LEASE CONDITION Sample Clauses
A Lease Condition clause sets out specific requirements or events that must be satisfied before the lease agreement becomes fully effective or binding. Typically, these conditions might include obtaining necessary permits, completing property inspections, or securing financing. The clause ensures that both parties are protected by making the lease contingent on certain prerequisites, thereby reducing the risk of entering into an agreement under unfavorable or incomplete circumstances.
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LEASE CONDITION. This Lease is expressly conditioned upon Lessor receiving the consent and approval of Lessor's mortgagee to its term and provisions not later than thirty (30) days after its execution by Lessee, and delivery to Lessor. Should said consent not be received within the aforesaid time period, Lessor may, at Lessor's sole option, cancel this Lease and return the first month's Fixed Basic Rent and Security Deposit to Lessee, which Lessee has deposited with Lessor upon execution of this Lease, and thereafter the parties shall have no further obligations to each other with respect to this Lease.
LEASE CONDITION. This Lease is expressly conditioned upon Landlord receiving the consent and approval of Landlord's mortgagee to its terms and provisions not later than thirty (30) days after its execution and delivery by both parties. Should said consent not be received within the aforesaid time period, Landlord may, at Landlord's sole option, cancel this Lease and return the first month's Basic Rent and Security Deposit to Tenant, which Tenant has deposited with Landlord upon execution of this Lease, and thereafter the parties shall have no further obligations to each other with respect to this Lease.
LEASE CONDITION. 25 48. MORTGAGEE'S NOTICE AND OPPORTUNITY TO CURE:..........................25 49. LESSOR'S RESERVED RIGHT:.............................................26 50.
LEASE CONDITION. Seller shall have received the following: (i) the Lease, duly executed by Buyer as landlord thereunder.
LEASE CONDITION. Is Property sold subject to any existing lease/rental agreements? Yes No _____________________
LEASE CONDITION. As of the respective Closing Date for any Property Entity, (1) Seller and Purchaser shall have executed the Subject Lease with respect to the respective Property, (2) the Subject Lease with respect to the respective Property shall be in full force and effect, (3) Seller shall be the sole tenant with respect to the respective Property, and (4) Purchaser shall have received assurances acceptable to Purchaser in its sole and absolute discretion that on the consummation of the respective Closing, all of the leases affecting any portion of the respective Property, other than the Subject Lease, including each of the Existing Leases with respect to the respective Property, shall have been terminated and each party under any such lease to which such Property Entity is a party shall have released such Property Entity from all obligations and liabilities under such lease;
LEASE CONDITION. As of the Building F Closing Date, (1) Seller shall be the sole tenant with respect to the Building F Property (other than (i) the Existing Building F Subtenant, (ii) any other subtenant under a sublease in which Seller is the sublandlord or (iii) if applicable, the Building F Owner in connection with any temporary occupancy of Building F as a subtenant of Seller after the Building F Closing), and (2) Purchaser shall have received assurances acceptable to Purchaser in its reasonable discretion that on the consummation of the Building F Closing, the Existing Building F Lease shall have been terminated or expired.
LEASE CONDITION. Intentionally omitted.
LEASE CONDITION. (a) This Lease is expressly conditioned upon Landlord receiving the consent and approval of Landlord's mortgagee to its terms and provisions and executing the subordination, non-disturbance and attornment agreements in favor of Tenant as set forth in Paragraph 15 of this Lease, not later than thirty (30) days after its execution and delivery by both parties.
(b) This lease is further conditioned upon the Tenant receiving approval from the New Jersey Economic Development Authority on its pending application for financial assistance on or before July 15, 1997. In the event said approval is not forthcoming, this lease shall be rendered null and void and shall have no further effect, except that the Landlord shall be entitled to retain the full amount of the Security Deposit heretofore tendered by the Tenant.