Leasehold Estate Sample Clauses

Leasehold Estate. Each Mortgaged Property consists of a fee simple estate in real estate or, if the related Mortgage Loan is secured in whole or in part by the interest of a Mortgagor as a lessee under a ground lease of a Mortgaged Property (a "Ground Lease"), by the related Mortgagor's interest in the Ground Lease but not by the related fee interest in such Mortgaged Property (the "Fee Interest"), and as to such Ground Leases:
Leasehold Estate. If any Mortgage Loan is secured by the interest of a Mortgagor as a lessee under a ground lease of all or a material portion of a Mortgaged Property (together with any and all written amendments and modifications thereof and any and all estoppels from or other agreements with the ground lessor, a "Ground Lease"), but not by the related fee interest in such Mortgaged Property or such material portion thereof (the "Fee Interest"), then:
Leasehold Estate. The Authority will be, on the date of the delivery of the Bonds, the owner and lawfully possessed of the leasehold estate described in the Site Lease, and the Facilities Lease will be, on the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site Lease, the Site Lease will be lawfully made by the County and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities Lease, and the Facilities Lease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities Lease, or would or might be a ground for cancellation or termination of the Facilities Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Lease, will deliver the same, or a copy thereof, to the Trustee.
Leasehold Estate. The following Mortgage loan(s) are secured in whole or in part by the interest of the borrower as a lessee under a Ground Lease.
Leasehold Estate. The rights granted to Tenant under this Lease.
Leasehold Estate. 5 INDEX OF DEFINED TERMS (continued) DEFINED TERM PAGE ------------ ----
Leasehold Estate. Lessee hereby represents and covenants:
Leasehold Estate. Each Mortgaged Property consists of the related Mortgagor's fee simple estate in real estate (the "Fee Interest") or the related Loan is secured in whole or in part by the interest of the related Mortgagor as a lessee under a ground lease of the Mortgaged Property (a "Ground Lease"), and if secured in whole or in part by a Ground Lease, either (1) the ground lessor's fee interest is subordinated to the lien of the Mortgage and the Mortgage will not be subject to any lien or encumbrances on the ground lessor's fee interest, other than permitted encumbrances, and the holder of the Mortgage is permitted to foreclose the ground lessor's fee interest within a commercially reasonable time period or (2) the following apply to such Ground Lease:
Leasehold Estate. The term “Leasehold Estate” means Tenant’s leasehold estate in any Property owned by Landlord in fee and demised under this Restated Lease and, in the case of a Property owned by a Third Party Lessor, the Leemilt’s Lessor, the Power Test Lessor or the Gettymart Lessor, Tenant’s subleasehold estate demised under this Restated Lease, in all cases upon and subject to all the terms and conditions of this Restated Lease.
Leasehold Estate. With respect to Mortgage Loan No. __, Westin Palo Alto, the ground lease does not contain certain of the lender protection provisions set forth in this representation; however, the fee owner is joined as a co-grantor under the deed of trust. Mortgage Loan No. ___, Hampton Inn, Fultondale is leased pursuant to a ground lease that expires in 2018. The borrower has the option to purchase the fee for a price of $20,000 plus expenses, at lease maturity. The lender has escrowed $21,000 and has been granted the right to exercise the purchase option on behalf of the borrower. With respect to Mortgage Loan No. ___, DePaul Medical Office, the ground lease cannot be assigned without the consent of the fee owner, except with respect to an assignment to the securitization trustee. The ground lease also imposes certain use restrictions on the Mortgaged Property.