Current Occupant definition

Current Occupant means any tenant, licensee or other similar party in occupancy at any of the Properties under Leases or Temporary Occupancy and Ancillary Agreements (and collectively, “Current Occupants”). “Former Occupant” shall mean any tenant, licensee or other similar party who was, but is no longer, in occupancy at any of the Properties pursuant to a Defaulted Agreement (and collectively, “Former Occupants”). “Defaulted Agreement” means any lease, license or other agreement between a Former Occupant and a Property Owner in which Former Occupant has defaulted under its obligation to pay the applicable Property Owner a sum of money, and such amounts remain unpaid as of the Effective Date or as of the Closing Date (and collectively, “Defaulted Agreements”). Buyer and Seller agree that Seller may update Schedule 5.1(a)-1, 5.1(a)-2 and/or 5.1(a)-3 with respect to any defaults involving Pre-Closing Rents that may exist as of the Closing Date.
View Source

Examples of Current Occupant in a sentence

  • Subject to the policy limits of the insurance coverage as mutually agreed by the Parties, IPS will protect, defend, indemnify, and save harmless Operator from and against all claims and suits (including any suit which may be filed by Current Occupant, including court costs, attorneys’ fees, and other expenses, caused by the acts or omissions of IPS, its employees, officers, directors, trustees, subcontractors or agents in relation to the School or the performance of its obligations under this Agreement.

  • The Current Occupant is in the process of purchasing and moving to a new location.

  • Landlord shall pay the Current Occupant a relocation fee to vacate Suite E prior to the Delivery Date, which relocation fee ($45,000.00) exceeds Twenty-two Thousand Five Hundred Dollars ($22,500).

  • Subject to any holdover by the Current Occupant and the surrender of the Premises by the Current Occupant in accordance with the terms and conditions set forth in the Prior Lease and Assignment, Landlord shall use commercially reasonable efforts to tender possession of the Premises to Tenant on the Estimated Term Commencement Date.

  • Following the vacation of the First Expansion Space and the surrender the possession thereof by the Current Occupant, Landlord shall deliver the First Expansion Space to Tenant in a broom clean condition with all of the Current Occupant’s trade fixtures removed, but otherwise in “as is, where is” condition.

  • Landlord is currently working to arrange the vacation of the First Expansion Space by the Current Occupant.

  • Description of Existing Terrain Flat Current Use of Site Pension & Restaurant Current Occupant of Site RMC Owner of Site RMC Distance to Nearest Building/Development 1km Is it Intended that the installation of the INNOQUA Treatment Technology be permanent YES Details of Existing Effluent Discharge Consents If Any Permit from local Water Authority Is Planning Consent Required for Installation on the Demonstration Site Yes from local Communal Hall.

  • In the event that Current Occupant timely exercises its Renewal Right (“Renewal Event”), (x) Landlord shall deliver written notice to Tenant (“Renewal Event Notice”), (y) this Lease shall automatically terminate and be of no further force or effect and (z) Landlord shall return to Tenant the Security Deposit, to the extent delivered to Landlord, and any other sums paid by Tenant to Landlord in connection with this Lease.

  • Upon (i) execution of this Lease by Tenant, and (ii) execution of a lease termination agreement between Landlord and the Current Occupant of the Premises, in form and substance satisfactory to Landlord, in its sole discretion, and (iii) the vacation of the Premises by the Current Occupant on or before December 1, 2001, Landlord shall make possession of the Premises available to Tenant.

  • Lessee acknowledges that the Expansion Premises are currently occupied by another lessee ("Current Occupant") whose lease expires on or about December 31, 1994.

Related to Current Occupant

  • Transient occupancy means occupancy in transient lodging that has all of the following

  • Prior Occupancy means Owner’s use of all or parts of the Project before Substantial Completion, as more fully set forth in Section 6.08 A.

  • Permitted Occupier means if used in the Agreement, any person who is licensed or permitted by the Landlord to reside at the Property together with the Tenant and who does so as a rent free licensee of the Tenant.

  • Owner-occupied means property that is the principal

  • Maximum Occupancy means the maximum number of occupants permitted on the Premises;