Net Leases definition

Net Leases means Leases pursuant to which a Lessee thereunder is responsible for maintenance and repair of the Portfolio Railcars leased thereunder.
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Examples of Net Leases in a sentence

  • For example, as shown in the Appendix in Figure 3 and Figure 4, the Net Leases contracts predominate in the South Bay (Silicon Valley) area where office buildings often include an important component of tenants characterized by high electricity consumption required for “clean rooms” and computers.

  • Commercial leases are normally structured as Triple Net Leases or, in some cases, a “Modified Gross” lease, in which the rent for the first year is a gross rent, but the tenant pays its share of increases in operating expenses and property taxes after the first year.

  • On April 23, 2020, the Partnership executed three Amended and Restated Restaurant Absolutely Net Leases to the Original Leases dated January 30, 1989, by and between the Partnership and Wendgusta LLC (“Tenant”, as successor in interest to Wensouth Corporation) with the intent that these Leases will amend, restate and replace the Original Leases.

  • Subject to Section 9.4 hereof, the occurrence of a material default by Borrowers under any of the Operators’ Agreements or the occurrence of a default by Borrowers under any of the Triple Net Leases, which remains uncured beyond any applicable grace or cure periods.

  • Amounts earned are transferred to the Accumulated Absences Account until the benefits are used.Accruing for short-term accumulating compensated absences has resulted in the following changes being made to the 2009-10 financial statements: Opening 1 April 2009 Balance sheet 31 March 2010 Balance sheet Comprehensive Income and Expenditure account Cost of Services (Net): Leases Under the Code, leases of property are accounted for as separate leases of land and buildings.

  • On July 21, 2020, the Partnership executed two Amended and Restated Restaurant Absolutely Net Leases to the Original Leases dated January 30, 1989, by and between the Partnership and WendCharles I, LLC (“Tenant”, as successor in interest to Wensouth Corporation) with the intent that these Leases will amend, restate and replace the Original Leases.

  • At the Closing, Purchaser shall receive a credit for the amount of any cash Security Deposits held by Sellers pursuant to the Net Leases (to the extent such Security Deposits remain unapplied) and any interest earned thereon which by law or the terms of the Net Leases is required to be paid or refunded to the applicable Net Lease Tenants, and Sellers shall be permitted to retain the balance of any interest earned thereon.

  • No prorations shall be required to be made in connection with the Closing since Seller, or Target, as the case may be, as owner, shall be responsible for all costs incurred in connection with the Property up to the Closing Date and Target, as tenant under the Net Leases, shall be responsible for all costs incurred in connection with the Property from and after the Closing Date.

  • Triple Net Leases (NNN) o A Triple-Net Lease is one in which the tenant pays all operating expenses of the property and the landlord receives a net rent.

  • Conversion of Self-Storage Operating Properties to Net Leases •During the 2019 second quarter, the Company entered into net lease agreements with Extra Space Storage Inc.

Related to Net Leases

  • Net Lease means a lease in which the tenant undertakes to pay all or substantially all the cash expenses, excluding debt service, related to the leased property.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Subject Leases means, for any Asset Review, all 20[•]-[•] Leases which are 60-Day Delinquent Leases as of the end of the Collection Period immediately preceding the related Review Satisfaction Date.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Space Leases means any and all leases, subleases, lettings, licenses, concessions, operating agreements, management agreements, and all other agreements affecting the Trust Estate that Trustor has entered into, taken by assignment, taken subject to, or assumed, or has otherwise become bound by, now or in the future, that give any person the right to conduct its business on, or otherwise use, operate or occupy, all or any portion of the Site or Improvements and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Trust Estate to extract or remove natural resources of any kind, together with all amendments, extensions, and renewals of the foregoing entered into in compliance with this Deed of Trust, together with all rental, occupancy, service, maintenance or any other similar agreements pertaining to use or occupation of, or the rendering of services at the Site, the Improvements or any part thereof.

  • Equipment Leases has the meaning set forth in Section 2.1.9.

  • Lease Agreements shall have the meaning set forth in Section 3.14.

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Finance Leases means any finance leases, to the extent the arrangement is or would have been treated as a finance or a capital lease in accordance with the Accounting Principles applicable on the First Issue Date (a lease which in the accounts of the Group is treated as an asset and a corresponding liability), and for the avoidance of doubt, any leases treated as operating leases under the Accounting Principles as applicable on the First Issue Date shall not, regardless of any subsequent changes or amendments of the Accounting Principles, be considered as a finance lease.

  • Facility Leases means all of the leases of Facilities listed on Schedule 3.7 of the Disclosure Schedules.

  • 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.

  • Real Property Leases means the leases, subleases, licenses or other agreements, including all amendments, extensions, renewals, guaranties or other agreements with respect thereto, under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy any real property.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Company Leases shall have the meaning set forth in Section 3.12(a).

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Capital Leases means, as applied to any Person, any lease of (or any agreement conveying the right to use) any property (whether real, personal or mixed) by such Person as lessee which in accordance with GAAP, is required to be reflected as a liability on the balance sheet of such Person.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Assumed Leases has the meaning set forth in Section 2.6(b).

  • 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.

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