Demise of the Premises Clause Examples
The 'Demise of the Premises' clause formally transfers possession of a property from the landlord to the tenant for the duration of a lease. It typically specifies the exact space being leased, such as a particular office suite or apartment, and may outline any rights to use common areas or facilities. This clause is essential because it clearly defines what property is being leased and establishes the tenant’s right to occupy it, thereby preventing disputes over the scope of the tenant’s rights and the landlord’s obligations.
Demise of the Premises. A. Landlord hereby leases the Premises to Tenant, and Tenant hereby leases and takes the Premises from Landlord, only for the duration of the Term (defined in Section 2) and subject to the terms, conditions and covenants below, and subject to all matters of record or that are apparent by a survey or physical inspection of the Premises.
B. Landlord hereby grants to Tenant, only for the duration of the Term and subject to the terms, conditions and covenants below, a revocable, non‑transferable, non‑sublicensable, non‑exclusive license to use all Intellectual Property owned or licensed by Landlord as of the date hereof.
C. Upon the expiration or earlier termination of this Lease, (i) all the Ancillary Rights and Obligations, to the extent then still in force and effect, shall be assigned to and become the property and obligation of Landlord, and (ii) Landlord shall have the right, at its option, to purchase all Tenant Owned Tangible Personal Property, if any, for its then Fair Market Value.
D. This Lease is made and accepted subject to all indebtedness, liens, easements, rights, rights-of-way, conditions, covenants, mineral interests, royalties, reservations, restrictions and encumbrances of record in the real estate records of the county and state in which the Real Property is located and to all rights of tenants, licensees and concessionaires, in possession under unrecorded Use Agreements as of the date hereof, to the extent valid and enforceable against the Premises.
E. In consideration of the foregoing demise of the Premises, Tenant hereby grants Landlord an option to purchase all of any and all Tenant Owned Tangible Personal Property located at or used in connection with the Premises at the then Fair Market Value, to be exercised in connection with Landlord's exercise of remedies pursuant to Section 17, or upon the expiration or earlier termination of this Lease. Landlord and Tenant agree that said option shall be subordinate to all liens and rights of First Mortgagee (hereinafter defined) under the Loan Documents (hereinafter defined).
Demise of the Premises. Landlord leases to Tenant and Tenant leases from Landlord that certain parcel of real property (“Premises”) situated in the NE Quarter of Section 24, Township 15 North, Range 74 West, of the 6th P.M., in the County of Albany, State of Wyoming, and situated in that specific area described and depicted as follows:
Demise of the Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises for the Lease Term, upon the terms, conditions, covenants and agreements herein provided. Tenant's right to lease the Premises includes Tenant's right to use 52 parking spaces in the parking lot located upon the Property.
Demise of the Premises. Landlord hereby leases, demises and lets to Tenant, and Tenant hereby leases and takes from Landlord, that certain tract of land (the "LAND") located in ______________________, and more particularly described on Exhibit "A" attached hereto together with all buildings, improvements and fixtures located thereon (the "IMPROVEMENTS") and the non-exclusive use of all rights, easements, privileges and appurtenances thereto (said Land, Improvements and appurtenances being hereinafter referred to as the "PREMISES").
Demise of the Premises. For and in consideration of the rent and the mutual covenants and agreements herein contained, the Landlord hereby demises to the Tenant, and the Tenant hereby leases from the Landlord, the following premises (hereinafter called the "Premises") for the Term, (as defined herein) at the Rent, (as defined herein) and upon the terms and conditions hereinafter set forth: (street address, building name, floor on which the space is located, and unit/suite # of space) City State Zip (provide square footage of the leased space)
Demise of the Premises. Landlord hereby leases, demises and lets to Tenant, and Tenant hereby leases and takes from Landlord, those certain premises (hereinafter sometimes called the “Premises”) located on the first, third and fourth floors (being Suite 400) of the building known as Aspen Lake Office Building (the “Building”) which is located at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇ (▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇), Texas 78750 (hereinafter sometimes called the “Land”). The Land is more particularly described on EXHIBIT A attached hereto and made a part hereof for all purposes. A floor plan of the Premises is attached hereto and made a part hereof for all purposes as EXHIBIT B. The Building, the Land, all parking facilities owned or controlled by Landlord and servicing the Building and any such parking structures or parking lots constructed in the future on the Land (the “Parking Facilities”) and any Public Areas (as hereinafter defined) are hereinafter sometimes collectively called the “Project”.
Demise of the Premises. In consideration of the Rent (as hereinafter defined) and the covenants and agreements made herein, Landlord leases to Tenant and Tenant accepts and leases from Landlord the Premises (as hereinafter defined) as outlined on the plan attached hereto as Exhibit A located in the Building (as hereinafter defined), together with the nonexclusive right to use, in common with Landlord and others, the parking areas and the following portions of the Building: the entrance foyer and lobby; the corridors and lavatories on the floor on which the Premises are situated; and the stairways, elevators, shipping and receiving areas (all of the foregoing sometimes collectively referred to as the "Common Areas").
Demise of the Premises. Landlord hereby leases, demises and lets to Tenant, and Tenant hereby leases and takes from Landlord, those certain premises (hereinafter collectively sometimes called the "Premises") located on (i) the entire third (3rd) and fourth (4th) floors (the "
Demise of the Premises. Temporary Premises 1
Demise of the Premises. As of the Effective Date, Section 1.01 of the Lease is hereby amended by adding the following paragraph: “Landlord hereby leases, demises and lets to Tenant and Tenant hereby leases and takes from Landlord those certain additional premises (hereinafter sometimes called the “Fifth Amendment Expansion Premises”) located on the second floor of the Building (being Suite 200). A floor plan of the Fifth Amendment Expansion Premises is attached hereto and made a part hereof for all purposes as Exhibit BV. Upon the Fifth Expansion Commencement Date, any reference to the “Premises” in the Lease and in this Fifth Amendment shall incorporate the Fifth Amendment Expansion Premises, thereby including both the Current Premises and the Fifth Amendment Expansion Premises.”