Credit Lease definition

Credit Lease. With respect to each Credit Lease Loan, the lease agreement between the Mortgagor as lessor and the Tenant as lessee of the related Mortgaged Property.
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Credit Lease means a bond type triple net lease to a Credit Tenant which occupies 100% of the related Mortgaged Property.
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Credit Lease. A lease of real property on a long-term net-lease basis to a Tenant whose long-term unsecured debt rating (or the long-term unsecured debt rating of the guarantor of its obligations under the related lease) is the basis on which the related Mortgage Loan Seller underwrote the related Mortgage Loan.
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Examples of Credit Lease in a sentence

  • The lease payments due under the related Credit Lease, together with any escrow payments held by the Seller or its designee, are equal to or greater than the payments due with respect to the related Mortgage Loan.

  • However, they must be tax credit-qualified and sign the Commission’s Tax Credit Lease Rider.

  • No Tenant under a Credit Lease Loan may exercise any termination right or offset or set-off right which shall be binding upon the related mortgagee without providing prior written notice of same to such mortgagee.

  • No material modification or amendment of any Credit Lease Loan shall be binding upon the related mortgagee without such mortgagee's prior written notice consent to such material modification or amendment, which consent may not be unreasonably unwithheld.

  • Each Tenant under each Credit Lease Loan is required to make all rental payments due under the applicable Credit Lease directly to a lock-box being maintained by or on behalf of the mortgagee.


More Definitions of Credit Lease

Credit Lease. A lease securing a Credit Lease Loan.
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Credit Lease shall have the meaning given to such term in clause (ii) of the definition of Eligible Loans.
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Credit Lease means a Triple Net Lease, a Double Net Lease or a bond-type lease to a tenant acceptable to the Agent that occupies and/or is master lessor to subtenants that occupy the related Property.
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Credit Lease. With respect to each Mortgage Loan and the related Mortgaged Property, the lease between the Mortgagor and the lessee thereunder with respect to such Mortgaged Property.
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Credit Lease means each bond-type net lease relating to a particular Property approved for origination hereunder.
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Credit Lease means a lease with an investment grade rated tenant on market terms for a term of at least five years.
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Credit Lease means a lease related to and securing a commercial mortgage loan that is dependent principally on the payment by the related tenant or guarantor, if any, of lease or rental payments and other payments due under the terms of such lease and therefore the performance of the related tenant.
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