Lease Interests definition
Examples of Lease Interests in a sentence
The Credit Parties will not permit any Consolidated Party to enter into, assume or permit to exist any obligations for the payment of rental under Operating Leases (excluding Ground Lease Interests) which in the aggregate for all such Persons would exceed $1,000,000 in any fiscal year.
The Obligors have not granted any Lien with respect to the Leases or the Lease Interests other than the Security Interests and the Congress Junior Lease Interests Lien.
Subject to and in accordance with the terms of this Agreement, Seller desires to sell, transfer and otherwise assign to Purchaser certain Loan Interests and Lease Interests and Purchaser desires to purchase from Seller such Loan Interests and Lease Interests.
The consummation of the transactions contemplated hereby with respect to the Properties and Lease Interests, as applicable (the “Closing”) shall occur through customary escrow arrangements with the Escrow Agent.
To Seller's Knowledge, Seller's Agent has timely filed all Tax returns that such Agent was required to file with respect to the Loan Interests and Lease Interests and the related Other Property and all such Tax returns were correct and complete in all material respects.
Purchaser has such knowledge and experience in financial and business matters, including with respect to the ownership of loan and lease interests comparable to the Loan Interests and Lease Interests, that it is capable of evaluating the merits and risks of an investment in such Loan Interests and Lease Interests.
Notwithstanding the foregoing, the Transferee Entities shall have the right to terminate, without penalty or cost, any or all of the Lease Interests (or any portion thereof) at Closing or at any time upon thirty (30) days prior notice to the applicable lessor under such Lease Interest and each of the Conveying Parties shall cause each Lease Interest to be amended on or prior to the Closing to provide for such right of termination by the Transferee Entities.
Seller wishes to sell and assign to Purchaser all of its title and rights to and under the Loan Agreement, the California Note, the Michigan Note, the Lease Interests and the Exploration Agreement, and Purchaser wishes to purchase and assume from Seller, all of Seller’s title and rights to and under the Loan Agreement, the California Note, the Michigan Note, the Lease Interests and the Exploration Agreement.
BSED continues to own and hold the Lease Interests and continues to be a party to the Lease Documents and Zoot Properties hereby grants BSED an interest in the Real Property during the Term to the sole, limited and minimum extent necessary for BSED to do so.
Assignor and Assignee are parties to that certain Transaction Purchase and Sale Agreement, dated as of December 31, 2012 (the “Agreement”), pursuant to which, on the terms and subject to the conditions thereof, Assignor has agreed to sell to Assignee, and Assignee has agreed to purchase from Assignor, those certain Loan Interest(s) and/or Lease Interest(s) set forth on Schedule A attached hereto.