Significant Lease definition

Significant Lease means, as to any particular Property, each Lease which constitutes 20% or more of all base rent revenue of such Property.

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Significant Lease means, as to any particular Real Property, each Lease which constitutes 30% or more of all base rent revenue of such Real Property.

Significant Lease means, for any specified calendar year, any Lease under which the Company or one of its Subsidiaries is the lessor and which Lease provides for annual minimum cash rent payments of $2,000,000 or more during such calendar year (notwithstanding the amount of lease payments in prior or subsequent years).

Examples of Significant Lease in a sentence

• Schedule 6.26 hereto identifies each Significant Lease in existence on the date hereof, the Property which is demised pursuant to each Significant Lease and the name of each landlord and lessee under each Significant Lease.

• Notwithstanding anything to the contrary contained in the foregoing, the Facility Lessee shall not have any right to take any action otherwise permitted pursuant to this Section 5.20 if a Significant Lease Default or Lease Event of Default shall have occurred and be continuing.

• The Borrower and each Subsidiary shall at all times maintain accurate and complete records of each Significant Lease.

• Schedule 6.25 hereto identifies each Significant Lease in existence on the date hereof, the Property which is demised pursuant to each Significant Lease and the name of each landlord and lessee under each Significant Lease.

• So long as no Significant Lease Default has occurred and is continuing, any gain (including interest received) realized as the result of any such Permitted Instrument (net of any fees, commissions, taxes and other expenses, if any, incurred in connection with such Permitted Instrument) shall be applied or remitted to the Facility Lessee in the same manner as the principal invested.

More Definitions of Significant Lease

Significant Lease means (a) any lease of real or personal property, or any sublease of real property, by a Party, as lessee, pursuant to which such Party reasonably anticipates the payment of aggregate rent, Taxes, insurance, utilities (if applicable) and other charges in excess of $100,000 over the remaining term of the lease, exclusive of all optional renewal periods and optional extensions of the term (provided, however, that any such lease shall not be deemed a Significant Lease in the event that such Party has the contractual right to terminate the lease in question on 30 days' notice or less, without incurring a penalty or premium in excess of $100,000); or (b) any lease of real or personal property, or any sublease of real property, by such Party, as lessor, pursuant to which such Party reasonably anticipates the collection of aggregate rent in excess of $100,000 over the remaining term of the lease, exclusive of all optional renewal periods and extensions of the term (provided, however, that any such lease shall not be deemed a Significant Lease in the event that such Party has the contractual right to terminate the lease in question on 30 days' notice or less, without incurring a penalty or premium in excess of $100,000).

Significant Lease means, as to any particular Eligible Property, each Lease which constitutes 25% or more of all base rent revenue of such Eligible Property and is greater than $250,000 in annual base rent.

Significant Lease means any office Lease in excess of 50,000 net rentable square feet that is not a Major Lease.

Significant Lease means any office Lease which, together with any office Leases to one or more Affiliates of the proposed tenant thereunder, would demise in excess of 50,000 net rentable square feet, in each case, inclusive of any Expansion Space; provided, however, in the event that Lender shall disapprove any office Lease which would not be a Significant Lease but for the inclusion of Expansion Space, then if such proposed Lease is modified to remove the option applicable to such Expansion Space such that the Lease is no longer a Significant Lease, then such Lease shall cease to be deemed a Significant Lease (for the avoidance of doubt and notwithstanding the forgoing, such office Lease shall otherwise be required to comply with the terms and conditions of Section 9.4).

Significant Lease meansshall mean, as to any particular Real Property, each Lease which constitutes 30% or more of all base rent revenue of such Real Property.

Significant Lease any lease at a Mortgaged Property if the lease affects an area in excess of the lesser of (i) 30% of the net rentable area of the Mortgaged Property and (ii) 30,000 square feet of the Mortgaged Property.

Significant Lease means, with respect to the Company, (a) any lease of Real or Personal Property, or any sublease of Real Property, by the Company, as lessee or sublessee, pursuant to which the Company reasonably anticipates the payment of aggregate rent, taxes, insurance, utilities (if applicable) and other charges in excess of Twenty Five Thousand Dollars ($25,000) over the remaining term of such lease or sublease, exclusive of all optional renewal periods and optional extensions of the term thereof (provided, however, that any such lease or sublease shall not be deemed a Significant Lease in the event that the Company has the contractual right to terminate such lease in question on thirty (30) days' notice or less without incurring a penalty, premium, or other expense in excess of Twenty Five Thousand Dollars ($25,000)), and (b) any lease of Real or Personal Property, or any sublease of Real Property, by the Company as lessor or sublessor.