Material Lease Clause Samples

Material Lease all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) cover more than 80,000 square feet of the Improvements or (ii) have a gross annual rent of more than twelve percent (12%) of the total annual Rents. The Master Lease is deemed to be a Material Lease.

Material Lease. Section 3.08 Merger.......................................................................

Material Lease all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) cover more than 100,000 square feet of the Improvements or (ii) have a gross annual rent of more than twelve percent (12%) of the total annual Rents.

Material Lease. The definition of “Material Lease” as defined in the Lease shall not include any of the leases entered into by and between Seller and Purchaser with respect to the MOB Properties.

Material Lease all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) cover more than 10,000 square feet of the Improvements or (ii) have a term of more than five years (not taking into account any extension options).

Material Lease all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) cover more than the greater of 37,389 square feet of the Improvements or a full floor of the Improvements or (ii) have a gross annual rent of more than ten percent (10%) of the total annual Rents. The Master Lease is deemed to be a Material Lease. Maturity Date: the date on which the final payment of principal of the Note becomes due and payable as therein provided, whether at the Stated Maturity Date, by declaration of acceleration, or otherwise. Minor Lease: any Lease that is not a Material Lease. Net Operating Income: for any period during the Term of the Loan, the actual net operating income of the Property determined on a cash basis of accounting, after deducting therefrom deposits to (but not withdrawals from) any reserves required under this Agreement, and without giving credit for non-recurring extraordinary items of income.

Material Lease all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) constitute five percent (5%) or more of the Property’s gross leasable area, (ii) have a gross annual rent of five percent (5%) or more of the total annual Rents, or (iii) demise at least one full floor of the Improvements.

Material Lease any Lease which either individually, or when taken together with any other Lease with the same tenant or its Affiliates (i) demises five percent (5%) more of the rentable square feet of the Property or whose Rents constitute five percent (5%) or more of the total annual Rents for the Property or (ii) has a term (including renewal options) of more than five (5) years. Material Sublease: any Sublease which either individually, or when taken together with any other Sublease with the same Subtenant or its Affiliates (i) demises five percent (5%) or more of the rentable square feet of the Property or whose rents constitute five percent (5%) or more of the total annual rents for the Property or (ii) has a term (including renewal options) of more than five (5) years; provided, however, that while a Net Lease is in force and effect, any Sublease which the Net Tenant thereunder may enter into without the consent of the landlord under such Net Lease (a “Net Lease Minor Sublease”) will not constitute a Material Sublease.

Material Lease a Lease that covers more than twenty (20) Properties or (b) all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates cover greater than fifty percent (50%) of any Property.