Existing Tenancies definition
Examples of Existing Tenancies in a sentence
Lessee may modify, extend (not later than the end of the Term) or terminate any of the Existing Tenancies without the prior consent of Lessor, provided that no action on the part of Lessee with respect to the Existing Tenancies may decrease the Fair Market Sales Value of the Property as of the end of the Initial Term and the Renewal Term of the Property (as previously determined by the Appraisal to be delivered pursuant to Section 3(p)) as determined by Agent in its sole and absolute discretion.
The Existing Tenancies and the Master Leasing Agreement were entered into for the provision of quarters to the senior management and executive directors of the Company and it is in the commercial interests of the Group to lease properties within the Group’s portfolio for provision of quarters to the senior management and executive directors of the Company.
The Proposed Caps and the Aggregate Annual Caps for the years ending 31 December 2019 to 2021 are illustrated as follows: For the year ending In HK$ million 31 December 2019 31 December 2020 31 December 2021 Original Annual Caps 288.0 312.6 130.5 * Proposed Caps 51.0 55.0 55.0 Aggregate Annual Caps 339.0 367.6 185.5 * up to 31 May 2021, being the last expiry date of tenancies under the Existing Tenancies.
Other than the radio tower leases, the Existing Tenancies shall be terminated by Seller prior to Closing, subject to Paragraph 3 above.
There are no leases, tenancies, licenses or occupancy agreements affecting the Premises other that the radio tower leases, leases on the b▇▇▇▇▇ buildings, and the residential leases for homes at the Premises (collectively, the "Existing Tenancies"), as listed on the schedule of tenants attached hereto as Exhibit C.
The Original Annual Caps were determined with reference to the relevant annual caps in respect of Existing Tenancies (if applicable).
The Existing Tenancies and the Leasing Arrangements contemplated under the Master Leasing Agreement therefore constitute continuing connected transactions of the Company under the Listing Rules.
Lessee accepts the assignment of Lessors' interest in and to the Existing Tenancies (including, without limitation, the right to receive all rents, additional rents and security deposits thereunder, subject to the terms of this Lease) and covenants to perform each and every obligation of the named landlord thereunder.
Purchaser may also accelerate the Closing Date by sending a written notice to Seller setting an earlier Closing Date, which date shall be no earlier than thirty (30) days from the date of such notice, provided however, that in the event of such accelerated closing, Seller shall take title to the Premises subject to the Existing Tenancies, as defined in section 18(n) below.
On 31st December 2010, the Company as tenant had entered into the Existing Tenancies with ▇▇▇ ▇▇▇▇▇▇ in respect of the leasing of certain units and car parking spaces of ▇▇▇ ▇▇▇▇ Mansion.