Modified Lease definition

Modified Lease means a Lease pursuant to which the Property Owner, as landlord, may have a contingent obligation generally confined to structural and related components of the improvements on the related Properties.
Sample 1
Modified Lease shall have the meaning set forth in the Management Agreement.
Sample 1
Modified Lease has the meaning set forth in Section 3.5(a).
Sample 1

Examples of Modified Lease in a sentence

  • Notwithstanding the foregoing, the parties acknowledge that the Premises are currently subject to the Modified Lease, which is between Landlord and USWeb/CKS and agree that, if on the Effective Date USWeb/CKS continues to claim any right to the Premises under the Modified Lease, Landlord shall have no liability to Tenant for failure to deliver the Premises or otherwise arising from such claims so long as Landlord is diligently pursuing its remedies against USWeb/CKS.

  • In event that Tenant strictly complies with the provisions hereof, the Modified Lease and the term and estate thereby granted (unless the same shall have expired sooner pursuant to the provisions of the Lease, as amended, or of the law) shall terminate on the corresponding Termination Date with the same effect as if such date were the date hereinbefore specified as the expiration date of the Lease, as amended.

  • The term of the Modified Lease currently expires on August 29, 1999, but Landlord and Tenant wish to extend the term of Tenant's occupancy of the Premises on the terms, covenants, conditions and provisions hereinafter provided.

  • For the avoidance of doubt, Buyer will not be assuming any contractual obligations of Seller other than Seller's obligations as tenant under the Modified Lease and as lessee under the leases for the Leased Equipment (as defined in Section 3.1.4)) but only to the extent that such obligations are required to be performed after the Closing Date.

  • Effective from and after August 30, 1999 (the "Effective Date") through and including November 30, 1999 (the "Term"), Landlord shall lease to Tenant and Tenant shall lease from Landlord the Premises on all the same terms and conditions as apply to the Premises under the Modified Lease, except as set forth herein (the Modified Lease as modified by this Agreement, the "New Lease").

  • Landlord and Tenant presently desire to further amend the Modified Lease in the manner provided in this Fourth Amendment.

  • The Expiration Date of the Modified Lease is hereby extended to March 31, 2022.

  • If the Modified Lease is renewed in accordance with the provisions of this Article, then at Landlord's request Tenant shall execute an instrument in form for recording setting forth the exercise of Tenant's right to extend the term of the Modified Lease, the last day of the relevant Extension Term, and the fixed annual rent for such Extension Term, but the failure of Tenant to do so shall not impair the effectiveness of such extension.

  • In determining the fair market rent, the provisions of ARTICLES 50 and 51 (and any other escalation payments that may be provided for in the Modified Lease) shall remain in effect during any Extension Term with the same base periods as set forth therein, and such base periods shall be recognized in making such determination of fair market value.

  • If, after five (5) Business Day's following Lender's receipt of such Modified Lease Lender has not either approved or disapproved the proposed Modified Lease, Borrower shall deliver a second notice to Lender which notice must state on the outside envelope in which such Modified Lease is delivered in bold, large letters (no less than 15 font) the following: NOTICE: YOU WILL BE DEEMED TO HAVE CONSENTED TO THE DOCUMENT ENCLOSED HEREIN IF NOT DISAPPROVED WITHIN FIVE (5) BUSINESS DAYS OF RECEIPT.


More Definitions of Modified Lease

Modified Lease shall have the meaning set forth in Section 8.8.1.
Sample 1
Modified Lease. Where a Property Owner, as landlord of such Lease, may have contingent obligations for structural obligations in the related Lease including foundation, floor slabs, load-bearing exterior walls, roof structural elements, utility systems, fire suppression systems, paved areas and other limited elements on the related Properties, as applicable
Sample 1
Modified Lease means any Lease in which the Lessee is responsible for repairs to specific items such as gates, hatch covers, doors, or other items specified in the Lease, and the Lessor is responsible for all other maintenance.
Sample 1

Related to Modified Lease

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • 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:

  • Facility Lease means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and substance reasonably satisfactory to the Administrative Agent.

  • Permitted Sublease means a sublease permitted under Section 7.2.7 of the Lease.

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

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Permitted Leakage means any of the following:

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

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

  • special lease means a special lease or license to be granted in terms of this Agreement under the Ratifying Act the Land Act or the Xxxxxxx Xxx 0000 and includes any renewal thereof; “this Agreement” “hereof” and “hereunder” include this Agreement as from time to time added to varied or amended;

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Facility Leases means all of the leases of Facilities listed on Schedule 4.6(a).

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Original Lease shall have the meaning given such term in the recitals to this Agreement.

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Permitted Lessee means any Person to whom Company is permitted to lease the Airframe or any Engine pursuant to Section 7.02(a) of the Indenture and is a party to a Lease.

  • 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;

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

  • Permitted Lock-Up Agreement means an agreement between a Person and one or more holders of Voting Shares pursuant to which such holders (each a “Locked-Up Person”) agree to deposit or tender Voting Shares to a Take-Over Bid (the “Lock-Up Bid”) made or to be made by such Person or any of such Person’s Affiliates or Associates or any other Person with which such Person is acting jointly or in concert, provided that:

  • Permitted Sublessee means the sublessee under a Permitted Sublease.

  • 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.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.