Lease ROFO definition

Lease ROFO means the right of first offer granted by the REIT to CTC until the end of the lease term (including any exercised extension) with CTC which provides that if the REIT wishes to sell or otherwise dispose of a property or any interest therein, that was acquired from CTC or all or part of which is leased by CTC pursuant to a Canadian Tire Lease, the REIT shall first provide an offer to CTC setting out the price and material terms and conditions of the proposed sale or other disposition. CTC will have up to 30 days to either: (i) notify the REIT of its acceptance, in the form of an executed non-binding letter of intent; or (ii) provide the REIT with a minimum reserve price, which must be equal to or less than the REIT’s offer price, below which price the REIT will be unable to complete the proposed transaction.
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Examples of Lease ROFO in a sentence

  • University must exercise its Lease ROFO within ninety (90) days following receipt of the Lease ROFO Notice.

  • Except when otherwise noted in current Lease ROFO Notice, then Tenant Dwelling acknowledges that the vain is safe, insurance premiums and maintenance costs.

  • If the 5th Floor Expansion Right is properly exercised, then the parties shall execute an amendment to this Lease ROFO Space within fifteen (15) business days after Landlord provides Tenant with a document accurately reflecting the terms hereof.

  • If the County shall fail to timely perform any of its obligations as set forth herein or in the Lease Agreement, or if the County shall opt not to exercise the Lease ROFO or otherwise fails to close on the lease of the ROFO Premises pursuant to the terms of the Lease Agreement, the Lease ROFO shall lapse and Landlord shall be free to lease the ROFO Premises and such lease shall be free and clear of the Lease ROFO.

  • Any attempted assignment of the Lease ROFO shall be of no effect and the Lease ROFO shall become forever null and void as of the date of the purported assignment.

  • The Lease ROFO shall be subject and subordinate to any mortgage now, or hereafter placed, upon the Property and to any renewals, modifications, consolidations, replacements, extensions, and re-financings thereof.

  • If the County shall fail to exercise the Lease ROFO, after notice by Landlord of, as provided herein, such right shall be deemed to have lapsed and expired and shall be of no further force or effect.

  • The Lease ROFO may not be exercised by anyone other than the County.

  • The Lease ROFO Notice will describe in reasonable detail the terms upon which Landlord is willing to lease the Lease ROFO Space.

  • The Lease ROFO shall not apply to any foreclosure of Landlord's interest in the Property, and upon any such foreclosure, the Lease ROFO shall terminate and be of no further force and affect.32.

Related to Lease ROFO

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

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

  • car-share parking space means a parking space that is reserved and actively used for car-sharing;

  • 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:

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Parking Space The County shall attempt to provide adequate free parking facilities for employees within a reasonable distance of their work locations.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • 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.

  • Lease means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.

  • Urban renewal project means undertakings and activities of a municipality in an urban renewal area for the elimination and for the prevention of the development or spread of slums and blight, and may involve slum clearance and redevelopment in an urban renewal area, or rehabilitation or conservation in an urban renewal area, or any combination or part of them in accordance with an urban renewal plan. These undertakings and activities may include:

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • 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.

  • Residential Rental Unit means an area legally licensed or permitted for use as a living space containing a sleeping area, bathing and sanitation facilities and cooking facilities equipped with a cooking range, refrigerator and sink, all of which are separate and distinct from other Residential Rental Units. Reg. §§ 1.103-8(a) 8(i).