Vacation rental means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act.
Rental agreement or "lease agreement" means all agreements, written or oral, and valid rules and
Sublease Agreement shall have the meaning specified in Section 8.2(b).
Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.
Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.
Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.
Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.
Second Amendment means that certain Second Amendment to Term Loan Credit Agreement, dated as of May 20, 2020, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.
this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.
Sublease Payment means any payment required to be made by the District pursuant to Article 7 of the Sublease.
Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.
Existing Lease shall have the meaning assigned thereto in Section 10.7.
Base Rent As defined in Section 3.1.
Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.
Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);
Second Amendment Date means the date of the Second Amendment.
Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.