date, extension and renewal provisions; the base rent and percentage rent payable; all additional rent and pass-through obligations; and the security deposit held thereunder and the location of such deposit.

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