Double Net Lease definition

Double Net Lease. Any Credit Lease pursuant to which the related Tenant generally has a right to xxxxx, offset, withhold or delay rent under such Credit Lease or to terminate such Credit Lease arising from certain defined casualties, condemnation or a default on the part of the Mortgagor in the maintenance, repair, replacement or other obligations of the related Mortgaged Property.
Double Net Lease means a lease under which the tenant pays for all or substantially all of any two of the following for the Property: (i) real estate property taxes; (ii) property insurance; and (iii) operating expenses.
Double Net Lease means a Lease by a tenant of a Property under which the tenant is financially responsible for real estate taxes and insurance premiums relating to such Property and Landlord is responsible for maintenance of the roof and structure of the Property.

Examples of Double Net Lease in a sentence

  • Popular types of lease agreements used for restaurants/retail stores include: a Modified Gross Lease, Percentage Lease or a Net Lease (Double Net Lease or Triple Net Lease).

  • The different types of net leases include: Triple Net Lease – the tenant pays a portion of the property taxes, property insurance, and CAM Double Net Lease – the tenant pays a portion of the property taxes and property insurance Single Net Lease – the tenant pays a portion of the property taxes Modified Gross Lease A modified gross lease (or modified net lease) is a hybrid of gross and net leases.

  • Popular types of lease agreements used for industrial properties include: a Gross Lease, a Modified Gross Lease or a Net Lease (Double Net Lease or Triple Net Lease).

  • Popular types of lease agreements used for office space include: a Gross Lease, a Modified Gross Lease or a Net Lease (Double Net Lease or Triple Net Lease).

  • An edition of the SSM’s newsletter focused on home-base care workers, and was in the main also written by them.

  • Double Net Lease (NN): A double net lease requires the tenant to pay for the rent and utilities, as well as the property taxes and building insurance, but the landlord pays for the building’s structural maintenance expenses.

  • Double Net Lease A lease in which taxes and insurance expenses are included in the lease payment.

  • Double Net Lease: A double net lease requires the tenant to pay property taxes as well as insurance premiums in addition to rent.

  • Double Net Lease: Tenant pays rent plus property taxes and insurance.

  • Oracle Property Manager - TerminologyLease Types: Double Net: Lease defines which costs the Landlord pays and which costs the Tenant pays for maintenance and repairs.


More Definitions of Double Net Lease

Double Net Lease. Each Credit Lease identified as a Double Net Lease on the Mortgage Loan Schedule.
Double Net Lease means a lease by a tenant of a Property under which the tenant is financially responsible for real estate taxes and insurance premiums relating to such Property.

Related to Double Net Lease

  • 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.

  • 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.

  • 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.

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

  • Facility Lease means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and substance reasonably satisfactory to the Administrative Agent.

  • 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.

  • 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).

  • 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.

  • Urban renewal area means a slum area or a blighted area or a combination thereof which the municipality designates as appropriate for an urban renewal project.

  • Urban renewal project means undertakings and activities of a municipality in an urban renewal area for the elimination and for the prevention of the development or spread of slums and blight, and may involve slum clearance and redevelopment in an urban renewal area, or rehabilitation or conservation in an urban renewal area, or any combination or part of them in accordance with an urban renewal plan. These undertakings and activities may include:

  • Equipment Lease means a Contract for the lease of Equipment or for the purchase of Equipment under a conditional sales or title retention agreement.

  • Shopping Centre means a grouping of commercial retail outlets which have been designed, developed and managed as a unit by a single owner or group of owners or tenants located on the same lot or lots with a frontage not less than 45 metres and having common on-site parking;

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Fixed term tenancy means a tenancy that has a fixed term of existence, continuing to a

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • Operating Partnership Agreement means the Agreement of Limited Partnership of the Operating Partnership, as it may be amended, supplemented or restated from time to time.

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