Leasing Requirements definition

Leasing Requirements means:
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Leasing Requirements means, with respect to any Lease that is not a Major Lease that such Lease (i) provides for rental rates reasonably comparable to existing local market rates for similar properties, (ii) is on commercially reasonable terms with unaffiliated third parties, and, (iii) does not contain any terms which would have a Material Adverse Effect.
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Leasing Requirements means, with respect to any Lease, that such Lease: (a) is entered into with a bona fide third party tenant;
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Examples of Leasing Requirements in a sentence

  • All Leases, and any modifications, renewals and extensions of such Leases, that meet the Leasing Requirements and that are not Major Commercial Leases may be executed by the Borrower without obtaining the prior express written consent of the Administrative Agent.


More Definitions of Leasing Requirements

Leasing Requirements means, with respect to any Lease that is not a Major Lease, that such Lease (i) is written on the Approved Lease Form; (ii) provides for rental rates comparable to existing local market rates for similar properties; (iii) is an arm’s-length transaction with an unrelated third party tenant (unless otherwise agreed by Lender); (iv) provides that such Lease is subordinate to the Security Instrument and that the lessee will attorn to Lender and any purchaser at a foreclosure sale; and (v) does not contain any option to purchase the Property or any other terms which would have a Material Adverse Effect.
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Leasing Requirements means the (A) renewal of the Required Lease for the entire Building (as hereinafter defined) for the first five (5) year renewal term provided for under the Required Lease or (ii) execution of a new lease with a new tenant or tenants for no less than ninety percent (90%) of the rentable area of the Building on terms and conditions acceptable to the Lender with a tenant or tenants whose credit is acceptable to the Lender, which leases will provide a debt service coverage ratio of not less than 1.40 to 1 for not less than a five (5) year term commencing upon scheduled expiration date for the Required Lease. (ii) “Leasing Costs” shall mean (A) the costs reasonably incurred by the Borrower to perform, or cause to be performed, tenant improvements required under any replacement lease or modification, renewal or extension of the Required Lease; and (B) the costs of leasing commissions incurred by Borrower in connection with the leasing of the Building or any portion thereof, provided that (x) such leasing commissions are reasonable and customary for properties similar to the Property and the portion of the Property leased for which such leasing commission is due, and (y) the amounts of such leasing commissions are determined pursuant to arm’s length transactions between Borrower and any leasing agent to which a leasing commission is due, and excluding any leasing commissions which shall be due any member, general partner or shareholder of Borrower or any affiliate of Borrower, except that Lender acknowledges (i) that an affiliate of Borrower may receive a “co-broker” commission of one percent (1%) in excess of the brokerage commission otherwise payable to CBRE (or any broker retained by Borrower to replace CBRE) pursuant to its listing agreement with Borrower and (ii) if Borrower’s leasing agent affiliate is the sole procuring broker Borrower’s affiliate can receive a market rate commission.
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Leasing Requirements means, with respect to any Lease, that such Lease: (a) is entered into with a bona fide third party tenant; (b) is an arm’s length lease for actual occupancy of the premises demised thereunder by the applicable tenant; (c) is on market terms and does not contain any rental or other concessions which are not required due to market conditions as offered for competitive space; (d) provides that the tenant thereunder is required to pay a pro rata share (based on square footage of space) of, or increases in, taxes, insurance, or other operating expenses; (e) does not have a purchase option or right of first refusal to purchase the Mortgaged Premises or any portion thereof; and (f) by its terms provides for Voya Loan No.: 30340 automatic subordination to the Security Instrument and the Assignment of Leases. With regard to clause (d) above, in connection with a pad site Lease, such Lease may provide that tenant is responsible for all ad valorem taxes for such premises, the insurance for the Improvements on the leased premises and operation and maintenance of all common areas on the leased premises in order to comply with the requirements of clause (d) above.
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Leasing Requirements means, with respect to any Lease, that such Lease: (a) is entered into with a bona fide third party tenant; (b) is an arm’s length lease for actual occupancy of the premises demised thereunder by the applicable tenant; (c) is on market terms and does not contain any rental or other concessions which are not required due to market conditions as offered for competitive space; (d) provides that the tenant thereunder is required to pay a pro rata share (based on square footage of space) of, or increases in, taxes, insurance, or other operating expenses; (e) does not have a purchase option or right of first refusal to purchase the Mortgaged Premises or any portion thereof; and (f) by its terms provides for automatic subordination to the Security Instrument and the Assignment of Leases.
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Leasing Requirements shall having the meaning set forth in Section 5(e) and Exhibit E.
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Related to Leasing Requirements

  • MREL Requirements means the laws, regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities applicable to the Issuer and/or the Group, from time to time, (including any applicable transitional or grandfathering provisions), including, without limitation to the generality of the foregoing, any delegated or implementing acts (such as regulatory technical standards) adopted by the European Commission and any regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities adopted by the Federal Republic of Germany or the Republic of Italy, a relevant resolution authority or the European Banking Authority from time to time (whether or not such requirements, guidelines or policies are applied generally or specifically to the Issuer and/or the Group), as any of the preceding laws, regulations, requirements, guidelines, rules, standards, policies or interpretations may be amended, supplemented, superseded or replaced from time to time.

  • Insurance Requirements means, collectively, all provisions of the Insurance Policies, all requirements of the issuer of any of the Insurance Policies and all orders, rules, regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon each Loan Party which is an owner of Mortgaged Property and applicable to the Mortgaged Property or any use or condition thereof.

  • Project Requirements means the statement included in the Request for Proposal detailing the technical and other requirements of Canada which are to be met by the successful Bidder, and which are to be addressed in the Bid;

  • Governmental Real Property Disclosure Requirements means any Requirement of Law of any Governmental Authority requiring notification of the buyer, lessee, mortgagee, assignee or other transferee of any Real Property, facility, establishment or business, or notification, registration or filing to or with any Governmental Authority, in connection with the sale, lease, mortgage, assignment or other transfer (including any transfer of control) of any Real Property, facility, establishment or business, of the actual or threatened presence or Release in or into the Environment, or the use, disposal or handling of Hazardous Material on, at, under or near the Real Property, facility, establishment or business to be sold, leased, mortgaged, assigned or transferred.