EFFECT ON LEASE definition

EFFECT ON LEASE. If LANDLORD sells or transfers all or any portion of the Building, other improvements, and land of which the Premises are a part, LANDLORD, on consummation of the sale or transfer shall be released from any liability thereafter accruing under this lease, but with respect to TENANT, shall retain liability for any acts or omissions of LANDLORD or its authorized representatives accruing and written notice of which has been given to LANDLORD by TENANT prior to the date of such transfer, unless such liability is assumed by LANDLORD'S transferee in a written agreement approved by TENANT. If any security deposit or prepaid Rent has been paid by TENANT, LANDLORD can transfer the security deposit or prepaid Rent to LANDLORD'S successor and on such transfer LANDLORD shall be discharged from any further liability in reference to the security deposit or prepaid rent, provided that such transferee shall have assumed LANDLORD'S obligations hereunder in a written agreement approved by TENANT."
Sample 1

Examples of EFFECT ON LEASE in a sentence

  • EFFECT ON LEASE AGREEMENT.—Paragraph (1) shall not affect the authority of the Secretary to carry out this section in the case of any lease agreement that was entered into by the Secretary before October 1, 2023.

  • EFFECT ON LEASE: If LANDLORD sells or transfers all or any portion of the building, other improvements, and land of which the Premises are a part LANDLORD, on consummation of the sale or transfer, shall be released from any liability thereafter accruing under this Lease.

Related to EFFECT ON LEASE

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Real Property Lease means any lease, sublease, license or other Contract with respect to Real Property.

  • Head Lease or “Superior Lease” means the document which sets out the promises the Landlord has made to the Superior Landlord. The promises contained in this Head Lease will bind the Tenant if he has prior knowledge of those promises.

  • Original Lease shall have the meaning given such term in the recitals to this Agreement.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Material Lease has the meaning set forth in Section 3.17(a).

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit K with such amendments or modifications as may be approved by Collateral Agent.

  • GENERAL AND SPECIAL CONDITIONS OF CONTRACT means the instructions to Tenderer and General and special conditions of contract pertaining to the work for which above tenders have been called for.

  • Master Lease Agreement has the meaning set forth in Section 7.2(c)(xiv).

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Lease Guaranty A guaranty of certain obligations of Tenant under this Lease executed and delivered by each Guarantor substantially in the form of Exhibit G annexed hereto.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Landlord Agreement means an agreement substantially in the form provided by Lender to Borrower or such other form as Lender may agree to accept.

  • Landlord Consent and Estoppel means, with respect to any Leasehold Property, a letter, certificate or other instrument in writing from the lessor under the related lease, pursuant to which, among other things, the landlord consents to the granting of a Mortgage on such Leasehold Property by the Credit Party tenant, such Landlord Consent and Estoppel to be in form and substance acceptable to Collateral Agent in its reasonable discretion, but in any event sufficient for Collateral Agent to obtain a Title Policy with respect to such Mortgage.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Site Lease means the lease of part of the Site from the Minister for Finance on behalf of the State to the Company;' ;

  • 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.

  • Environmental Indemnity Agreement means the Environmental Indemnity Agreement dated as of the Closing Date, from Borrower and the Guarantor, collectively, as indemnitor, to Lender, as indemnitee, as the same may be amended, modified or supplemented from time to time.

  • Labor peace agreement means an agreement between an entity and a

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

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • industrial agreement means an agreement registered by the Commission under this Act as an industrial agreement;