Examples of Ground Lessee in a sentence
Subject to the provisions of Sections 6.08(c) and (d), Borrower will pay or cause to be paid (i) all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment, and (ii) if Borrower’s interest in the Mortgaged Property is as a Ground Lessee, then the monthly or other periodic installments of Ground Rent before the last date upon which each such installment may be made without penalty or interest charges being added.
Ground Lessee, Ground Lessor, and StadiumCo agree that fee title to the Premises and the leasehold and subleasehold estates created by the Ground Lease and the Stadium Lease, respectively, shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in any person by purchase, operation of law or otherwise.
Ground Lessor agrees to give StadiumCo a copy of all notices sent by Ground Lessor to Ground Lessee under the Ground Lease simultaneously with the transmission of such notices to Ground Lessee.
Each of Ground Lessor and Ground Lessee hereby waive the right to re-enter and relet the Premises and to terminate the Ground Lease, except as may be consented to by StadiumCo in writing.
Ground Lessor agrees not to exercise any right to terminate the Ground Lease due to any default by Ground Lessee thereunder until it has given written notice of such default to StadiumCo and a period of not less than sixty (60) days for remedying such default.