Common use of No Ground Leases Clause in Contracts

No Ground Leases. None of the Properties is subject to any ground lease where a Borrower or an Affiliate thereof is ground tenant thereunder.

Appears in 2 contracts

Sources: Loan Agreement (Cole Credit Property Trust Inc), Loan Agreement (Cole Credit Property Trust III, Inc.)

No Ground Leases. None of the Properties is subject to any ground lease where a Mortgage Borrower or an Affiliate thereof is ground tenant thereunder.

Appears in 2 contracts

Sources: Mezzanine Loan Agreement (Cole Credit Property Trust Inc), Mezzanine Loan Agreement (Cole Credit Property Trust III, Inc.)