Ground Lease Subsidiary definition

Ground Lease Subsidiary shall have the meaning assigned to such term in the Mortgage Loan Agreement.
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Ground Lease Subsidiary means Tahoe Garage Propco, LLC, a Delaware limited liability company.
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Examples of Ground Lease Subsidiary in a sentence

  • Tahoe Propco, LLC is the owner of one hundred percent (100%) of the equity interests of Ground Lease Subsidiary; Ground Lease Subsidiary does not own any assets other than its interests in the Ground Lease and does not have any liabilities other than liabilities under the Ground Lease; Ground Lease Subsidiary does not engage in any business other than that related to its ownership of interests in the Ground Lease.

  • The Ground Lease may not be modified or amended (or voluntarily terminated or surrendered by Borrower or Ground Lease Subsidiary, as applicable) without the prior written consent of Lender, except for amendments to effect the changes described on Schedule XXVII hereto and any other changes reasonably approved by Lender in connection with the mortgaging of the ground leased property to Lender.

  • Borrower shall not Transfer any of its interests in Ground Lease Subsidiary without the prior written consent of Lender; Borrower shall not permit Ground Lease Subsidiary to own any assets other than its interests in the Ground Lease or to incur any liabilities other than liabilities under the Ground Lease; Borrower shall not permit Ground Lease Subsidiary to engage in any business other than that related to its ownership of interests in the Ground Lease.