New Ground Lease definition

New Ground Lease means, after the termination or expiration of the Ground Lease, any new, replacement or substitute Ground Lease issued to or obtained by Agent or its designee with respect to or in place of the terminated Ground Lease, whether pursuant to any provision of the terminated Ground Lease or otherwise.
View Source
New Ground Lease means a new ground lease for the Site, in form and substance acceptable to Buyer in Buyer’s sole and absolute discretion, to be executed by N▇▇▇▇▇▇▇▇ and Buyer if Buyer makes the New Lease Election (as defined herein).
View Source
New Ground Lease means a new ground lease for the Site, in form and substance acceptable to Buyer in Buyer’s sole and absolute discretion, to be executed by Navigator and Buyer if Buyer makes the New Lease Election (as defined herein).
View Source

Examples of New Ground Lease in a sentence

  • Agent or its designee shall hold such New Ground Lease free and clear of any right or claim of Borrower.

  • Said ▇▇▇▇ of sale, Termination of Ground Lease, and, for sales to Non-Lessor Purchaser, the New Ground Lease (collectively, the “Record Instruments”) shall be delivered and the purchase price paid (the "Closing") at the Registry, or at such other place as established by the parties in the Purchase and Sale Agreement.

  • No Tenant Estoppel shall be required for subtenants of Seller or its Affiliates with respect to the New Ground Lease Property.

  • The form of the New Ground Lease and the Leaseback Lease shall be agreed upon by Buyer and Seller during the Due Diligence Period.

  • The foregoing notwithstanding, after the foreclosure of a Mortgage, or acceptance by a Mortgagee of an assignment or deed in lieu of foreclosure, the Property may be used for any lawful purpose, so long as such use is in conformity with this Ground Lease or the New Ground Lease between Landlord and such Mortgagee as applicable hereunder, which New Ground Lease shall include provision for payment of adjusted Rent in an amount not less than provided in Section 4.1.2.

  • In the event neither party submits an Estimate at that meeting, the meeting for which the Fair Market Value is being determined shall be cancelled, and the Ground Lease Rent shall be the same as the rent payable under (a) the Existing Ground Lease, if this occurs at the commencement of the term of the New Ground Lease, or (b) the Ground Lease Rent paid by BOR for the previous year, if this occurs at any Rent Adjustment Date.

  • BOR and City acknowledge that the New Ground Lease will be subject to the provisions of Chapter 18 of the Statutes of 1964 (the “Statutes”) as set forth in the Existing Ground Lease.

  • That is, there shall be no charge, lien or burden upon the Leased Property prior to or superior to the estate granted by such New Ground Lease which was not prior to or superior to the estate of BNPPLC under this Ground Lease as of the date immediately preceding the termination of this Ground Lease.

  • Should the BOR Notice be provided in the timeframes and manner required herein, the City and BOR shall undertake the process for determining the rent as outlined in Section 8 below and the parties shall proceed to finalize and execute the New Ground Lease.

  • Company and ▇▇▇▇▇▇▇ hereby agree to enter into the New Ground Lease of the Subleased Premises effective the Termination Date; provided however, that if the Termination Date occurs pursuant to Section 3.01(c), other than concurrently with termination of the Master Lease, or Section 3.01(d), this Agreement shall terminate and Company shall have no obligation to enter into the New Ground Lease, and all rights on ▇▇▇▇▇▇▇ hereunder shall automatically terminate.