Examples of Prior Lessee in a sentence
LESSOR will not be liable for any loss or expense, or any loss of profit, arising from any delay or failure in Delivery to LESSEE unless such delay or failure arises as a direct consequence of the willful misconduct of LESSOR, and in no event will LESSOR be liable for any delay or failure which is caused by any breach or delay on the part of Prior Lessee.
LESSOR and LESSEE expressly acknowledge that Delivery of the Aircraft to LESSEE is subject to and conditioned upon redelivery of the Aircraft by Prior Lessee to LESSOR in accordance with the terms of the Prior Lessee Lease Agreement.
By a Declaration of Restrictions executed by the Prior Lessor, recorded September 11, 1990 in Official Records as Recorder’s Serial No. 90-53574, Prior Lessee obtained a non- exclusive right to use six (6) parking spaces at 1412 2nd Street, San Rafael California (APN 11- 252-10) ( “Parking Rights”).
Pursuant to the Original Ground Lease, Prior Lessor and Prior Lessee executed a Memorandum of Ground Lease, dated November 6, 1989 ( “Original Memorandum”), and caused the original Memorandum to be recorded in the official records of Marin County (“Official Records”) on November 30, 1989 as Document No. 89-69343.
On or about May 19, 2006, Prior Lessee became affiliated with and is now a wholly owned subsidiary of Lessee and may hereafter be merged into Lessee.
Subject to LESSEE having performed all of the conditions precedent to Delivery set forth in this Lease (or, if applicable, LESSOR's waiver of one or more of such conditions precedent such that, after giving effect to such waiver, all conditions precedent have been satisfied or deemed satisfied), immediately following redelivery of the Aircraft from Prior Lessee to LESSOR, LESSOR will deliver the Aircraft to LESSEE at the Delivery Location.
Lessor will provide Lessee with all computerized records that Lessor received from Prior Lessee and any other prior operators.
Neither LESSOR nor any other Relevant Party will be liable for any loss or expense arising from any delay or failure in Delivery to LESSEE except that LESSOR will be liable for any loss or expense to the extent that such delay or failure arises solely and directly as a consequence of the Gross Negligence of LESSOR or any Servicer, and in no event will LESSOR be liable for any delay or failure which is caused by any breach or delay on the part of Prior Lessee or any other Person (other than any Servicer).
LESSOR and LESSEE expressly acknowledge that Delivery is subject to and conditioned upon redelivery of the Aircraft by Prior Lessee in accordance with the terms of the Prior Lessee Lease Agreement.
If LESSEE fails to (a) comply with the conditions contained in Articles 7.1 and 7.2 so as to allow Delivery to take place immediately following redelivery of the Aircraft by Prior Lessee to LESSOR or (b) take delivery of the Aircraft when properly tendered for delivery by LESSOR in the condition required hereunder, LESSEE will indemnify LESSOR for all costs and expenses incurred by LESSOR as a result thereof.