CONTRACT OF LEASE Sample Clauses

A Contract of Lease is a legal agreement in which one party (the lessor) grants another party (the lessee) the right to use and occupy a property for a specified period in exchange for payment, typically called rent. This clause outlines the essential terms such as the description of the leased property, the duration of the lease, the amount and schedule of rent payments, and the responsibilities of both parties regarding maintenance and use. Its core practical function is to clearly define the rights and obligations of both the property owner and the tenant, thereby preventing disputes and ensuring both parties understand their commitments during the lease term.
CONTRACT OF LEASE. 1.1 The Hirer hereby rents to User, which hires on the terms and conditions herein and overleaf from the Commencement date specified in the schedule/s, the goods described therein for the rental payable for the Rental period stated therein, subject to the provisions of 3. 1. The terms and conditions of this agreement shall equally apply in every respect to each and every schedule which the parties may enter into and the goods described in any such schedule and rented in accordance with the terms of this agreement as if the terms and conditions of this agreement were incorporated in such schedule and the conclusion by the parties of a further schedule shall create a separate agreement in respect of the goods described in such schedule. The User agrees that should any separate agreement created in terms hereof be terminated by the Hirer in terms hereof or by effluxion of time or from any cause howsoever arising, such termination shall not affect the obligations of the User to the Hirer in respect of any other separate agreement created in terms hereof and shall remain in force in respect of any other separate agreement created hereby. 1.2 If, at the time of the signing of this contract, such equipment will constitute the Goods, being the subject matter of this contract. If the Goods are to be delivered after the signing hereof, the Hirer shall be entitled to select the specific equipment (conforming to the description of the Goods as specified in the Definition Schedule) out of its stock and deliver same to the User, thereby identifying the equipment that will constitute the Goods. 1.3 If, for any reason whatsoever after the delivery of the Goods, the parties agree to substitute the Goods with another item, such substituted goods will, from the date of delivery thereof, constitute the Goods. The non-variation provisions of clause 20 hereof will not apply to the conclusion of such oral agreement but will only be deemed to have been entered into when the substituted Goods are in fact delivered to the User and this contract will thereafter be deemed to have been amended only in respect of the subject matter of this contract.
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CONTRACT OF LEASE. This Supplement to Contract of Lease shall be covered by and be subject to all the terms and conditions contained in the Contract of Lease dated 27 March 1996 referred to above except as herein below provided.
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CONTRACT OF LEASE between ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Realty Corporation and Automated Microelectronics, Inc., dated May 6, 1994.(1)....................................................
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CONTRACT OF LEASE. This Contract of Lease made and entered into by and between: [NAME OF LESSOR], a corporation registered under the laws of the Republic of Philippines, with office address at[COMPLETE ADDRESS] represented herein by its President [OR OTHER DESIGNATION], [NAME OF REPRESENTATIVE OR SIGNATORY], hereinafter referred to as the “LESSOR’);
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CONTRACT OF LEASE. A of the Contract is deleted and replaced with the following:
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CONTRACT OF LEASE. This Contract of Lease, made and entered into this 27th day of March, 1996 at the City of Manila, Philippines, by and between: STANCREST REALTY CORPORATION, a corporation duly organized. and existing under and virtue of the laws of the Philippines, with offices at Km. ▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, represented herein by its President, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, hereinafter referred to as "LESSOR"; AUTOMATED TECHNOLOGY (PHIL.) INC., a corporation duly organized and existing under and by virtue of the laws of the Philippines, with office address at Light Industry & Science Park of the Philippines, Cabuyao; Laguna, represented herein by its Vice President & General Manager, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, hereinafter referred to as the "LESSEE";
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CONTRACT OF LEASE. On or before January 15, 2005, ALI and PEOPLESUPPORT shall execute the Contract of Lease which shall include the following terms: (a) The Lease Term shall be for a period of ten (10) years, commencing on August 1, 2005, and ending on July 31, 2015, unless otherwise extended by the Parties in accordance with the principles and terms set forth in this MOA. (b) PEOPLESUPPORT shall lease the Office Space, consisting of 15,102.50 square meters of leasable office space in the Building, broken down as follows at the following monthly rental rates for the first year of the Lease Term: Monthly lease rate Location Area per square meter ------------------------------------------------------------------------------- Ground Floor 1,157.00 square meters [Php] 550.00 Third Floor 4,648.50 square meters [Php] 400.00 Fourth Floor 4,648.50 square meters [Php] 400.00 Fifth Floor 4,648.50 square meters [Php] 400.00 In consideration of its lease of the Office Space, PEOPLESUPPORT shall pay a total monthly rental of [Php]6,214,550.00 for the period from the Lease Commencement up to the day prior to the first anniversary of the Lease Commencement Date. The rent shall be liquidated and paid in the manner provided in the Contract of Lease. (c) The rental rate for the succeeding four (4) years shall be increased at the following rates per annum over the then-prevailing monthly rental rate: Period Covered Rate Increase ------------------------------------------------------------------------------------- From To ------------------------------------------------------------------------------------- Year 2 First anniversary of the Day prior to second 5% Lease Commencement Date anniversary of the Lease Commencement Date Year 3 Second anniversary of the Day prior to third 5% Lease Commencement Date anniversary of the Lease Commencement Date Year 4 Third anniversary of the Day prior to fourth 9% Lease Commencement Date anniversary of the Lease Commencement Date Year 5 Fourth anniversary of the Day prior to fifth 9% Lease Commencement Date anniversary of the Lease Commencement Date The monthly rent due for the year commencing on the fifth anniversary of the Lease Commencement Date up to the day prior to the sixth anniversary of the Lease Commencement Date shall be computed as follows: (i) in the event that the then prevailing monthly market rental rate (computed per square meter) of office units at the Makati Stock Exchange Building is higher than the then prevailing monthly rental rate (com...
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Related to CONTRACT OF LEASE

