Examples of Ground Lessee in a sentence
Subject to the provisions of Sections 6.08(c) and (d), Borrower will pay or cause to be paid (i) all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment, and (ii) if Borrower’s interest in the Mortgaged Property is as a Ground Lessee, then the monthly or other periodic installments of Ground Rent before the last date upon which each such installment may be made without penalty or interest charges being added.
A representative of Ground Lessee and of each Registered Mortgagee may attend any such meeting.
Upon the occurrence of any taking of all or any portion of the Property by eminent domain, Ground Lessee shall be entitled to receive proceeds attributable to the value of the Improvements and the value of Ground Lessee’s leasehold estate in the Property so taken.
Upon the occurrence of any casualty, Ground Lessee shall be entitled to receive all insurance proceeds.
Ground Lessee shall not be liable for any judgment with respect to any Obligation except for damages resulting from any inaccuracies in any of the representations by Ground Lessee under Section 11.01, and Ground Lessee joins in this Instrument for purposes of agreeing to the terms hereof and binding its interest in the Property.