Proceeds of This Lease Sample Clauses

The "Proceeds of This Lease" clause defines how any financial benefits, payments, or compensation arising from the lease—such as insurance payouts, sale proceeds, or other monetary returns—are to be handled and distributed between the parties. Typically, this clause specifies which party is entitled to receive such proceeds in various scenarios, for example, if the leased property is damaged or sold during the lease term. Its core practical function is to allocate rights to financial returns generated by the lease, thereby preventing disputes and ensuring clarity regarding the distribution of such funds.
Proceeds of This Lease. The parties agree that any proceeds of this Lease, if any shall be allocated by the Board of Trustees of the University to the Sponsoring Campus for which this lease applies and deposited in the General Fund of such Sponsoring Campus and used for purposes including but not limited to students financial aid for students who are eligible to receive Tuition Assistance Award or Supplemental Tuition Assistance pursuant to §667 or 667-A of the Education Law and to support additional full time faculty positions
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Related to Proceeds of This Lease

  • of this Lease The Options herein granted to Lessee are not assignable separate and apart from this Lease.

  • Construction of this Agreement The Parties agree that each Party and its legal counsel have reviewed and revised this Agreement and that any rule of construction to the effect that ambiguities are to be resolved against the drafting Party shall not apply in the interpretation of this Agreement or any amendments or exhibits thereto.

  • Termination of this Contract Either party may terminate this contract by a 30-day written notice to the other party. Upon termination, the Purchaser’s liability shall be limited to the services provided by the Provider up to the date of termination. If the Purchaser terminates the contract for reasons other than non-performance by the Provider, the Purchaser may compensate the Provider for an amount determined by mutual agreement of both parties. This contract or any part thereof may be terminated immediately by either party for just cause, including, but not limited to, health and safety issues, fraud, criminal activity, violations of license or certification standards.

  • THE WORK OF THIS CONTRACT The Contractor shall fully execute the Work described in the Contract Documents, except as specifically indicated in the Contract Documents to be the responsibility of others.

  • Objectives of this Agreement The objectives of this agreement are as follows: i. To maintain and enhance the efficiency and productivity of the company. ii. To provide for increased pay and conditions of employment for employees. iii. To engender a cooperative industrial relations environment within the company and between the parties. iv. To maintain and improve occupational health and safety standards on company projects. v. To recognise the value of training and provide increased opportunities for employees to upgrade skill levels. vi. To meet the requirements and structural changes of the principal contractors for which the company are engaged by.