Successor Lessee definition

Successor Lessee means any assignee of or successor to the interest hereunder of Xxxxxxx Xxxxx L.P. and North River Operating Company L.P. that is permitted under Article 8 hereof.
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Successor Lessee means the tenant under the Primary Leases in the event of a sale of all of the assets of Lessee or all of the membership interests of Lessee permitted under Section 7.3 of the Mortgages or, in the event Borrower shall enter into a replacement of the Primary Lease in accordance with the provisions of Section 8 hereof, the tenant under such replacement Primary Lease.
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Successor Lessee herein shall be deemed to include any and all assignees or sublessees of Successor Lessee under the Lease.
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Examples of Successor Lessee in a sentence

  • Upon a Foreclosure Event under a Leasehold Mortgage, the Leasehold Mortgagee or Successor Lessee shall succeed only to the Leasehold Estate.

  • If no Successor Lessee or Lessees are found in such one (1) year period to occupy at least 50% of the Premises and Improvements, then all of the Lessee's, Leasehold Mortgagee's and Transferee's interests in the Premises, the Improvements, and this Lease shall terminate in their entirety, without any right of recovery or compensation from the Lessor.

  • Current certificates evidencing such insurance, and copies of the insurance policies, in form and substance acceptable to Lessor shall be furnished by Successor Lessee to Lessor at all times during the term of the Lease.

  • No successor Leasehold Mortgagee’s interest in the Leasehold Estate (“Successor Lessee”) shall have any rights under the Lease unless and until such Successor Xxxxxx has executed, acknowledged, and delivered to the County an instrument, in recordable form, by which Successor Lessee assumes all obligations under the Lease (except as otherwise provided in the Lease), subject to all terms of the Lease, including terms that limit the liability of any Lessee.

  • A Successor Lessee shall have the right, without obtaining the consent of Lessee or The Regents, to assign all or part of the Successor Lessee’s interest under this Lease as security to any Lender that has advanced funds to the Successor Lessee pursuant to a promissory note (hereinafter “Note”) and a mortgage or deed of trust (hereinafter “Condominium Mortgage”).

  • Lessor acknowledges that Lessee has transferred its interest under the Lease to Successor Lessee.

  • If this Lease is subordinate to any Mortgage and the Mortgagee shall succeed to the interest of Lessor pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), at the election of the Successor, Lessee shall attorn to the Successor and this Lease shall continue in full force and effect between the Successor and Lessee.

  • All proceeds of casualty insurance shall be made payable jointly to Lessor, Successor Lessee, Trustee and their respective successors and assigns.

  • If Lessee (as debtor in possession) or a trustee in bankruptcy for Lessee rejects this Lease in any Bankruptcy Proceeding affecting Lessee, then such rejection shall be deemed Xxxxxx's assignment of the Lease and the Leasehold Estate to a Successor Lessee (to be designated by Xxxxxx's Leasehold Mortgagee(s)), in the nature of an assignment in lieu of foreclosure, subject to all Leasehold Mortgages.

  • Tenant agrees that if Tenant has not received from Landlord, within forty-five (45) days after the date of this Amendment, written notice from Landlord stating Successor Lessee and Landlord have executed a lease for the Reduction Space (“Landlord’s Notice”), then this Amendment shall be null and void as of the expiration of such forty-five (45) days.


More Definitions of Successor Lessee

Successor Lessee means each and every Person holding the rights and interest of lessee under any Ground Lease as to all or any portion of the Property and shall include sublessees.
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Successor Lessee shall have the meaning set forth in Section 8.20(b)(ii). Tenant shall mean any subtenant, sub-subtenant or permittee occupying all or a portion of the Facility Realty. Tenant Lease shall mean any agreement with a Tenant relating to the use and occupancy of all or a portion of the Facility Realty. Term shall have the meaning set forth in Section 4.2. Termination Date shall mean such date on which this Agreement may terminate pursuant to its terms and conditions prior to the Expiration Date.
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Successor Lessee means any person or persons, who, as a purchaser, assignee, sublessee, or otherwise, is a successor in interest to Lessee with respect to an undivided one/sixty fourth (1/64th) interest in the Premises pursuant to the provisions of this Lease.
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Related to Successor Lessee

  • Successor Landlord shall have the meaning given such term in Section 20.2.

  • Successor Guarantor shall have the meaning specified in Section 11.02(a).

  • Successor in Interest means any (i) shareholder of; (ii) trustee, custodian, receiver or other person acting in any Bankruptcy or reorganization proceeding with respect to; (iii) assignee for the benefit of the creditors of; (iv) officer, director or partner of; (v) trustee or receiver, or former officer, director or partner, or other fiduciary acting for or with respect to the dissolution, liquidation or termination of; or (vi) other executor, administrator, committee, legal representative or other successor or assign of, any Partner, whether by operation of law or otherwise.

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Successor Company shall have the meaning specified in Section 11.01(a).

  • Successor personal representative means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative.

  • Successor Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Successor Manager Any Independent Contractor as selected or retained by the Special Servicer, on behalf of the Trustee for the benefit of the Trust and the Companion Loan Holders, to serve as manager of a Foreclosed Property, which designation, as evidenced by written confirmation from each Rating Agency, shall not result in the downgrade, withdrawal or qualification of the ratings assigned to the Certificates by such Rating Agency.

  • Successor Master Servicer The meaning ascribed to such term pursuant to Section 8.02.

  • Successor in Interest of Borrower means any party that has taken title to the Property, whether or not that party has assumed Borrower’s obligations under the Note and/or this Security Instrument.

  • Transferee Any Person who is acquiring by Transfer any Ownership Interest in a Certificate.

  • Successor Issuer has the meaning assigned to it in Section 4.1(a).

  • Sublessee means any party to whom Lessee grants the right to possess all or any portion of the Premises according to a Sublease.

  • Successor means an entity that has replaced a predecessor by acquiring the assets and carrying out the affairs of the predecessor under a new name (often through acquisition or merger). The term "successor" does not include new offices/divisions of the same company or a company that only changes its name. The extent of the responsibility of the successor for the liabilities of the predecessor may vary, depending on State law and specific circumstances.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Successor Index means any substitute index approved by the Calculation Agent as a Successor Index pursuant to Section 3 hereof.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • Successor Borrower has the meaning assigned to such term in Section 6.07(a).

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Predecessor Company means an entity whose ownership, title and interest, including all rights, benefits, duties and liabilities were acquired in an uninterrupted chain of succession by the company.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • successor in business means any company which, as a result of any amalgamation, merger or reconstruction: (a) owns beneficially the whole or substantially the whole of the undertaking, property and assets owned by the Issuer immediately prior thereto; and (b) carries on, as successor to the Issuer, the whole or substantially the whole of the business carried on by the Issuer immediately prior thereto.

  • Predecessor Certificate means a Predecessor Corporate Units Certificate or a Predecessor Treasury Units Certificate.

  • Successor Corporation means a corporation, or a parent or subsidiary thereof within the meaning of Section 424(a) of the Code, which issues or assumes a stock option in a transaction to which Section 424(a) of the Code applies.

  • Successor Institutional Trustee has the meaning set forth in Section 4.3(a).

  • New Owner means, collectively, the HDFC and the Company.