Subdivision Master Lease definition

Subdivision Master Lease has the meaning set forth in Section 6.27(a). “Subdivision Properties” has the meaning set forth in Section 6.27(a).
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Examples of Subdivision Master Lease in a sentence

  • Upon completion of a Required Subdivision affecting an Owned Real Property that is subject to the Subdivision Master Lease, the Subdivision Master Lease shall be terminated as to such Owned Real Property and such Owned Real Property shall be conveyed to Purchaser by Quitclaim Deed for One Dollar ($1.00) in stated consideration.

  • To the extent that any Required Subdivision for a Subdivision Property is not completed prior to Closing, then at Closing, Sellers shall lease to Purchaser only that portion of such Subdivision Property that constitutes Owned Real Property pursuant to a mutually acceptable lease (the “Subdivision Master Lease”), which is consistent with the terms contained in the Subdivision Master Lease Term Sheet attached hereto as Exhibit L (the “Subdivision Master Lease Term Sheet”).