Shared Lease Sample Clauses

A Shared Lease clause defines the arrangement where two or more tenants jointly rent a property under a single lease agreement. This clause typically outlines each tenant's rights and responsibilities, such as payment of rent, maintenance obligations, and liability for damages, often making all tenants collectively and individually responsible for the full rent and any breaches of the lease. By clearly establishing the terms of joint tenancy, the clause ensures that landlords can seek full payment or remedy from any tenant, thereby reducing the risk of unpaid rent or unresolved issues if one tenant fails to meet their obligations.
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Shared Lease. (a) East hereby grants West the right to co-occupy and utilize the "Leased Property" demised to East pursuant to the Lease Agreement (the "Shared Lease"). (b) West hereby agrees to be subject to and fully comply with all of the terms, obligations, conditions and provisions of East under the Lease Agreement, as if West were a signatory thereto.
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Shared Lease. Ownership Means a lease in a form approved by Homes England or where there is no such form in a form approved by the District Council such lease to provide for thefollowing:
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Shared Lease. Orkin and PRISM shall enter into a Sublease Agreement at the Closing in the form of Exhibit A attached hereto (the "Sublease Agreement") pursuant to which PRISM will sublease to Orkin, to the extent permissible, a specified amount of space at the facility covered by the lease specified on Schedule 1.03 hereto (the "Shared Lease")
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Shared Lease. 2.01 (d) Major Customers 2.01 (h) Permitted Encumbrances 2.01(o) Retail Customers 3.02(b) Consents 3.05 Customer Developments 3.06 Inventory
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Related to Shared Lease

  • Fixed Lease If this is a fixed lease, provide the start and end date for the lease term. 9.

  • Site Lease Facilities Lease, including Exhibits A-G

  • Triple Net Lease Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a “TRIPLE NET” lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant’s operation therefrom to the extent provided in this Lease. To the extent such costs and expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as Additional Rent.

  • Head Lease 7.1. To comply with all the obligations imposed upon the Landlord by a Superior Landlord if the Property is held under a Superior Lease. 7.2. To take all reasonable steps to ensure that the Superior Landlord complies with the obligations of the Superior Lease. 7.3. To provide a copy of the relevant sections of the Head Lease to the Tenant at the start of the Tenancy upon request. 7.4. To pay all charges imposed by any Superior Landlord for granting this Tenancy.

  • Operating Lease (i) Each Borrower shall (a) promptly perform and observe all of the covenants required to be performed and observed by it under the Operating Leases and do all things necessary to preserve and to keep unimpaired its material rights thereunder; (b) promptly notify Lender of any material default under any Operating Lease of which it is aware; (c) promptly deliver to Lender a copy of any notice of default or other material notice under any Operating Lease delivered to any Operating Lessee by Borrower; (d) promptly give notice to Lender of any notice or information that Borrower receives which indicates that an Operating Lessee is terminating its Operating Lease or that any Operating Lessee is otherwise discontinuing its operation of the applicable Individual Property; and (e) promptly enforce the performance and observance of all of the material covenants required to be performed and observed by the Operating Lessee under the applicable Operating Lease. (ii) If at any time, (A) an Operating Lessee shall become insolvent or a debtor in a bankruptcy proceeding or (B) Lender or its designee has taken title to an Individual Property by foreclosure or deed in lieu of foreclosure, has become a mortgagee-in-possession, has appointed a receiver with respect to the applicable Individual Property or has otherwise taken title to such Individual Property, Lender shall have the absolute right to (and Borrower and Operating Lessee shall reasonably cooperate and not in any way hinder, delay or otherwise interfere with Lender’s right to), immediately terminate the applicable Operating Lease under and in accordance with the terms of the applicable Subordination, Attornment and Security Agreement. (iii) Borrower shall not, without the prior written consent of Lender, which consent shall not be unreasonably withheld: (a) surrender, terminate or cancel any Operating Lease or otherwise replace any Operating Lessee or enter into any other operating lease with respect to any Individual Property, provided, however, at the end of the term of each Operating Lease, the applicable Borrower may renew such Operating Lease or enter into a replacement Operating Lease with Operating Lessee on substantially the same terms as the expiring Operating Lease except that Lender shall have the right to approve any material change thereto; (b) reduce or consent to the reduction of the term of any Operating Lease; or (c) enter into, renew, amend, modify, waive any provisions of, reduce Rents under, or shorten the term of any Operating Lease.