Bond Lease. Immediately upon effectiveness of this Agreement, the Company and Issuer will enter into the Bond Lease, pursuant to which Issuer will sublease the property subject to the Project Site Lease and lease the Project Property to the Company, and the terms and conditions of the Bond Lease will govern such arrangement. The parties intend that this Agreement will remain in effect following execution of the Bond Lease and that neither will be merged into the other. Notwithstanding any claim or provision in the Project Site Lease, the Company’s environmental indemnity contained in Section 4.06 of the Bond Lease should extend to the Issuer for its protection in connection with its interest in this Agreement.
Bond Lease. Any present or future law to the contrary notwithstanding, this Sublease shall not terminate, nor shall Subtenant be entitled to any abatement, suspension, deferment, reduction, setoff, counterclaim, or defense with respect to the Subrent, nor shall the obligations of Subtenant hereunder be otherwise affected, by reason of: (1) any defect in the condition, merchantability, design, construction, quality or fitness for use of the Premises or any part thereof, or the failure of the Premises to comply with any legal requirements, including any inability to occupy or use any such Premises by reason of such non-compliance; (2) any damage to, removal, abandonment, salvage, loss, contamination of or release from, scrapping or destruction of or any requisition or taking of any portion of the Premises or any part thereof; (3) any restriction, prevention or curtailment of or interference with the construction on or any use or any portion of the Premises or any part thereof including eviction; (4) any defect in title to or rights to any portion of the Premises or any lien on such title or rights or on any portion of the Premises; (5) any change, waiver, extension, indulgence or other action or omission or breach in respect of any obligation or liability of or by Overlandlord, Sublandlord or any Leasehold Mortgagee; (6) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceedings relating to Overlandlord, Sublandlord, Subtenant or any other Person, or any action taken with respect to this Sublease by any trustee or receiver of Overlandlord, Sublandlord, Subtenant or any other Person, or by any court, in any such proceeding; (7) any claim that Subtenant has or might have against any Person, including without limitation Overlandlord, Sublandlord, any Mortgagee, or any vendor, manufacturer, contractor of or for any portion of the Premises; (8) any failure on the part of Overlandlord or Sublandlord to perform or comply with any of the terms of the Xxxxxxxxx, this Sublease or of any other agreement; (9) any invalidity or unenforceability or illegality or disaffirmance of the Xxxxxxxxx, this Sublease or any provision thereof or hereof against or by Overlandlord, Sublandlord or Subtenant or of any Leasehold Mortgage or any document or instrument executed in connection with such Leasehold Mortgage or by the parties thereto; (10) the impossibility or illegality of performance by Overlandlord, Subtenant, Sublandlord or a...
Bond Lease. Counterparts of the Bond Lease and a ---------- memorandum thereof, duly executed by the Issuer and the Lessor and, in the case of the memorandum, in recordable form, shall have been delivered to the Agent.
Bond Lease. This Lease is what is commonly called a "bond lease", it being understood that Landlord shall receive all Rent as provided in this Article net of any and all Impositions, Encumbrances, charges, costs, liabilities or expenses of any nature whatsoever in connection with the ownership and operation of the Property.
Bond Lease. THIS LEASE IS A BOND LEASE AND THE MINIMUM RENT, ADDITIONAL RENT AND ALL OTHER SUMS PAYABLE BY TENANT HEREUNDER SHALL BE PAID IN ALL EVENTS AND WITHOUT NOTICE OR DEMAND, AND WITHOUT COUNTERCLAIM, SETOFF, DEDUCTION, DEFENSE, ABATEMENT, SUSPENSION, DEFERMENT, OR DIMUTION OF ANY KIND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN. THIS LEASE SHALL NOT TERMINATE, NOR SHALL TENANT HAVE ANY RIGHT TO TERMINATE OR AVOID THIS LEASE OR BE ENTITLED TO THE ABATEMENT OF ANY RENTS HEREUNDER OR ANY REDUCTION THEREOF, NOR SHALL THE OBLIGATIONS AND LIABILITIES OF TENANT HEREUNDER BE IN ANY WAY AFFECTED FOR ANY REASON INCLUDING (A) DAMAGE TO, DESTRUCTION OF OR ANY TAKING OF ANY PART OF THE PREMISES, (B) ANY RESTRICTION OF OR INTERFERENCE WITH ANY USE OF THE PREMISES, (C) ANY MATTER AFFECTING TITLE TO, OR ANY EVICTION FROM, THE PREMISES, (D) ANY PROCEEDING RELATING TO LANDLORD, OR ACTION TAKEN WITH RESPECT TO THIS LEASE BY ANY TRUSTEE OR RECEIVER OF LANDLORD OR BY ANY COURT IN ANY PROCEEDINGS, (E) ANY FAILURE BY LANDLORD TO PERFORM OR COMPLY WITH THIS LEASE OR ANY OTHER AGREEMENT OR BUSINESS DEALINGS WITH TENANT, (F) LANDLORD'S ACQUISITION OF OWNERSHIP OF ALL OR PART OF THE PREMISES OR OF LANDLORD'S INTEREST THEREIN OTHER WISE THAN AS PROVIDED HEREIN, (G) ANY OTHER OCCURRENCE WHATSOEVER, WHETHER SIMILAR OR DISSIMILAR TO THE FOREGOING, ANY PRESENT OR FUTURE LAW TO THE CONTRARY NOTWITHSTANDING AND WHETHER OR NOT TENANT SHALL HAVE NOTICE OR KNOWLEDGE OF ANY OF THE FOREGOING. THE OBLIGATIONS OF TENANT HEREUNDER SHALL BE SEPARATE AND INDEPENDENT COVENANTS AND AGREEMENTS. TENANT WILL REMAIN OBLIGATED UNDER THIS LEASE IN ACCORDANCE WITH ITS TERMS, AND TENANT WAIVES ALL RIGHTS NOW OR HEREAFTER CONFERRED BY STATUTE OR OTHERWISE TO MODIFY OR AVOID STRICT COMPLIANCE WITH THIS LEASE.
