Leasehold Parcel definition
Examples of Leasehold Parcel in a sentence
Borrower acknowledges and agrees that Administrative Agent shall be liable for the obligations of Borrower arising under the Ground Lease, as applicable, for only that period of time, if any, during which Administrative Agent is in possession of the Leasehold Parcel, as applicable, or has acquired, by foreclosure, power of sale or otherwise, and is holding, all of Borrower's right, title and interest in the leasehold estate created pursuant to the Ground Lease.
The Tenant shall have the right to register notice of any Leasehold Mortgage (and related security) on title to the Leasehold Parcel.
Borrower has good, marketable and insurable fee simple title to the real property comprising part of the Property (except for the Leasehold Parcel), good, marketable and insurable leasehold title to the Leasehold Parcel, and good title to the balance of the Property, free and clear of all Liens whatsoever except the Permitted Encumbrances, such other Liens as are permitted pursuant to the Loan Documents and the Liens created by the Loan Documents.
Without limitation of the foregoing, if Trustor hereafter should acquire the fee estate in the Leasehold Parcel or in any land or improvements comprising the same, or should acquire any interest or estate in the Leasehold Parcel or any component thereof that Trustor does not presently hold, then this Deed of Trust shall encumber and constitute a lien upon any and all of such interest or estate, without further act or instrument by Trustor or any third party.
Notwithstanding the foregoing, if the Ground Lease is for any reason whatsoever terminated prior to the natural expiration of its term, and if, pursuant to any provisions of the Ground Lease or otherwise, Grantee or its designee shall acquire from the Ground Lessor thereunder another lease of the Leasehold Parcel, Grantor shall have no right, title or interest in or to such other lease or the leasehold estate created thereby.
Cone, as Landlord in that certain Ground Lease dated as of October 24, 1994, (the "Ground Lease") with TBC Realty II Corporation, a Texas corporation, ("TBC"), as Tenant, leased to TBC certain real property in Guilford County, North Carolina, (the "Leasehold Parcel") described on Exhibit A-1 hereto.
Unless Grantee shall otherwise expressly consent in writing, the fee title to the Leasehold Parcel and the leasehold estate in the Leasehold Parcel shall not merge but shall always remain separate and distinct, notwithstanding the union of said estates either in the lessor or in the lessee under the Timber Lease, or in a third party by purchase or otherwise.
The right of pedestrian and vehicular ingress and egress to and from the Leasehold Parcel at any time over and upon the Access Easement Parcel.
Trustor has no right to purchase any interest in the Leasehold Parcel, other than as set forth in Section 23 of the Ground Lease or Section 1(d) of the Second Amendment to the Ground Lease, to the extent applicable.
The Leasehold Parcel and the Easement Parcels are collectively referred to herein as the “Premises.” Landlord agrees to make such additional direct grants of easement, such grants not to be unreasonably withheld, conditioned or delayed, as Tenant may request in order to further the purposes for which ▇▇▇▇▇▇ has been granted the easements set forth in this Section 2.