Material Leasehold definition

Material Leasehold means a Real Property Asset consisting of a leasehold interest in an Operating Lease or a Capital Lease which is reasonably determined by Agent to be of material value as collateral for the Obligations.
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Material Leasehold means any facility or location in which a Credit Party has a Leasehold interest and at which (i) with respect to any single location, the Value of Inventory and Equipment exceeds $500,000, (ii) with respect to any single location, the Value of Inventory and Equipment is less than or equal to $500,000 and, when such Value is aggregated with the Value of Inventory and Equipment at all other locations in which a Credit Party has a Leasehold interest at which the Value of Inventory and Equipment is less than or equal to $500,000 for which no Collateral Access Agreement is in place, exceeds $2,000,000 or (iii) any centralized location where books and records relating to the Accounts are located.
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Material Leasehold means any Leasehold with respect to a manufacturing or similar facility.
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Examples of Material Leasehold in a sentence

  • If Borrower or any of its Subsidiaries acquires any Material Leasehold Property, Borrower shall use its commercially reasonable efforts to, or shall use its commercially reasonable efforts to cause such Subsidiary to, cause such Material Leasehold Property to be a Conforming Leasehold Interest.

  • If Holdings or any of its Subsidiaries acquires any Material Leasehold Property, Holdings shall use commercially reasonable efforts to, or shall cause such Subsidiary to use commercially reasonable efforts to, cause such Leasehold Property to be a Conforming Leasehold Interest and Holdings shall deliver evidence of the foregoing to Administrative Agent.

  • The Borrower agrees to use commercially reasonable efforts to obtain and deliver to the Lender from time to time a Landlord Agreement in respect of each Material Leasehold Interest, unless advised by the Lender in writing to not be required.

  • The Lender confirms that it will not register any debenture or mortgage granted by any Credit Party in favour of the Lender in respect of any Material Leasehold Interest unless a Landlord Agreement in respect of such Material Leasehold Interest has been executed and delivered by the applicable landlord.

  • All easements, licences, servitude and other agreements necessary for the operation and maintenance of each Material Freehold Interest and each Material Leasehold Interest in the manner in which it is currently being operated have been obtained and, to the best of each Group Party’s knowledge, are in good standing.

  • No Loan Party is in breach or violation of any of the terms, conditions or provisions of any Material Contracts or any lease with respect to any Material Leasehold Property, except for such breaches and violations thereof as in the aggregate do not and could not reasonably be expected to have a Material Adverse Effect.

  • Upon the request of Administrative Agent or the Requisite Lenders, Holdings shall use commercially reasonable efforts to, or shall cause such Subsidiary to use commercially reasonable efforts to, cause each Material Leasehold Property of Holdings or such Subsidiary to be a Conforming Leasehold Interest.

  • Without limiting the generality of the foregoing, each Credit Party will, if requested by the Lenders, use commercially reasonable efforts to obtain a Landlord’s Waiver and Consent from each lessor of a Material Leasehold Property on which any of the Collateral is or is to be located to the extent requested by the Lenders.

  • Promptly upon, and in any event within ten Business Days after, Holdings or any other Credit Party acquires any Material Leasehold or any fee owned (or the equivalent) Real Property with a building insured value of $5,000,000 or more or upon which a Mortgage is required to be granted under the Senior Secured Notes Documents to secure the obligations thereunder.

  • In the case of each new lease for a Material Leasehold Property entered into after the Closing Date, the Credit Parties shall (a) provide notice thereof to the Collateral Agent and (b) if requested by the Collateral Agent, (i) provide copies of the lease, and all amendments thereto, between the Credit Party and the landlord or tenant party thereto, and (ii) use commercially reasonable efforts to obtain a Landlord’s Waiver and Consent with respect thereto.


More Definitions of Material Leasehold

Material Leasehold means a Real Property Asset consisting of a leasehold interest in an Operating Lease or a Capital Lease which is reasonably determined by Agents to be of material value as collateral for the Obligations; provided that in no event shall any such leasehold interest with respect to which the aggregate amount of all rents payable during any Fiscal Year is less than $100,000 be deemed to be a Material Leasehold; and provided, further that in no event shall any such leasehold interest of office space used solely for conducting the sales and service operations of Company and its Subsidiaries (in each case on a basis consistent with the past practices of Company and its Subsidiaries prior to the Closing Date with respect to the conduct of business at their respective branch and district sales and service offices (but not the Melbourne, Florida sales and service facilities of U.S. Dictaphone)) be deemed to be a Material Leasehold.
Sample 1
Material Leasehold means any facility or location in which a Grantor has a Leasehold interest and at which (i) with respect to any single location, the value of Inventory and Equipment exceeds $500,000, (ii) with respect to any single location, the value of Inventory and Equipment is less than or equal to $500,000 and, when such value is aggregated with the value of Inventory and Equipment at all other locations in which a Grantor has a Leasehold interest at which the value of Inventory and Equipment is less than or equal to $500,000 for which no Collateral Access Agreement is in place, exceeds $2,000,000 or (iii) any centralized location where books and records relating to the Accounts are located.
Sample 1

Related to Material Leasehold

  • Material Leases has the meaning set forth in Section 4.21.

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • Material Lease has the meaning set forth in Section 3.17(a).

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

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Real Property Leases means the leases, subleases, licenses or other agreements, including all amendments, extensions, renewals, guaranties or other agreements with respect thereto, under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy any real property.

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

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • 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.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property.

  • Leaseholds of any Person shall mean 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.

  • Material Real Property means any fee owned Real Property located in the United States that is owned by any Loan Party with a fair market value in excess of $10,000,000 (at the Closing Date or, with respect to Real Property acquired after the Closing Date, at the time of acquisition, in each case, as reasonably estimated by the Borrower in good faith).

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • Material Properties means (a) those Mortgaged Properties designated on Schedule 3.12 as Material Properties and (b) each other Mortgaged Property with respect to which a Mortgage is granted pursuant to Section 5.11 after the Restatement Effective Date.

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • 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.

  • Financeable Ground Lease means, a ground lease reasonably satisfactory to the Administrative Agent on behalf of the Lenders, which must provide customary protections for a potential leasehold mortgagee (“Mortgagee”) such as (i) a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years, (ii) a provision that the ground lease will not be terminated until the Mortgagee has received notice of a default, has had a reasonable opportunity to cure and has failed to do so, (iii) provision for a new lease to the Mortgagee as tenant on the same terms if the ground lease is terminated for any reason, (iv) transferability of the tenant’s interest under the ground lease by the Mortgagee without any requirement for consent of the ground lessor unless based on delivery of customary assignment and assumption agreements from the transferor and transferee, (v) the ability of the tenant to mortgage tenant’s interest under the ground lease without any requirement for consent of the ground lessor and (vi) provisions that the tenant under the ground lease (or the leasehold mortgagee) has customary protections with respect to the application of insurance proceeds or condemnation awards attributable to the tenant’s interest under the ground lease and related improvements.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Company Leases shall have the meaning set forth in Section 3.12(a).

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that: