Leasing Term definition
Examples of Leasing Term in a sentence
At the end of the Leasing Term, the Pet Deposit shall be added to the Security Deposit and be subject to all of the other terms and conditions regarding the Security Deposit.
Subject to the terms and conditions of this Section 5.2, the Partnership shall furnish to Purchaser during the Employee Leasing Term the services of the Current Business Employees to perform the functions and services that were performed by the Current Business Employees as of immediately prior to the Closing Date (the “Leased Employees”).
The Partnership shall obtain and keep in force at all times during the Employee Leasing Term liability insurance coverage on the same terms and conditions as maintained by the Partnership prior to the Closing (“Liability Insurance Coverage”) relating to the acts, omissions or employment of all Leased Employees, including general liability and workers compensation, as though the Leased Employees had remained assigned to a facility operated by the Partnership.
All other terms and conditions with respect to the payment of rental charges shall be substantially as set forth in the Leasing Term Sheet.
The parties hereby acknowledge and agree to negotiate in good faith such amendments to this Agreement or the Leasing Term Sheet, as any of the parties may reasonably request, to reflect and better define the respective rights and obligations of the parties in a context where HUBCO leases a Facility and subsequently (through a HUBCO Subsidiary) subleases a Space therein to Strategic Anchor Tenant.
During the Employee Leasing Term, the Partnership shall (i) use its reasonable efforts to cause each of the Leased Employees to continue to be employed by the Partnership and (ii) direct each of the Leased Employees to continue to provide to the Partnership the services and perform the functions that such individual provided to the Partnership immediately prior to the Closing Date (together with reasonable modifications of such functions in the ordinary course of business as requested by Purchaser).
During the Employee Leasing Term, all Leased Employees shall be and remain employees of the Partnership and may be disciplined, transferred or discharged only by the Partnership.
The parties agree that the terms and conditions of each Final Tenancy Agreement (as defined below) shall be substantially as set forth in the Leasing Term Sheet (as defined below), except for modifications which are necessary to make any business terms enforceable under the local law of each country where such Space is located (such modifications "Local Law Modifications").
All Leased Employees shall perform their usual and customary functions for a period not to exceed the Employee Leasing Term.
Leased Employees providing services to Purchaser under this Section 5.2 shall at all times during the Employee Leasing Term remain employees of the Partnership.