Foreclosure Transferee definition

Foreclosure Transferee means any foreclosure purchaser or other transferee of Lessee’s interest under this Lease who acquires such interest at the sale conducted by virtue of, or otherwise in connection with, a foreclosure of any Leasehold Mortgage or any conveyance in lieu of such foreclosure.

Foreclosure Transferee means any foreclosure purchaser or other transferee of Xxxxxx’s interest under this Lease who acquires such interest at the sale conducted by virtue of, or otherwise in connection with, a foreclosure of any Leasehold Mortgage or any conveyance in lieu of such foreclosure.

Foreclosure Transferee has the meaning given such term in Section 4.02(f).

Examples of Foreclosure Transferee in a sentence

• Lessor will recognize any Foreclosure Transferee as a substitute Lessee under this Lease and will honor all rights and interest of such substitute Lessee as if the substitute Lessee was the initial Lessee under this Lease and such Foreclosure Transferee shall be bound by the terms and conditions of this Lease.

• Lessor’s consent will not be required for any transfer of Lessee’s interest under this Lease to a Foreclosure Transferee.

• Additionally, if the Foreclosure Transferee is a Qualified Mortgagee, such Qualified Mortgagee shall have the right to assign its interest under this Lease without the consent of Lessor and, upon such assignment, Lessor shall recognize the assignee as a substitute Lessee under this Lease and the Qualified Mortgagee shall be released of any further liability under the Lease.

• Additionally, if the Foreclosure Transferee is a Qualified Mortgagee, such Qualified Mortgagee shall have the right to assign its interest under this Lease without the consent of Lessor and, upon such assignment, Lessor shall recognizethe assignee as a substitute Lessee under this Lease and the Qualified Mortgagee shall be released of any further liability under the Lease.

• Lessor’s consent will not be required for any transfer of Xxxxxx’s interest under this Lease to a Foreclosure Transferee.

More Definitions of Foreclosure Transferee

Foreclosure Transferee means any successful bidder, purchaser, transferee or other assignee in a Foreclosure Transfer, including, without limitation, the Recognized Mortgagee (and any designee or nominee of the Recognized Mortgagee). From and after a Foreclosure Transfer, a Foreclosure Transferee shall be deemed to be the "Company" under this Agreement.

Foreclosure Transferee means any transferee (including without limitation an Encumbrance Holder) which acquires title to the entire leasehold estate under this Lease or to all of the Ownership Interests in Lessee pursuant to a Foreclosure Transfer. An "Equity Foreclosure Transferee" shall mean a Foreclosure Transferee whose acquired interest consists of all of the Ownership Interests in Lessee.

Foreclosure Transferee shall have the meaning set forth in Subsection 12.2.1.

Foreclosure Transferee. A transferee that meets all of the following requirements:

Foreclosure Transferee means any purchaser at a foreclosure sale or similar transaction under a Mortgage and any person or entity which acquires title to all or any portion of the Project Site in lieu of the foreclosure of a Mortgage, except for Developer or an Affiliate of Developer.

Foreclosure Transferee has the meaning provided in Section 10.6(b) of this Agreement "Former Police Department Facility" has the meaning provided in Section 2.1(A)(2) of this Agreement.

Foreclosure Transferee means a transferee who acquires the Lessee's interest in this Lease and the Development through the exercise of remedies (such as foreclosure or a deed in lieu of foreclosure) pursuant to Approved Loan Documents.