Mortgagee Lease definition

Mortgagee Lease means a lease of the Premises entered into between a Permitted Leasehold Mortgagee, as lessee, and the Lessor, as lessor, as a result of a termination hereof by reason of any Event of Default for the remainder of the Term effective as of the date of termination hereof, at the same Rent and upon the same terms, provisions, covenants, and agreements as contained in this Ground Lease and subject to no additional exceptions or encumbrances other than Permitted Encumbrances and to the rights, if any, of the parties then in possession (actual or constructive) of any part of the Premises.
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Mortgagee Lease means a new lease of the Leased Premises between the Landlord and the Leasehold Mortgagee, effective as of the date of termination of this Lease because of an Event of Default by the Tenant, for the remainder of the Term, at the same Rent and upon the same terms, provisions, covenants, and agreements as contained in this Lease, except that the Landlord shall not warrant title to the Leased Premises which shall be subject, among other encumbrances then existing, to the Permitted Encumbrances and any Subleases then existing.
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Mortgagee Lease means a lease of the Premises entered into between a Leasehold Mortgagee, as Lessee, and the Lessor, as Lessor, as a result of a termination of this Ground Lease by reason of any Event of Default for the remainder of the term effective as of the date of termination of this Ground Lease, at the same Rent and upon the same terms, provisions, covenants, and agreements as contained in this Ground Lease and subject to no additional exceptions or encumbrances other than Permitted Encumbrances and to the rights, if any, of the parties then in possession (actual or constructive) of any part of the Premises.
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Examples of Mortgagee Lease in a sentence

  • The Leasehold Mortgagee shall then have thirty (30) days from the date it received, or was deemed to have received under Section 10.02 of this Lease, such notice to: (A) deliver written notice to the Landlord that it elects to enter into a Mortgagee Lease; (B) enter into such Mortgagee Lease; and(C) satisfy the conditions in Section 8.04(c)(i) to Section 8.04(c)(iii) below.

  • The Leasehold Mortgagee shall then have thirty (30) days from the date it received, or was deemed to have received under Section 10.02 of this Lease, such notice to: (A) deliver written notice to the Landlord that it elects to enter into a Mortgagee Lease; (B) enter into such Mortgagee Lease; and (C) satisfy the conditions in Section 8.04(c)(i) to Section 8.04(c)(iii) below.

  • The Leasehold Mortgagee shall be released from liability under a Mortgagee Lease upon an assignment of the Lease by the Leasehold Mortgagee, or its receiver or receiver and manager, to a new tenant in compliance with the assignment and transfer provisions of the Mortgagee Lease.

  • Notwithstanding the foregoing, the liability of a Leasehold Mortgagee with respect to its obligations under this Ground Lease or any Mortgagee Lease shall be “non-recourse” and, accordingly, the Lessor’s source of satisfaction of such obligations shall be limited to the same extent and in the same manner as provided in Section 36(1) with respect to the Lessee.

  • The Leasehold Mortgagee shall be released from liability under a Mortgagee Lease upon an assignment of the Lease by the Leasehold Mortgagee,or its receiver or receiver and manager, to a new tenant in compliance with the assignment and transfer provisions of the Mortgagee Lease.


More Definitions of Mortgagee Lease

Mortgagee Lease means a lease of the Property entered into between a Leasehold Mortgagee, as lessee, and the Board, as lessor, as a result of a termination of the Corporation’s right of occupancy under this Second Supplemental Ground Lease by reason of any Event of Default for the remainder of the term of this Second Supplemental Ground Lease effective as of the date of termination of this Second Supplemental Ground Lease, at the same Rent and upon the same terms, provisions, covenants, and agreements as contained in this Second Supplemental Ground Lease and subject to no additional exceptions or encumbrances other than the rights, if any, of the parties then lawfully in possession of any part of the Property.
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Related to Mortgagee Lease

  • Mortgagee means the mortgagee, grantee or beneficiary under any Mortgage, any holder of legal title to any portion of any Mortgage Loan or, if applicable, any agent or servicer on behalf of such party.

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

  • Ground Lessor means, as to any Site, the “lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease.

  • Superior Landlord means and includes people or persons to whom the ownership or interest in the Leasehold Property might revert in the fullness of time.

