Substitute Lease definition
Examples of Substitute Lease in a sentence
As of the initial Determination Date, or the effective date of the transfer of any Additional Lease or Substitute Lease, each Lessee has paid the first scheduled installment of rent under its respective Lease.
Landlord, in Landlord’s sole discretion, determines that any such expenditure is financially justified in connection with entering into any such Substitute Lease.
As of the initial Determination Date, or the effective date of the transfer of any Additional Lease or Substitute Lease, each Lessee has paid at least one installment of rent under its respective Lease.
Eligible Lease - a Lease that satisfies the representations and -------------- warranties set forth in Section 2.04, 2.05(b) and 2.08 and, in the case of a Substitute Lease or Additional Lease, the applicable requirements of Section 11.
In the event of an early lease termination, any Substitute Lease must have a Discounted Present Value equal to or greater than that of the Terminated Lease, monthly payments at least equal to those of the Terminated Lease through the remaining term of such Terminated Lease, a remaining term less than or equal to that of the Terminated Lease and a Booked Residual Value at least equal to that of such Terminated Lease.