Ordinary Leases definition

Ordinary Leases. Collectively, all subleases, licenses, use agreements, equipment leases, concession agreements, tenancy at will agreements and other occupancy agreements (but excluding any Residency Agreement, Facility Lease or Major Lease), whether oral or in writing, entered into by Managers affecting a Facility. Overdue Rate: on any date, a rate of interest per annum equal to the greater of: (i) a variable rate of interest per annum equal to one hundred twenty percent (120%) of the Prime Rate, or (ii) twelve percent (12%) per annum; provided, however, in no event shall the Overdue Rate be greater than the maximum rate then permitted under Legal Requirements. Permits: collectively, all permits, licenses, approvals, qualifications, rights, variances, permissive uses, accreditation, certificates, certifications, consents, agreements, contracts, contract rights, franchises, interim licenses, permits and other authorizations of every nature whatsoever required by, or issued under, applicable Legal Requirements relating or affecting a Facility or the construction, development, maintenance, management, use or operation thereof, or the operation of any programs or services in conjunction with the Facility and all renewals, replacements and substitutions therefor, now or hereafter required or issued by any Governmental Authority, Accreditation Body or Third Party Payor to Owners or Managers. Permitted Exceptions: (i) all encumbrances to title present at closing pursuant to the Purchase Agreements; (ii) liens for Impositions not delinquent; (iii) easements, restrictions on use, zoning laws and ordinances, rights of way and other encumbrances and minor irregularities in title, whether now existing or hereafter arising, which are approved by Owner and do not individually or in the aggregate materially impair the use of any Facility.
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Ordinary Leases. Collectively, all subleases, licenses, use agreements, equipment leases, concession agreements, tenancy at will agreements and other occupancy agreements (but excluding any Residency Agreement, Facility Lease or Major Lease), whether oral or in writing, entered into by any of the Emeritus Entities and encumbering or affecting a Facility. Permits: Collectively, all permits, licenses, approvals, qualifications, rights, variances, permissive uses, accreditation, certificates, certifications, consents, agreements, contracts, contract rights, franchises, interim licenses, permits and other authorizations of every nature whatsoever required by, or issued under, applicable Legal Requirements relating or affecting a Facility or the construction, development, maintenance, management, use or operation thereof, or the operation of any programs or services in conjunction with the Facility and all renewals, replacements and substitutions therefor, now or hereafter required or issued by any Governmental Authority, Accreditation Body or Third Party Payor, or maintained or used by any of the Emeritus Entities, or entered into by any of the Emeritus Entities with any third Person with respect to a Facility.
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Examples of Ordinary Leases in a sentence

  • The provisions of this Section 5.8(b) shall not restrict the sale by the Company or its Subsidiaries of owned real property and the improvements thereon pursuant to and in accordance with the terms of Ordinary Leases which grant the lessee thereunder an option to purchase such owned real property and improvements thereon.

Related to Ordinary Leases

  • Ground Leases shall have the meaning set forth in Section 4.15.

  • 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.

  • Real Property Leases means all leases, sub-leases, licenses or other agreements, in each case, pursuant to which any Group Company leases or sub-leases any real 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.

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • 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.

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

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

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

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

  • FF&E Leases means all leases of any FF&E and other contracts permitting the use of any FF&E at the Improvements that are assumed by Buyer.

  • Facility Leases means agreements for the lease by the Company or any of its Subsidiaries or Joint Ventures of real estate utilized as a vehicle parking facility and/or for ancillary parking and transportation services.

  • Proprietary Lease With respect to any Cooperative Unit, a lease or occupancy agreement between a Cooperative Corporation and a holder of related Cooperative Shares.

  • Subleases means the Sublease(s) of even date herewith by and between the District and Contractor together with any duly authorized and executed amendment hereto under which the District subleases the Site from the Contractor.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

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

  • Other Leases means, collectively, the Lease Agreements between Landlord, or an Affiliate of Landlord, and Tenant with respect to the properties described on Exhibit B, but excluding any Lease Agreements terminated pursuant to their terms or by mutual agreement of the parties.

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

  • Real Estate Leases is defined in Section 4.7.

  • Material Leases has the meaning set forth in Section 3.7(a).

  • 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.

  • Leaseholds of any Person shall mean all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Leased Properties means all real property and interests in real property leased by the Company or one of its Subsidiaries.

  • 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.

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

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