Example ContractsClausesTriple Net Lease
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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.

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.

Landlord and Tenant entered into that certain Triple Net Lease, dated as of (the “Lease”), whereby Tenant currently leases levels 1, 2, 3 and 4 of the Power Plant Building of the Project known as the Seaholm Project located in Austin, Texas (the “Project”).

Initial "triple net charge per year

Initial triple net charge budget per month estimated at $ per foot

This Lease shall be treated as a triple net lease in which the Tenant shall be responsible for all expenses of the leased facilities, whatever they may be, and shall promptly pay for any and all expenses incurred during the Term. Tenant shall pay to Landlord in lawful money of the United States, at the beginning of the Lease Term, in one payment of in advance of the first

Lease. The Property is being sold subject to an existing Lease of the Property dated by and between Seller, as lessor (pursuant to that certain Assignment and Assumption of Lease and Guaranty dated 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 , as amended by that certain Amendment to Lease and Guaranty dated (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 Tenant’s 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”).

Status of Lease. The Lease, as amended by this Amendment, is in full force and effect and is binding upon and enforceable by Landlord and Tenant in accordance with its terms. In the event of a conflict between the terms and conditions of the Lease and the terms and conditions in this Amendment, the terms and conditions of this Amendment shall control. This Amendment shall become effective only after the full execution and delivery hereof by Landlord and Tenant.

Upon Lease Issuance. Upon the State of Idaho issuing Leases to ALY for all acreage subject to the Lease Application, ALY shall deliver to IIM, Three Hundred Fifty Thousand (350,000) common shares of ALY. In the event that the State issues Leases on less than all of the Lease Applications, then the number of shares issued shall be proportionate to the percent of the acreage converted to Lease relative to the amount of acres covered by the Lease Applications; the remaining shares of this 350,000 shall be paid upon the occurrence of Paragraph 2.1.5 below, as additional shares to the 400,000 shares already provided for in Paragraph 2.1.5. In the event that ALY, in its sole discretion, voluntarily agrees to accept Leases from the State for less than all of the acreage subject to the Lease Applications, then ALY shall either pay the additional shares to IIM pursuant to this Paragraph 2.1.3 or ALY shall reassign such Lease Applications per Paragraph 3.4 below.

Memorandum of Lease. Upon the request of either party, Landlord and Tenant shall mutually execute and deliver a notice, memorandum or short form of this Lease in recordable form and either party may record such instrument in the applicable registry of deeds. The cost of such recording shall be borne by the party requesting the same.

Lease of Locations. At the Closing Purchaser shall enter into a lease with West Boynton Auto Services, Inc. for the Hagen Ranch location and with Reitano Enterprises, Inc. for the Jupiter Farms location, at a base rent respectively of and ​.

Amended Lease Payment. In [Section 9.06], , second paragraph, the parties agree that the second sentence shall be deleted and the following shall be inserted in lieu thereof:

BROADSTONE NET LEASE, INC.

Net Equivalent Lease Rate.............................................................................................. [Exhibit G]

Additional Rent On the Commencement Date and on the first of each month thereafter Subtenant shall pay its pro-rata share of the estimated Additional Rent charged to Sublandlord by Master Landlord pursuant to [Section 6.2] of the Master Lease and those costs charged to Sublandlord by Master Landlord pursuant to Master Lease (collectively “Expenses”) via wire or via cashier’s check. The Sublease will be a triple-net (NNN) lease and the Subtenant will pay its Proportional Share of Expenses (including real property taxes, insurance, and maintenance) as paid by the Sublandlord and outlined by the Master Lease, without exclusion, as set forth in [Exhibit D], Estimated Operating Expenses provided by Master Landlord. Subtenant shall also pay its Proportional Share of any third-party lobby staffing (not to exceed two (2) staff members), janitorial, and security access expenses incurred by Subtenant in the operation of the Building (“Additional Expenses”), as estimated and further set forth in [Exhibit D]. Within thirty (30) days of Sublandlord providing notice to Subtenant of the Subtenant’s pro-rata share of Expenses or other payments which are due under this Sublease, Subtenant shall pay such amounts. Subtenant remains responsible for paying all other amounts due under this Sublease.

Notwithstanding any other provision of this Agreement to the contrary, including the definitions of “Total Net Leverage Ratio”, “Secured Net Leverage Ratio”, “Consolidated EBITDA”, “Capitalized Lease” and “Indebtedness”, for purposes of this Agreement and the other Loan Documents, any lease by the Borrower or any of its Restricted Subsidiaries in respect of real property shall be treated as an operating lease and not as a Capitalized Lease.

BRPA Net Tangible Assets. BRPA shall have at least of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act) remaining after the Offer.

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