Common use of To Third Parties Clause in Contracts

To Third Parties. As of the Agreement Date, the CPR Ag Lots currently designated as Puuwai-5, Puuwai-6 and Kaulana-12 are subject to an agreement (the “Third Party Lease”) pursuant to which a third party (the “Tenant”) has the exclusive right to use and occupy such CPR Ag Lots. The Third Party Lease is scheduled to expire on October 31, 2023. If any portion of the Ag Lot is located within Puuwai-5, Puuwai-6 and Kaulana-12, this Agreement, and Licensee’s rights under this Agreement, shall be subject to the Third Party Lease and the Tenant’s right to use and occupy the Ag Lot (or portion thereof) located within Puuwai-5, Puuwai-6 and/or Kaulana-12. Without limiting the foregoing and notwithstanding anything to the contrary contained elsewhere in this Agreement, Licensee shall not enter or use any portion of the Ag Lot, which is located within Puuwai-5, Puuwai-6 and/or Kaulana-12 until such time as the premises demised under the Third Party Lease has been surrendered to Licensor (the “Surrender Date”). Notwithstanding this Agreement, Licensor shall retain all rights and obligations of the landlord under the Third Party Lease. This includes the rights and obligations to collect all rent payable under the Third Party Lease, to accept surrender of the premises, seek eviction of the Tenant, and otherwise enforce the terms and provisions of the Third Party Lease. The net proceeds received by Licensor arising from the Third Party Lease for the period between the Commencement Date and the Surrender Date shall be split proportionally among licensees (and Licensor with respect to any agricultural lots not licensed to a licensee) whose agricultural lots (or portions thereof) are located within Puuwai-5, Puuwai-6 and/or Kaulana-12 pro rata based on the area (measured in acres rounded to the nearest thousandth of an acre) of the agricultural lots located within Puuwai-5, Puuwai-6 and/or Kaulana-12. Licensor shall pay Licensee its share of the net proceeds within thirty (30) days after the Surrender Date. Upon ▇▇▇▇▇▇’s surrender of the premises, Licensor shall promptly notify Licensee of the Surrender Date and Licensee may enter and use the Ag Lot from and after the Surrender Date in accordance with this Agreement.

To Third Parties. As of the Agreement Date, the CPR Ag Lots currently designated as Puuwai-5, Puuwai-6 and Kaulana-12 are subject to an agreement (the “Third Party Lease”) pursuant to which a third party (the “Tenant”) has the exclusive right to use and occupy such CPR Ag Lots. The Third Party Lease is scheduled to expire on October 31, 2023. If any portion of the Ag Lot is located within Puuwai-5, Puuwai-6 and Kaulana-12, this Agreement, and Licensee’s rights under this Agreement, shall be subject to the Third Party Lease and the Tenant’s right to use and occupy the Ag Lot (or portion thereof) located within Puuwai-5, Puuwai-6 and/or Kaulana-12. Without limiting the foregoing and notwithstanding anything to the contrary contained elsewhere in this Agreement, Licensee shall not enter or use any portion of the Ag Lot, which is located within Puuwai-5, Puuwai-6 and/or Kaulana-12 until such time as the premises demised under the Third Party Lease has been surrendered to Licensor (the “Surrender Date”). Notwithstanding this Agreement, Licensor shall retain all rights and obligations of the landlord under the Third Party Lease. This includes the rights and obligations to collect all rent payable under the Third Party Lease, to accept surrender of the premises, seek eviction of the Tenant, and otherwise enforce the terms and provisions of the Third Party Lease. The net proceeds received by Licensor arising from the Third Party Lease for the period between the Commencement Date and the Surrender Date shall be split proportionally among licensees (and Licensor with respect to any agricultural lots not licensed to a licensee) whose agricultural lots (or portions thereof) are located within Puuwai-5, Puuwai-6 and/or Kaulana-12 pro rata based on the area (measured in acres acres, rounded to the nearest thousandth of an acre) of the agricultural lots located within Puuwai-5, Puuwai-6 and/or Kaulana-12. Licensor shall pay Licensee may elect, in its sole discretion, to apply Licensee’s share of the net proceeds within thirty (30if any) days after as a credit against any amounts that are due or will become due from Licensee under this Agreement, or to pay Licensee’s share of the Surrender Datenet proceeds (if any) to Licensee. Upon ▇▇▇▇▇▇’s surrender of the premises, Licensor shall promptly notify Licensee of the Surrender Date and Licensee may enter and use the Ag Lot from and after the Surrender Date in accordance with this Agreement.