Related Leases definition
Examples of Related Leases in a sentence
Lessee may not exercise its option for more than one Extended Term at a time and may exercise the option to extend for an Extended Term if all of the Related Leases are simultaneously extended by Lessee or its Affiliates, as the case may be.
Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases.
If Lessee fails to deliver to Lessor the Notice to Extend within ten (10) days thereafter, Lessee shall be deemed to have elected not to extend this Lease and the Related Leases, such option to extend and all future options to extend granted in this Article XVIII or in the Related Leases shall be null and void and of no further force or effect.
Lessor and Lessee acknowledge and agree that this Lease is to be cross-defaulted with the Related Leases and every other lease now or hereafter entered into between Lessor (or any of its Affiliates) and Lessee (or any of its Affiliates) with respect to any assisted living facility (collectively, the "Other Leases"), each of which shall (if Lessor so requests) be specifically amended to confirm that they are cross-defaulted as additional security for Lessee's performance under this Lease.
Lessee may not exercise its option for more than one Extended Term at a time and may exercise the option to extend only if all of the Related Leases are simultaneously extended by Lessee or its Affiliates.