Lease Term definition
Examples of Lease Term in a sentence
Lessor hereby grants to Lessee during the Lease Term a license to use and enforce all warranties, guaranties, indemnities and similar rights (collectively, the “Warranties”) which Lessor may have against any manufacturer, seller, engineer, contractor or builder in respect of any of the Properties.
The representations in this Section 5.05 shall be true and correct at all times during the Lease Term.
Effective upon Prime Landlord’s draw of such amount, the remaining amount of the Letter Credit required to be maintained for the remainder of the Prime Lease Term is $760,000.
During the Lease Term, if (a) Lessor receives and intends to accept a bona fide written offer to purchase one or more of the Properties or any portion of a Property, or (b) extends a bona fide written offer to sell one or more of the Properties or any portion of a Property (in each case, an “Offered Property”), Lessor shall provide Lessee with written notice of its intention prior to entering into any binding agreement with respect to the Offered Property (the “ROFR Notice”).
Upon the request of Lessor or Lessee, the parties hereto will, at the expense of the requesting party, execute and exchange an instrument in recordable form setting forth the extension of the Lease Term in accordance with this Section 3.03.