Ally Lease definition

Ally Lease means that certain Lease by and between Ally Financial, Inc. (as assignee of Ally Servicing, LLC, formerly known as Semperian, LLC), as tenant, and Borrower (as successor landlord of Lake Vista Pointe, L.P.), as landlord, dated May 31, 2008, as amended on November 30, 2013.
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Examples of Ally Lease in a sentence

  • Provided no Event of Default exists, Lender shall make disbursements from the Rollover Reserve Account (i) in an amount equal to any deposits for free rent or rental abatements upon the expiration of such free rental periods or rental abatement periods (i.e: August 31, 2014 with respect to the expansion premises for the Ally Lease pursuant to the First Amendment thereof) and (ii) for tenant improvement and leasing commission obligations incurred by Borrower.

  • In the event there is an Ally Lease Trigger Event or an Ally Bankruptcy Trigger Event, the monies collected in the Rollover Reserve Account shall be held until the space under the Ally Lease has been relet and all tenant improvements and leasing commissions related to the replacement lease(s) have been paid in full.

  • In the event that a Cash Sweep Period exists due solely to an Ally Lease Trigger Event, an Ally Credit Rating Trigger Event or an Ally Bankruptcy Trigger Event, unless Borrower delivers a Letter of Credit for the difference between $2,450,040.00 and the balance in the Rollover Reserve Account, all Excess Cash Flow shall be deposited into the Rollover Reserve Account until the occurrence of an Ally Lease Event Cure, an Ally Credit Rating Event Cure or an Ally Bankruptcy Trigger Event Cure, as applicable.

  • Notwithstanding the foregoing, Borrower shall not be required to reserve for any Taxes or Insurance Premiums (i) for so long as the Ally Lease is in effect and Borrower is owned and Controlled by Guarantor; and (ii) that are required to be paid by tenants or, in the case of Insurance Premiums, are self-insured by tenants, pursuant to their respective Lease, provided that such tenants have investment grade credit ratings acceptable to Lender.

  • In the event of an Ally Credit Rating Event Cure by which the credit rating of the tenant under the Ally Lease is increased to a rating of BB by S&P or Ba3 by ▇▇▇▇▇’▇ or higher, the funds reserved in the Rollover Reserve Account during the Ally Credit Rating Trigger Event or the Letter of Credit Borrower delivered to Lender shall be returned to Borrower, provided that there is not an Ally Lease Trigger Event.

  • In addition, Borrower shall pay to Lender all Excess Cash Flow during any Cash Sweep Event due to (i) an Ally Credit Rating Trigger Event; (ii) an Ally Lease Trigger Event; or (iii) an Ally Bankruptcy Trigger Event, in accordance with Section 2.8.2(b)(vii) hereof, which amounts shall be deposited with and held by Lender for tenant improvement and leasing commission obligations incurred following the date hereof.

  • To Borrower’s knowledge, all work to be performed by Borrower under each Lease has been performed as required and has been accepted by the applicable tenant, and, to Borrower’s knowledge, except as set forth in that certain First Amendment to Lease with respect to the Ally Lease, any payments, free rent, partial rent, rebate of rent or other payments, credits, allowances or abatements required to be given by Borrower to any tenant has already been received by such tenant.