Option to lease definition

Option to lease means a contract by which a local agency enters an agreement with another entity to allow the latter to lease surplus land at a specified rate for a specified term, or within a reasonable time in the future, but without imposing an obligation to lease upon the option holder.
Sample 1Sample 2Sample 3
Option to lease means an option issued by the Minister under subsection 44A(4) of the Act to lease a tract of Crown land that is not designated as an aquaculture development area;
Sample 1Sample 2Sample 3
Option to lease. The option to lease with respect to Building B executed by Landlord and Tenant simultaneously with the execution hereof.
Sample 1Sample 2

Examples of Option to lease in a sentence

  • The parties entered into an Exclusivity Agreement in March 2017 and an Option to lease the land was signed in April 2019.


More Definitions of Option to lease

Option to lease has the meaning ascribed thereto in Section 2.12(b);
Sample 1
Option to lease the land shall be at the rate of $200 per month from May 1, 2004 through the earliest of conversion to a “Land Lease” or December 31, 2006.
Sample 1
Option to lease means that certain Option to Lease, dated as of December 9, 2004, between Williston Road Investment, LLC, as “Lessor”, and Seller as “Lessee”, [as the same may be amended by that certain First Amendment to Option to Lease to be executed by Williston Road Investment, LLC, as “Lessor”, and Seller as “Lessee”,] providing an option to ground lease approximately one (1) acre of land contiguous to the Land for additional parking, all on the terms and conditions set forth therein.
Sample 1
Option to lease renew Lessee shall have an option to extend the Operating Term for three (3) additional terms of five (5) years and upon such extensions the Operating Term lease rent shall be reset to the market rate at the time of such extension. Development Term lease rent: Operating Term lease rent: Other payments: Xxxx January 6, 2020
Sample 1
Option to lease. (a) Base Rent: $10,617.00 for the period June 1, 2016 through June 30 , 2016.
Sample 1
Option to lease means the option of Naporano Iron to lease the property located at 295 Doremus, Newark, New Jersey substantially in the form of Exhibit H.
Sample 1

Related to Option to lease

  • Option to Build means the option of the New Service Customer to build certain Customer- Funded Upgrades, as set forth in, and subject to the terms of, the Construction Service Agreement.

  • Renewal Option has the meaning set forth in §12.1.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Option to Purchase has the meaning set forth in Section 13.1.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Major Lease shall have the meaning assigned to such term in the Mortgage Loan Agreement.

  • Addition (to an existing building means an extension or increase in the floor area or height of a building or structure.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.