Lease Sweep Space definition

Lease Sweep Space means the space demised under the applicable Lease Sweep Lease.
Sample 1Sample 2Sample 3
Lease Sweep Space means the space demised under the applicable Sweep Lease. Subordinate and Mezzanine Debt. None Partial Release. Not permitted. Ground Lease. None. THE INFORMATION IN THIS STRUCTURAL AND COLLATERAL TERM SHEET IS NOT COMPLETE AND MAY BE AMENDED PRIOR TO THE TIME OF SALE. THIS TERM SHEET IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS NOT PERMITTED. Structural and Collateral Term Sheet BMO 2022-C2 No. 3 – KB Portfolio THE INFORMATION IN THIS STRUCTURAL AND COLLATERAL TERM SHEET IS NOT COMPLETE AND MAY BE AMENDED PRIOR TO THE TIME OF SALE. THIS TERM SHEET IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS NOT PERMITTED. Structural and Collateral Term Sheet BMO 2022-C2 No. 3 – KB Portfolio THE INFORMATION IN THIS STRUCTURAL AND COLLATERAL TERM SHEET IS NOT COMPLETE AND MAY BE AMENDED PRIOR TO THE TIME OF SALE. THIS TERM SHEET IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS NOT PERMITTED. Structural and Collateral Term Sheet BMO 2022-C2No. 3 – KB Portfolio Mortgage Loan InformationMortgage Loan Seller:KeyBankOriginal Principal Balance(1):$55,000,000Cut-off Date Principal Balance(1):$55,000,000% of IPB:7.8%Loan Purpose(2):AcquisitionBorrower:KB Diversified Healthcare 60, DSTBorrower Sponsor:Jeffrey A. PoriInterest Rate:5.06000%Note Date:5/19/2022Maturity Date:6/1/2032Interest-only Period:120 monthsOriginal Term:120 monthsOriginal Amortization Term:NoneAmortization Type:Interest OnlyCall Protection(3):L(25),D(92),O(3)Lockbox / Cash Management:Hard / SpringingAdditional Debt(1):YesAdditional Debt Balance(1):$25,000,000Additional Debt Type(1):Pari Passu Property InformationSingle Asset / Portfolio:PortfolioTitle:FeeProperty Type – Subtype:Various – VariousNet Rentable Area (SF):283,488Location:VariousYear Built / Renovated:Various / VariousOccupancy:92.8%Occupancy Date:Various4th Most Recent NOI (As of)(5):NAV3rd Most Recent NOI (As of)(5):NAV2nd Most Recent NOI (As of)(5):NAVMost Recent NOI (As of)(5):NAVUW Economic Occupancy:92.4%UW Revenues:$9,334,318UW Expenses:$2,610,997UW NOI:$6,723,321UW NCF:$6,666,623Appraised Value / Per SF(6):$139,000,000 / $490Appraisal Date:4/15/2022 Escrows and Reserves(4) InitialMonthlyInitial CapTaxes:$141,309$30,220N/AInsurance...
Sample 1
Lease Sweep Space means the space demised under the applicable Sweep Lease. Subordinate and Mezzanine Debt. None. Partial Release. The Reef Property is comprised of two full city blocks containing 9.11 acres. One block (the “West Block”) contains the office building portion of The Reef Property and a parking lot area and the other block (the “East Block”), which is located across the street from the West Block, contains an 11,150 square foot industrial building and a parking lot. The Reef Whole Loan permits the free release, without defeasance or prepayment, of either or both of the East Block and of an approximately 4.25 acre parcel (comprising a parking lot area) of the West Block (the “West Release Parcel”), provided that the following conditions, among others, are satisfied: (i) delivery of an updated survey, and, with respect to the West Release Parcel, a recorded, finalized parcel map that creates a legal subdivision of the West Release Parcel from the remainder of the West Block, (ii) to the extent there are shared facilities, access or parking, unless an easement of record already exists, an easement reasonably satisfactory to the lender pursuant to which the borrower will receive such easements as are reasonably required for the continued use and operation of the remaining The Reef Property (the “Remaining Property”), (iii) a date down of a legal memorandum previously provided to the lender stating that after the release the Remaining Property will be in compliance with certain legal requirements, (iv) in the event that parking as required by legal requirements is not located on the Remaining Property, parking agreements necessary for the borrower to provide the Remaining Property with sufficient parking as required by legal requirements, which parking agreements must be reasonably satisfactory to the lender, (v) delivery of an officer’s certificate from the borrower stating, among other things, that the release will not (1) adversely affect the rights of the lender under the loan documents with respect to the Remaining Property, (2) violate any document or instrument affecting the Remaining Property, or (3) adversely affect the use or operation of, or access to, the Remaining Property, and (vi) compliance with REMIC related conditions. Income from the release parcels was not underwritten, and the release parcels were excluded from the collateral that was covered in the appraisal. Ground Lease. None. THE INFORMATION IN THIS STRUCTURAL AND COLLATERAL TERM SHEET IS N...
Sample 1

Examples of Lease Sweep Space in a sentence

  • Borrower shall notify Lender (i) of receipt of any notice from any Tenant under a Lease Sweep Lease of its intention to discontinue its business at its Lease Sweep Space at the Property (or any material portion thereof) within five (5) Business Days after receipt from the applicable Tenant and (ii) of any default under a Lease Sweep Lease that continues beyond any applicable notice and cure periods, within five (5) Business Days after the expiration of such applicable notice and cure periods.


More Definitions of Lease Sweep Space

Lease Sweep Space means the space demised under the applicable Sweep Lease.
Sample 1

Related to Lease Sweep Space

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Leased space means a self−service storage unit or a space located within a self−service storage facility that a lessee is enti- tled to use for the storage of personal property on a self−service basis pursuant to a rental agreement and that is not rented or pro- vided to the lessee in conjunction with property for residential use by the lessee.

  • Open space means undeveloped land, a naturally landscaped area, or a formal or man-made landscaped area that provides a connective link or a buffer between other resources.

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and

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

  • 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.

  • 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).

  • 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 Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • Off-premises sign means a sign directing attention to a use, product, commodity or service not related to the premises upon which the sign is located.

  • Work space means that portion of the court’s facilities dedicated to each court reporter, including but not limited to actual space in the courtroom and any designated office space.

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • public open space means the securing of an area of a site at grade or street level which is acceptable to the City and is appropriately landscaped for the use and enjoyment of the public during reasonable hours.

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack, locker or bicycle stacker for the purpose of parking and securing bicycles, and:

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Customer Premises Equipment or "CPE" means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

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

  • Lease Area means the Lease Area as more particularly described in SCHEDULE C.

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

  • School premises means either of the following:

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

  • this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.

  • 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.

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • 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.