Restructured Lease Savings definition

Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease, including (without limitation) the sum of (x) the aggregate reduction of base rent, percentage rent, CAM, real estate taxes, insurance, and deferred maintenance or maintenance obligations (including clean up) payable under a lease (exclusive of term shortening), and (y) the aggregate amount of any tenant improvement allowance dollars secured, minus any restructuring, termination or similar fees paid by the Company to the counterparty to the leased property, or any other party, in connection with the Restructured Lease. Where term is extended and the rent during such extended period is not specifically fixed or calculable within a leased property, Restructured Lease Savings shall be based on the last year's rent immediately prior to the extended period under a leased property.
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Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease for the seven (7) year period immediately following the execution of a Restructured Lease, including (without limitation) the sum of (x) the aggregate reduction of Base Rent (as defined below), percentage rent, CAM, real estate
Sample 1
Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease, including (without limitation) the sum of (x) the aggregate reduction of base rent, percentage rent, CAM, real estate taxes, insurance, and waived maintenance or maintenance obligations (including clean up) payable under a lease and (y) the aggregate amount of any tenant improvement allowance dollars secured and past due amounts and claims waived, minus any restructuring, termination or similar fees paid by the Company to the counterparty to the leased property, or any other party, in connection with the Restructured Lease. Where term is extended and the rent during such extended period is not specifically fixed or calculable within a leased property, Restructured Lease Savings for such extended term shall be calculated using the last year's gross rent immediately prior to the extended period under a leased property as the baseline (or, the contract rate for such term if the rent is fixed or calculable for such extended term under the lease) less the reduced gross rent for such extended period negotiated in connection with the restructuring.
Sample 1

Examples of Restructured Lease Savings in a sentence

  • These aforementioned projections will be used to calculate Hilco’s Restructured Lease Savings when compared to the scheduled lease rents for each such Restructured Lease converted to a variable or percentage of sales structure.

  • Pursuant to the Engagement Agreement, with certain exceptions, for each lease that becomes a Restructured Lease, Hilco earns a fee equal to a base fee of $1,500 plus the aggregate Restructured Lease Savings multiplied by four percent (4.00%).

  • For each Lease that becomes a Restructured Lease, Hilco shall earn a fee equal to the Restructured Lease Savings Fee.

  • To the extent the Company’s rents under certain Restructured Leases are converted to a percentage of sales or revenue, the Company and Hilco shall agree in good faith to an appropriate sales projection on a portfolio basis for the period of such savings to determine Hilco’s Restructured Lease Savings Fee.

  • For each Lease that becomes a Restructured Lease,7 Hilco shall earn a fee equal to the Restructured Lease Savings Fee.

  • The aggregate amount of Restructured Lease Savings Fees and Term Shortened Lease Fees due and payable to Hilco hereunder shall be subject to a cap in the amount of $1,000,000 (inclusive of the Initial Fee).

  • The transaction price for each service is allocated to each performance obligation.

  • For the avoidance of doubt, and except as set forth in the immediately preceding sentence, rent to be paid during the extended or renewed term shall not be used to offset net savings in calculating Restructured Lease Savings.

  • For the avoidance of doubt, Hilco shall be entitled to a Restructured Lease Savings Fee and a Term Shortened Fee on account of the same Lease, if applicable; provided, however, the calculation of Restructured Lease Savings shall not include savings on account of term shortening.

  • The invoices provided to the Debtor, U.S. Trustee, and Committee Counsel shall be attached to Hilco’s final fee application and shall include a list of any and all leases that are determined to be Restructured Leases and/or Term Shortened Leases, the amount of the Restructured Lease Savings Fee for each Restructured Lease, the amount of the Term Shortened Lease Fee for each Term Shortened Lease, and how such fees were calculated.


