Leasehold Estate Only definition

Leasehold Estate Only. With respect to the Washington State Attorney General's Office Building Mortgage Loan, the Ground Lease does not provide that such Ground Lease may not be amended or modified without the prior consent of the mortgagee under such Mortgage Loan, and any such action without such consent is not binding on such mortgagee, its successors or assigns. With respect to the All American Self Storage Mortgage Loan, the Borrower's leasehold interest is subordinate to a fee mortgage granted by the Ground Lessor to its secured lender (the "Ground Lessor's Lender"), but Ground Lessor's Lender and Borrower have entered into a non-disturbance agreement that provides, among other things, that so long as Borrower, as tenant, is not in default in the payment of rent or in its performance under the Ground Lease, then the Ground Lessor's Lender will not (i) interfere with the Borrower's possession of the Mortgaged Property, (ii) disturb, affect or impair Borrower's occupancy of the Mortgaged Property, (iii) name or join Borrower, or any leasehold mortgagee of the Borrower, in any proceeding brought by the Ground Lessor's Lender to enforce its rights in the event of a default under the Ground Lessor's loan documents, and (iv) upon any foreclosure by Ground Lessor's Lender, Ground Lessor's Lender and Borrower have agreed that upon Borrower's attornment to Ground Lessor's Lender, Borrower will remain in possession of the Mortgaged Property for the then remaining balance of the term of the Ground Lease and any extensions and renewals. Also, upon any such foreclosure, Borrower, or any leasehold mortgagee of Borrower, shall have the same remedies against Ground Lessor's Lender for Ground Lessor's Lender's breach, as it would have had against Ground Lessor under the Ground Lease.
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Leasehold Estate Only. With respect to the Guardian Self Storage Center Mortgage Loan:
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Examples of Leasehold Estate Only in a sentence

  • Exception to representation 18- Leasehold Estate Only ID# Mortgage Loan(s) Description of Exception -------------------------------------------------------------------------------- 55010 S'Ville and Deville Apts The ground lease does not contain an express provision providing that "it shall remain superior to any mortgage or other lien upon the related fee interest".

Related to Leasehold Estate Only

  • 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:

  • Leased Properties has the meaning set forth in Section 3.1(n)(ii).

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Leasehold of any Person shall mean all of the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • the Property means the Property more particularly described in Condition 2 of the Conditions of Sale (as defined in 1.6 below);

  • the Land means the land on which the development would be carried out or, in relation to development already carried out, has been carried out;

  • Personal Property means any machinery, equipment, tools, vehicles, furniture, leasehold improvements, office equipment, plant, parts and other tangible personal property.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Note Mortgage and/or an ABL Mortgage.

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

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.

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

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Personalty means all of the following:

  • Leasehold Interests means all of each Borrower’s right, title and interest in and to, and as lessee, of the premises identified on Schedule 4.19(A) hereto.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.11(c).

  • Leaseholder means a grantee or a person or other legal entity holding a valid lease or licence of occupation with the federal Crown for the use or occupation of land in Jasper National Park, and shall mean Canadian National Railway in respect of lots or land parcels held by Canadian National Railway, and shall mean Jasper National Park of Canada in respect to lots or land parcels held by the Crown;

  • Leaseholds of any Person means all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • State property means any building, land, or other real property owned, leased, or occupied by any department, agency, or instrumentality wholly owned by the State, unless, with respect to any building, land, or other real property leased or rented by the State, the lease or rental agreement shall prohibit the establishment of such vending facilities.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Leasehold Mortgage means any leasehold deed of trust, mortgage, deed to secure debt, assignment of leases and rents, assignment, security agreement, or other security document securing financing from a lender of Tenant and encumbering Tenant’s leasehold interest in any Demised Property.

  • Real Property means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned or leased by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.