Safe harbor lease definition
Safe harbor lease means a lease that qualified as a safe harbor lease under
Safe harbor lease means a lease that qualified as a safe harbor lease under Section 168, Internal Revenue Code.
Safe harbor lease means, with respect to each Property, a Lease that (i) is on the Lease Form, without material modification thereto and otherwise complies with the leasing guidelines and Lease provisions hereunder and under the other Loan Documents, (ii) is entered into at arm’s length with a third party tenant that is not an Affiliate of any Borrower or any Guarantor, which tenant shall be creditworthy and reputable, (iii) the rentable area to be demised pursuant to such proposed Lease when combined with any other space at the applicable Property leased to such proposed tenant or an Affiliate of such propose tenant, is not more than 25,000 square feet, (iv) has an initial term of not less than three (3) years or, together with all renewal options (other than an single one (1) year renewal option), greater than fifteen (15) years, (v) has a minimum contract rent equal or greater than the rent paid by the tenant occupying the space on the Closing Date and provides for tenant improvement allowances and lease concessions in conformity with the then current market conditions as reasonably determined by Lender, (vi) does not contain any expansion options that, if exercised, would cause the premises under such proposed Lease when combined with any other space at the applicable Property leased to such proposed tenant or an Affiliate of such propose tenant to exceed 25,000 rentable square feet, (vii) is automatically self-subordinated to the applicable Mortgage and requires tenant to attorn to Lender or Lender’s successor in interest upon such party’s acquisition of title and at such party’s sole option, (viii) does not contain any requirement for a non-disturbance or recognition agreement or any other provision that might adversely affect Lender’s rights under the Loan Documents, (ix) does not contain any options to purchase, rights of first refusal to purchase any portion of any Property, or termination options (other than in the event of material casualty or condemnation), (x) does not contain any material restrictions on the landlord’s rights to lease remaining portions of the applicable Property, (xi) does not contain any extraordinary, uncustomary and unduly burdensome landlord obligations, or obligations that a landlord unaffiliated with Borrowers would have difficulty performing, (xii) does not grant the tenant thereunder any incentives equivalent to an ownership interest in any Property or grant the tenant thereunder any interest in the ownership of any Property, or other...
More Definitions of Safe harbor lease
Safe harbor lease means any proposed market Lease that meets the following criteria: (A) the base rent payable under such proposed Lease is not less than the base rent being paid being paid by the tenant occupying the space as of the date of this Mortgage; (B) the rentable area to be demised pursuant to such proposed Lease which, when combined with any other space in the Property leased to affiliated entities of the tenant under such proposed Lease, is less than 10,000 square feet, (C) such proposed Lease shall be for a term of no less than three (3) years and no greater than ten (10) years including any tenants extension options, and (D) such proposed Lease shall satisfy the additional leasing guidelines set forth below:
Safe harbor lease. As defined in Section 5.3(d).
Safe harbor lease means any proposed market Lease that meets the following criteria: (i) the rent payable under such proposed Lease is a rent that is no less than $6.00 per square foot on a triple-net basis, (ii) the rentable area to be demised pursuant to such proposed Lease which, when combined with any other space in the Property leased to affiliated entities of the tenant under such proposed Safe Harbor Lease, is less than 25,000 square feet, (iii) such Lease shall be for a term of no less than three (3) years and no greater than ten (10) years, including any tenant extension option(s); provided, however, that the term, including any extension options, may extend to fifteen (15) years if lease years 11-15 have a rental rate not less than the greater of (A) the rental rate for year 10 and (B) market rental rate, (iv) the tenant improvement allocation or allowance shall not exceed $10.00 per rentable square foot, unless Guarantor guarantees the payment of such allocation or allowance in excess of $10.00 per rentable square foot, and (v) such lease shall satisfy the additional leasing guidelines set forth in Section 5.3(e) below:
Safe harbor lease has the meaning set forth on Schedule 8 attached hereto.
Safe harbor lease means the agreement between American Airlines, Inc. and LKC regarding the participation of LKC in the purchase of the Federal Income Tax benefits in one Boeing 767 aircraft to be owned and operated by American Airlines, Inc., including all Schedules and Exhibits thereto, dated December 15, 1983.
Safe harbor lease means, with respect to each Property, a Lease that (i) is on the Lease Form, without material modification thereto and otherwise complies with the leasing guidelines and Lease provisions hereunder and under the other Loan Documents, (ii) is entered into at arm’s length with a third party tenant that is not an Affiliate of any Borrower or any Guarantor, which tenant shall be creditworthy and reputable, (iii) the rentable area to be demised pursuant to such proposed Lease when combined with any other space at the applicable Property leased to such proposed tenant or an Affiliate of such propose tenant, is not more than 25,000 square feet, (iv) has an initial t erm of not less than three (3) years or, together with all renewal options (other than an single one (1) year renewal option), greater than fifteen (15) years, (v) has a minimum contract rent equal or greater than the rent paid by the tenant occupying the space on the Closing Date and provides for tenant improvement allowances and lease concessions in conformity with the then current market conditions as reasonably determined by Lender, (vi) does not contain any expansion options that, if exercised, would cause the premises under such proposed Lease when combined with any other space at the applicable Property leased to such proposed tenant or an Affiliate of such propose tenant to exceed 25,000 rentable square feet, (vii) is automatically self-subordinated to the applicable Mortgage and requires tenant to attorn to Lender or Lender’s successor in interest upon such party’s acquisition of title and at such party’s sole option,