More Definitions of Restructured Lease Savings

Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease, including (without limitation) the sum of (x) the aggregate reduction of Base Rent (as defined below), percentage rent, CAM, real estate taxes, insurance, and deferred maintenance or maintenance obligations (including clean up) payable under a lease (exclusive of term shortening), and (y) the aggregate amount of any tenant improvement allowance dollars secured, minus any restructuring, termination or similar fees paid by the Debtors to the counterparty to the leased property, or any other party, in connection with the Restructured Lease. Where term is extended or renewed and the rent during such extended or renewed period is not specifically fixed or calculable pursuant to the terms of the Lease, Restructured Lease Savings for such extended or renewed term shall be calculated using the last year's Base Rent immediately prior to the extended or renewed period under such Lease as the baseline (or, the Base Rent for such option term if the rent is fixed or calculable for the option term under the Lease) less the reduced Base Rent for such extended or renewed period negotiated in connection with the restructuring. For the avoidance of doubt, and except as set forth in the immediately preceding sentence, rent to be paid during the extended or renewed term shall not be used to offset net savings in calculating Restructured Lease Savings. As used herein, “Base Rent” means one month’s base rent, which shall not include any other costs or expenses, including CAM, real estate taxes, deferred maintenance or maintenance obligations (such as clean up).
Sample 1
Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease, including (without limitation) the sum of (x) the aggregate reduction of Base Rent (as defined below), percentage rent, CAM, real estate
Sample 1
Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease that is achieved over the shorter of (1) the current term of the Lease (as such term may be extended by the Restructured Lease) or (2) for the seven (7) year period immediately following the execution of a lease modification (herein the “Base Term”(, including (without limitation) the sum of
Sample 1Sample 2
Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease, including (without limitation) the sum of
Sample 1
Restructured Lease Savings means an amount equal to the net savings created by a Restructured Lease, including (without limitation) the sum of (x) the aggregate reduction of base rent, percentage rent, CAM, real estate taxes, insurance, and deferred maintenance or maintenance obligations (including clean up) payable under a lease (exclusive of term shortening), and (y) the aggregate amount of any tenant improvement allowance dollars secured (and payable without condition other than the passage of time and submission of appropriate invoices related to such tenant improvements), minus any restructuring, termination or similar fees paid by the Company to the counterparty to the leased property, or any other party, in connection with the Restructured Lease. Where term is extended and the rent during such extended period is not specifically fixed or calculable within a leased
Sample 1

Related to Restructured Lease Savings

  • Restructured Loan means a Single Family Shared-Loss Loan for which the Assuming Institution has received a Restructuring Loss payment from the Receiver. This applies to owner occupied and investor owned residences.

  • Restructured Bond or Loan means an Obligation that is a Bond or Loan and in respect of which the relevant Restructuring has occurred.

  • Capital Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person and the amount of such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

  • Capital Asset means, with respect to the Borrower and its Subsidiaries, any asset that should, in accordance with GAAP, be classified and accounted for as a capital asset on a Consolidated balance sheet of the Borrower and its Subsidiaries.

  • Finance Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a finance lease that would at such time be required to be capitalized and reflected as a finance lease on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Finance Lease Obligations means, at the time any determination thereof is to be made, the amount of the liability in respect of a Finance Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP; provided that Finance Lease Obligations shall, for the avoidance of doubt, exclude all Non-Finance Lease Obligations.

  • Digital asset means an electronic record in which an individual has a right or interest. The term does not include an underlying asset or liability unless the asset or liability is itself an electronic record.

  • Structured settlement agreement means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement.

  • Capital Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Sale and Lease-Back Transaction shall have the meaning assigned to such term in Section 6.03.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Finance Lease means any lease or hire purchase contract which would, in accordance with the Accounting Principles, be treated as a finance or capital lease.

  • Structured settlement means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers’ compensation claim.

  • Capital Lease Obligations of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

  • Capitalized Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Structured group means a group that is not randomly formed for the immediate commission of an offence and that does not need to have formally defined roles for its members, continuity of its membership or a developed structure;

  • Capitalized Lease Obligations of a Person means the amount of the obligations of such Person under Capitalized Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Capital Assets means, with respect to any person, all equipment, fixed assets and Real Property or improvements of such person, or replacements or substitutions therefor or additions thereto, that, in accordance with GAAP, have been or should be reflected as additions to property, plant or equipment on the balance sheet of such person.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Consolidated Lease Expense for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries for such period with respect to leases of real and personal property, determined on a consolidated basis in accordance with GAAP.

  • Recapture Income means any gain recognized by the Partnership (computed without regard to any adjustment required by Section 734 or Section 743 of the Code) upon the disposition of any property or asset of the Partnership, which gain is characterized as ordinary income because it represents the recapture of deductions previously taken with respect to such property or asset.

  • Digital Assets means electronic files for which a fee has been paid that are downloaded and stored on home electronic equipment, computers or mobile phones. “Digital assets” does not include downloaded files pertaining to “your” “business”.

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.