Net Lease Assets definition

Net Lease Assets means the Company's and its Subsidiaries' portfolio of direct and indirect interests in net lease assets and the Capital Stock of the Company’s Subsidiaries and other entities the majority of whose assets constitute net lease assets as of September 30, 2021.
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Net Lease Assets means (i) a property that is either (a) triple net leased or (b) where a tenant leases at least 85% of the rentable square footage of the property and, in addition to base rent, the tenant is required to pay some or all of the operating expenses for the property, and, in both (a) and (b) the lease has a remaining term, exclusive of all unexercised renewal terms, of more than 18 months, (ii) management agreements and master leases with terms of greater than three years where a manager or master lessee bears all operating expenses of the property and pays the owner a fixed return, (iii) securities of companies including, without limitation, corporations, partnerships and limited liability companies, whether or not publicly traded, that are primarily invested in assets that meet the requirements of clauses (i) and (ii), and (iv) all retenanting and redevelopment associated with such properties, agreements and leases, and all activities incidental thereto.
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Net Lease Assets means (i) a property that is either (a) triple net leased or (b) where a tenant leases at least 85% of the rentable square footage of the property and, in addition to base rent, the tenant is required to pay
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Examples of Net Lease Assets in a sentence

  • The Advisor shall take all reasonable steps to ensure that all of its officers, directors and managers and any persons or entities to which it subcontracts any of its services hereunder shall agree, as a condition to their acting in such capacities, to offer to ▇▇▇▇▇▇▇ any business opportunities related to Net Lease Assets that are offered to or generated by such person or entity during the term of this Agreement.

  • Simultaneous with the closing of the IPO, the Corporation shall acquire from First Union an assignment of the exclusivity rights that First Union holds with respect to ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ pursuant to an Exclusivity Agreement between First Union and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (the “Exclusivity Agreement”) but solely as they relate to Net Lease Assets (the “Exclusivity Assignment”), and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ shall consent to such Exclusivity Assignment.

  • First Union shall have delivered to Newkirk an assignment in form a▇▇ ▇▇▇▇tance reasonably acceptable to Newkirk to assign to Newkirk al▇ ▇▇ ▇▇rst Union's ri▇▇▇, ▇▇tle and interest under the Exclusivity Agreement to Net Lease Assets.

  • Upon the terms and subject to the conditions of this Agreement, First Union shall sell, assign, convey and transfer to Newkirk all of First Union's ri▇▇▇, ▇▇tle and interest under the Exclusivity Agreement solely with respect to Net Lease Assets (the "Exclusivity Assignment"), free and clear of any lien or other encumbrance.

  • Upon the terms and subject to the conditions of this Agreement, First Union shall sell, assign, convey and transfer to ▇▇▇▇▇▇▇ all of First Union’s right, title and interest under the Exclusivity Agreement solely with respect to Net Lease Assets (the “Exclusivity Assignment”), free and clear of any lien or other encumbrance.

  • A▇▇▇▇▇ covenants and agrees that he will not consent to any amendment or modification of the First Union Agreement to the extent such amendment or modification would relieve A▇▇▇▇▇ of his obligations to offer to the Company all Business Opportunities as they relate to Net Lease Assets in accordance with the terms of the First Union Agreement without the prior written consent of the Company.

  • First Union shall have delivered to ▇▇▇▇▇▇▇ an assignment in form and substance reasonably acceptable to ▇▇▇▇▇▇▇ to assign to ▇▇▇▇▇▇▇ all of First Union’s right, title and interest under the Exclusivity Agreement to Net Lease Assets.