Exchange Fee Titleholder definition

Exchange Fee Titleholder means the entity which is the owner of a Property pursuant to an exchange that qualifies, qualified, or is intended to qualify, as a reverse exchange under Section 1031 of the Code, which Property is master leased to a Subsidiary of Borrower during the period before the exchange is either completed or fails.
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Exchange Fee Titleholder means the entity which is the owner of an Asset pursuant to an exchange that qualifies, qualified, or is intended to qualify, as an exchange under Section 1031 of the Code, which Asset is master leased to a Subsidiary of Borrower during the period before the exchange is either completed or fails.
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Examples of Exchange Fee Titleholder in a sentence

  • If the Borrower designates a Reverse 1031 Exchange Property that is owned by an Exchange Fee Titleholder to be included as an Unencumbered Pool Asset, then the Subsidiary of the Borrower that is master leasing such Reverse 1031 Exchange Property shall execute and deliver to Agent a joinder to the Subsidiary NAI-5000431466v13 Guaranty, and such Subsidiary shall thereby become a Subsidiary Guarantor hereunder.

  • In addition, once the Company or the Trust receives Investment Grade Ratings from two of S & P, Moody’s or ▇▇▇▇▇, the Subsidiary or master lessee if such property is owned by an Exchange Fee Titleholder owning any Unencumbered Property shall no longer be required to be a Subsidiary Guarantor unless such entity has outstanding recourse indebtedness.

  • A Subsidiary that became a party to the Subsidiary Guaranty because it was master leasing a Property owned by an Exchange Fee Titleholder shall be released in accordance with Section 6.12 upon delivery of a joinder to the Subsidiary Guaranty by the Exchange Fee Titleholder once it becomes a Subsidiary of the Company, or an election by the Company to cause such Property to cease to be an Unencumbered Property in accordance with the terms of this Agreement.

  • If the Company designates a Property that is owned by an Exchange Fee Titleholder to be included as an Unencumbered Property, then the Subsidiary of the Company that is master leasing such Property shall execute a joinder to the Subsidiary Guaranty and shall be a Subsidiary Guarantor during the period of time that the exchange is pending.