Synthetic Lease. Any lease of goods or other property, whether real or personal, which is treated as an operating lease under GAAP and as a loan or financing for U.S. income tax purposes.
Synthetic Lease. Any lease treated as an operating lease under generally accepted accounting principles and as a loan or financing for U.S. income tax purposes.
Synthetic Lease. As defined in paragraph (f) of the definition of "Indebtedness".
Synthetic Lease. (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Synthetic Lease. Any lease which is treated as an operating lease under GAAP and as a loan or financing for U.S. income tax purposes.
Synthetic Lease. Any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease in accordance with GAAP.
Synthetic Lease. Any lease or similar arrangements entered into by any Person in connection with the acquisition or lease of real property, fixtures or other Capital Assets which is treated in accordance with generally accepted accounting principles as an operating lease for accounting purposes, but as a Capitalized Lease for tax purposes.
Synthetic Lease. At or prior to Closing, Seller shall procure or obtain such documents or instruments as may be required in order to terminate the Synthetic Lease with respect to the Subject Property and to release the Subject Property from all liens and encumbrances created pursuant to the Synthetic Lease Documents and the Revolving Credit Documents. Any such instruments of termination or release, as the case may be, with respect to the Real Property shall be in such form as the Title Company may reasonably require to be recordable in the real property records of the county in which the Real Property is located.
Synthetic Lease. Any lease which is treated as an operating lease under GAAP and as a loan or financing for U.S. income tax purposes. THIRD DEBT RATING. MCRLP's long term unsecured debt rating from a Third Rating Agency. THIRD RATING AGENCY. Fitch or another nationally-recognized rating agency (other than S&P or Moody's) reasonably satisfactory to the Administrative Agent. TITLE POLICIES. For each Unencumbered Property, an ALTA standard form title policy (or, if such form is not available, an equivalent form of title insurance policy) of a reasonably current date or endorsed down to a reasonably current date issued by a nationally-recognized title insurance company, insuring that the Borrower or a Subsidiary Guarantor holds good and clear marketable fee simple or leasehold title to such Unencumbered Property, subject only to Permitted Liens. TOTAL COMMITMENT. As of any date, the sum of the then-current Commitments of the Lenders, which shall not at any time exceed $600,000,000, except as such amount may be increased pursuant to Section 2.2 hereof or reduced pursuant to Section 2.10 hereof.
Synthetic Lease. There shall occur an Event of Default (as defined in the Participation Agreement) under the Participation Agreement.
