Concurrent Lease definition

Concurrent Lease means a planning or development lease, or any other lease of trust land, granted in addition to an existing lease of state trust land.
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Concurrent Lease has the meaning ascribed thereto in section 2.1(a);
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Examples of Concurrent Lease in a sentence

  • If the Lessor elects to terminate all Concurrent Leases pursuant to section 7.3 or if the Concurrent Lessee elects to sell all such Concurrent Leases pursuant to section 7.6, or if any Concurrent Lease is terminated pursuant to any of sections 3.2, 3.3(c) or 3.4, the Concurrent Lessee shall have the right, but not the obligation, to terminate, modify or amend any portion of the Swap Agreement entered into by the Concurrent Lessee in connection with such Concurrent Leases.

  • Tenant acknowledges and agrees that no direct gas meter shall be installed for the Premises and all gas service for Tenant’s HVAC or for any other purpose in the Premises shall be connected to the gas meter that is currently serving the premises (the “Concurrent Premises”) under the Concurrent Lease.

  • Provided that at the time Tenant gives its notice of termination hereunder Tenant is not then in default beyond any applicable notice and cure period of any of its obligations pursuant to this Lease and pursuant to the Concurrent Lease (hereinafter defined), and Tenant simultaneously services notice of termination to Landlord under the Concurrent Lease, Tenant shall have the option to terminate this Lease which shall be effective on July 15, 2027 (“Early Termination Date”).

  • The term of each Concurrent Lease in respect of any Equipment shall commence at the opening of business on the related Cut-Off Date and, unless terminated or deemed terminated earlier in accordance with the provisions hereof, shall terminate at 11:59 p.m. (Toronto time) on the day that is the first day after the day on which the Designated Eligible Lease relating to such Equipment is terminated.

  • The Lessor hereby gives notice to the Concurrent Lessee that it grants to the Concurrent Lessee, a lease to possess and use the Equipment (as listed in the attached Report), all in accordance with the terms of the Concurrent Lease Agreement.

  • Unless the Concurrent Lessee notifies the Lessor that the Concurrent Lessee has elected not to enter into a Concurrent Lease within two Business Days of receipt of a Concurrent Lease Request, then, subject to the terms and conditions hereof, including section 4.2(c), the Concurrent Lessee will be deemed to have agreed to lease from the Lessor the Equipment set out in such Concurrent Lease Request on the terms and conditions of this Agreement.

  • It is the intention of the parties that this Agreement, including each Concurrent Lease, when duly executed and delivered by the parties, shall constitute a deed.

  • In consideration of the grant by the Lessor to the Concurrent Lessee of each Concurrent Lease, the Concurrent Lessee shall pay to the Lessor during the term of each such Concurrent Lease, on the first day of each calendar month after the relevant Lease Date, as monthly rent, an amount equal to 99.99% of the sum of all payments of Rent forming part of the Scheduled Payments to be made in respect of the relevant Designated Eligible Leases during the most recently completed Reporting Period.

  • Except as provided herein, the Lessor shall not be entitled to terminate the Concurrent Lease in respect of the Equipment forming the subject matter of any Designated Eligible Lease.

  • Subject to section 3.3(b), upon receipt of such notice the Concurrent Lessee shall be entitled to require the Lessor to terminate the Concurrent Lease with respect to the Equipment forming the subject of the relevant Designated Eligible Lease, in which case the Collector shall be entitled to take any such action described in any of sections 3.3(a)(i) through (iv) only following the termination of the Concurrent Lease relating to such Equipment.

Related to Concurrent Lease

  • Wet Lease means any arrangement whereby Lessee or a Permitted Sublessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Lessee or a Permitted Sublessee, provided that Lessee's obligations under this Lease shall continue in full force and effect notwithstanding any such arrangement.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Consent Agreement means this Consent Agreement, duly signed and concluded between the Commission and the Respondent, as contemplated in section 40(1) of the Act.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;