Demise Premises definition
Examples of Demise Premises in a sentence
Lessee, at its sole cost and expense, shall arrange with the public utility company servicing the Building of which the Demise Premises are a part for electric service at the Demised Premises (including that necessary for the providing of heating, ventilation, and air conditioning to the Demised Premises).
In the event the Lessee fails to vacate the Demised Premises, the Lessor have right to revise rent until the date of vacate the Demise Premises.
Tenant agrees to indemnify and hold Landlord harmless from all damages, liabilities, and expenses which may arise or be claimed for any injuries, loss, or damages to the person or property of any persons, firm, or corporation consequent upon or arising from the use or occupancy of the Demise Premises by Tenant of from any acts, omission, neglect, or fault of Tenant, its agents, invitees, customers, or employees.
Lessee shall furnish Lessor with such bond or bonds prior to the commencement of any construction on the Demise Premises.
Additionally, Tenant shall have the right to utilize the parking spaces located on the adjacent pier between the Demise Premises and the mooring field bath house on a non-exclusive basis.
In the event any new law, rule, ordinance or regulation takes effect after the date hereof and requires the Landlord to do any work of a capital nature in the Demise Premises and/or the building, the Tenant shall pay, in equal monthly installments over the remainder of the lease term to the Landlord, 1/6th of the cost multiplied by the remaining months under the Lease divided by one hundred twenty (120).
Except as expressly provided in Section 15.2 below, after any damage or casualty to the Building or the Demised Premises, Lessee shall, at its expense, promptly repair and restore the Building and Demised Premises to substantially their condition prior to such damage or destruction so that the fair market value of the Building and Demise Premises are substantially equal to the value thereof immediately prior to the casualty.
LANDLORD represents and warrants that any handling, transportation, storage,treatment or usage of hazardous or toxic substances (as defined by any applicant government authority and hereinafter being referred to as "Hazardous Materials") that has occurred or will occur on the Demise Premises shall be in compliance with all applicable federal, state and local laws, regulations and ordinances.
Tenant further agrees to pay as additional rent all charges for water, sewer, gas, oil, electricity, light, heat, power, telephone or other utility used by Tenant at the Demise Premises during the Demised Term.
Landlord reserves the exclusive right to use for any purpose whatsoever the roof and exterior of the walls of the Demise Premises of the building of which the Demised Premises are a part.