Minor Lease definition

Minor Lease any Lease that is not a Material Lease.

Minor Lease any Lease that is not a Material Lease. NET OPERATING INCOME: for any period, the underwritten net cash flow of the Property determined by Lender in its sole discretion exercised in good faith (uniformly and consistently applied in the same manner as Lender exercises similar discretion in other loans of this type and nature for comparable properties) in accordance with Lender's then current underwriting standards for loans of this type and the then current underwriting standards of the Rating Agencies (including adjustments for a management fee equal to the greater of the combined management fees and asset management fees paid under the Management Agreement during such period or 4% of gross revenues, market vacancy, bankrupt tenants which are not in full occupancy of their respective leased premises or which have rejected their respective leases or which are not paying rent on a current basis, leasing costs and capital items).

Minor Lease means any renewal of any Lease and any proposed Lease that is not a Major Lease.

Examples of Minor Lease in a sentence

• So long as no Event of Default is continuing, any Minor Lease with respect to any of the Property written after the date hereof shall not be subject to the prior written approval of Lender if it shall be written substantially in accordance with a standard lease form approved by Lender and shall satisfy the other requirements hereof.

• Leases that are not Major Leases; provided, however, if any Minor Lease, after modification, meets the definition of a Major Lease, such Minor Lease shall thereupon become a Major Lease.

• To the extent that Borrower proposes to enter into a Minor Lease which does not satisfy the conditions described in this Section 5.10.3, then prior to seeking Lender’s consent to any such Minor Lease, Borrowers shall deliver to Lender a copy of such proposed Minor Lease and Lender shall approve or disapprove each such proposed Minor Lease in accordance with the provisions applicable to a Proposed Major Lease as set forth in Section 5.10.2(a) hereof.

• As used in this clause (iv), "Fixed Charges" means, for any accounting period, the sum of (a) gross interest expense, plus (b) amortization of principal or debt discount in respect of all Debt during such period, plus (c) rent payable under all leases of property during such period (excluding rent payable under any Minor Lease), plus (d) taxes payable during such period.

• Notwithstanding the foregoing, (x) while any Triggering Event exists, or (y) if the exercise of any termination or contraction right by tenant under a Minor Lease would result in the occurrence of a Triggering Event, then upon the exercise of any termination or contraction right by tenant under a Minor Lease, Borrower shall deposit with Administrative Agent all fees associated with such termination or contraction right, to be disbursed by Agent to pay Leasing Costs pursuant to Section 9.3(d) below.

More Definitions of Minor Lease

Minor Lease means a Lease to a Tenant that is not a Required Tenant.

Minor Lease any Lease that is not a Material Lease. Net Operating Income: for any period, the actual net operating income of the Property determined on a cash basis of accounting, after deducting therefrom deposits to (but not withdrawals from) any reserves required under this Agreement, and without giving credit for non-recurring extraordinary items of income.

Minor Lease means any Approved Lease of less than 10,000 square feet of Leasable Space.

Minor Lease means a lease for less than 5,000 square feet having a term of less than 10 years, and otherwise on then prevailing market terms and conditions.

Minor Lease shall have the meaning given to such term in Section 10.4(b).

Minor Lease. - means any Lease covering less than 10,000 rentable square feet of the Improvements.

Minor Lease. The meaning assigned in Section 8(b)(i) of Exhibit E.