Lease Back. Seller uses the Property for its police station. Seller is constructing a new police station. Seller anticipates that its new police station will be completed prior to October 30, 2020. If Seller's new police station will not be completed by October 30, 2020, Seller shall have the right to lease the Property after closing for three separate thirty (30) day periods. Seller shall provide Buyer written notice of its exercise of its lease back right no later than October 23, 2020 with respect to the first 30- day period; no later than November 23, 2020, with respect to the second 30-day period; and no later than December 21, 2020 with respect to the third 30-day period. Such lease shall be made pursuant to the terms of Xxxxxxx Xxxx Form No. 1338 – Commercial Lease, Short Form. The monthly rent under the lease shall be $14,000. There shall be no security deposit. Seller shall use the leased premises for its police department. Seller as lessee shall maintain liability insurance of not less than $2,000,000.
Lease Back. Concurrently with the Closing and as a condition to Seller’s obligations hereunder, Seller shall lease from Buyer the marina and boat storage operations on terms and conditions set forth in the Lease Back Agreement attached hereto as Exhibit L (the “Lease Back Agreement”).
Lease Back. The Borrower will not enter into or permit any of its Subsidiaries to enter into any arrangements, directly or indirectly, with any Person, whereby the Borrower or such Subsidiary, as the case may be, shall sell or transfer any property, whether now owned or hereafter acquired, used or useful in the Business, and then rent or lease the property so sold or transferred for substantially the same purpose or purposes as the property so sold or transferred, provided that so long as section 3.4 (Mandatory Prepayments) is complied with this section 8.2.5 shall not prohibit any such transaction that qualifies under item (x) of the definition of Permitted Encumbrances.
Lease Back. With respect to each Property acquired by VMRE under the terms of this Agreement and any assets in connection therewith, VMRE shall lease (or sub-lease, as applicable) the Property to Carvana Lessee pursuant to an Operator Lease. 2.5
Lease Back. At Closing, Seller shall become a Tenant of the Property and lease the building back from Purchaser for a period of no less than three years from Closing. Expenses will be handled on a triple-net basis with tenant paying all expenses (including Taxes, Insurance, Operating Expenses and CAM). The base rent shall be as follows: Lease Year 1: $3.35 psf NNN Lease Year 2: $3.45 psf NNN Lease Year 3: $3.55 psf NNN If the foregoing is acceptable, please evidence consent by executing a copy of this letter and returning it to us within ten (10) calendar days. We look forward to working with you to successfully complete this transaction. ACCEPTED AND AGREED: XXXXXXX PROPERTIES (SELLER’S NAME) By: By: Name: Xxxxxxx X. Xxxxx Name: Its: Chief Investment Officer Its: Date: November 18, 2019 Date: By: Name: Xxxx X. Xxxx Its: Partner, Southeast Region Date: November 18, 2019 Exhibit A “the Property Information” Copies of all leases, any amendments, guaranties, Letters of Credit, letter agreements, assignments, and subleases relating thereto and all other agreements relating to occupancy of the Property. Copies of recent tenant financial statements. Copies of “as-built” plans and specifications for the Property including, but not limited to, civil drawings, electrical plans, plumbing plans, fire sprinkler plans, and structural plans. Most recent Seller’s issued policy of title insurance and a current title report issued by the Title Company, together with true, complete, and legible copies of all listed exceptions. Most recent existing survey of the Property. Detailed information concerning all capital refurbishments/improvements to the Property over the past three years. Copies of all warranty agreements in Seller’s possession or control covering all real or personal property to be conveyed. Copies of current property tax bills and assessor’s statements of current assessed values. Statement of insurance coverage by policy type, a list of all claims against such policies over the past three years, if applicable. Monthly operating statements for the past 12 months and annual statements for the past 3 years as well as the current budgets and capital improvement plan. Copies of all operating and management contracts, all leasing agreements and all service and maintenance agreements, and any amendments and letter agreements relating thereto. Copies of all leasing and brokerage agreements pursuant to which commissions remain owing or are anticipated to become owing after Closing...
Lease Back. RCTC hereby leases-back to the City and the City hereby leases from RCTC the Property, on the terms and conditions hereinafter set forth, and subject to all easements, encumbrances and restrictions that existed as of the Commencement Date. The leasing to the City from RCTC of the Property shall not effect or result in a merger of the City’s leasehold estate pursuant to this Lease Agreement with its fee estate as lessor hereunder, and RCTC shall continue to have and hold a leasehold estate in the Property pursuant to the terms hereof throughout the term hereof. As to the Property, this Section 2.02 shall be deemed and constitute a sublease.
Lease Back. A. Immediately upon XXX, Buyer shall lease back the Property to Seller for 3 years, with monthly rent of $ . Buyer shall be responsible for paying property taxes, and maintaining property insurance for the Property.
Lease Back. As a condition of the sale of the Property to the City, Seller may lease back the Property from the City as specified in this Addendum. The initial term shall be one year from the date of closing on the Property, or through December 31, 2020 (“Lease Back Term”) whichever is longer. If Seller exercises its right to enter into the Lease Back Term, then Seller shall: (i) provide written notice to the City by the end of the Buyer’s Contingency Period; and (ii) shall execute at Closing a lease that substantially contains the following terms, in addition to the City’s standard terms for leasing property (“Lease”).
Lease Back. At Closing, the parties shall execute a lease agreement for the City to lease from Manhattan Realty the Fire Station Property (the “Lease”) upon the following terms and conditions:
Lease Back. If the Foundation exercises the Option, the parties will execute a Lease Back Agreement simultaneously with the closing of the purchase of the NPS Building by the Foundation. The Lease Back Agreement will replace the Ground Lease, and will provide that the Foundation will lease the NPS Building and the underlying ground identified in the Ground Lease to NPS for a term of 10 years subject to the following terms and conditions:
