Core Lease definition

Core Lease means the memorandum of lease dated 20 December 1991 between the Crown, NZRC and Tranz Rail Limited, as varied by deed of variation dated 28 April 1993, by agreement to surrender dated 24 December 2001 and as further varied in accordance with section 3(c) of Schedule 2;
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Core Lease means the memorandum of lease dated 20 December 1991 entered into between the Crown and NZRC, collectively the lessor, and Toll Rail as lessee, varied on or around the date of this Agreement by memorandum of variation of lease between the same parties and including any subsequent variations or amendments made in accordance with the terms of the lease.
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Core Lease means the Variation and Restatement of Lease of the Crown rail estate between the Crown, NZRC and KiwiRail Limited dated 20 February 2013 as varied from time to time.
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Examples of Core Lease in a sentence

  • It does so to enable KiwiRail to enjoy the commercial benefit of the land through the Core Lease granted to KiwiRail.

  • It has leased the railway land to KiwiRail through the Core Lease for nominal consideration, to enable KiwiRail to enjoy the commercial benefit of the land and support the Crown’s investment in rail operations as a whole.

  • The implementation includes a module-based IWMS “Manhattan Software” (called “KMD Atrium” in Denmark) covering Core, Lease, Customer Relationship Management, Project and Energy modules.

  • This Agreement shall be on substantially the same terms (except as to the land surrendered from the Core Lease) as the Agreement to Partially Surrender and Vary the Core Rail Lease between the Crown, NZRC and Tranz Rail, dated 24 December 2001.

  • This Agreement will require the parties, following Completion, to negotiate in good faith to agree a further variation of the Core Lease in order to ensure that the lease reflects, and contains terms reasonably appropriate to, the remaining land leased to Tranz Rail under it after completion of the surrender of the Surrender Land.

  • The asynchronous nature of a DC link allows interconnection with different nominal frequencies [3].

  • The Crown will procure NZRC’s agreement to that surrender and variation of the Core Lease.

  • Tranz Rail and the Crown will agree to partially surrender and vary the Core Lease in respect of the Surrender Land, on the terms referred to in Schedule 5, together with any of the Released Land identified under Schedule 3 that is Retained Land.

  • It is acknowledged that the Crown may amend the New Zealand Railways Corporation Restructuring Act 1990 to prevent any material adverse outcome for the Crown arising from the surrender of land from the Core Lease and the parties expressly agree that, at the option of the Crown, the surrender of land from the Core Lease may be delayed until any time up to the end of the Transitional Period.

  • Opco shall lose its exclusivity in respect of the Wellington metro line segments if its passenger levels fall below those in the Core Lease.


More Definitions of Core Lease

Core Lease means the memorandum of lease dated 20 December 1991 entered into between the Crown and the New Zealand Railways Corporation, collectively the lessor, and Toll NZ as lessee, varied on or around the Commencement Date of these Terms by memorandum of variation of lease between the same parties and including any subsequent variations or amendments made in accordance with the terms of the lease.
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Core Lease shall have the meaning set forth in Section 4.16(c).
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Related to Core 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:

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Lease means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.