Cost of Leases Sample Clauses

Cost of Leases. All Leases shall be:
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Cost of Leases. All Leases shall be acquired from the Managing General Partner or its Affiliates and shall be credited towards the Managing General Partner's required Capital Contribution set forth in Section 3.03(b)(1) at the Cost of the Lease, unless the Managing General Partner shall have cause to believe that Cost is materially more than the fair market value of the property, in which case the credit for the contribution will be made at a price not in excess of the fair market value.
Sample 1
Cost of Leases. Subject to § 4.02(b)(3), all Leases sold to the Partnership by the Managing General Partner or its Affiliates shall be sold at the Cost of the Lease, unless the Managing General Partner has cause to believe that Cost is materially more than the fair market value of the Lease, in which case the Lease must be sold to the Partnership at a price not in excess of the fair market value. Also, the Managing General Partner may average the cost of the Leases by area or type of drilling to arrive at an average Cost of the Leases per Prospect for each area which the Managing General Partner believes is less than fair market value. A determination of fair market value must be supported by an appraisal from an Independent Expert.
Sample 1
Cost of Leases. Subject to § 4.02(b)(3), all Leases sold to the Partnership by the General Partner or its Affiliates, including those from the General Partner’s or an affiliate’s existing inventory, if any, shall be sold on terms that are fair and reasonable to the Unitholders. All Leases sold to the Partnership by the General Partner or its Affiliates shall be sold at the Cost of the Lease, unless the General Partner has cause to believe that Cost is materially more than the fair market value of the Lease, in which case the Lease must be sold to the Partnership at a price not in excess of the fair market value. However, if the transfer is from an affiliated Partnership that has held the Lease for more than two years, then the transfer may be made at fair market value if the General Partner’s interest is substantially similar to, or less than, its interest in the Partnership. Also, the General Partner may average the cost of the Leases by area or type of drilling to arrive at an average Cost of the Leases per Prospect for each area which the General Partner believes is less than fair market value. A determination of fair market value must be supported by an appraisal from an Independent Expert.
Sample 1
Cost of Leases. Subject to § 4.02(b)(3), all Leases sold to the Partnership by the General Partner or its Affiliates, including those from the General Partner’s or an Affiliate’s existing inventory, if any, shall be sold on terms that are fair and reasonable to the Unitholders at the Cost of the Lease, unless the General Partner has cause to believe that Cost is materially more than the fair market value of the Lease, in which case the Lease must be sold to the Partnership at a price not in excess of the fair market value. However, if the transfer is from an affiliated Partnership that has held the Lease for more than two years, then the transfer may be made at fair market value if the General Partner’s interest is substantially similar to, or less than, its interest in the Partnership. Also, the General Partner may average the cost of the Leases by area or type of drilling to arrive at an average Cost of the Leases per Prospect for each area which the General Partner believes is less than fair market value. A determination of fair market value must be supported by an appraisal from an Independent Expert.
Sample 1
Cost of Leases. All Leases shall be contributed to the Partnership by the Managing General Partner or its Affiliates at the Cost of the Lease as described in the Private Placement Memorandum under “Compensation – Lease Costs,” unless the Managing General Partner has cause to believe that Cost is materially more than the fair market value of the Lease, in which case the Lease must be contributed to the Partnership at a price not in excess of the fair market value. Also, the Managing General Partner may average the cost of the Leases by area or type of drilling to arrive at an average Cost of the Leases per Prospect for each area as described in the Private Placement Memorandum under “Compensation – Lease Costs,” which the Managing General Partner believes is less than fair market value. Additionally, from time to time, the Managing General Partner’s Costs for the Leases on a Prospect may be significantly higher than the amount set forth in the Private Placement Memorandum under “Compensation – Lease Costs,” but still may not be materially more than the fair market value of the Leases, and in that event the Managing General Partner’s Cost of the Leases under this Agreement shall be the greater amount. A determination of fair market value must be supported by an appraisal from an Independent Expert.
Sample 1

Related to Cost of Leases

  • Assignment of Leases The Assignment of Leases creates a valid assignment of, or a valid security interest in, certain rights under the Leases, subject only to a license granted to Borrower to exercise certain rights and to perform certain obligations of the lessor under the Leases, including the right to operate the Property. No Person other than Lender has any interest in or assignment of the Leases or any portion of the Rents due and payable or to become due and payable thereunder.

