Modified Lease definition

Modified Lease has the meaning set forth in Section 3.5(a).
View Source
Modified Lease shall have the meaning set forth in Section 8.8.1.
View Source
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.
View Source

Examples of Modified Lease in a sentence

  • 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.

  • Except as provided in PARAGRAPHS 12.1 and 12.2, Tenant's occupancy of the demised premises during the Extension Term shall be on the same terms and conditions as are in effect immediately prior to the expiration of the immediately preceding term of the Modified Lease; provided, however, that Tenant shall have no further right to extend the Term beyond the second Extension Term.

  • 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.

  • As of March 31, 1999, USWeb, with Landlord's consent, assigned the Modified Lease to USWeb Corporation, d/b/a USWeb/CKS ("USWEB/CKS") and, commencing April 1, 1999, USWeb/CKS subleased the Premises to Tenant.

  • If Tenant exercises its right to extend the term of the Modified Lease for the Extension Term pursuant to this Article, the phrases "the term of this lease", or "the term hereof" as used in the Modified Lease, shall be construed to include, when practicable, the Extension Term.

  • To exercise the option to renew and extend the Lease, Lessee shall provide written notice to Lessor posted or delivered not less than three hundred sixty-five (365) days prior to end of the Modified Lease Term, or by August 31, 2009.

  • 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.

  • Tenant acknowledges and agrees that Landlord's entering into this Amendment, reducing the lease term, reducing the size of the Premises and terminating future rent obligations for the period after the Modified Lease Termination Date shall result in a significant financial benefit to Tenant in excess of the consideration specified below.

  • Upon the execution of any Modified Lease, as applicable, Borrower shall deliver to Lender an executed copy of such Modified Lease.

  • Tenant acknowledges that it has received and read the Modified Lease.


More Definitions of Modified Lease

Modified Lease shall have the meaning set forth in the Management Agreement.
View Source
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.
View Source
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
View Source

Related to Modified Lease

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

  • Approved Lease has the meaning set forth in Section 6.11(a).

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

  • Base Lease means the Base Lease Agreement by and between the City and the Corporation to be dated as of the date of its delivery, as the same may be amended or supplemented from time to time.

  • 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: