THRIVE SANTA ANA, INC. (4) - Laserfiche WebLink

Home Browse Search

1.1.27. "Rent" shall mean one dollar and zero cents ($1.00) per month, pursuant to the terns and conditions of this Lease, due and payable from Tenant to Lessor for lease of the Premises to the Tenant for the Project. 1.1.28. "Risk Manager" shall mean the Risk Manager for the City, or designee, or upon written notice to Tenant, such other person as may be designated by the City Council. 1.1.29. "Tenant Ownership Change" shall mean (a) any transfer or assignment by Tenant of the Leasehold Estate or (b) any "Aggregate Transfer" of at least twenty five percent (25%) of the "Ownership Interest(s)" in Tenant, in each case that is not an "Excluded Transfer." 1.1.30. "Term" is defined in Section 2.2. 1.1.31. "Transfer" is defined in Section 10.1. 1.1.32. "Transfer Notice" is defined in Section 10.4. 1.1.33. "Work" shall mean both Tenant's construction activity with respect to the Improvements, including permitted future changes, alterations and renovations thereto and also including, without limiting the generality of the foregoing, site preparation, landscaping, installation of utilities, street construction or improvement and grading or filling in or on the Premises. ARTICLE II LEASE OF PROPERTY 2.1 Lease of Premises. 2.1.1. Lessor hereby leases the Premises to Tenant for the Term, and Tenant hereby leases the Premises from Lessor for the Term, subject to the terms, conditions, covenants, restrictions and reservations of this Lease. 2.1.2. Warranty of Peaceful Possession. Lessor covenants and warrants that, subject to the Tenant's payment of Rent and performance and observation of all of the covenants, obligations and agreements herein contained and provided to Tenant, Tenant shall and may peaceably and quietly have, hold, occupy, use and enjoy the Premises during the Term and may exercise all of its rights hereunder. Except as otherwise set forth herein, the Lessor covenants and agrees that it shall not grant any mortgage or lien on or in respect of its fee interest in the Premises unless the same is expressly subject and subordinate to this Lease. 2.2 Term. The "Term" of this Lease shall commence on the Effective Date of this Lease, and shall expire at 12:00 midnight Pacific Standard Time on the 99t" anniversary of the Effective Date, unless sooner terminated as a result of Tenant's non-compliance with any terms, conditions, covenants, restrictions or reservations of this Lease. Page 16