Calgary Lease Sample Clauses

Calgary Lease. To the extent not assigned to Purchaser or any of its Affiliates on the Closing Date, Sellers agree to use commercially reasonable efforts to assign, or cause to be assigned, the real property lease for the office suite located at 000 0xx Xxxxxx, Xxxxx 0000, Xxxxxxx, Xxxxxxx X0X 0X0, Xxxxxx (the "Calgary Lease"), from PLM Railcar Management Services Canada Limited, a company incorporated in Alberta, Canada ("PLM Railcar"), as lessee, to Purchaser or any of its Affiliates (as designated by Purchaser) pursuant to an assignment in form and substance satisfactory to Purchaser. From and after the date of assignment of the Calgary Lease to Purchaser or any of its Affiliates, Purchaser agrees that all liabilities or obligations of PLM Railcar with respect to, arising out of, or relating to the Calgary Lease shall be Assumed Liabilities hereunder, and Purchaser shall indemnify and hold PLM Railcar and Sellers harmless against any and all such liabilities and obligations. Nothing in this Section 5.23 shall be deemed to require Sellers to assign, or cause to be assigned, the Calgary Lease to Purchaser or any of its Affiliates, and Sellers shall have no liability to Purchaser or any its Affiliates, and no Purchaser Indemnified Party shall have suffered any Damages, in the event that the Calgary Lease is terminated prior to any assignment or is not assigned to Purchaser or any of its Affiliates. Further, nothing in this Section 5.23 shall be deemed to require Sellers to pay or provide any security deposits or other economic incentives to the landlord under the Calgary Lease to effect any assignment of such lease to Purchaser or any of its Affiliates.
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Calgary Lease. Prior to Closing, Seller shall legally terminate or otherwise assign that certain Lease of Office Space, dated as of December 21, 2010, as amended, between the Company and Bow Valley Leaseholds Limited (“Calgary Lease”), and Buyer shall have no obligations thereunder or liability therefor.
Sample 1
Calgary Lease. The parties acknowledge that the landlord of the warehouse that Seller leases on a month-to-month rate card basis in Cxxxxxx, Xxxxxxx, Xxxxxx intends to shut down the warehouse prior to or at the end of December 2008, as described on Schedule 3.1(h). The parties shall cooperate in a commercially reasonable manner to transfer all Inventory located at the Calgary warehouse to another warehouse or other location on or before Closing, it being acknowledged that the transfer of such Inventory may not be practicable prior to the Closing. All reasonable freight and handling charges incurred in connection with such transfer shall be paid by Seller. Seller will cooperate with Buyer in any commercially reasonable manner to facilitate Buyer’s efforts to make alternative arrangements for the Inventory in the Calgary warehouse, but any costs incurred after Closing associated with such alternative arrangements shall be paid by Buyer unless the parties expressly agree in writing to the contrary. Notwithstanding any other provision herein, in the event the landlord requires that Seller enter into any new agreement or arrangement to continue to use the Calgary warehouse either prior to or after the Closing, the parties agree that Seller may, in consultation with the Buyer, enter into a new or modified month-to-month lease or arrangement with the landlord.
Sample 1

Related to Calgary Lease

  • Ground Lease Reserved.

  • Operating Lease Without Lender’s prior written consent, Borrower shall not permit Mortgage Borrower or Property Owner to (a) surrender, terminate or cancel the Operating Lease; (b) reduce or consent to the reduction of the term of the Operating Lease; (c) increase or consent to the increase of the amount of any charges under the Operating Lease; (d) modify, change, supplement, alter or amend the Operating Lease or waive or release any of Borrower’s or Property Owner’s rights and remedies under the Operating Lease, except as contemplated in connection with a Restructuring; or (e) waive, excuse, condone or in any way release or discharge Operating Lessee of or from Operating Lessee’s material obligations, covenants and/or conditions under the Operating Lease, except to the extent such Operating Lessee’s obligations are assumed in connection with a Restructuring. Notwithstanding the foregoing provisions of this Section 5.2.12 to the contrary, Borrower may cause or permit Mortgage Borrower and Property Owner to amend the Operating Lease without Lender’s prior written consent as follows: (i) in connection with a Release Prepayment, the Operating Lease shall be amended (or deemed amended) to (x) terminate the Operating Lease with respect to the applicable Released Property and (y) reduce the amount of Minimum Rent (as defined in the Operating Lease) by the amount of Minimum Rent allocable to such Released Property as set forth in the Operating Lease; (ii) increase or reduce the amount of Percentage Rent (as defined in the Operating Lease) payable under the Operating Lease; and (iii) increase or reduce the amount of Minimum Rent payable under the Operating Lease; provided, that in the case of an increase in Minimum Rent, such Minimum Rent shall only be increased to the then fair market value, based on transfer pricing studies conducted by an Independent CPA reasonably acceptable to Lender (any “Big 4” Independent CPA being deemed acceptable).

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean 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:

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • Existing Leases To Seller’s knowledge, (i) other than the Leases listed in the Rent Roll, Seller has not entered into any contract or agreement with respect to the occupancy of the Property or any portion or portions thereof which will be binding on Purchaser after the Closing; (ii) the copies of the Leases heretofore delivered by Seller to Purchaser are true, correct and complete copies thereof; and (iii) the Leases have not been amended except as evidenced by amendments similarly delivered and constitute the entire agreement between Seller and the tenants thereunder.

  • Lease Assignment To the best of Seller's knowledge, the ------------------ Tenant has not assigned its interest in the Lease or sublet any portion of the premises leased to the Tenant under the Lease.

  • New Lease In the event of the termination of this Lease as a result of Tenant's default prior to the expiration of the term, or in the event of a rejection by Landlord or Tenant of this Lease under Chapter 11 of the Bankruptcy Code, Landlord shall, in addition to providing the notices of default and termination as required by this Lease, provide each Leasehold Mortgagee with written notice that the Lease has been terminated or that Landlord has filed a request with the Bankruptcy Court seeking to reject the Lease, together with a statement of all sums which would at that time be due under this Lease but for such termination or rejection, and of all other defaults, if any, then known to Landlord. Upon any request of the Leasehold Mortgagee, or its designee, Landlord agrees to enter into a new lease ("New Lease") of the Premises with such Leasehold Mortgagee or its designee for the remainder of the term of this Lease, effective as of the date of termination or rejection, as the case may be, at the Rent, and upon the terms, covenants and conditions (including all transfer rights, but excluding requirements which are not applicable or which have already been fulfilled) of this Lease; provided, however, that (i) the Leasehold Mortgagee whose lien upon the Premises is superior to the lien of any other Leasehold Mortgage (the "Senior Leasehold Mortgagee") shall have the right to give notice of its intent to enter into a New Lease to the Landlord for a period of 60 days from its receipt of the notice referred to in the first sentence of this Section 18.2.18 and (ii) if the Senior Leasehold Mortgagee does not exercise its right to enter into the New Lease during this 60-day period; the Leasehold Mortgagee whose lien upon the Premises is superior to the lien of any other Leasehold Mortgage (other than the Senior Leasehold Mortgagee) shall have the right to give notice of its intent to enter into a New Lease to the Landlord during the remainder of the period(s) specified below; and provided further, however,

  • Existing Lease The Lease shall be materially on the same terms and conditions as the Existing Lease, save as modified or amended in this term sheet and subject to any necessary changes to reflect the City of Toronto, rather than the Board, as Landlord.

  • True Lease Landlord and Tenant intend for this Lease to be a true lease and not a transaction creating a financing arrangement. Each party shall take all reasonable steps to reflect the transaction represented hereby in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment.

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