Ground Lease Asset definition

Ground Lease Asset. An Asset the Mortgaged Property for which is secured or supported in whole or in part by a Ground Lease.
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Ground Lease Asset. An Asset the Mortgaged Property for which is secured or supported in whole or in part by a Ground Lease. “REMIC”: A REMIC, as that term is used in the REMIC Provisions. “REMIC Provisions”: Sections 860A through 860G of the Code. “Servicing File:” A copy of the Underwriting Package and documents and records not otherwise required to be contained in the Underwriting Package that (i) relate to the origination and/or servicing and administration of the Whole Loans related to Senior Interests, (ii) are reasonably necessary for the ongoing administration and/or servicing of the related Whole Loans or for evidencing or enforcing any of the rights of the holder of the related Whole Loans or holders of interests therein and (iii) are in the possession or under the control of Seller, provided that Seller shall not be required to deliver any draft documents, privileged or other communications, credit underwriting, due diligence analyses or data or internal worksheets, memoranda, communications or evaluations. Sch. 1(b)-24
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Ground Lease Asset. An Asset the Mortgaged Property for which is secured or supported in whole or in part by a Ground Lease. “REMIC”: A REMIC, as that term is used in the REMIC Provisions. “REMIC Provisions”: Sections 860A through 860G of the Code. “Servicing File:” A copy of the Underwriting Package and documents and records not otherwise required to be contained in the Underwriting Package that (i) relate to the origination and/or servicing and administration of the Mezzanine Loan and underlying Whole Loan, (ii) are reasonably necessary for the ongoing administration and/or servicing of the Mezzanine Loan and underlying Whole Loan or for evidencing or enforcing any of the rights of the holder of the Mezzanine Loan and underlying Whole Loan or holders of interests therein and (iii) are in the possession or under the control of Seller, provided that Seller shall not be required to deliver any draft documents, privileged or other communications, credit underwriting, due diligence analyses or data or internal worksheets, memoranda, communications or evaluations. Sch. 1(c)-25 Schedule 2 NOTICE ADDRESS AND WIRE INSTRUCTIONS Address Information: Seller GP Commercial WF LLC 000 Xxxxxxx Xxxxxxx Suite 1400 Minnetonka, Minnesota 55305 Wire Instructions for Seller Agent: Xxxxx Fargo NA, San Xxxxxxxxx XXXXX: XXXXXX0X XXX#: 000-000-000 Acct#: 4129235511 A/C Name: TH Commercial Mortgage LLC Address Information: Buyer One Xxxxx Fargo Center 000 Xxxxx Xxxxxxx Xxxxxx MAC X0000-000, 00xx Xxxxx Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 Attention: Xxxxx Xxxxxxxxxx Wire Instructions for Buyer Xxxxx Fargo Bank, National Association ABA 000000000 Account Name: GP Commercial WF LLC Account # 4058067943 Sch. 2-1 EXHIBIT A FORM OF TRANSACTION REQUEST [ ] [ ], 20[__] Xxxxx Fargo Bank, National Association One Xxxxx Fargo Center 000 Xxxxx Xxxxxxx Xxxxxx MAC X0000-000, 00xx Xxxxx Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 Attention: Xxxxx Xxxxxxxxxx Re: Amended and Restated Master Repurchase Agreement and Securities Contract dated as of May 9, 2018 (as may be further amended, restated, supplemented or otherwise modified, the “Agreement”) between GP Commercial WF LLC (“Seller”) and Xxxxx Fargo Bank, National Association (“Buyer”) Ladies and Gentlemen: This is a Transaction Request (as this and other terms used but not defined herein are defined in the Agreement) delivered pursuant to Section 3.01 of the Agreement. Seller hereby requests that Buyer enter into a Transaction upon the proposed terms set forth below. Core Purchas...
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Examples of Ground Lease Asset in a sentence

  • L A U H A L A S H O P SReversion of Ground Lease Asset Return of 11% on repositioning capital spent andcurrent occupancy of 100%.A I K A H I P A R K S H O P P I N G C E N T E RReversion of Ground Lease Asset, Redevelopment of Aging Asset and GLA Expansion Estimated return of 9% on repositioning capital spend and current occupancy of 94.0%.