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

  • Lessor Lien means, with respect to any person and in respect of any property (including, without limitation, the Trust Estate, the Trust Indenture Estate, the Aircraft, Airframe, Engines, Parts or Aircraft Documents) or any payments, any Lien on such property or payments which (a) arises from claims against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) not related to any of the transactions contemplated by the Operative Agreements, (b) results from acts or omissions of such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) in violation of such person's obligations under any of the terms of the Operative Agreements, or not related to the transactions contemplated by the Operative Agreements, (c) is imposed as a result of Taxes against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) or any of its Affiliates not required to be indemnified by Lessee under the Participation Agreement, or (d) claims against such person arising out of any transfer by such person of its interest in the Aircraft, the Trust Estate or the Operative Agreements, other than a Transfer permitted by the terms of the Operative Agreements or pursuant to the exercise of remedies set forth in Section 15 of the Lease.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • 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:

  • Master Lease This Schedule is issued pursuant to the Lease identified on page 1 of this Schedule. All of the terms and conditions of the Lease are incorporated in and made a part of this Schedule as if they were expressly set forth in this Schedule. The parties hereby reaffirm all of the terms and conditions of the Lease (including, without limitation, the representations and warranties set forth in Section 8) except as modified herein by this Schedule. This Schedule may not be amended or rescinded except by a writing signed by both parties. CHEMDEX CORPORATION COMDISCO, INC. AS LESSEE AS LESSOR By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxx ------------------- --------------------- Title: CEO Title: SR VP ----------------- ------------------- Date: Date: ----------------- ------------------- EXHIBIT 1 SUMMARY EQUIPMENT SCHEDULE -------------------------- This Summary Equipment Schedule dated XXXX is executed pursuant to Equipment Schedule No. X to the Master Lease Agreement dated XXXX between Comdisco, Inc. ("Lessor") and XXXX ("Lessee"). All of the terms, conditions, representations and warranties of the Master Lease Agreement and Equipment Schedule No. X are incorporated herein and made a part hereof, and this Summary Equipment Schedule constitutes a Schedule for the Equipment on the attached invoices.

  • Leasehold Mortgage means a mortgage, a deed of trust, a deed to secure debt, or other security instrument by which the Leasehold is mortgaged, conveyed, assigned, or otherwise transferred to secure a debt or other obligation.

  • Head Lease or “Superior Lease” means the document which sets out the promises the Landlord has made to the Superior Landlord. The promises contained in this Head Lease will bind the Tenant if he has prior knowledge of those promises.

  • Mortgagor The obligor on a Mortgage Note.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Landlord means the owner, lessor or sublessor of the dwelling unit or the building of which such

  • Sublessor means one who conveys real property by sublease."

  • this Lease means the relevant portion of Articles 1 through 29 of this Office Lease to which this Tenant Work Letter is attached as EXHIBIT B and of which this Tenant Work Letter forms a part, and all references in this Tenant Work Letter to sections of "this Tenant Work Letter" shall mean the relevant portion of Sections 1 through 7 of this Tenant Work Letter.

  • the Landlord means the party named on the first page of this Agreement and any successor and any person who has an interest as heritable proprietor in The Property, even if not named in this Agreement. The Landlord agrees to inform The Agent, in writing, of any changes to ownership of The Property, contact telephone numbers, postal or e-mail addresses as soon as possible and in any event within 7 days of the change.

  • the Tenant means the party(ies) named on the tenancy agreement as the tenant of The Property.

  • Truck lessor means a person who holds the legal title to any motor vehicle, trailer, or semitrailer

  • Sublandlord means the holder of sublandlord’s interest under this Sublease. In the event of any assignment or transfer of the Sublandlord’s interest under this Sublease, which assignment or transfer may occur at any time during the Term in Sublandlord’s sole discretion, Sublandlord shall be and hereby is entirely relieved of all covenants and obligations of Sublandlord hereunder accruing subsequent to the date of the transfer and it shall be deemed and construed, without further agreement between the parties hereto, that any transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublandlord hereunder. Sublandlord may transfer and deliver the then existing Letter of Credit to the transferee of Sublandlord’s interest under this Sublease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto. In addition. Sublandlord shall comply with all of its obligations as “Tenant” under the Master Lease except to the extent that any such obligation is the obligation of Subtenant pursuant to the terms of this Sublease. Notwithstanding any other term or provision of this Sublease, the liability of Subtenant to Sublandlord for any default in Subtenant’s obligations under this Sublease shall be limited to actual, direct damages, and under no circumstances shall Sublandlord, its partners, members, shareholders, directors, agents, officers, employees, contractors, sublessees, successors and/or assigns be entitled to recover from Subtenant (or otherwise be indemnified by Subtenant) for lost revenues, lost profit or other consequential, special or punitive damages arising in connection with this Sublease for any reason, except for any breach by Subtenant under Section 12 of the Master Lease. Notwithstanding any other term or provision of this Sublease, no personal liability shall at any time be asserted or enforceable against Subtenant’s shareholders, directors, officers, or partners on account of any of Subtenant’s obligations or actions under this Sublease.

  • Successor Landlord shall have the meaning given such term in Section 20.2.

  • 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.

  • Sublessee means any party to whom Lessee grants the right to possess all or any portion of the Premises according to a Sublease.