Examples of Development Lease (Office Condominium) in a sentence
Without limiting the generality of any other provision of this Agreement, Assignee's covenants and obligations contained in this Section 12 shall survive Closing and shall be deemed a continuing obligation of Assignee and its successors and assigns and shall not merge with the Assignment and Assumption of Development Lease (Office Condominium) or any other documents delivered at the Closing.
Assignee shall be responsible for payment of any GPLET under the Development Lease (Office Condominium) commencing at such time as said abatement of GPLET shall expire, all in accordance with the terms and provisions of the Development Lease (Office Condominium).
The rent payable to the City pursuant to the Development Lease (Office Condominium) shall be pro-rated as of the Closing Date and Assignee shall be responsible for all rent (and other amounts) payable pursuant to the Development Lease (Office Condominium) following the Closing Date.
Assignor shall pay any and all costs, fees and other charges (if any) imposed by the City of Phoenix in connection with the assignment of the Development Lease (Office Condominium) from Assignor to Assignee.
The First Sale Payment (as defined by the Development Lease) payable to the City of Phoenix pursuant to the Development Lease (Office Condominium) in the amount of $25,000, in respect of the assignment and assumption of the Office Condominium shall be paid in full by Assignor at Closing.
Assignor and Assignee shall cooperate to prepare and timely submit any required filings, with the applicable governmental entities, in respect of the Development Lease (Office Condominium) for the tax year in which the Closing occurs and, as and when applicable, Assignee shall be responsible for any government property lease excise tax (“GPLET”) payable in respect of the Development Lease (Office Condominium) following the Closing Date.