Lease of Real Property Clause Samples
The 'Lease of Real Property' clause establishes the agreement by which one party (the landlord) grants another party (the tenant) the right to use and occupy a specified property for a defined period in exchange for rent. This clause typically outlines key details such as the address of the property, the duration of the lease, permitted uses, and any restrictions or obligations of the tenant. Its core practical function is to clearly define the terms under which the property is leased, thereby protecting the interests of both parties and preventing disputes over occupancy rights and responsibilities.
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Lease of Real Property. Schedule 3.7 hereto is an accurate, complete, current, and complete list of each lease or sublease of Real Property to which either Seller is a party or by which either Seller may be bound and a description of the Real Property leased thereunder. With respect to each lease or sublease of a Seller described on Schedule 3.7 hereto: (i) the Seller has been in peaceful possession of the property leased thereunder and neither the Sellers nor the landlord (to the knowledge of such Seller) is in default thereunder; (ii) no waiver, indulgence or postponement of any of the Obligations thereunder has been granted by the lessee or lessor thereunder; and (iii) there exists no event, occurrence, condition, or act known to such Seller which upon notice or lapse of time would be or become a default thereunder. No Seller has violated or breached any provision of any such lease or sublease, and all Obligations required to be performed by each Seller under any such lease or sublease have been fully and properly performed. Except as set forth on Schedule 3.7 hereto, no Consent of any Person is required under any such lease or sublease in order for such lease or sublease to continue to be valid and subsisting and entitle Purchaser to come into and remain in possession of the premises demised thereunder after the consummation of the transactions contemplated by this Agreement.
Lease of Real Property. The Subsidiary Trust as lessor is entering into leases with the Operating Partnership as lessee with respect to the Real Property.
Lease of Real Property. Shareholder shall have executed and ---------------------- delivered to Purchaser the lease of the ▇▇▇▇▇ Center Property, in the form of Exhibit A attached hereto. Purchaser shall have entered into a lease for the --------- Wixom Property on terms acceptable to it.
Lease of Real Property. The Seller shall lease to Buyer the real property upon which the Premises, currently occupied by Seller, are located. At the closing, Buyer shall enter into a lease agreement with Seller for the Premises currently occupied by the Seller in the form attached hereto as Exhibit "D" (the "Lease"). The monthly rent shall be $2,500 triple net for a period of three (3) years subject to commercially reasonable and customary terms with a renewal option for an additional three (3) years at a rental of $3,000 per month..
Lease of Real Property. (i) Except the Lease and Sublease Agreement stated in Appendix 2 hereto, the Company is not a party to any lease, sublease, license or other legal documents in connection with the real property, and is not bound by such legal documents, and the Company has not executed any other legal documents in connection with the real property. Any rights and interests of the Company under the Lease and Sublease Agreement are free and clear of any kinds of liens, pledge and encumbrances.
(ii) All the leases and subleases executed by the Company (listed in Appendix 2) are in normal operation and fully effective. Except otherwise specified in Appendix 2, no amendments have been made to such leases and subleases. The Company has the right to benefit from all leases and subleases to which the Company is one party.
(iii) Except otherwise specified in Appendix 2, all rents and other current owed expenses have been paid, in accordance with all lease or sublease agreements to which the Company is a party.
(iv) The Company has carried out all obligations under all lease or sublease agreements to which the Company is a party; the Company has not breached the obligations under any lease or sublease agreement, and has not received notice of any breach under any lease or subleases agreement.
Lease of Real Property. (a) The Department hereby leases to the Corporation on an “as is” basis, subject to any Department obligation with respect to preexisting contamination as specified in Sections 4.2, 4.6 and 5.3 of this GCEP Lease and the Corporation’s obligations in Sections 4.3 and 4.4 of this GCEP Lease, that certain real property and improvements and fixtures located thereon, and easements, rights of way and appurtenances, utility lines, corridors, common walls, pipes, parking areas, service roads, railway lines, loading facilities, sidewalks, avenues of ingress, egress and access and all other similar items on the PORTS Site which appertain to such property and easements as identified and described in the maps and attachments which form Exhibit A to this GCEP Lease (“GCEP Leased Premises”). This GCEP Lease shall only become effective as to each facility or area (or portions thereof) identified in Exhibit A on the dates specified in Exhibit A, unless an alternate date is otherwise agreed to in writing by the Parties (“GCEP Lease Effective Date”). This GCEP Lease is subject to all existing easements, rights of way and appurtenances over, across, in, and upon the GCEP Leased Premises as of the GCEP Lease Execution Date. The Department will not grant any additional easements, rights of way or appurtenances over, across, in, and upon, the GCEP Leased Premises without the approval of the Corporation, which approval shall not be unreasonably withheld.
(b) It is recognized that the Corporation may need the right of access or the non-exclusive use of other areas, facilities, easements, rights of way, appurtenances, utility lines, corridors, common walls, pipes, parking areas, service roads, railway lines, loading facilities, sidewalks, avenues of ingress, egress and access and all other similar items on the PORTS Site which appertain to the GCEP Leased Premises but are not leased to the Corporation (“Nonexclusive Easements and Rights-of-Way”). Prior to the Corporation’s commencement of construction of the Commercial Plant, the Corporation shall identify the Nonexclusive Easements and Rights-of-Way needed for access or non-exclusive use, and upon agreement of the Parties, and subject to notice and procedures to be agreed upon by the Department and the Corporation, a list of these Easements and Rights-of-Way shall be appended to this GCEP Lease as Exhibit D. The list of Easements and Rights-of-Way shall be amended by the Parties from time to time to reflect changes to PORTS and a...
Lease of Real Property. (a) The Lease is in full force and effect. There is no default under the Lease and there are no facts currently existing that could lead to a default under the Lease with the passage of
Lease of Real Property. Buyer will lease the real property owned by the Seller and used in the Business according to the following terms: Seller will receive six percent (6%) of the net revenues derived from the growing and processing of hemp on the leased property. The lease of the property owned by the Seller will remain in effect as long as the Business is operating and may be terminated at the Buyer's discretion at any time with a thirty day notice.
Lease of Real Property. Purchaser and Seller shall enter into a lease (the "Lease") with respect to ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇ (the "Premises") in substantially the form annexed hereto as Exhibit A.
Lease of Real Property. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Real Property and all easements, appurtenances and rights related thereto as specifically set forth in this Lease. Such lease is upon, and subject to, the terms, covenants and conditions set forth below and each party covenants, as a material part of the consideration for this Lease, to keep and perform their respective obligations under this Lease.