Encumbered Lease definition

Encumbered Lease means a Lease pledged by Seller to BALCAP pursuant to the Loan Agreement.
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Encumbered Lease means, individually, the lease described on Schedule 3 annexed hereto and made a part hereof, as each such lease may be amended, restated or otherwise modified from time to time.
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Examples of Encumbered Lease in a sentence

  • The Trustor hereby (A) assigns to the Beneficiary any and all of the Trustor's rights as lessee under Section 365(h) of the Bankruptcy Code or any Comparable Provisions, and (B) covenants that it shall not elect to treat the Encumbered Lease as terminated pursuant to Section 365(h) of the Bankruptcy Code without first obtaining the prior written consent of the Beneficiary, and (C) agrees that any such election by the Trustor without such consent shall be null and void.

  • Any capitalized terms not otherwise defined in this Agreement shall have the meaning ascribed to them first in the Hospital Lease and, if not therein defined, then in the Encumbered Lease.

  • Therefore, Grantor agrees that exercise of the Election in favor of preserxxxx xxe right to possession under the Encumbered Lease shall not be deemed to constitute a taking or sale of the Mortgaged Property by Beneficiary and shall not entitle Grantor to any credit against the Obligations secured by this Mortgage.

  • Grantor acknowledges that since the Encumbered Lease is a primary part of the security for the Obligations secured hereby, it is not anticipated that Beneficiary would consent to termination of the Encumbered Lease in connection with any such election and Beneficiary shall not under any circumstances be obliged to give such consent.

  • Beneficiary or said receiver may manage and operate any of the Mortgaged Property; make, cancel, enforce or modify Leases, Encumbered Lease or any other contract relating to the operation or management of any of the Mortgaged Property; obtain and evict tenants; establish or change the amount of any Rents; make additions, repairs, improvements and/or alterations to any of the Mortgaged Property; and perform any other acts which Beneficiary deems proper to protect the security of this Mortgage.

  • Grantor acknowledges and agrees that the foregoing assignment ox xxx Xlection and related rights is one of the rights which Beneficiary may use at any time in order to protect and preserve the other rights and interests of Beneficiary under this Mortgage, since exercise of the Election in favor of terminating the Encumbered Lease would constitute waste hereunder.

  • The user device reports WiFi-related measurements to the cellular net- work, which decides to activate or not the multi-connectivity option.

  • The Beneficiary shall have the right to proceed in its own name or in the name of the Trustor in respect of any claim, suit, action or proceeding relating to the rejection of the Encumbered Lease, including, without limitation, the right to file and prosecute, to the exclusion of the Trustor, any proofs of claim, complaints, motions, applications, notices and other documents, in any case in respect of the lessor thereunder under the Bankruptcy Code or any Comparable Provision.

  • This Mortgage constitutes a valid lien and mortgage on the Grantor's fee and leasehold interests in the Land, the Buildings and the Fixtures, including without limitation all of Grantor's right, title and interest in and to any Encumbered Lease, and a valid security agreement which creates a valid security interest in and to, and a valid assignment of, the Fixtures, Personalty, Leases and Rents, all in accordance with the terms hereof, in each case subject only to the Permitted Encumbrances.

  • Methodology As part of the Housing Element update process, City staff inventoried all vacant and underdeveloped lands within the City limits suitable for future residential development.

Related to Encumbered Lease

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

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

  • 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.

  • 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:

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Site Lease or “Lease” means the Site Lease of even date herewith, by and between the District and the Lessor together with any duly authorized and executed amendment thereto under which the District leases the Site to the Lessor.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • 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.

  • Encumbered license means a license that a physical therapy licensing board has limited in any way.

  • 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.

  • 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;

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • 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.

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

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property.

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

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • Real Property Leases means the leases, subleases, licenses or other agreements, including all amendments, extensions, renewals, guaranties or other agreements with respect thereto, under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy any real property.

  • 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.

  • 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.

  • Assumed Leases has the meaning set forth in Section 2.6(b).