SUMMARY OF BASIC LEASE INFORMATION TERMS OF LEASE DESCRIPTION
BASIC LEASE TERMS For purposes of this Lease, the following terms have the following definitions and meanings:
BASIC LEASE PROVISIONS Each reference in this Lease to the “
BASIC LEASE INFORMATION In addition to the terms that are defined elsewhere in this Lease, these terms are used in this Lease:
Lease Terms 8.1. The Tenant must observe and perform all conditions and covenants that apply to the Allotment Site contained in any lease under which the Council hold the Allotment Site.
LEASE TYPE This Agreement shall be considered a: (check one) ☐ - Fixed Lease. The Tenant shall be allowed to occupy the Premises starting on , 20 and end on , 20 (“Lease Term”). At the end of the Lease Term and no renewal is made, the Tenant: (check one) ☐ - May continue to lease the Premises under the same terms of this Agreement under a month-to-month arrangement. ☐ - Must vacate the Premises.
BASIC PROVISIONS This Article contains the basic lease provisions between Landlord and Tenant.
Rent Schedule Borrower has prepared a prospective Unit absorption and rent collection schedule with respect to the Project substantially in the form attached as an exhibit to the Construction Funding Agreement, which schedule takes into account, among other relevant factors (i) a schedule of minimum monthly rentals for the Units, and (ii) any and all concessions including free rent periods, and on the basis of such schedule, Borrower believes it will collect rents with respect to the Project in amounts greater than or equal to debt service on the Borrower Loan.
Lease Supplement The Lease Supplement No. 1 (Federal Express Corporation Trust No. N680FE) to be dated the Delivery Date, substantially in the form of Exhibit A to the Lease. Lease Term. The period commencing on the Delivery Date and ending at the end of the Basic Term. Lessee. Federal Express Corporation, a Delaware corporation.
Lease Provisions The terms and provisions of the Lease, insofar as they are applicable to this Work Letter are hereby incorporated herein by reference. All amounts payable by Tenant to Landlord hereunder shall be deemed to be additional Rent under the Lease and, upon any default in the payment of same, Landlord shall have all of the rights and remedies provided for in the Lease.