Inverted Lease Tenant definition

Inverted Lease Tenant means the entity in an Inverted Lease Fund that leases Projects from the applicable Inverted Lease Opco.
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Inverted Lease Tenant means a Tax Equity Investor or a subsidiary thereof that leases a pool of PV Systems related to Solar Assets from an Inverted Lease Lessor and is the party (via assignment) to each Customer Agreement.
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Inverted Lease Tenant means a Tax Equity Investor or a subsidiary thereof that leases a pool of PV Systems related to Solar Assets from an Inverted Lease Lessor and is the party (via assignment) to each Customer Agreement. “Inverter” means, with respect to a PV System, the necessary device required to convert the variable direct electrical current (DC) output from a Solar Photovoltaic Panel into a utility frequency alternating electrical current (AC) that can be used by a Host Customer’s home or property, or that can be fed back into a utility electrical grid pursuant to an Interconnection Agreement. “ITC” means the investment tax credit under section 48 of the Code. “ITC Cash Sweep Fund” means a Tax Equity Fund whose Project Documents reduce, limit, suspend or otherwise restrict distributions to the Managing Member following the occurrence of an indemnity claim or non–payment of such an indemnity claim, in each case, in respect a failure of one or more Solar Assets to qualify for all or a portion of the ITCs claimed by such Tax Equity Fund (including a Tax Equity Fund that has entered into one or more Tax Credit Sale Contracts for which an indemnity is provided to the related Tax Credit Purchaser in respect a failure of one or more Solar Assets to qualify for all or a portion of the ITCs claimed by such Tax Equity Fund and sold to such Tax Credit Purchaser). “ITC Insurance Policy” means (i) the Initial ITC Insurance Policies and (ii) any other insurance policy in form and substance reasonably acceptable to the Administrative Agent and each of the excess insurance policies that reference any such insurance policy as the “Followed Policy” therein. “ITC Insurance Policy Proceeds” means any proceeds from an ITC Insurance Policy for which the Borrower or a Managing Member is a loss payee upon receipt thereof. “ITC Insurance Proceeds Account” has the meaning set forth in Section 8.2(A)(iv). “ITC Loss Indemnity” means, for a Tax Equity Fund, an indemnity from the Sponsor, Vivint Solar and/or the related Managing Member in favor of the related Tax Equity Investor or Tax Credit Purchaser for the loss of ITCs to the extent such loss results from certain events or breaches of representations, warranties or covenants specified in the applicable Project Documents. “Knowledge” means (a) as to any natural Person, the actual awareness of the fact, event or circumstance at issue, receipt of notification by proper delivery of such fact, event or circumstance, and with respect to any Person that...
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Examples of Inverted Lease Tenant in a sentence

  • Any such obligation to indemnify the Inverted Lease Tenant is guaranteed by Sponsor.

  • Opco’s obligation to indemnify the Inverted Lease Tenant, if any, will be limited to customary indemnities for breach of the Inverted Lease Master Lease or bad acts, standard tax indemnities (but not structure, including that the Inverted Lease Master Lease is a “true lease”) and environmental indemnities.

  • The related PV System is owned by the related Tax Equity Opco or Wholly-Owned Subsidiary, as applicable, and the related Customer Agreement has been assigned to the related Tax Equity Opco, the Inverted Lease Tenant or Wholly-Owned Subsidiary, as applicable, in each case free and clear of Liens other than Permitted Liens.

  • No Guarantor shall have been removed as managing member under the Limited Liability Company Agreement for any Fund or as manager of any Inverted Lease Tenant, nor has any Guarantor given or received written notice of an action, claim or threat of such removal.

  • The SSWR Subcommittee recommends ORD consider expanding and accelerating its efforts to address perfluorinated alkyl substances (PFAS).

  • Not only have few staff had experience in prisons prior to NAVCONBRIG Miramar, but the overall staff experience level, including guards and support staff, within the facility is limited by military rotations.

  • If the Class A FMV for an Inverted Lease Tenant projected by an appraiser exceeds the amount assumed under the then-current Tax Equity Fund Model for that Inverted Lease Tenant by more than 5% then the Required Inverted Lease Reserve Amount shall be updated to reflect such higher amount as the Class A FMV for the applicable Inverted Lease Tenant.

  • No Guarantor shall have been removed as managing member under the Limited Liability Company Agreement for any Fund or as manager of any Inverted Lease Tenant, nor shall have any Guarantor given or received written notice of an action, claim or threat of such removal.

  • The related PV System is owned by the related Tax Equity Opco or Wholly-Owned Subsidiary, as applicable, and the related Customer Agreement has been assigned to the related Tax Equity Opco, the Inverted Lease Tenant or Wholly- Owned Subsidiary, as applicable, in each case free and clear of Liens other than Permitted Liens.


More Definitions of Inverted Lease Tenant

Inverted Lease Tenant means each entity designated as an “Inverted Lease Tenant” by the Borrower on Schedule 4.03(g). [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION.
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Related to Inverted Lease Tenant

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

  • the Tenant means the party(ies) named on the tenancy agreement as the tenant of The Property.

  • Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • 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).

  • Landlord shall have the meaning given such term in the preambles to this Agreement and shall also include their respective permitted successors and assigns.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Permitted Lessee means any Person to whom Company is permitted to lease the Airframe or any Engine pursuant to Section 7.02(a) of the Indenture and is a party to a Lease.

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • Anchor Tenant means, with respect to a Community Renewable Energy Generation Project, the non-End Use Customer subscriber designated by Seller as such under its SFA application.” The following is added as Section 1.3.3:

  • Leased space means individual storage space at a self-service storage facility which is rented to an occupant pursuant to a rental agreement.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Sublessee means any party to whom Lessee grants the right to possess all or any portion of the Premises according to a Sublease.

  • Master Lease means that certain [Master Lease title], relating to the leasing of, inter alia, the Healthcare Facility by Borrower to Master Tenant.

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • Major Tenant means a tenant of a Loan Party under a lease of Property which entitles it to occupy 15,000 square feet or more of the net rentable area of such Property.

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

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

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • the Premises means the building or part of the building booked and referred to in the contract

  • Superior Landlord means and includes people or persons to whom the ownership or interest in the Leasehold Property might revert in the fullness of time.

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • the Landlord means the party named on the first page of this Agreement and any successor and any person who has an interest as heritable proprietor in The Property, even if not named in this Agreement. The Landlord agrees to inform The Agent, in writing, of any changes to ownership of The Property, contact telephone numbers, postal or e-mail addresses as soon as possible and in any event within 7 days of the change.

  • Sublessor means one who conveys real property by sublease."