Shared Lease Sample Clauses
A Shared Lease clause defines the arrangement where two or more tenants jointly rent a property under a single lease agreement. This clause typically outlines each tenant's rights and responsibilities, such as payment of rent, maintenance obligations, and liability for damages, often making all tenants collectively and individually responsible for the full rent and any breaches of the lease. By clearly establishing the terms of joint tenancy, the clause ensures that landlords can seek full payment or remedy from any tenant, thereby reducing the risk of unpaid rent or unresolved issues if one tenant fails to meet their obligations.
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Shared Lease. (a) East hereby grants West the right to co-occupy and utilize the "Leased Property" demised to East pursuant to the Lease Agreement (the "Shared Lease").
(b) West hereby agrees to be subject to and fully comply with all of the terms, obligations, conditions and provisions of East under the Lease Agreement, as if West were a signatory thereto.
Shared Lease. Ownership Means a lease in a form approved by Homes England or where there is no such form in a form approved by the District Council such lease to provide for thefollowing:
Shared Lease. Orkin and PRISM shall enter into a Sublease Agreement at the Closing in the form of Exhibit A attached hereto (the "Sublease Agreement") pursuant to which PRISM will sublease to Orkin, to the extent permissible, a specified amount of space at the facility covered by the lease specified on Schedule 1.03 hereto (the "Shared Lease")
Shared Lease. 2.01 (d) Major Customers
2.01 (h) Permitted Encumbrances 2.01(o) Retail Customers 3.02(b) Consents 3.05 Customer Developments 3.06 Inventory