Lessor definition

Lessor as used herein shall mean the owner or owners at the time in question of the fee title to the Premises. In the event of a transfer of Lessor's title or interest in the Premises or in this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor at the time of such transfer or assignment. Except as provided in Paragraph 15.3, upon such transfer or assignment and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined.
Lessor as used herein shall mean only the owner or owners, at the time in question, of the fee title or a lessee's interest in a ground lease of the Office Building Project, and except as expressly provided in paragraph 15, in the event of any transfer of such title or interest, Lessor herein named (and in case of any subsequent transfers then the grantor) shall be relieved from and after the date of such transfer of all liability as respects Lessor's obligations thereafter to be performed, provided that any funds in the hands of Lessor or the then grantor at the time of such transfer, in which Lessee has an interest, shall be delivered to the grantee. The obligations contained in this Lease to be performed by Lessor shall, subject as aforesaid, be binding on Lessor's successors and assigns, only during their respective periods of ownership.
Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

Examples of Lessor in a sentence

  • Lessor accounting under HKFRS 16 is substantially unchanged from HKAS 17.

  • The Lessor can demand that this guarantee amount be adjusted, so that the guarantee corresponds, at all times, to the sum of 6 months' indexed monthly rent incl.

  • If the rent or other mandatory payments under the Lease Agreement are not paid on time or within ten (10) calendar days of a written reminder of due payment under the Lease Agreement, the Lessee shall be deemed to be in material breach of the Lease Agreement and the Lessor shall be entitled without further notice to cancel the Lease Agreement and recover the Leased Premises.

  • The Lessor begins installation four (4) weeks before the agreed transfer date, provided that a building permit is available.

  • The Lessor is not liable for operating losses, profit losses or other indirect losses.


More Definitions of Lessor

Lessor as used in this Lease, means only the owner for the time being of the land and building constituting the Premises, so that, in the event of any sale of said land or building, or in the event of a Lease of said building, Lessor shall be and hereby is entirely freed and relieved of all covenants and obligations of Lessor hereunder, and it shall be deemed and construed, without further agreement between the parties and the purchaser of any such sale, or the Lessor of the building, that the purchaser or lessor of the building has assumed and agreed to carry out any and all covenants and obligations of the Lessor hereunder. If any security is given by Lessee to secure the faithful performance of all or any of the covenants of this Lease on the part of Lessee, Lessor may transfer and deliver the security, as such, to the purchaser at any such sale of the building, and thereupon the Lessor shall be discharged from any further liability.
Lessor means any person who is the legal or beneficial owner of or who holds a minority interest or superior leasehold interest in Property that is used or occupied by,or on behalf of, or in possession of the Deed Company or in relation to which the Deed Company is liable on the date of the Administration Order to pay any amount in connection with the occupation of the Property;
Lessor means each Person that is a lessor under a Lease or assignee thereof, including the Issuing Entity.
Lessor means in respect of an automobile, a person who is leasing or renting an automobile to another person for any period of time and “leased” has the corresponding meaning.
Lessor means a person who regularly provides the use of property through lease-purchase agreements and to whom lease payments are initially payable on the face of the lease-purchase agreement.
Lessor as used in this Lease means the lessor of the Aircraft at the time in question. In the event of the sale of the Aircraft and transfer of LESSOR's rights and obligations under this Lease, LESSOR's Assignee will become "LESSOR" of the Aircraft under this Lease and the transferring party (the prior "LESSOR") will be relieved of all liability to LESSEE under this Lease for obligations arising on and after the date the Aircraft is sold. LESSEE will acknowledge and accept LESSOR's Assignee as the new "LESSOR" under this Lease and will look solely to LESSOR's Assignee for the performance of all LESSOR obligations and covenants under this Lease arising on and after the Aircraft sale date.