Individual Property Sublease definition

Individual Property Sublease means the Sublease of an Individual Property from Master Lessee to the subsidiary of Master Lessee that operates the Individual Property (the “Individual Property Sublessee”. There shall be an Individual Property Sublease for each Individual Property.
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Examples of Individual Property Sublease in a sentence

  • For avoidance of doubt, the foregoing shall not prohibit (i) the Master Lessee from granting a Lien to Mortgage Borrower on portions of the Excluded Personal Property, subject to the Assigned Landlord Lien, or (ii) the Mortgage Borrower, Master Lessee or any Tenant under any Individual Property Sublease or Sublease permitted under Section 8.8.2 from entering into any Permitted Encumbrance.

  • Mezzanine Borrower represents, warrants, and covenants that each Individual Property shall be leased by Mortgage Borrower to Master Lessee pursuant to the Master Lease, and substantially occupied by a wholly-owned subsidiary of Master Lessee under an Individual Property Sublease, and with respect to the retail components of the Individual Properties, occupied in part by other Tenants under the applicable Subleases.

  • All security or other deposits of Tenants of the Property shall be treated as trust funds and shall not be commingled with any other funds of Mortgage Borrower, Master Lessee or Tenant under an Individual Property Sublease, as appropriate, and such deposits shall be deposited, upon receipt of the same in a separate trust account maintained by Mortgage Borrower, Master Lessee or Tenant under an Individual Property Sublease, as appropriate, expressly for such purpose.

  • Mezzanine Lender shall have received a copy of the duly executed Master Lease and each Individual Property Sublease, each in form consistent with the forms attached hereto (with respect to the Master Lease) or to the Purchase and Sale Agreement (with respect to the Individual Property Subleases) and otherwise reasonably acceptable to Mezzanine Lender and acceptable to the Rating Agencies and acceptable to the Title Company.

  • Within ten (10) Business Days after written request by Lender, Borrower, Master Lessee or Tenant under an Individual Property Sublease, as appropriate, shall furnish to Lender reasonably satisfactory evidence of compliance with this Section 8.8.5, together with a statement of all lease securities deposited by the Tenants and the location and account number of the account in which such security deposits are held.

  • PGW must receive a credit note for the Product or at the request of PGW a refund in full, within 5 working days.

  • For avoidance of doubt, the foregoing shall not prohibit (i) the Master Lessee from granting a Lien to Borrower on portions of the Excluded Personal Property, subject to the Assigned Landlord Lien, or (ii) the Borrower, Master Lessee or any Tenant under any Individual Property Sublease or Sublease permitted under Section 8.8.2 from entering into any Permitted Encumbrance.

  • All security or other deposits of Tenants of the Property shall be treated as trust funds and shall not be commingled with any other funds of Borrower, Master Lessee or Tenant under an Individual Property Sublease, as appropriate, and such deposits shall be deposited, upon receipt of the same in a separate trust account maintained by Borrower, Master Lessee or Tenant under an Individual Property Sublease, as appropriate, expressly for such purpose.

  • Borrower represents, warrants, and covenants that each Individual Property shall be leased to Master Lessee pursuant to the Master Lease, and substantially occupied by a wholly-owned subsidiary of Master Lessee under an Individual Property Sublease, and with respect to the retail components of the Individual Properties, occupied in part by other Tenants under the applicable Subleases.

  • As of the date hereof, Mezzanine Borrower shall have caused to be delivered to GACC and JPMC a copy of the duly executed Master Lease and each Individual Property Sublease, each in form consistent with the forms attached to the Loan Agreement (Mortgage) (with respect to the Master Lease) or to the Purchase and Sale Agreement (with respect to the Individual Property Subleases) and otherwise reasonably acceptable to Mezzanine Lender.

Related to Individual Property Sublease

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

  • 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:

  • Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the “Property”.

  • 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.

  • Release Property has the meaning set forth in Section 2.5.

  • Parking space leasing data means the following government data on an application for, or lease of, a parking space: residence address, home telephone number, beginning and ending work hours, place of employment, location of parking space, and work telephone number.

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

  • 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.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

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

  • Condominium Project Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.

  • 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.

  • Landlord Consent and Estoppel means, with respect to any Leasehold Property, a letter, certificate or other instrument in writing from the lessor under the related lease, pursuant to which, among other things, the landlord consents to the granting of a Mortgage on such Leasehold Property by the Credit Party tenant, such Landlord Consent and Estoppel to be in form and substance acceptable to Collateral Agent in its reasonable discretion, but in any event sufficient for Collateral Agent to obtain a Title Policy with respect to such Mortgage.

  • 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.

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

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

  • 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.

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Notes Mortgage.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • 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.

  • 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:

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

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

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

  • Space Leases means any and all leases, subleases, lettings, licenses, concessions, operating agreements, management agreements, and all other agreements affecting the Trust Estate that Trustor has entered into, taken by assignment, taken subject to, or assumed, or has otherwise become bound by, now or in the future, that give any person the right to conduct its business on, or otherwise use, operate or occupy, all or any portion of the Site or Improvements and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Trust Estate to extract or remove natural resources of any kind, together with all amendments, extensions, and renewals of the foregoing entered into in compliance with this Deed of Trust, together with all rental, occupancy, service, maintenance or any other similar agreements pertaining to use or occupation of, or the rendering of services at the Site, the Improvements or any part thereof.