Prime Lease means the lease(s), sublease(s), or other similar prior agreement(s) from which Licensor’s rights in any portion of the Site are derived, and which may contain restrictions on use of the Site.
Prime Lease shall have the meaning set forth in Section 3.14(b).
Prime Lease means that certain Lease Agreement dated as of the date hereof between the Mortgage Borrower, as lessor, and SHR Scottsdale Operating Lessee I, L.L.C. and SHR Scottsdale Operating Lessee II, L.L.C., as co-lessees.
Examples of Prime Lease in a sentence
A redacted copy of the Prime Lease or Deed is attached as Exhibit D hereto.
Licensor and Licensee acknowledge that Licensee’s use of the Site is subject and subordinate to the Prime Lease or Deed.
Licensee agrees to be bound by and to perform all of the duties and responsibilities required of the lessee, sublessee, licensee or grantee as set forth in the Prime Lease or Deed to the extent they are applicable to Licensee’s access to and use of the Site.
Notwithstanding the foregoing, if a Prime Lease applies to the Site, and the term of the Prime Lease expires or terminates sooner than the expiration or termination of this Agreement, and Licensor has not assigned (and is not obligated to assign) its rights hereunder to Landlord, then the Term of this Agreement shall continue and remain in effect only as long as Licensor retains its interest under the Prime Lease.
If a Prime Lease applies to the Site and the Prime Lease terminates for any reason, this Agreement shall terminate effective as of the termination of the Prime Lease.
More Definitions of Prime Lease
Prime Lease means the Amended and Restated Prime Lease dated as of September 20, 2019, between the Local Government, the School Board and VRA, as modified, altered, amended and supplemented in accordance with its terms and the terms of this Agreement.
Prime Lease has the meaning ascribed to such term in Section 1(g) of this Agreement.
Prime Lease. “Building”, “Premises”, “Subleased Premises”, “Term”, Base Rent”, and Sublessee’s proportionate share of “Additional Rent” shall apply to each Sublessor and Sublessee in accordance with the corresponding material terms set forth in Exhibit S applicable to such parties’ Subleased Premises.
Prime Lease means each of the leases described on Schedule 1; all such ---------- leases are collectively referred to as the "Prime Leases". The parties may, after the date hereof, designate any other lease as a Prime Lease subject to the terms of this Agreement, by replacing Schedule 1 with a new Schedule 1, which describes such other lease and ---------- ---------- which is initialed by both parties.
Prime Lease. That certain lease, dated as of November 16, 1995, between Xxxxxxx X. Xxxxxxxx, Xx., Xxxxx X. Xxxxxxxx, and Xxxxx X. Xxxxxx, Trustees of Xxxxxxx Realty Trust and Xxxxxxx Realty Corporation (the "Prime Lessor"), as lessor, and Sublessor, as lessee, as amended by a First Amendment to Lease dated October 30, 1997, a Second Amendment to Lease dated December 22, 1998 and a Third Amendment to Lease dated June 1, 1999; a copy of the Prime Lease is attached hereto as Exhibit B. Rent: Fixed Rent shall be $196,100 per annum (i.e., $16,341.67 per month) during the Term. Additionally, in order that the Fixed Rent payable to Sublessor hereunder shall be absolutely net to Sublessor, Sublessee shall pay as additional rent hereunder (a) Sublessee's Prorata Share of all amounts in the nature of pass throughs of operating expenses, taxes, insurance charges and charges for utility usage payable by Sublessor as tenant under the Prime Lease to the Prime Lessor in connection with operating expenses, taxes, insurance charges and utility charges attributable generally to the Building or the premises demised under the Prime Lease, including the Premises, and (b) any expenses, taxes, insurance charges, and utility charges that are incurred in connection with its providing of utilities, hazardous and biohazard waste removal and EHS support to the extent applicable to Sublessee and/or the Premises. Such additional rent shall exclude (a) costs attributable solely to the premises demised under the Prime Lease and not to the Premises demised hereunder, (b) costs payable by Sublessor as tenant under the Prime Lease in the nature of late penalties or interest, damages payable on account of tenant defaults, accelerated rents or charges except to the extent any such costs are incurred in connection with a default by Sublessee under this Sublease and (c) any costs for utilities or the like that are separately metered to the Premises and Sublessee pays directly to the utility company or service provider. Prorata Share: 15.4% (i.e., the rentable area of the Premises [5,300 sq. ft.] divided by the rentable area of the premises demised by the Prime Lease [i.e., 34,500 sq. ft.]), subject to adjustment if the rentable area of the Premises or the rentable area of the premises demised by the Prime Lease changes.
Prime Lease means the Prime Lease dated as of March 15, 2024, between the Local Government and VRA, as modified, altered, amended and supplemented in accordance with its terms and the terms of this Agreement.
Prime Lease means each of the leases set forth on Appendix A; all such leases are collectively referred to as the “Prime Leases.”