Net lease

Document Sample
Net lease Powered By Docstoc
					Net lease. This Lease is a net lease and Lessee acknowledges and agrees that, except as otherwise expressly provided herein or in the Participation Agreement, Lessee's obligation to pay Rent and other amounts hereunder and thereunder and the rights of Lessor in and to such Rent and other amounts, are absolute and unconditional and shall not be affected by any circumstance, including without limitation (i) any abatement, reduction, setoff, defense, counterclaim or recoupment whatever or any right to any thereof (including without limitation abatements, reductions, setoffs, defenses, counterclaims and recoupments for or on account of any past, present or future claims which Lessee may have against Lessor, any Seller, any supplier of such Seller or Lessee with respect to the Units or any other person for any reason whatever), (ii) any insolvency, bankruptcy, reorganization or similar proceedings by or against Lessee, or (iii) any other circumstance, happening or event whatever, whether or not similar to any of the foregoing; nor, except as otherwise expressly provided herein, shall this Lease terminate, nor shall any of the obligations of Lessee to pay Rent and other amounts hereunder or under the Participation Agreement be otherwise affected, by reason of any defect in title, condition, design or operation or lack of fitness for use of, or any destruction or theft of, all or any part of the Units from any cause whatever, the prohibition of Lessee's use or possession of, or any dispossession by paramount title or otherwise of, all or any part of the Units, the lawful prohibition of Lessee's use of all or any part of the Units, the interference with such use or possession by any governmental agency or authority or any other person or the invalidity or unenforceability or the disaffirmance of this Lease or the Participation Agreement or any other document or agreement, or by reason of any failure by Lessor or any other person to perform any of its obligations herein or therein contained, or by reason of any Liens on all or any part of the Units or for any other cause whether similar or dissimilar to the foregoing, any present or future law to the contrary notwithstanding, it being the intention of the parties hereto that the Rent and other amounts payable by Lessee under this Lease or the Participation Agreement shall continue to be payable in all events in the manner and at the times herein or therein provided unless the obligation to pay the same shall be terminated pursuant to the express provisions of this Lease or the Participation Agreement.


				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:482
posted:8/31/2007
language:English
pages:1
Brea Brea
About