Ground Leasehold Estate definition

Ground Leasehold Estate means, with respect to a parcel of land, the ground leasehold estate in such land, including, without limitation, all of the land in respect of such Property and any interest of the Applicable Party in any adjoining parcel or parcels that may be needed for such parcel to be in compliance with applicable Law or applicable Leases.
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Ground Leasehold Estate shall have the meaning assigned to such term in Section 2.1[(b)] hereof.
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Ground Leasehold Estate means the leasehold estate created by the Ground Lease in the applicable Property.
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Examples of Ground Leasehold Estate in a sentence

  • Seller holds the entire Ground Leasehold Estate, free and clear of any claims, liens, encumbrances and restrictions of any kind, other than the Permitted Title Exceptions.

  • Seller shall cooperate fully with Buyer as necessary to enable Buyer, at Buyer's cost, unless otherwise specified herein, to procure and to maintain all licenses, permits, or authorizations (including, without limitation, any liquor licenses which are required to be held in the name of the fee owner or ground lessee of the Real Property) necessary for the ownership of the Ground Leasehold Estate and/or other interests in the Real Property or the Improvements contemplated to be conveyed to Buyer hereunder.

  • A commitment for the Title Policy covering the Land and Improvements issued by the Title Company in favor of Buyer, or its nominee, in the full amount of the Acquisition Price, showing Ground Lessor as fee simple title holder of the Land and showing Seller as the holder of the Ground Leasehold Estate.

  • All loan agreements, notes, mortgages, deeds of trust, assignments, guarantees, indemnitees and other instruments evidencing, securing, guarantying or otherwise relating to any mortgage or secured financing encumbering the Ground Leasehold Estate and/or Seller's right, title and interest in and to the Real Property.

  • On the Closing Date, Seller shall cause the Title Company to issue the Title Policy (or a "marked-up" title commitment unconditionally committing the Title Company to issue such Title Policy) to Buyer, pursuant to and in accordance with the Title Commitment, insuring the Ground Leasehold Estate in Buyer as of the Closing Date, subject only to the Permitted Title Exceptions and such other exceptions as Buyer may approve pursuant to clause (ii) above.

  • Grantor owns good, indefeasible and) insurable fee simple title to the Land and the Improvements and good, indefeasible and insurable leasehold title to the Ground Leasehold Estate, subject only to the Permitted Encumbrances.

  • It is the intention of the parties hereto that, so far as may be permitted by law, all of the foregoing, whether now owned or hereafter acquired by the Grantor, affixed, attached or annexed to the Land Parcels or relating to the Ground Leasehold Estate shall be and remain or become and constitute a part of the Trust Estate and the security covered by and subject to the lien of this Mortgage.

  • If the Ground Lease is cancelled or terminated by reason of an Event of Default (as defined in the Ground Lease) that Beneficiary was unable to cure (following a good faith effort to so cure), then, if Beneficiary or its nominee shall acquire an interest in any new lease of the Ground Leasehold Estate following such Event of Default, Grantor shall have no right, title or interest in or to the new lease or the leasehold estate created by such new lease.

  • Collectively, the Ground Leasehold Estate, the Personal Property, the Licenses and Permits, the Trade Names and Trademarks, the Warranties and Seller's interest in and to the balance of the Real Property and all tangible and intangible assets arising out of or relating to the foregoing (excluding, however, the Lessee Property described herein).

  • To the extent required under the applicable Ground Leases, each Ground Lessor shall consent to either the transfer of the Ground Leasehold Estate or the transfer of the Equity Interests in the tenant under the applicable Ground Lease, and to the sublease of the relevant Property to the Operating Lessee (the “Ground Lessor Consent”).


More Definitions of Ground Leasehold Estate

Ground Leasehold Estate means all of Tenant's rights and interests under this Ground Lease. "Registry of Deeds" shall mean the land records office or offices in which the deed of the Premises is recorded, as identified on Exhibit A. Landlord represents and warrants that Landlord has good and clear record and marketable title to the Premises, subject only to encumbrances identified on Exhibit A. Landlord covenants and agrees not to grant or permit or suffer to attach to the Premises any easement, restriction, lien or other encumbrance affecting the title to the Premises during the Term of this Ground Lease other than restrictions and other encumbrances in the name of Landlord requested by Tenant. Landlord shall have thirty (30) days to bond off or otherwise discharge any encumbrance suffered in violation of the preceding sentence. Tenant accepts the Premises "as is" and in their present condition. Tenant hereby acknowledging that Tenant has not been influenced to enter into this Ground Lease by, nor has Tenant relied upon, any warranties and representations of Landlord concerning the physical condition of the Premises, except as follows:
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Ground Leasehold Estate means, with respect to a parcel of land, the ground leasehold estate in such land, including, without limitation, all of the land that constitutes a part of those Properties and any interest of the Applicable Party in any adjoining parcel or parcels that may be needed for such parcel to be in compliance with applicable Law or applicable Leases.
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Ground Leasehold Estate has the meaning set forth in Section 1.18 hereof.
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Ground Leasehold Estate. As defined in the recitals hereof.
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Related to Ground Leasehold Estate

  • Leasehold Estate means Borrower’s interest in the Land and any other real property leased by Borrower pursuant to the Ground Lease, if applicable, including all of the following:

  • 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.

  • 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:

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

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

  • Leased Properties have the meaning set forth in Section 3.16 herein.

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

  • Leasehold Property means any leasehold interest of any Loan Party as lessee under any lease of real property.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 2 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Leasehold Interests means all of each Borrower’s right, title and interest in and to, and as lessee, of the premises identified on Schedule 4.19(A) hereto.

  • 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.

  • Leaseholder means a grantee or a person or other legal entity holding a valid lease or licence of occupation with the federal Crown for the use or occupation of land in Jasper National Park, and shall mean Canadian National Railway in respect of lots or land parcels held by Canadian National Railway, and shall mean Jasper National Park of Canada in respect to lots or land parcels held by the Crown;

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

  • Real Property means any estates or interests in real property now owned or hereafter acquired by any Grantor and the improvements thereto.

  • Mortgaged Real Property means each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Real Property Interests means all interests in Owned Real Property and Leased Real Property, including fee estates, leaseholds and subleaseholds, purchase options, easements, licenses, rights to access, and rights of way, and all buildings and other improvements thereon and appurtenant thereto, owned or held by Sellers that are used in the business or operations of the Stations, together with any additions, substitutions and replacements thereof and thereto between the date of this Agreement and the Closing Date, but excluding the Excluded Real Property Interests.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • 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.

  • Company Leased Real Property shall have the meaning set forth in Section 3.15(b).

  • Leasehold of any Person shall mean all of the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • 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).

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

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Estate in Real Property A fee simple estate in a parcel of land.

  • Leaseholds of any Person means all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.