Corrected Lease definition

Corrected Lease. As defined in the Property Management Agreement.
Sample 1Sample 2Sample 3
Corrected Lease. Any Specially Serviced Lease with respect to which, as of any date of determination, one or more of the following as are applicable shall have occurred with respect to each Specially Serviced Lease Trigger Event that previously occurred with respect to such Specially Serviced Lease:
Sample 1Sample 2Sample 3
Corrected Lease. Any Lease that had been a Specially Serviced Lease but with respect to which (a) as of the date of determination, no circumstance identified in clauses (a) through (e) of the definition of the term “Specially Serviced Lease” then exists and (b) one or more of the following as are applicable occur:
Sample 1Sample 2Sample 3

Examples of Corrected Lease in a sentence

  • Except as provided in the preceding sentence, for the avoidance of doubt, a new Workout Fee will become payable if and when a Mortgage Loan or Lease that ceased to be a Corrected Lease or Corrected Loan again becomes a Corrected Lease or Corrected Loan.

  • A copy of the bills, Income / Expense Comparison, Investment Report, Corrected Lease Agreement, Replats, and Amendment to Lease Agreements are attached hereto and made a part hereof.

  • CHRISTENBERRY, to approve the Corrected Lease Agreement from the District to Ruth Barnett to show correct acreage after making adjustment for the Southwestern Electric Power Company right-of-way which crosses her leaseback land; and that the President and Secretary are hereby authorized to execute same of behalf of the District.

  • Fannie Mae, aka Federal National Mortgage Association, Lot 3, Phase 5 (1.584 Acres), Eagle Point Copies of the Bills, Investment Report, New Leases, Corrected Lease Agreement, Re-plat Amendment, Amended and Restated Lease Agreements, 99-Year Extension Amendment and Terminations are attached hereto and made a part hereof.

  • The Special Servicing Fee with respect to any Specially Managed Lease shall cease to accrue if (i) such Specially Managed Lease is terminated and the related Mortgaged Property is sold or distributed to the holders of the Limited Partnership Interests or (ii) such Specially Managed Lease becomes a Corrected Lease.

  • The Special Servicing Fee with respect to any Specially Serviced Asset shall cease to accrue if such Specially Serviced Asset (i) is sold or exchanged for a Qualified Substitute Mortgaged Property or Qualified Substitute Mortgage Loan, as applicable or (ii) becomes a Corrected Lease or a Corrected Mortgage Loan or (iii) becomes a Liquidated Lease or liquidated Mortgage Loan, as applicable.


More Definitions of Corrected Lease

Corrected Lease. Any Specially Serviced Lease with respect to which, as of any date of determination, one or more of the following as are applicable shall have occurred with respect to each Specially Serviced Lease Trigger Event that previously occurred with respect to such Specially Serviced Lease: (i) with respect to the circumstances described in clause (a) of the definition of the term “Specially Serviced Lease”, the related Tenant has made three consecutive full and timely Monthly Lease Payments under the terms of such Lease (as such terms may be changed or modified in connection with a bankruptcy or similar proceeding involving the related Tenant or by reason of a modification, waiver or amendment granted or agreed to by the Special Servicer) or such Lease has been terminated and the related Mortgaged Property has been re-leased; (ii) with respect to the circumstances described in clause (b) of the definition of the term “Specially Serviced Lease”, such circumstances cease to exist in the good faith and reasonable judgment of the Special Servicer; (iii) with respect to the circumstances described in clause (c) of the definition of the term “Specially Serviced Lease”, the Special Servicer determines that the applicable Tenant likely will be able to make future Monthly Lease Payments; (iv) with respect to the circumstances described in clause (d) of the definition of the term “Specially Serviced Lease”, such default is cured; and (v) with respect to the circumstances described in clause (e) of the definition of the term “Specially Serviced Lease”, such proceedings are terminated. 6 US-DOCS\ 96557504.7 102826315.7
Sample 1Sample 2

Related to Corrected Lease

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Material Lease has the meaning set forth in Section 3.17(a).

  • Landlord’s Statement means an instrument or instruments containing a comparison of any increase or decrease in the Rent for the preceding Comparison Year pursuant to the provisions of this Article 28.

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

  • Material Leased Real Property has the meaning set forth in Section 2.14.

  • Liquidated Lease means a Defaulted Lease that is terminated and charged off by the Servicer prior to its Maturity Date.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • special lease means a special lease or license to be granted in terms of this Agreement under the Ratifying Act the Land Act or the Xxxxxxx Xxx 0000 and includes any renewal thereof; “this Agreement” “hereof” and “hereunder” include this Agreement as from time to time added to varied or amended;

  • 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:

  • 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).

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

  • Base Lease means the Base Lease Agreement delivered concurrently with this Lease between the Company and the Issuer.

  • Master Lease This Schedule is issued pursuant to the Lease identified on page 1 of this Schedule. All of the terms and conditions of the Lease are incorporated in and made a part of this Schedule as if they were expressly set forth in this Schedule. The parties hereby reaffirm all of the terms and conditions of the Lease (including, without limitation, the representations and warranties set forth in Section 8) except as modified herein by this Schedule. This Schedule may not be amended or rescinded except by a writing signed by both parties. CHEMDEX CORPORATION COMDISCO, INC. AS LESSEE AS LESSOR By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxx ------------------- --------------------- Title: CEO Title: SR VP ----------------- ------------------- Date: Date: ----------------- ------------------- EXHIBIT 1 SUMMARY EQUIPMENT SCHEDULE -------------------------- This Summary Equipment Schedule dated XXXX is executed pursuant to Equipment Schedule No. X to the Master Lease Agreement dated XXXX between Comdisco, Inc. ("Lessor") and XXXX ("Lessee"). All of the terms, conditions, representations and warranties of the Master Lease Agreement and Equipment Schedule No. X are incorporated herein and made a part hereof, and this Summary Equipment Schedule constitutes a Schedule for the Equipment on the attached invoices.

  • Defaulted Lease means any Lease that (a) by its terms, is delinquent more than 120 days, (b) by its terms is delinquent less than 120 days and the Servicer has (i) determined, in accordance with the Credit and Collection Policy, that eventual payment in full is unlikely or (ii) repossessed the related Leased Vehicle (including, but not limited to, as a result of the Lessee’s failure to maintain insurance coverage required by the Lease, the failure of the Lessee to timely or properly perform any obligation under the Lease, or any other act by the Lessee constituting a default under applicable law), or (c) the Servicer has received notification that the related Lessee is subject to bankruptcy proceedings under Chapter 13 under the Bankruptcy Code.

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

  • Original Lease shall have the meaning given such term in the recitals to this Agreement.

  • 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.

  • Head Lease or “Superior Lease” means the document which sets out the promises the Landlord has made to the Superior Landlord. The promises contained in this Head Lease will bind the Tenant if he has prior knowledge of those promises.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

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

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

  • New Lease Any lease of REO Property entered into on behalf of REMIC I, including any lease renewed or extended on behalf of REMIC I, if REMIC I has the right to renegotiate the terms of such lease.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • 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.

  • Permitted Lessee means the lessee under a Permitted Lease.