Bond Lease. Landlord acknowledges that Tenant is seeking the appropriate approvals for a sale and leaseback transaction with the Development Authority of Xxxx County or a related entity (the “Authority”) under which Landlord would convey the Building to the Authority in exchange for the Authority’s Taxable Industrial Development Revenue Bond (Worldspan, L.P. Project), or other denominated bond issued for such purpose (the “Bond”), and would lease the Building back from the Authority under a Lease Agreement (the “Bond Lease”) under which Landlord would pay Basic Rent matching the debt service on the Bond. The Bond Lease and Basic Rent and other collateral would be pledged by the Authority as security for the Bond under a Deed to Secure Debt, Assignment of Rents and Leases and Security Agreement (the “Security Document”) from the Authority to Landlord. The foregoing proposed transaction is herein called the “Bond Transaction.” Landlord shall reasonably cooperate with Tenant in Tenant’s efforts to complete the Bond Transaction, provided such cooperation does not impose additional expense or liability on Landlord.
Bond Lease. The Lessee will, at its expense, timely ---------- perform all of the obligations of the Lessor, in its capacity as lessee, under the Bond Lease and all obligations of the Lessor and the Lessee under any and all documents, instruments and agreements related thereto, including, without limitation, the other Bond Documents, and, if requested by the Lessor, shall provide satisfactory evidence to the Lessor of such performance.
Bond Lease. It is the purpose and intent of Landlord and Tenant that this Lease be a so-called “bond lease.” As such, Landlord and Tenant intend and agree that, except as otherwise expressly set forth herein, (a) the Base Rent and Additional Rent shall be absolutely net to Landlord, so that this Lease shall yield, net to Landlord, the Base Rent and Additional Rent specified in this Lease, (b) all costs, operating expenses, taxes, premiums, fees, interest, charges, expenses, reimbursements and obligations of every kind and nature whatsoever relating to the Premises which may arise or become due during or out of the Lease Term, excepting only the income, transfer, estate, inheritance and transfer taxes of Landlord (other than taxes expressly excluded from the definition of Taxes in Section 7 above) and amounts payable in connection with any Mortgage, shall be paid or discharged by Tenant and (c) each and every obligation of any kind or nature whatsoever that may arise or be related to the Premises, whether ordinary or extraordinary, foreseen or unforeseen, shall be paid or performed by Tenant at its sole cost and expense. In addition, except as otherwise expressly set forth herein, Tenant shall not seek, or be entitled to, any abatement, deduction, deferment or reduction of the Base Rent or Additional Rent due hereunder or any set-off against the Base Rent or Additional Rent due hereunder, nor shall Tenant’s obligations hereunder be otherwise affected for any reason whatsoever, including, without limitation, (i) any damage to or destruction of the Premises, or any portion thereof, from whatever cause, (ii) the lawful or unlawful prohibition of, or restriction upon, Tenant’s use of the Premises, or any portion thereof, or the interference with such use by any person or party; or (iii) for any other cause whether similar or dissimilar to any of the foregoing. Except as otherwise expressly set forth herein, Tenant hereby Waives all rights arising from any occurrence whatsoever, which may now or hereafter be conferred upon it by law (A) to modify, surrender or terminate this Lease or quit or surrender the Premises, or any portion thereof, or (B) which would entitle Tenant to any abatement, reduction, suspension or deferment of Base Rent or Additional Rent due hereunder or other sums payable or other obligations to be performed by Tenant hereunder. Further, it is the declared intent of Landlord and Tenant that the transaction contemplated by this Lease be construed as a leas...
Bond Lease. This Lease is a “bond type” lease in which Tenant, in addition to the payment of Base Rent, shall be directly responsible for the payment of any and all Project Expenses (defined in Paragraph 5.1.E) and all Utilities (defined in Paragraph 9) with respect to the Property, and Landlord shall have no obligations of any nature with respect to the Property, except as otherwise specifically provided in this Lease. Notwithstanding any other provision of this Lease to the contrary, Tenant shall be responsible for all repair, maintenance, replacement and construction with respect to the Property (see Paragraph 10) and, upon expiration of the Term, Tenant shall surrender the Property to Landlord in substantially the same condition as it exists as of the date hereof, reasonable wear and tear excepted, and in accordance with Paragraph 23.
Bond Lease. 2.7.1 The Authority and the Company shall enter into a lease (the “Bond Lease”) at the Closing. The Authority agrees to provide the Existing Property through the Bond Lease to the Company, at a cost of Five Hundred Thousand Dollars ($500,000) (the “Purchase Amount”), on and subject to the terms and conditions set forth below and elsewhere in this Agreement and the Bond Lease. Pursuant to the Bond Lease, the Authority will lease the Project to the Company. The form and material terms of the Bond Lease shall be negotiated and finalized by the Authority and the Company during the Due Diligence Period (as defined below). Pursuant to the Bond Lease, the Authority will hold legal title to the Project and the Authority will lease the Project to the Company. The Bond Lease shall contain terms and provisions substantially of the type normally included in bond leases between governmental “conduit” bond issuers and users of bond-financed property. The Bond Lease and related Purchase Option (as defined below) will evidence the Company’s beneficial ownership of the Project. The Bond Lease will be a triple net type lease. The Bond Lease shall permit subleases without the consent of the Authority.
