Facility Operating Leases definition

Facility Operating Leases means each lease or master lease with respect to any Borrowing Base Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Borrowing Base Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income for such Borrowing Base 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; as the foregoing may be amended and extended from time to time after the Closing Date in accordance with and subject to the terms of this Agreement and the Facility Operating Lease SNDA applicable thereto.
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Facility Operating Leases means each lease or master lease with respect to any Borrowing Base Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Borrowing Base Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income for such Borrowing Base 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; as the foregoing may be amended and extended from time to time after the Closing Date in accordance with and subject to the terms of this Agreement and the Facility Operating Lease Subordination applicable thereto.
Sample 1
Facility Operating Leases means each lease or master lease with respect to any Real Property Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is substantially a triple net lease such that such Eligible 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 for such Real Property Asset (before non-cash items) equals the base rent paid thereunder, as the foregoing may be amended and extended from time to time after the Closing Date in accordance with and subject to the terms of this Agreement and, if required, the Facility Operating Lease SNDA applicable thereto.
Sample 1

Examples of Facility Operating Leases in a sentence

  • The Borrowers shall not, without the prior written consent of the Required Lenders enter into any material amendment or modification or cancel or terminate any Material Contract (subject to the provisions of this Section 7.08 with respect to Facility Operating Leases) prior to its stated maturity.

  • Fourth Amendment to Master Lease dated 5/12/2011 AB12 Master Tenant, L.L.C. 8/31/2018 N/A Site No. Real Property Asset Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Facility Operating Lease Termination Date Ground Leases 24 0000 Xxxxx Xxxxxx, Lakeport, CA California Aviv, L.L.C. 1.

  • Third Amendment to Sublease dated 5/1/2012 Xxxxx Health Systems Columbus, LLC 7/31/2011 N/A Site No. Real Property Asset Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Facility Operating Lease Termination Date Ground Leases 162 0000 Xxxxxx Xx, Xxxxx, WI Chippewa Valley, L.L.C. 1.

  • Unconditional Guaranty of Lease dated 10/29/2010 SunBridge Healthcare Corporation 12/31/2020 N/A Facility Operating Site Real Property Asset Lease No. Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Termination Date Ground Leases 62 000 Xxxxx Xx, Xxxxx Xxxxxxx, XX Massachusetts Nursing Homes, L.L.C. 1.

  • Unconditional Guaranty of Lease dated 10/29/2010 SunBridge Healthcare Corporation 12/31/2020 N/A Facility Operating Site Real Property Asset Lease No. Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Termination Date Ground Leases 60 000 Xxxxx Xx, Xxxxxxxx, XX Massachusetts Nursing Homes, L.L.C. 1.

  • Fourth Amendment to Master Lease dated 6/1/2012 Benchmark West Missouri Healthcare, LLC 6/30/2020 N/A Site No. Real Property Asset Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Facility Operating Lease Termination Date Ground Leases 75 0000 Xxxxxxxxx Xxxxx Xx, Xxx’s Summit, MO Missouri Regency Associates, L.L.C. 1.

  • Second Amendment to Master Lease dated 9/29/2010 AB12 Master Tenant, L.L.C. 8/31/2018 N/A Site No. Real Property Asset Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Facility Operating Lease Termination Date Ground Leases 48 0000 00xx Xx, Xxxxxxxx, XX Highland Leasehold, L.L.C. 1.

  • First Amendment to Lease dated 12/29/2011 National Mentor Healthcare, LLC 12/31/2021 N/A Site No. Real Property Asset Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Facility Operating Lease Termination Date Ground Leases 199 000 Xxxx Xxxxxxx Xxxxx Xxxx, Xx Xxxxx, XX 00000 Southern California Nevada, L.L.C. 1.

  • Unconditional Guaranty of Lease dated 12/29/05 Woodland Health, LLC 2/28/2018 N/A Facility Operating Site Real Property Asset Lease No. Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Termination Date Ground Leases 9 0000 Xxxx Xxxxxx Dr, North Little Rock, AR Northridge Arkansas, L.L.C. 1.

  • Sixth Amendment to Lease dated 10/26/2010 Wyngate Nursing Center 9/30/2040 N/A Site No. Real Property Asset Address Borrower/Owner1 Facility Operating Leases Eligible Tenant2 Facility Operating Lease Termination Date Ground Leases 31 000 X Xxxxxxxxxx Xxx, Xxxxx Xxx, XX Santa Xxx-Xxxxxxxx, L.L.C.* 1.


More Definitions of Facility Operating Leases

Facility Operating Leases means each lease or master lease with respect to any Borrowing Base Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Borrowing Base Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income for such Borrowing Base 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; as the foregoing may be amended and extended from time to time after
Sample 1

Related to Facility Operating Leases

  • 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.

  • 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.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Facility Leases means agreements for the lease by the Company or any of its Subsidiaries or Joint Ventures of real estate utilized as a vehicle parking facility and/or for ancillary parking and transportation services.

  • Property Management Agreement means any Property Management Agreement between the Company and the Property Manager.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Non-Financing Lease Obligation means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Financing Lease Obligation.

  • Consolidated Lease Expense for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries for such period with respect to leases of real and personal property, determined on a consolidated basis in accordance with GAAP.

  • Secure facility or "detention home" means a local, regional or state public or private locked

  • 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.

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

  • Mortgage Borrower shall have the meaning set forth in the Recitals to this Agreement.

  • Solar PV Project means the solar Photo Voltaic Power project that uses sunlight for direct conversion into electricity through Photo Voltaic technology.

  • Hotel Property for any hotel means the Real Property and the Personal Property for such hotel.

  • Project Debt means Indebtedness of one or more Project Subsidiaries incurred for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties; provided that the Company is not liable with respect to such Indebtedness except to the extent of a non-recourse pledge of equity interests in one or more Project Subsidiaries.

  • 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.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Subsidiary Loan Agreement means the agreement to be entered into between the Borrower and ECTEL pursuant to Section 3.01(b) of this Agreement, as the same may be amended from time to time; and such term includes all schedules to the Subsidiary Loan Agreement;

  • Subsidiary Loan Agreements means the agreements to be entered into pursuant to Section 3.01 (b) of this Agreement, as the same may be amended from time to time, and such term includes all schedules to the Subsidiary Loan Agreements;

  • Project financing gap means the part of the total project cost,

  • Financeable Costs means the amount of expenditure for an Improvement which has been duly authorized by action of the governing body of the Issuer to be financed by general obligation bonds, less: