Operating Lease Obligations Clause Samples
The Operating Lease Obligations clause defines the responsibilities of a party, typically a lessee, to make payments and fulfill other commitments under operating lease agreements. This clause outlines which leases are considered operating leases, details the payment schedule, and may specify reporting or disclosure requirements related to these obligations. Its core practical function is to ensure that all ongoing lease commitments are clearly identified and accounted for, thereby providing transparency and helping parties manage financial risk associated with long-term lease arrangements.
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Operating Lease Obligations. On the Effective Date, none of the Loan Parties has any Operating Lease Obligations that provide for annual rent in excess of $50,000 other than the Operating Lease Obligations set forth on Schedule 6.01(q).
Operating Lease Obligations. On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).
Operating Lease Obligations. The Credit Parties will not permit any Consolidated Party to enter into, assume or permit to exist any obligations for the payment of rental under Operating Leases which in the aggregate for all such Persons would exceed $5,000,000 in any fiscal year.
Operating Lease Obligations. On the Closing Date, none of the Credit Parties has any Operating Lease Obligations with annual payments exceeding $100,000 other than the Operating Lease Obligations set forth on Schedule 3.17.
Operating Lease Obligations. Each of the Credit Parties will not, nor will it permit any Subsidiary to, enter into, assume or permit to exist any obligations for the payment of rent under Operating Leases which in the aggregate for all such Persons would exceed $3,250,000 in any fiscal year.
Operating Lease Obligations. Borrower shall not incur operating lease obligations requiring payments in excess of $100,000 in the aggregate during any Fiscal Year of Borrower.
Operating Lease Obligations. The Borrower shall, and shall cause each of its Subsidiaries to, promptly notify the Agent after entering into any lease of real or personal property as lessee or sublessee (other than a Capital Lease), if, after giving effect thereto, the aggregate amount of Rentals (as hereinafter defined) payable by the Borrower and its Subsidiaries on a consolidated basis in any Fiscal Year in respect of such lease would exceed $3,500,000, individually, or $15,000,000 in the aggregate for all such leases. The term "Rentals" means all payments due from the lessee or sublessee under a lease, including, without limitation, basic rent, percentage rent, property taxes, utility or maintenance costs, and insurance premiums.
Operating Lease Obligations. On the Effective Date, no Loan Party has any obligations as lessee for the payment of rent for any personal property other than the Operating Lease Obligations set forth on Schedule 5.01(s).
Operating Lease Obligations. Section 9.24
Operating Lease Obligations. The Credit Parties will not permit any Consolidated Party to enter into, assume or permit to exist any obligations for the payment of rental under Operating Leases which in the aggregate for all such Persons would exceed $2,500,000 in any fiscal year.