PILOT Lease definition

PILOT Lease means each of the PILOT leases described on Schedule VII hereto pursuant to which the applicable Individual Borrower owns a leasehold interest in its Individual Property (or any portion thereof).

PILOT Lease. As defined in the Mortgage Loan Agreement.

PILOT Lease means the lease from the HEB to the developer of property subject to this Program.

Examples of PILOT Lease in a sentence

• Amendments and other documentation, including, but not limited to joinder/estoppel fees, assignment/consents to or for existing PILOT Lease Agreements shall require a fee of $1,000.

• The applicable Individual Borrower has not received any written notice from another party to such PILOT Lease or PILOT Document, as applicable, reducing the tax abatement in favor of such Individual Borrower or Tenant or terminating such PILOT Lease or PILOT Document, as applicable.

• Borrower will not cause or permit Mortgage Borrower to subordinate or consent to the subordination of the PILOT Lease and/or PILOT Document, as applicable, to any mortgage, security deed, lease or other interest on or in the PILOT Lessor’s interest in all or any part of any fee interest in the PILOT Properties or the Security Instrument, unless, in each such case, the written consent of Lender shall have been first obtained.

• For the avoidance of doubt, any amounts due and payable by the applicable Individual Borrower pursuant to the terms of the PILOT Lease and/or the PILOT Document, as applicable, (excluding any amounts owed in connection with the acquisition of the fee title to the PILOT Property) shall be deemed Taxes for the purpose of this Section 8.6.

• PILOT Lessor may not amend, rescind or terminate the PILOT Lease without the prior written consent of Lxxxxx.

More Definitions of PILOT Lease

PILOT Lease means each of the PILOT leases described on Schedule 4.1.42 hereto.

PILOT Lease means, a lease entered into in accordance with Section 5.1.23(a) hereof in connection with a Permitted PILOT Arrangement.

PILOT Lease means that certain Lease Agreement, dated as of March 1, 2006, by and between the City and the Borrower.

PILOT Lease means the lease from one of the Bond Boards to the developer of property subject to this Program.

PILOT Lease means that certain Real Property Lease Agreement dated December 31, 1999 between The Industrial Development Board of the City of Memphis and County of Shelby, Tennessee (the “IDB”), as lessor, and Seller, as lessee, recorded as Instrument No. JY 0086 in the Register’s Office of Shelby County, Tennessee.

PILOT Lease means the lease agreement to be dated as of the closing of the Mortgage Loan, by and between the Borrower and [the Issuer], as PILOT Lessor, in connection with the Project.

PILOT Lease. See the introductory paragraph of this Lease; (cc) “Plans and Specifications” – See Section 3.1;