Permitted Equipment Leases means equipment leases or other similar instruments entered into with respect to the Personal Property; provided, that, in each case, such equipment leases or similar instruments (i) are entered into on commercially reasonable terms and conditions in the ordinary course of Borrower’s business and (ii) relate to Personal Property which is (A) used in connection with the operation and maintenance of the Property in the ordinary course of Borrower’s business and (B) readily replaceable without material interference or interruption to the operation of the Property.
Permitted Equipment Leases shall have the meaning set forth in the Mortgage Loan Agreement.
Permitted Equipment Leases means financing leases and purchase money debt in connection with the financing or purchase of equipment and other personal property used on the Property, the removal of which would not materially damage any of the improvements thereon or materially impair the value of such improvements, in each case incurred in the ordinary course of operating the Property and not evidenced by a note or secured by property other than the item of equipment or personal property so financed.
Examples of Permitted Equipment Leases in a sentence
Any security interest arising from the Permitted Equipment Leases shall be limited solely to the collateral leased therein.
Mortgagor represents and warrants that, except for the Permitted Equipment Leases and any financing statement filed by Mortgagee, no presently effective financing statement covering the Personalty or Fixtures or any part thereof, has been filed with any filing officer, and no other security interest has attached or has been perfected in the Personalty or Fixtures or any part thereof.
International Organization for Standardization, Information Technology—Artificial intelligence— Transparency Taxonomy of AI Systems (ISO/IEC AWI 12792), Edition 1, https://www.iso.org/standard/84111.html (under development as of Jan.
Capital or operating leases of any items of Personal Property shall be deemed to be additional indebtedness for borrowed money and, except for Permitted Equipment Leases, shall require Lender's prior written consent.
Our paper also makes contact with the broader literature on how demographic changes a ect the macroeconomy.
More Definitions of Permitted Equipment Leases
Permitted Equipment Leases means capital and/or operating lease obligations in respect of equipment used at the Leased Property with an aggregate annual rent obligation reasonable and customary for facilities such as the Leased Properties, as mutually agreed upon by Landlord and Tenant.
Permitted Equipment Leases means equipment leases or other similar instruments or agreements entered into with respect to the Personal Property; provided, that, in each case, such equipment leases or similar instruments or agreements (i) are entered into on commercially reasonable terms and conditions in the ordinary course of Borrower’s business and (ii) relate to Personal Property which is (A) used in connection with the operation and maintenance of the applicable Individual Property in the ordinary course of Borrower’s business and(B) readily replaceable without material interference or interruption to the operation of such Individual Property.
Permitted Equipment Leases means equipment leases, equipment financings or other similar instruments entered into with respect to any Equipment and other personal property; provided, that, in each case, such equipment leases, equipment financings or similar instruments (i) are entered into (in Borrower’s good faith judgment) on commercially reasonable terms and conditions in the ordinary course of Borrower’s business and (ii) relate to Equipment and other personal property which is (A) used in connection with the operation, management, maintenance, repair or alteration of the Property in the ordinary course of Borrower’s business and (B) readily replaceable without material interference or interruption to the operation of the Property. For purposes of determining Indebtedness under Section 4.2.14 hereof with respect to Permitted Equipment Leases, Indebtedness shall refer to the outstanding principal balance of the Permitted Equipment Leases.
Permitted Equipment Leases shall have the meaning set forth in clause (xxiii) of the definition of “Special Purpose Entity” herein.
Permitted Equipment Leases means equipment leases or financing or other similar instruments entered into with respect to the Equipment and/or the Personal Property with respect to an Individual Property provided, that, in each case, such equipment leases, financing or similar instruments (i) are entered into on commercially reasonable terms and conditions in the ordinary course of Borrower’s business, and (ii) relate to Equipment and/or Personal Property which is (A) used in connection with the operation and maintenance of the Property in the ordinary course of Borrower’s business and (B) readily replaceable without material interference or interruption to the operation of the Property.
Permitted Equipment Leases means equipment leases or other similar instruments entered into by Borrower, Mortgage Borrower or Manager with respect to the Personal Property; provided, that, in each case, such equipment leases or similar instruments (i) are entered into on commercially reasonable terms and conditions in the ordinary course of Borrower’s or Mortgage Borrower’s business and (ii) relate to Personal Property which is (A) used in connection with the operation and maintenance of the Property in the ordinary course of Borrower’s or Mortgage Borrower’s business and (B) readily replaceable without material interference or interruption to the operation of the Property.
Permitted Equipment Leases means equipment leases or other similar instruments entered into with respect to the Equipment and/or the Personal Property provided, that, in each case, such equipment leases or similar instruments (i) are entered into on commercially reasonable terms and conditions in the ordinary course of Borrower's business, (ii) relate to Equipment and/or Personal Property which is (A) used in connection with the operation and maintenance of the Property in the ordinary course of Borrower's business and (B) readily replaceable without material interference or interruption to the operation of the Property, and (iii) have annual payments not exceeding $50,000.00 in the aggregate. "Permitted Prepayment Date" shall have the meaning set forth in Section 2.4.1 hereof. "Permitted Transfer Date" shall have the meaning set forthin Section 8.1 hereof. "Person" shall mean any individual, corporation, partnership, limited liability company, joint venture, estate, trust, unincorporated association, any other entity, any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such capacity on behalf of any of the foregoing. "Personal Property" shall have the meaning set forth in the granting clause of the Security Instrument. "Policies" shall have the meaning specified in Section 5.1.1(b) hereof. DMEAST #17478116 v7 12