Material Leasehold Interest definition

Material Leasehold Interest means (a) each of the leasehold interests of the applicable Group Parties in any real property identified in Schedule 6.01(13) as a “Material Leasehold Interest”, and (b) any other leasehold interest of any Group Party in any real property that is (i) material to, or necessary in, the operation of the Business (other than leased office space); or (ii) used in the Business for manufacturing, producing or packing products or storing of inventory with an inventory value in excess of [Redacted].
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Material Leasehold Interest means any leasehold interest of a Credit Party in real property that is material to, or necessary in, the operation of the business of such Credit Party which such Credit Party cannot promptly replace with an alternative lease having comparable commercial terms.
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Material Leasehold Interest means any Leasehold Property held by a Credit Party which, if not held by such party, would have a Material Adverse Effect.
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Examples of Material Leasehold Interest in a sentence

  • 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.

  • 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.

  • 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.

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

  • A consent agreement in form and substance satisfactory to the Administrative Agent shall be required from each landlord that has granted a Material Leasehold Interest.

  • No Lien shall be required over any leasehold interest in real property that is not a Material Leasehold Interest if such Lien would be prohibited by the terms of the lease.