Ground Lease Provisions Sample Clauses
Ground Lease Provisions are contractual terms that govern the leasing of land, typically where the tenant is permitted to develop or use the land while the ownership remains with the landlord. These provisions outline key aspects such as the duration of the lease, rent payments, responsibilities for property taxes, insurance, and maintenance, as well as rights regarding improvements or alterations to the land. By clearly defining the rights and obligations of both parties, Ground Lease Provisions help prevent disputes and ensure that both landlord and tenant understand their respective roles and expectations throughout the lease term.
Ground Lease Provisions. (a) The Ground Lease is in full force and effect has not been amended and represents the entire agreement between Borrower and Ground Lessor and there are no defaults, events of default or events which with the passage of time or the giving of notice, would constitute a default or event of default under the Ground Lease.
(b) Borrower will pay the Ground Rent as and when required under the Ground Lease and will perform all of Borrower’s obligations as ground lessee under the Ground Lease as and when required under the Ground Lease.
(c) Borrower will cause Ground Lessor to pay and perform all of Ground Lessor’s obligations under the Ground Lease as and when required under the Ground Lease, will not give any approval required or permitted under the Ground Lease without Lender’s prior approval and will not exercise any options under the Ground Lease without Lender’s prior approval.
(d) Borrower will not amend or waive any provisions of the Ground Lease; cancel or surrender the Ground Lease; or release or discharge Ground Lessor from any of the terms or obligations of the Ground Lease, without in each instance Lender’s prior approval which may be withheld in its sole discretion.
(e) Borrower promptly will deliver to Lender copies of any notices of default or of termination that Borrower receives or delivers relating to the Ground Lease.
(f) Without limiting Lender’s independent rights and remedies under Section 365(h) of the Bankruptcy Code:
(i) Borrower will not elect to treat the Ground Lease as terminated under Subsection 365(h) (1) of the Bankruptcy Code without Lender’s prior consent to be exercised in its sole discretion, any such election made without Lender’s prior consent is null and void;
(ii) Without in any manner limiting the provisions of subparagraph (i) of this Section, the lien of this Deed of Trust will attach to all of Borrower’s rights and remedies at any time arising under or pursuant to Subsection 365(h) of the Bankruptcy Code, including all of Borrower’s rights to remain in possession of the Property and Lender may assert, or direct Borrower to assert, any of such rights and remedies.
(iii) If, pursuant to Subsection 365(h) of the Bankruptcy Code, Borrower seeks to offset against Ground Rent the amount of any damages caused by Ground Lessor’s failure to perform any of its obligations under the Ground Lease after the Ground Lessor rejects the Ground Lease under the Bankruptcy Code, Borrower will, prior to effecting such offset, notify Lende...
Ground Lease Provisions. Notwithstanding any other provision of this Agreement or any other Loan Document to the contrary, Borrower hereby warrants, covenants, represents and agrees as to the Ground Lease as follows:
Ground Lease Provisions. The Ground Lease is in full force and effect has not been amended and represents the entire agreement between Borrower and Ground Lessor and there are no defaults, events of default or events which with the passage of time or the giving of notice, would constitute a default or event of default under the Ground Lease.
Ground Lease Provisions. Lessee understands and acknowledges that its obligations hereunder shall at all times remain in full force and effect and shall in no way be affected by (i) the renewal of the Ground Lease, (ii) the termination of the Ground Lease prior to the expiration hereof or (iii) the purchase of the fee simple title to the Land by Lessor.
