Notwithstanding anything to the contrary in the EOG JOA, ZaZa shall pay for Quantum’s pro rata share of all lease extensions and renewals with respect to EOG Leases expiring in calendar year 2014 in which either ZaZa or Quantum elects to participate pursuant to the EOG JOA.
Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.
Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.
Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.
New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.
Master Leases means the PropCo Master Leases and each other Material Master Lease.