Ground Sublessor definition
Examples of Ground Sublessor in a sentence
The Facility, Components, Replacement Components, all equipment at any time acquired by the Ground Sublessor and located on the Facility Site and each part thereof have been severed from the Facility Site and from title thereto, shall be considered as personal property, and even though attached or affixed to or installed upon the Facility Site, as the case may be, shall not be considered to become fixtures or a part of the Facility Site.
In order to secure the Notes, the Ground Sublessor will, by the Lease Indenture, assign and ▇▇▇▇▇ ▇ ▇▇▇▇ to the Lease Indenture Trustee in and to all of the Ground Sublessor's right, title and interest in, to and under the Site Lease, this Site Sublease and the Ground Interest (other than Excepted Payments and Excepted Rights).
The Ground Sublessor acknowledges that the Ground Sublessee shall have the right to sublease or assign the Ground Interest to a Person that is a sublessee or assignee of the Facility in accordance with Section 19 of the Facility Lease or Section 13.2 of the Participation Agreement.
This Site Sublease shall be effective on May 8, 2001, the date of execution and delivery by the Ground Sublessor and the Ground Sublessee.
The Ground Sublessor hereby subleases Ground Interest to the Ground Sublessee, upon the terms and conditions set forth herein, for the term and renewal terms described below, and the Ground Sublessee hereby subleases Ground Interest from the Ground Sublessor.
The Ground Sublessor and the Ground Sublessee understand and agree that (a) fee title to the Facility Site remains vested in the Ground Sublessee and, (b) this sublease of the Ground Interest is subject to the Permitted Encumbrances and (c) fee title to the Undivided Interest is vested in the Ground Sublessor.
To the extent that the Subdivision cannot be obtained under this Section 4.6 or Section 2.8(b), the Ground Sublessor and the Ground Sublessee agree to cooperate with each other and to enter into other mutually agreeable arrangements, each acting reasonably and in good faith, with respect to the Facility Site, in light of the absence of the Subdivision.
Unless and until the Ground Sublessee shall have received written notice from the Lease Indenture Trustee that the Lien of the Lease Indenture has been fully released, the Lease Indenture Trustee under the Lease Indenture shall have the rights of the Ground Sublessor under this Site Sublease to the extent set forth in and subject in each case to the exceptions set forth in the Lease Indenture.
Upon the expiration or early termination of the Facility Lease in whole or with respect to the Unit Interest, the Site Sublease Term shall automatically terminate with respect to the Related Ground Interest without any action of the Ground Sublessor or any other Person.
Seller and Purchaser hereby agree to exercise commercially reasonable efforts and cooperate in good faith in order to obtain the Ground Sublessor Consent, including the language releasing Seller from its obligations under the Sears Ground Subleases from and after the Closing.