Lease. The Property is being sold subject to an existing Lease of the Property dated September 21, 2006 by and between Seller, as lessor (pursuant to that certain Assignment and Assumption of Lease and Guaranty dated December 29, 2006 by and between AEI Fund Management XVII, Inc., a Minnesota corporation, as assignor, and Seller, as assignee), and Apple Indiana II LLC, a Delaware limited liability company, as lessee (the "Tenant") and Guaranty by Apple American Group LLC dated September 21, 2006, as amended by that certain Amendment to Lease and Guaranty dated December 23, 2013 (collectively, the "Lease"). The Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, all right, title, and interest of Seller in and to all leases and other agreements to occupy all or any portion of the Property that are in effect on the Effective Date or which Seller executed prior to Closing (as hereinafter defined) pursuant to the terms of this Agreement.
New Lease; Lease Amendment. If Tenant leases the Station 5 Premises pursuant to this Paragraph 42, Landlord shall prepare, and Landlord and Tenant shall execute within thirty (30) days after Tenants delivery of the Expansion Exercise Notice, # a new lease demising the Station 5 Premises on the same terms and conditions of this Lease as modified pursuant to Paragraph 42.3 (for purposes of this Paragraph 42, the Station 5 Lease).
Ground Lease. The Borrower will promptly notify the Agent in writing of any default by a Fee Owner in the performance or observance of any of the terms, covenants and conditions on the part of a Fee Owner to be performed or observed under a Ground Lease. The Borrower will promptly deliver to the Agent copies of all material notices, certificates, requests, demands and other instruments received from or given by a Fee Owner to Borrower or a Subsidiary Guarantor under a Ground Lease.
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the " XE "Lease Term" Lease Term") shall be as set forth in [Section 3.1] of the Summary, shall commence on the date set forth in [Section 3.2] of the Summary (the " XE "Lease Commencement Date" Lease Commencement Date"), and shall terminate on the date set forth in [Section 3.3] of the Summary (the " XE "Lease Expiration Date" Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. For purposes of this Lease, the term " XE "Lease Year" Lease Year" shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in [Exhibit C], attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute (or provide factual corrections thereto) and return to Landlord within ten (10) days of receipt thereof.
Net Lease. This shall be a triple net Lease and Base Rent shall be paid to Landlord absolutely net of all costs and expenses, except as specifically provided to the contrary in this Lease. The provisions for payment of Operating Expenses and the Operating Expense Adjustment are intended to pass on to Tenant and reimburse Landlord for all costs and expenses of the nature described in Paragraph 7.1 incurred in connection with the ownership, management, maintenance, repair, preservation, replacement and operation of the Project and its supporting facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be necessary or desirable to the Project.
Lease Provisions. The term Premises shall include the Roof Top Area for all purposes of this Lease (other than the payment of Base Rent and the calculation of percentages and figures based upon the rentable area of the Premises, including Tenants Proportionate Share). Without limiting the generality of the foregoing, Tenant shall cause the insurance required pursuant to Paragraph 8 to cover its use of the Roof Top Area, Tenants use, installation, repair and maintenance of the Roof Top Area shall be in compliance with Paragraph 4.3, and Tenant agrees that the indemnification contained in Paragraph 8 shall apply to the use, installation, repair and maintenance of the Roof Top Area. Tenant assumes all liability and risk related to its use of the Roof Top Area and damage to the Roof Top Area or personal property thereon from any cause whatsoever, including, but not limited to, theft, vandalism or damage by the elements.
Omniox Lease. As of the Expansion Premises Commencement Date, the 4th full paragraph of Section 2 of the Lease is hereby deleted in its entirety and replaced with the following:
New Lease. If timely exercises ’s Right to First Offer as set forth herein, then, and shall promptly thereafter execute a new lease on substantially the same terms and conditions of this Lease, the First Offer Notice and this Section 1.3, and the terms of the Declaration which are applicable to the First Offer Space (the
Triple Net Lease. Landlord and Tenant acknowledge that, except as otherwise provided to the contrary in this Lease, it is their intent and agreement that this Lease be a " XE "TRIPLE NET" TRIPLE net" lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant's operation therefrom all as more fully set forth below. To the extent such costs and expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as Additional Rent all as more fully set forth below.
Modification of Lease. Should any current or prospective mortgagee or ground lessor for the Building or Project require a modification of this Lease, which modification will not cause an increased cost or expense to Tenant or in any other way change the rights and obligations of Tenant hereunder, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute whatever commercially reasonable documents are reasonably required therefor and to deliver the same to Landlord within ten (10) business days following a request therefor. At the request of Landlord or any mortgagee or ground lessor, Tenant agrees to execute a short form of Lease and deliver the same to Landlord within ten (10) business days following the request therefor.
Right to Lease. Landlord reserves the absolute right to effect such other tenancies in the Project as Landlord in the exercise of its sole business judgment shall determine to best promote the interests of the Building
Submission of Lease. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of, option for or option to lease, and it is not effective as a lease or otherwise until execution and delivery by both Landlord and Tenant.
Lease Provisions; Conflict. The terms and provisions of the Lease, insofar as they are applicable, in whole or in part, to this Agreement, are hereby incorporated herein by reference. In the event of any conflict between the terms of the Lease and this Agreement, the terms of this Agreement shall prevail; provided, however, that nothing contained in this Agreement shall be deemed to modify in any manner the provisions of Article 2 of the Lease. Any amounts payable by Tenant to Landlord hereunder shall be deemed to be Additional Rent under the Lease and, upon any default in the payment of same, Landlord shall have all rights and remedies available to it as provided for in the Lease.
Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. The portions of the Project which are for the non-exclusive use of tenants of the Project, are collectively referred to herein as the Common Areas. Tenant shall have the non-exclusive right to use the Common Areas in common with the other tenants in the Project. Landlord reserves the right to modify Common Areas, provided that such modifications do not materially adversely affect Tenants use of the Premises for the Permitted Use and provided such modifications do not materially increase the obligations or materially decrease the rights of Tenant under this Lease.
The Landlord shall pay the rents reserved by the Superior Lease.
This Lease shall take effect upon the Execution Date and, except as specifically otherwise provided within this Lease, each of the provisions hereof shall be binding upon and inure to the benefit of Landlord and Tenant from the date of execution and delivery hereof by all parties hereto. The parties acknowledge and agree that the Premises shall be delivered to Tenant for the commencement and performance of the Tenant’s Improvements upon at least ten (10) business days written notice from Tenant to Landlord requesting delivery of the Premises (such date of delivery shall be referred to as the “Delivery Date”); provided, that Tenant shall not be liable for the cost of utilities supplied to the Premises prior to the Delivery Date.
Notice. Each Party will notify the other Party in writing in the event it becomes aware of a claim for which indemnification may be sought hereunder. In the event that any Third Party asserts a claim or other proceeding (including any governmental investigation) with respect to any matter for which a Party (the “Indemnified Party”) is entitled to indemnification hereunder (a “Third Party Claim”), then the Indemnified Party shall promptly notify the Party obligated to indemnify the Indemnified Party (the “Indemnifying Party”) thereof; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then only to the extent that) the Indemnifying Party is prejudiced thereby.
Notice. Except as otherwise specified herein, all notices and other communications under this Award shall be in writing and shall be deemed to have been given if personally delivered or if sent by registered or certified United States mail, return receipt requested, postage prepaid, addressed to the proposed recipient at the last known address of the recipient. Any party may designate any other address to which notices shall be sent by giving notice of the address to the other parties in the same manner as provided herein.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.