Comparable Lease definition

Comparable Lease means, with respect to Qualifying Replacement Railcars, a Lease that (a) will generate at least the same amount of average monthly lease revenue as the Reference Sold Railcars of a similar railcar type or, if there are no such Reference Sold Railcars of a similar railcar type, Portfolio Railcars of a similar railcar type or, if there are no such Portfolio Railcars of a similar type, such railcars of a similar type as the Administrator may reasonably determine, and (b) has a remaining Lease term at least equal to two-thirds of the average remaining Lease term of the Reference Sold Railcars.
Sample 1Sample 2Sample 3
Comparable Lease shall have the meaning given such term in Section 24.1(b).
Sample 1Sample 2Sample 3
Comparable Lease means a lease in the same space with a similar lease structure as compared to the previous in-place lease, excluding new leases for space that was not occupied under our ownership.
Sample 1Sample 2Sample 3

Examples of Comparable Lease in a sentence

  • If Lessee rejects the Comparable Lease, Lessor shall pay the Termination Fee to Lessee.

  • Lessee's acceptance of the Comparable Lease shall not be unreasonably withheld.

  • It is the intent of the parties that the Comparable Lease shall result in substantially the same ratio between Tenant's Operating Profit and Rent as then exists under this Lease for the Fiscal Year immediately preceding the sale.

  • In the event Landlord and Tenant are unable to agree upon the Fair Market Value of the original leasehold estate (excluding any Renewal Term, whether exercised or unexercised) or the proposed Comparable Lease leasehold estate, it shall be determined by arbitration pursuant to the procedure set forth in Article 15.

  • The parties agree that, if Landlord elects to offer to enter into a Comparable Lease, to the extent that the Fair Market Value of the Comparable Lease is less than the Fair Market Value of the original leasehold estate, calculated as set forth above, then Landlord shall compensate Tenant in cash for the deficiency prior to the effective date of the transfer of Tenant's leasehold estate.

  • Expansions, contractions and strategic short-term renewals are excluded from the Comparable Lease pool.

  • Expansions, contractions and strategic short-term renewals are excluded from the Comparable Lease pool.2 Rent Spread is calculated for Comparable Leases, a subset of the total population of leases for the period defined.

  • The adjustments in this Schedule 4(c) provide a methodology for comparing the “Adjusted Value of the Premises’ Tenant Improvements” (as defined below) with the value of the “Comparable Lease Tenant Improvement Package” (as defined below) under each Comparable Lease, and adjusting the effective rental rates under the Comparable Leases so that such rental rates are based on a tenant improvement package that is comparable to the Adjusted Value of the Premises’ Tenant Improvements.

  • Lessee may, in its sole and absolute discretion, accept or reject any offer of a Comparable Lease.

  • If Lessee rejects the Comparable Lease, Lessor shall pay the Termination Fee and Management Termination Fee to Lessee.


More Definitions of Comparable Lease

Comparable Lease means a lease with consistent structure that is executed for substantially the exact same space that has been vacant less than twelve months;
Sample 1Sample 2Sample 3
Comparable Lease. As defined in Section 36.1. ---------------- ------------
Sample 1Sample 2
Comparable Lease means any lease covering at least one full floor of rentable area in the Building (other than the ground floor and the penthouse floor). If either Landlord or Tenant shall dispute whether Tenant shall be entitled to the benefit of such provision, or the terms of this provision, either party may submit such dispute to arbitration in accordance with the provisions of Section 38.7 of this Lease and, pending the decision of the arbitrator, Tenant shall continue to pay for the cost of electricity consumed by the VAC Units, with a refund or credit when the matter is resolved. Landlord, throughout the Term, shall have access, subject to the provisions of Article 14, to the VAC Units and to any and all other mechanical installations of Landlord, including, but not limited to, air-cooling, fan, ventilating and machine rooms and electrical closets; Tenant shall not construct partitions or other obstructions which may interfere with Landlord’s free access thereto, or interfere with the moving of Landlord’s equipment to and from the enclosures containing said installations. Neither Tenant, not its agents, employees or contractors shall at any time enter the said enclosures or tamper with, adjust or touch or otherwise in any manner affect said mechanical installations. Landlord represents to Tenant that leases of the Building which are in effect as of the date of this Lease and which cover at least one full floor of the Building (other the ground floor of the Building and the penthouse floor) provide for the electricity necessary to operate package VAC units serving those floors to be measured by submeters; and that the consumption of electricity measured by such submeters is paid for by the tenants serviced by such package VAC units.
Sample 1

Related to Comparable Lease

  • Eligible Lease means, as of any date of determination, a Lease for a Property that satisfies all of the following:

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • the Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Lease means any agreement, whether written or oral, no matter how styled or structured, pursuant to which a Loan Party is entitled to the use or occupancy of any real property for any period of time.

  • Cooperative Lease With respect to a Cooperative Loan, the proprietary lease or occupancy agreement with respect to the Cooperative Apartment occupied by the Mortgagor and relating to the related Cooperative Stock, which lease or agreement confers an exclusive right to the holder of such Cooperative Stock to occupy such apartment.

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;

  • Financeable Ground Lease means, a ground lease reasonably satisfactory to the Administrative Agent on behalf of the Lenders, which must provide customary protections for a potential leasehold mortgagee (“Mortgagee”) such as (i) a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years, (ii) a provision that the ground lease will not be terminated until the Mortgagee has received notice of a default, has had a reasonable opportunity to cure and has failed to do so, (iii) provision for a new lease to the Mortgagee as tenant on the same terms if the ground lease is terminated for any reason, (iv) transferability of the tenant’s interest under the ground lease by the Mortgagee without any requirement for consent of the ground lessor unless based on delivery of customary assignment and assumption agreements from the transferor and transferee, (v) the ability of the tenant to mortgage tenant’s interest under the ground lease without any requirement for consent of the ground lessor and (vi) provisions that the tenant under the ground lease (or the leasehold mortgagee) has customary protections with respect to the application of insurance proceeds or condemnation awards attributable to the tenant’s interest under the ground lease and related improvements.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • Space Leases means any and all leases, subleases, lettings, licenses, concessions, operating agreements, management agreements, and all other agreements affecting the Trust Estate that Trustor has entered into, taken by assignment, taken subject to, or assumed, or has otherwise become bound by, now or in the future, that give any person the right to conduct its business on, or otherwise use, operate or occupy, all or any portion of the Site or Improvements and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Trust Estate to extract or remove natural resources of any kind, together with all amendments, extensions, and renewals of the foregoing entered into in compliance with this Deed of Trust, together with all rental, occupancy, service, maintenance or any other similar agreements pertaining to use or occupation of, or the rendering of services at the Site, the Improvements or any part thereof.

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Anchor Tenant means, with respect to a Community Renewable Energy Generation Project, the non-End Use Customer subscriber designated by Seller as such under its SFA application.” The following is added as Section 1.3.3:

  • Approved Lease has the meaning set forth in Section 6.11(a).

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Ground Lessor means, as to any Site, the “lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Lease Assignment has the meaning set forth in Section 3.5(d).

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Lease Agreements shall have the meaning set forth in Section 3.14.