Lease Buyout Sample Clauses

Lease Buyout. Should circumstances arise that do not allow you to complete the lease term, a Lease Buyout is an option for you to consider. Only one and two bedroom Premises are eligible. All occupants must agree to terminate the lease agreement. A Xxxxx Xxxxxx may be paid on the first of the month with a move out by the end of the same month. Please check with the office for exact details, costs, and terms. All Lease Buyouts are at the sole discretion of Management.

Get the Official Word Add-in

Lease Buyout. Buyer and Seller acknowledge and agree, that following the date hereof, Seller may engage in certain Lease Buyouts. With respect to each Lease Buyout, in the event that the purchase price negotiated by Seller for such Lease Buyout is:

Lease Buyout. Landlord agrees to deposit into escrow (the "Lease Buyout Escrow") for use by Tenant in the manner described below the sum of Two Hundred Seventy Thousand and 00/100 Dollars ($270,000.00), or such other amount as is determined by multiplying $15,000.00 by the number of whole or partial months remaining in the term of the "Existing Lease" [as defined below] as of the commencement date of the term of this Lease. Landlord shall make such deposit into the Lease Buyout Escrow within 30 days of the commencement date of this Lease. The escrow holder shall be Xxxxxxxx Xxxx Company ("Escrow Agent"), which company Tenant and Landlord each hereby acknowledge and agree is also acting as real estate broker for Landlord in connection with this Lease. The Lease Buyout Escrow may be used by Tenant only for the following purposes and for no other use or purpose: Tenant may use the Lease Buyout Escrow for the purpose of offsetting Tenant's Lease obligations under another lease at 000 Xxxxxxx Xxxxxxx, Suite 106, Roswell, Georgia (the "Existing Lease"), including without limitation the making of regularly monthly payments of "rents" and/or "additional rents" (however described or denominated) pursuant to the Existing Lease, and/or, subject to Landlord's review and approval in Landlord's reasonable good faith discretion, for the purpose of settling and compromising, and buying out, all future such rental payment obligations under the Existing Lease (an "Approved Buyout") pursuant to a lease termination agreement (a Lease Termination Agreement"). Escrow Agent is hereby authorized and instructed by Landlord and Tenant to disburse from escrow and remit to Tenant an amount equal to the monthly rental payments made by Tenant under the Existing Lease for any whole or partial months during the term of this Lease. Such monthly disbursements from escrow shall be made monthly within five (5) business days after Escrow Agent receives from Tenant a copy of Tenant's check in payment of such rents to the Landlord under the Existing Lease. Subject to Escrow Agent's receipt of further written approval from Landlord with respect to any Lease Termination Agreement and Approved Buyout pursuant thereto, Escrow Agent is also hereby authorized and instructed by Landlord and Tenant to release from escrow and disburse by check payable to the landlord under the Existing Lease a check in the amount of any Approved Buyout of the Existing Lease. Landlord shall have no other obligations with respect to th.

Lease Buyout. Lessee shall have the right to terminate this Lease ------------ at the beginning of the twenty fifth (25th) month of this Lease term subject to the following requirements.

Lease Buyout. Lessee will have the right after the second (2nd) lease year to buyout and terminate the Lease upon One Hundred Eighty (180) days written notice and payment of Two Hundred Fifty Thousand Dollars ($250,000.00) to Lessor. Lessee will continue to pay base rent and operating expenses until the 180 day notice expires. In addition to the buyout notice and fee, Lessee will pay to Lessor the unamortized portion of all the generator wiring expenses incurred by Lessor. The generator expenses for purposes of this Lease will be amortized over a five (5) year period.

Related to Lease Buyout

• Lease Estoppels With respect to each Mortgage Loan secured by retail, office or industrial properties, the Mortgage Loan Seller requested the related Mortgagor to obtain estoppels from each commercial tenant with respect to the Certified Rent Roll (except for tenants for whom the related lease income was excluded from the Mortgage Loan Seller’s underwriting). With respect to each Mortgage Loan predominantly secured by a retail, office or industrial property leased to a single tenant, the Mortgage Loan Seller reviewed such estoppel obtained from such tenant no earlier than 90 days prior to the origination date of the related Mortgage Loan (or such longer period as Mortgage Loan Seller may deem reasonable and appropriate based on Mortgage Loan Seller’s practices in connection with the origination of similar commercial and multifamily loans intended for securitization), and to Mortgage Loan Seller’s knowledge, based solely on the related estoppel, (x) the related lease is in full force and effect and (y) there exists no material default under such lease, either by the lessee thereunder or by the lessor subject, in each case, to customary reservations of tenant’s rights, such as with respect to CAM and pass-through audits and verification of landlord’s compliance with co-tenancy provisions.
• LEASE OF EQUIPMENT Lessor leases to Lessee, and Lessee leases from Lessor, all the property described in the Lease Schedules which are signed from time to time by Lessor and Lessee.
• Landlord’s Work (a) For purposes of this lease, "Landlord's Work" means, collectively, the alterations and improvements to the demised premises to be constructed and/or installed by Landlord in accordance with the terms and conditions of this lease, as more particularly described in Exhibit ________ attached to and hereby made a part of this lease. Landlord shall use commercially reasonable efforts to "Substantially Complete" the Landlord's Work not later than ________, 20________ (the "Substantial Completion Target Date"). For purposes of this lease, Landlord's Work shall be deemed to be "Substantially Complete" as of the date on which the general contractor or the architect employed by Landlord with respect to the construction and/or installation of Landlord's Work shall certify in writing to Landlord that: (i) Landlord's Work has been substantially completed in all material respects substantially in accordance with the approved plans and specifications therefor, if any; and (ii) a temporary or permanent certificate of occupancy has been issued by the governmental authority having jurisdiction with respect to Landlord's Work or the governmental authority having jurisdiction with respect to Landlord's Work has otherwise evidenced its approval of Landlord's Work. Landlord shall have no liability whatsoever to Tenant in the event that Landlord shall fail for any reason whatsoever to Substantially Complete Landlord's Work on or before the Substantial Completion Target Date (including, without limitation, for any damages that Tenant may suffer as a result thereof or in connection therewith); provided, however, in such event, Landlord shall use commercially reasonable efforts to Substantially Complete Landlord's Work as soon as possible thereafter. Landlord shall use commercially reasonable efforts to complete any portions or aspects of Landlord's Work which shall be incomplete as of the date of Substantial Completion of Landlord's Work as soon as possible thereafter. Notwithstanding anything to the contrary set forth elsewhere in this lease, Tenant hereby acknowledges and agrees that the construction and/or installation of Landlord's Work by Landlord shall not be deemed in any way to constitute a condition precedent to the occurrence of the Commencement Date (as such date is set forth in Paragraph 1.3 of this lease) or to the effectiveness of any of the agreements or obligations of Tenant set forth in this lease with respect to the demised premises (including, without limitation, the commencement of the obligation to pay Rent by Tenant as of the Commencement Date).