Subordinate Right Sample Clauses

A Subordinate Right clause establishes that certain rights or interests are ranked below others in terms of priority or enforceability. In practice, this means that if multiple parties have claims or interests in the same asset or agreement, the rights designated as subordinate will only be honored after the superior or senior rights have been satisfied. For example, in a loan agreement, a lender with a subordinate right would be repaid only after the primary lender is fully paid. This clause is essential for clarifying the order of priority among competing interests, thereby reducing disputes and managing risk among parties.
Subordinate Right. Tenant’s right to lease the Right of First Refusal Space is subject to the pre-existing rights of CBCA. [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. Landlord will reimburse Tenant for its verifiable moving expenses associated with Tenant’s location to the third (3rd) floor of the Building (“Reimbursement Amount”). This Reimbursement Amount is in addition to the Tenant Improvement Allowance and is limited to payments for the movers, relocation of phone system and computers and associated cabling, reasonable replacement of stationery and business cards, and any telecommunications equipment. Such Reimbursement Amount shall not exceed ($1.00 per rentable square foot / $21,068 based upon 21,068 rsf leased). Provided that this Lease is in full force and effect and Tenant is not in default in any of its obligations under this Lease, the Reimbursement Amount shall be payable by Landlord to Tenant within thirty (30) days after the later to occur of either (i) Landlord’s receipt and approval of all of the verifiable moving expenses or (ii) Tenant’s occupancy of the Premises. [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. Base Rental shall be payable as follows: Months Cost Per Rentable Square Foot Per Annum Monthly Installment Months 1-3 [**** ] [**** ] Months 4-39 [**** ] [**** ] Months 40-63: [**** ] [**** ] [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. CVHA, Trane Chiller (one) Total AC Tonage = 250 tons Electrical consumption =.62 KW per ton .62 X 250 = 155.00 KW Trane Air Handler (two per floor, run 3 floors) One Fan @ 15 horsepower (one HP. =.746 kw) 15 X .746 X 6 = 67.14 KW Condenser water pump One pump @ 20 horse power (one HP =.746 kw) 20 X .746 = 14.92 KW Chill water pump One pump @ 20 horse power (one HP =.746 kw) 20 X .746 = 14.92 KW Cooling Tower Fan (Two) One fan @ 25 horse power (one HP =.746 kw) 25 X .746 = 37.30 KW A. Total Electrical Costs Total kWh X .13427 per kwh charged of Nov. 06 = El...
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Subordinate Right. Tenant’s right to expand hereunder is subject to the pre-existing rights of CBCA and the rights of Composite Cooling Solutions, L.P., to lease 2,500 square feet on the fifth (5th) floor of the Building. [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
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Subordinate Right. Tenant’s right to expand hereunder is subject to the pre-existing rights of CBCA and the rights of Composite Cooling Solutions, L.P., to lease 2,500 square feet on the fifth (5th) floor of the Building. [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. RIDER NO. 103 - PAGE 2 OF 2 Rider No. 104 RIGHT OF FIRST REFUSAL 1. Right of First Refusal. Provided this Lease is then in full force and effect and no event of default as defined in Paragraph 25 of this Lease shall have occurred and remain uncured beyond the expiration of any applicable cure period, and subject to the terms hereof, Tenant shall have the right of first refusal during the term of the Lease Term as hereinafter described to lease all (but not less than all) of the additional space consisting of the area designated and referred to on Exhibit “B-2” attached to this Lease as the “Right of First Refusal Space”, for a term beginning on the Effective Date (as hereinafter defined) and ending contemporaneously with the expiration of the Lease Term (unless sooner terminated pursuant to the terms of this Lease, and subject to any rights of extension contained in this Lease). The right of first refusal contained herein shall automatically terminate following the expiration of such Lease Term (unless sooner terminated pursuant to the terms of this Lease).
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Related to Subordinate Right

  • Securities Subordinate to Senior Indebtedness The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the payment of the principal of (and premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

  • Subordinate Officers The Board may appoint, or empower the Chief Executive Officer or, in the absence of a Chief Executive Officer, the President, to appoint, such other officers and agents as the business of the Corporation may require. Each of such officers and agents shall hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the Board may from time to time determine.

  • Senior Indebtedness Status The Obligations of each Credit Party under this Agreement and each of the other Financing Documents ranks and shall continue to rank at least senior in priority of payment to all Debt that is contractually subordinated to the Obligations of each such Person under this Agreement and is designated as “Senior Indebtedness” (or an equivalent term) under all instruments and documents, now or in the future, relating to all Debt that is contractually subordinated to the Obligations under this Agreement of each such Person.

  • Subordination of Other Obligations Any Indebtedness of Borrower or any Guarantor now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such Indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is continuing shall be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to Administrative Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

  • Subordination to Mortgage This Lease, and any sublease entered into by Tenant under the provisions of this Lease, shall be subject and subordinate to any ground lease, mortgage, deed of trust, sale/leaseback transaction or any other hypothecation for security now or hereafter placed upon the Premises, the Building, the Center, or any of them, and the rights of any assignee of Landlord or of any ground lessor, mortgagee, trustee, beneficiary or leaseback lessor under any of the foregoing, and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof; provided, however, that such subordination in the case of any future ground lease, mortgage, deed of trust, sale/leaseback transaction or any other hypothecation for security placed upon the Premises, the Building, the Center, or any of them shall be conditioned on Tenant’s receipt from the ground lessor, mortgagee, trustee, beneficiary or leaseback lessor of a Non-Disturbance Agreement in a form reasonably acceptable to Tenant (i) confirming that so long as Tenant is not in material default hereunder beyond any applicable cure period (for which purpose the occurrence and continuance of any event of default under Section 14.1 hereof shall be deemed to be “material”), Tenant’s rights hereunder shall not be disturbed by such person or entity and (ii) agreeing that the benefit of such Non-Disturbance Agreement shall be transferable to any transferee under a Permitted Transfer and to any other assignee or subtenant that is acceptable to the ground lessor, mortgagee, trustee, beneficiary or leaseback lessor at the time of transfer. If any mortgagee, trustee, beneficiary, ground lessor, sale/leaseback lessor or assignee elects to have this Lease be an encumbrance upon the Center prior to the lien of its mortgage, deed of trust, ground lease or leaseback lease or other security arrangement and gives notice thereof to Tenant, this Lease shall be deemed prior thereto, whether this Lease is dated prior or subsequent to the date thereof or the date of recording thereof. Tenant, and any sublessee, shall execute such documents as may reasonably be requested by any mortgagee, trustee, beneficiary, ground lessor, sate/leaseback lessor or assignee to evidence the subordination herein set forth, subject to the conditions set forth above, or to make this Lease prior to the lien of any mortgage, deed of trust, ground lease, leaseback lease or other security arrangement, as the case may be. Upon any default by Landlord in the performance of its obligations under any mortgage, deed of trust, ground lease, leaseback lease or assignment, provided that Tenant has received such a Non-Disturbance Agreement from the applicable party, Tenant (and any sublessee) shall, notwithstanding any subordination hereunder, attorn to the mortgagee, trustee, beneficiary, ground lessor, leaseback lessor or assignee thereunder upon demand and become the tenant of the successor in interest to Landlord, at the option of such successor in interest, and shall execute and deliver any instrument or instruments confirming the attornment herein provided for. Landlord represents and warrants to Tenant that as of the date of this Lease, neither the Premises, the Building nor the Center is subject to any existing ground lease, mortgage, deed of trust, sale/leaseback transaction or any other hypothecation for security.