Ground Lease Provisions. (a) Borrower will: (i) pay the rent reserved by the Ground Lease as the same becomes due and payable; (ii) promptly perform and observe all of the covenants, agreements, obligations and conditions required to be performed and observed by the Borrower under the Ground Lease, and do all things necessary to preserve and keep unimpaired its rights thereunder; (iii) promptly notify Lender in writing of the commencement of a proceeding under the federal bankruptcy laws by or against Borrower or the Fee Owner under the Ground Lease; (iv) if any of the indebtedness secured hereby remains unpaid at the time when notice may be given by the Lender under the Ground Lease of the exercise of any right to renew or extend the term of the Ground Lease, promptly give notice to the ground lessor of the exercise of such right of extension or renewal; (v) in case any proceeds of insurance upon the Property or any part thereof are deposited with any person other than Lender, promptly notify Lender in writing of the name and address of the person with whom such proceeds have been deposited and the amount so deposited; (vi) promptly notify the Lender in writing of the receipt by the Borrower of any notice (other than notices customarily sent on a regular periodic basis) from the ground lessor under the Ground Lease and of any notice noting or claiming any default by the Borrower in the performance or observance of any of the terms, covenants, or conditions on the part of the Borrower to be performed or observed under the Ground Lease;
Ground Lease Provisions. A copy of the ground lease (if any) must be provided; it should be an exhibit to the lease. It may be redacted to delete the amount of the rent or other confidential irrelevant information. The lease should provide that the lessor agrees to exercise all rights to renew the term of the ground lease for the duration of the lease term as may be renewed. RF Interference: The lease must provide that the lessor will cause any third party to eliminate any RF interference that its (subsequently commenced) use causes to TerreStar’s (previously commenced) use. TerreStar will agree not to cause RF interference with previously commenced uses at the subject site that are FCC licensed, and to cure any RF interference within seventy-two (72) hours of notice thereof, but will not agree not to interfere with any prior or subsequent uses that are not FCC licensed. Payment Method: By check or electronic transmittal payable to lessor on a monthly basis. Proprietary & Confidential 16 (43) ▇▇▇▇▇▇▇ Communications & TerreStar Networks Exhibit C Attachment 5 Leasing Guidelines RF Exposure: TerreStar will cooperate with the licensor and other site users to address non-compliance with FCC RF exposure limits.
Ground Lease Provisions. 28 Exhibit A-1 - Description of Fee-Owned Land Exhibit A-2 - Description of Leasehold Land Exhibit B - Personal Property Collateral FEE AND LEASEHOLD DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT, AND FIXTURE FILING THIS FEE AND LEASEHOLD DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this "Deed of Trust") is made as of the 3rd day of June 2008 by ▇▇▇▇▇▇ HILLS MALL, LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware and having an office at c/o Glimcher Realty Trust, ▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ("Grantor"), to COMMONWEALTH LAND TITLE COMPANY having an office at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇,▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ("Trustee"), for the benefit of EUROHYPO AG, NEW YORK BRANCH, having an office at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, as Administrative Agent for the lenders referred to below (in such capacity, together with its successors in such capacity, "Beneficiary").
Ground Lease Provisions. Trustor covenants and agrees as follows: (a) Trustor represents and warrants to Beneficiary and Trustee that: (i) the Ground Lease has not been amended, modified, supplemented or assigned; and (ii) no defaults by the lessee under the Ground Lease or Ground Lessor of any obligations under the Ground Lease have occurred, and the Ground Lease is in full force and effect. Trustor agrees that it will not amend, modify, supplement or assign or sublet its rights, title or interest in the Ground Lease, or take any actions to enforce, or give any notice, approval or consent to exercise, waive or modify any rights under or in respect to the Ground Lease without Beneficiary's prior written consent.
Ground Lease Provisions. 62.01 Tenant acknowledges that Landlord is not a fee owner of the land but the holder of the Ground Lease (as defined in Exhibit E). Landlord represents that the Ground Lease is presently in full force and effect and no consent is required from the Ground Lessor (as defined in Exhibit E) in connection with the making of this Lease.
62.02 In the event that Tenant shall send Landlord a notice of any default on the part of Landlord, under this Lease, Tenant shall send a copy thereof to Ground Lessor at the address listed in Section 62.04 or such other address as tenant shall have been notified in writing. Tenant agrees that Ground Lessor shall have the right, but not the obligation to cure any such default within:
(a) Ten (10) days from the date of such notice in the event such default shall consist of a failure to pay a sum of money; or (b) Thirty (30) days from the date of such notice to cure any other default which is susceptible of being cured with due diligence within said 30 days; or
Ground Lease Provisions. The terms and conditions contained in Exhibit B attached hereto are hereby made a part hereof.