More Definitions of Ground Lease Asset

Ground Lease Asset means a Mortgage Asset or CMBS, the Underlying Mortgaged Property for which is secured or supported in whole or in part by a Ground Lease.
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Ground Lease Asset means the fee or other interest in Real Property that is or (while the Company or SAFE directly or indirectly owned all or a part of such fee or other interest) was subject to a Ground Lease together with the Lessor’s interest under such Ground Lease and, if appropriate in the context, the direct or indirect owner of all or a part of a Ground Lease Asset, which, for the avoidance of doubt, shall only include commercial Ground Lease Assets.
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Ground Lease Asset means the fee or other interest in real property that is or (while Portfolio Holdings or SAFE directly or indirectly owned all or a part of such fee or other interest) was subject to a Ground Lease together with the lessor’s interest under such Ground Lease and, if applicable, the direct or indirect owner of all or a part of a Ground Lease Asset, which, for the avoidance of doubt, only includes commercial Ground Lease Assets. • “Plan Asset Regulations” regulations of the United States Department of Labor found at Title 29, Section 2510.3-101 of the Code, including the amendment of such regulations by Section 3(42) of ERISA • “Merger,” “MSD Partners,” “NYSE,” “SEC” each have the meanings set forth in the Current Report on Form 8-K to which this exhibit relates. Purpose The purpose of Portfolio Holdings is to conduct any business, enterprise or activity permitted by or under the Delaware Limited Liability Company Act (the “Act”). Portfolio Holdings may conduct the business of owning, constructing, reconstructing, developing, redeveloping, altering, improving, maintaining, operating, disposing, financing, leasing, transferring, encumbering, conveying and exchanging any of its assets or properties, including interests in real property, fee interests in real property, interests in Ground Leases, among others. Additionally, Portfolio Holdings may invest in any securities and/or loans relating to its property. Portfolio Holdings may enter into any partnership, joint venture, business trust arrangement, limited liability company or other similar arrangement to engage in any business permitted by or under the Act, or to own interests in any entity engaged in any business permitted by or under the Act. Portfolio Holdings may also provide property and asset management and brokerage services. Additionally, it is specifically a purpose of Portfolio Holdings to be operated so as to qualify for taxation as a real estate investment trust (“REIT”) following a REIT Conversion (as defined below), and to own, directly or indirectly, one or more “taxable REIT subsidiaries” of SAFE or, following a REIT Conversion, of Portfolio Holdings. Portfolio Holdings’ business and arrangements and interests will be limited to and conducted in such a manner to permit SAFE and, following a REIT Conversion, Portfolio Holdings, to at all times qualify as a REIT unless SAFE or Portfolio Holdings, as applicable, determines to cease to qualify as a REIT or chosen not to attempt to qualify as a RE...
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Related to Ground Lease Asset

  • 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.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • 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.

  • 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.

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property, other than any such leasehold interest designated from time to time by Collateral Agent in its sole discretion as not being required to be included in the Collateral.

  • Leased Land means land which is the subject of a lease granted under section 60 or 93G; S. 3 def. of "lessee" amended by No. 39/1997 s. 4(2)(b).

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.11(c).

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Administrative Agent's reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Release Property shall have the meaning set forth in Section 2.6 hereof.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Real Estate Asset means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

  • Eligible Property means property beneficially owned by a person or entity other than the Fund and held in a bank account maintained by BNYM for or on behalf of the Fund, or property held in a Fund shareholder account, which is (x) subject to reporting or escheat under an Unclaimed Property Law, (y) of a nature or type or classification reasonably related to the services performed by BNYM under this Agreement (such as cash amounts representing non-negotiated dividend checks and shares in abandoned shareholder accounts), and (z) under the control of BNYM.

  • Real Property Asset means, at any time of determination, any interest then owned by any Loan Party in any real property.

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

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Lease Assignment has the meaning set forth in Section 3.6(d).

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

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

  • 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.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.