  • GRANT OF LEASE Landlord does hereby lease unto Tenant, and ▇▇▇▇▇▇ does hereby rent from Landlord, solely for use as a personal residence, excluding all other uses, the personal residence located in USA, GA, with address of: ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇, #▇, ▇▇▇▇▇▇▇▇, ▇▇, ▇▇▇ It is agreed and understood that all covenants of this lease shall succeed to and be binding upon the respective heirs, executors, administrators, successors and, except as provided herein, assigns of the parties hereto, but nothing contained herein shall be construed so as to allow the Tenant to transfer or assign this lease in violation of any term here of.

  • Assignment of Lease The Tenant may not assign the Lease or sublet all or any part of the Premises or otherwise grant possession of the Premises or any portion thereof to any other person without first obtaining the prior written consent of the Landlord, such consent not to be unreasonably withheld. In no event shall the Tenant be released or discharged from the full performance of this Lease and the payment of all rents and monies and the observance of all covenants, agreements, terms and conditions herein contained and any such consent granted by the Landlord shall not be deemed or implied as consent to any further or subsequent assignment or subletting. In the event this Lease is assigned or all or a portion of the Premises sublet, the Tenant shall pay all reasonable out-of-pocket expenses incurred by the Landlord in any such assignment or subletting, including the Landlord’s legal costs in connection therewith and a non-refundable amount of Five Hundred Dollars ($500.00) in advance to the Landlord, representing a reasonable cost to the Landlord for reviewing such application. Any transferee shall enter into an agreement directly with the Landlord covenanting to be bound by all of the Tenant’s obligations hereunder to the extent applicable to it. Notwithstanding the foregoing provisions of this Section 10.01 or anything else contained herein, so long as Tenant is not then in default under this Lease beyond any applicable curative period provided for in this Lease, Tenant shall have the right, without the consent of Landlord, but otherwise in accordance with the requirements of this Lease, including without limitation, the obligation of any transferee to enter into an agreement directly with the Landlord covenanting to be bound by all of the Tenant’s obligations hereunder to the extent applicable, to assign this Lease and/or sublease the whole or part of the Premises to:

  • Amendment of Lease This lease may be amended only by an instrument in writing signed by Landlord and Tenant.

  • Assignment of Leases The Assignment of Leases creates a valid assignment of, or a valid security interest in, certain rights under the Leases, subject only to a license granted to Borrower to exercise certain rights and to perform certain obligations of the lessor under the Leases, including the right to operate the Property. No Person other than Lender has any interest in or assignment of the Leases or any portion of the Rents due and payable or to become due and payable thereunder.

  • Use of Leased Property ▇▇▇▇▇▇ agrees to use the Leased Property only as residence. ▇▇▇▇▇▇ agrees to obey all federal, state and local laws and regulations when using the Leased Property. ▇▇▇▇▇▇ agrees not to store any flammable or dangerous things in or around the Leased Property. ▇▇▇▇▇▇ agrees not to do anything in or around the Leased Property, which could harm anyone or damage any property. ▇▇▇▇▇▇ agrees that Tenant will not allow more than one person per bedroom to live in the Leased Property without the written permission of Landlord. The fact that Tenant may have conflict with a roommate will not act as grounds to terminate this Lease. In the event that ▇▇▇▇▇▇ is arrested for or charged with any crime (other than a traffic related offense not involving illegal or controlled substances) during the term of the Lease, and/or Landlord is presented with evidence of activities of Tenant which shall constitute a nuisance or a threat to Landlord, other tenants, the Leased Property or the development, Landlord shall have the right to evict Tenant from the Leased Property.