Material Leased Real Property definition

Material Leased Real Property has the meaning set forth in Section 2.14.

Material Leased Real Property means any (i) Mine or other real property, in each case, subject to a lease with a Loan Party, as lessee, with annual minimum royalties, rents or any similar payment obligations, in excess of $500,000 in the most recently ended fiscal year and (ii) Material Prep Plants.

Material Leased Real Property means any real property leased by a Loan Party that is (a) either listed on Schedule 1.01(a)(ii) or is material (as reasonably determined by the Borrower and the Administrative Agent) to the operations of the Borrower and its Subsidiaries and (b) owned by a Person other than a Loan Party.

Examples of Material Leased Real Property in a sentence

• Neither the Company nor any of its Subsidiaries, as the case may be, has received any written notice of any material conflict or dispute with any regulatory authority or other Person relating to any Company Material Leased Real Property or the activities thereon, other than where there is no current or reasonably likely material interference with the operations at the Company Material Leased Real Property as presently conducted (or as would be conducted at full capacity).

• The Owned Real Property and the Material Leased Real Property shall be referred to herein, individually as “Real Property” and, collectively, as the “Real Properties”).

• With respect to any Owned Real Property owned, or Material Leased Real Property leased, by any Loan Party that is subject to a Project Financing pursuant to this Section 5.11, no second lien mortgages may be placed on such Owned Real Property or Material Leased Real Property while such Project Financing is outstanding.

• The Borrowers and the Restricted Subsidiaries have valid leases in all the Material Leased Real Property set forth on Schedule 3.20(b).

• The Company has made available to Parent true and complete copies of all Leases under which the Company or any of its subsidiaries uses or occupies or has the right to use or occupy any Material Leased Real Property (and all modifications, amendments and supplements thereto, the “Material Leases”).

More Definitions of Material Leased Real Property

Material Leased Real Property means any Leased Property that is leased by Target at an annual rent in excess of twelve thousand ($12,000).

Material Leased Real Property means each of the leased Real Properties of the Loan Parties specified on Schedule 3.20(b) and on any date of determination, any leased Wood Pellet Production Facility or Port Facility and any other Real Property, or group of related tracts of Real Property, leased (whether in a single transaction or in a series of transactions) by any Loan Party, in each case where the fair market value of such lease (including the fair market value of improvements owned by such Person and located thereon) on such date of determination exceeds $10,000,000.

Material Leased Real Property has the meaning set forth in §7(a) below.

Material Leased Real Property means real property leased by any Loan Party having a fair market value reasonably estimated by a Responsible Officer of the Borrower to be in excess of $5,000,000.

Material Leased Real Property means: (i) as of the Issue Date, all Real Property subject to a Real Property Lease under which the Parent Guarantor, the Issuer or any Note Guarantor is the lessee or tenant and (ii) any other Real Property subject to a Real Property Lease that the Parent Guarantor, the Issuer or any Note Guarantor enters into or acquires after the Issue Date as the lessee or tenant thereunder for the purpose of mining or conducting mining operations on such leased Real Property (including, without limitation, extraction of coal and other minerals and the processing and transport thereof) in respect of which the coal royalties payable under such Real Property Lease are or would reasonably be expected to be equal to or greater than $1.5 million (or the U.S. Dollar Equivalent thereof), in the aggregate during the period from date of execution of such Real Property Lease to the Stated Maturity of the Notes, as determined by the Issuer on the date of execution of such Real Property Lease in its reasonable judgment.

Material Leased Real Property means each Leased Real Property that provide for (i) leased areas of more than 200 square meters, or (ii) annual rents of more than $60,000 (the Leases under which the Company or any of its subsidiaries uses or occupies or has the right to use or occupy any Material Leased Real Property, and all modifications, amendments and supplements thereto, the “Material Leases”). Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (A) each of the Company and its subsidiaries has a good and valid leasehold or subleasehold interest in each relevant parcel of the Material Leased Real Property, free and clear of all Liens, except for Permitted Liens; and (B) to the knowledge of the Company, each Material Lease is legal, valid, binding, enforceable and in full force and effect, subject to the Bankruptcy and Equity Exception. Neither the Company nor any of its applicable subsidiaries is in breach or violation of, or default under any Material Lease and to the knowledge of the Company, no event has occurred or circumstance exists which, with the delivery of notice, the passage of time or both, would constitute such a breach or default, or permit the termination, modification or acceleration of rent under such Material Lease.

Material Leased Real Property means the real property demised by Material Leases.