Property Ground Lease definition

Property Ground Lease means that certain Ground Lease of the Property between the Borrower and Tenant dated December 30, 1988, as the same has been and may hereafter be amended and/or restated from time to time.
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Examples of Property Ground Lease in a sentence

  • Other than as set forth in the Schwab Lease, no person, firm or entity has any rights to acquire an ownership interest in the Property including, without limitation, any rights of first refusal, rights of reverter or rights of first offer relating to the Property, Ground Lease, Sublease or PXLA’s interest in the Schwab Lease.

  • From the Effective Date until Closing, Seller shall, and shall cause Property Owner, to continue to operate, manage and maintain the Real Property, Ground Lease, Sublease, Improvements and other Property in the ordinary course of its business and substantially in accordance with its present practice, subject to ordinary wear and tear and damage caused by any Schwab Party and further subject to Article XI of this Agreement.

  • None of AFE, PXR, PXURA and PXLA has entered into any written contracts for the sale of the Property, Ground Lease, Sublease, PXLA’s interest in the Schwab Lease or Seller’s LLC Interests which remain binding on any of AFE, PXR, PXURA and PXLA and, other than provided in the Schwab Lease, none of Columbia, Harsimus, AFE, PXR, PXURA and PXLA has granted, directly or indirectly, any currently effective options to purchase the Property, Ground Lease, Sublease or PXLA’s interest in the Schwab Lease.

  • Action: Trustee Pierce-Moore moved the approval of Resolution 14-10-22 the Real Property Ground Lease with Roosevelt.

  • In the event Borrower fails to comply with this Section 7.1.16(f), the Swift Spinning Property Ground Lease will immediately, as of the occurrence, cease to qualify as a Qualified Ground Lease and the applicable Property shall cease to qualify as an Unencumbered Real Property hereunder.

  • The Kentucky East End Property Ground Lease shall be recorded in the applicable real property records in the county where such real property is located, and every such recorded instrument shall contain a covenant prohibiting the tenant(s) from filing a complaint or instituting any procedure at law or in equity to have the real or personal property interest arising under the Kentucky East End Property Ground Lease partitioned in accordance with any other law.

  • If additional Indiana Downtown Property is acquired pursuant to Subsection 5.2.1 above after commencement of construction of Sections 2 and 3 of the Downtown Crossing, the Indiana Parties and the Kentucky Parties shall amend the Indiana Downtown Property Ground Lease to include such additional property within the Indiana Downtown Property Ground Lease.

  • At Project Termination, the Kentucky East End Property Ground Lease will terminate by its terms.

  • If additional Kentucky East End Property is acquired pursuant to Subsection 5.1.1 above after commencement of construction of Sections 4 and 5 of the East End Crossing, the Kentucky Parties and the Indiana Parties shall amend the Kentucky East End Property Ground Lease to include such additional property within the Kentucky East End Property Ground Lease.

  • TO HAVE AND TO HOLD the Improvements, Personal Property, Intangible Property, Ground Lease (collectively, the “Purchased Property”) unto Purchaser, its successors and assigns, forever.

Related to Property Ground Lease

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • 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.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

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

  • Financeable Ground Lease means, a ground lease reasonably satisfactory to the Administrative Agent on behalf of the Lenders, which must provide customary protections for a potential leasehold mortgagee (“Mortgagee”) such as (i) a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years, (ii) a provision that the ground lease will not be terminated until the Mortgagee has received notice of a default, has had a reasonable opportunity to cure and has failed to do so, (iii) provision for a new lease to the Mortgagee as tenant on the same terms if the ground lease is terminated for any reason, (iv) transferability of the tenant’s interest under the ground lease by the Mortgagee without any requirement for consent of the ground lessor unless based on delivery of customary assignment and assumption agreements from the transferor and transferee, (v) the ability of the tenant to mortgage tenant’s interest under the ground lease without any requirement for consent of the ground lessor and (vi) provisions that the tenant under the ground lease (or the leasehold mortgagee) has customary protections with respect to the application of insurance proceeds or condemnation awards attributable to the tenant’s interest under the ground lease and related improvements.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

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

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Company Leased Real Property has the meaning set forth in Section 3.14(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.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • Material Leased Real Property has the meaning set forth in Section 2.14.

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a 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.

  • Estate in Real Property A fee simple estate in a parcel of land.