  • Term of Leases All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions:

  • Assignment of Leases, Rents and Profits There exists as part of the related Mortgage File an Assignment of Leases, Rents and Profits (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions (and, in the case of a Mortgage Loan that is part of a Whole Loan, subject to the related Assignment of Leases, Rents and Profits constituting security for the entire Whole Loan), each related Assignment of Leases, Rents and Profits creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Borrower to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, Rents and Profits, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related mortgagee to enter into possession to collect the rents or for rents to be paid directly to the mortgagee.

  • 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.

  • Space Leases (i) Borrower has delivered a true, correct and complete schedule of all Space Leases as of the date hereof, which accurately and completely sets forth in all material respects, for each such Space Lease, the following (collectively, the “Rent Roll”): the name and address of the tenant with the name, title and telephone number of the contact person of such tenant; the lease expiration date, extension and renewal provisions; the base rent and percentage rent payable; all additional rent and pass-through obligations; and the security deposit held thereunder and the location of such deposit.

  • Assignment of Lease Assignor hereby assigns, transfers and sets over to Assignee all of Assignor’s right, title and interest as tenant under the Lease, together with all credits, deposits, rights of refusal, options (including, but not limited to, any options to purchase or renew set forth in the Lease), benefits, privileges and rights of Assignor under the Lease.

  • Grant of Lease Landlord does hereby lease unto Tenant, and Tenant does hereby rent from Landlord, solely for use as a personal residence, excluding all other uses, the personal residence located in USA, GA, with address of: 0000 Xxxxxx Xxx, #0, Xxxxxxxxxxxx, XX, XXX Heirs And Assigns It is agreed and understood that all covenants of this lease shall succeed to and be binding upon the respective heirs, executors, administrators, successors and, except as provided herein, assigns of the parties hereto, but nothing contained herein shall be construed so as to allow the Tenant to transfer or assign this lease in violation of any term here of.

  • Payment of Leasehold Obligations Each Borrower shall at all times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request will provide evidence of having done so.

  • 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:

  • Existing Leases Notwithstanding the provisions of Section 4.1 above, Seller has disclosed to Buyer the existence of the following two leases with third party tenants for space in Building A: (a) a lease to the Orange County Bar Association ("OCBA") for 7425 square feet of space on the first floor of Building A for a term that expires on November 30, 2007, with no option to extend (the "OCBA Lease"), and (b) a lease to Xxxxxxx & Associates for 1420 square feet of space on the 4th floor of Building A for a term that expires on May 31, 2006, with no option to extend (the "AA Lease"). The OCBA Lease and the AA Lease are referred to as the "Existing Leases" and the tenants thereunder are referred to as the "Existing Tenants." Prior to the Due Diligence Expiration Date, Seller shall deliver to Buyer a true and complete copy of each of the Existing Leases. As of the Closing and at Seller’s option, either (i) Seller shall have caused the Existing Leases to be terminated and the Existing Tenants to vacate Building A, or (ii) Seller shall remain as the lessor to the Existing Leases as a direct lease between Seller and the Existing Tenants and as a sublease to the Lease for Building A , or (iii) Buyer shall assume the Seller’s interest in the Existing Leases as a direct lease between Buyer and the Existing Tenants. If clause (ii) above is applicable to an Existing Lease, then such Existing Lease shall be considered as a sublease between Seller and the Existing Tenant, and except as provided below, Seller shall be solely responsible for the Existing Lease as a sublease under the Seller Lease for Building A and Buyer shall have no obligations or liabilities in connection with the Existing

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