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 herein shall be deemed to include any and all assignees or sublessees of Successor Lessee under the Lease.
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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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Examples of Successor Lessee in a sentence

  • 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.

  • The last payment to be made by the Owner Participant is returned to it on the very day paid, either in the form of the Purchase Option Price, as the most likely option to be exercised, or the initial lease payment under the Successor Lessee option.

  • In this case, the requirement that the Lessee make an “inducement” payment to any Successor Lessee should that party hesitate to enter into the Replacement Lease indicates that the rental rates for a Replacement Lease were not set at the then fair market value.

  • Were this to happen, Lessee might be unable to secure a Successor Lessee, since the payment to induce the Successor Lessee would not be less than the outstanding loan balance.

  • Similarly, since the Lessee must reimburse or compensate any Successor Lessee for the difference between the rentals required under the schedules provided in the Participation Agreement and Lease and the actual rentals such Successor Lessee is willing to pay, the economic rationale to the Lessee for exercising the Replacement Lease Option is similarly limited.

  • Instead, the rental schedules in the documents appear to have been determined more by reference to the need to repay the amountloaned by Lender, Taxpayer’s Contribution and Interim Loan Payment, and to guarantee the Taxpayer’s return on investment.Moreover, assuming rental rates increase, under the documents, the Trustee has the right to reject the Successor Lessee chosen by Lessee and recover theEquipment.

  • Consequently, if the Equipment declines in value to the point referred to in the text, the Lessee might have to make a significant payment to induce a Successor Lessee into the transaction.

  • Successor Lessee shall (i) be a "Permitted Transferee" (as hereinafter defined) and (ii) either (y) be (1) at least fifty percent (50%) owned by Fee Owner or persons that are its "Affiliates" (as hereinafter defined) and (2) controlled by Fee Owner or its Affiliates or (z) have complied with the requirements of Section 11 of the applicable License Agreement.

  • The Lessor will, however, consent to the subsequent transfer to a Successor Lessee or Lessees if the proposed successor or successors to the Lessee's interest would have been acceptable to the Lessor for the Premises in the reasonable exercise of the Lessor's judgment considering the successors experience, financial strength, history of meeting contractual obligations and intent to implement a business plan consistent with the Lessor’s plan for operating the Airport.

  • Successor Lessee shall also enter into a management agreement with Promus covering the Hotel for a term equal to the balance of the original term of the Management Agreement covering the Hotel and otherwise on the terms and conditions set forth in such Management Agreement.


More Definitions of Successor Lessee

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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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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Related to Successor Lessee

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

  • Successor Operator means a Train Operator succeeding or intended by the Secretary of State to succeed (and whose identity is notified to the Franchisee by the Secretary of State) the Franchisee in the provision or operation of all or any of the Franchise Services including, where the context so admits, the Franchisee where it is to continue to provide or operate the Franchise Services following termination of the Franchise Agreement;

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

  • Sub-Lessee means a lease/license by a Lessee of part or all of leased space to another person.

  • 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 Crown Castle International Corp., a Delaware corporation, prior to the merger with Crown Castle REIT Inc., resulting in 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.