Acquired Ground Lease definition

Acquired Ground Lease. Schedule V
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Acquired Ground Lease means each ground lease entered into by Brazos under which a leasehold interest in a Property is being leased to Brazos by the owner of such Property.
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Acquired Ground Lease. Schedule V “Act” - Schedule V “Approved Annual Budget” - 4.9.5 “Approved Excess Operating Expense” - 4.9.6
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Examples of Acquired Ground Lease in a sentence

  • Brazos and Agent shall have received a list of all Liens of Record and of all other Liens known to Lessee against the Property and the amounts thereof and, in the case of an Acquired Ground Lease, an estoppel certificate from the lessor confirming that there are no defaults under the Acquired Ground Lease and such other information satisfactory to Brazos and Agent.

  • Lessee shall lease (or in the case of Property under an Acquired Ground Lease, shall sublease) such Property from Brazos pursuant to the Ground Lease in accordance with the procedures of SECTION 2.3 hereof.

  • The Property is being acquired pursuant to the Purchase Option Agreement or Acquired Ground Lease accompanying this Certificate (being a true, complete, and correct copy thereof and of all amendments thereto).

  • Subject to the provisions of Section 5.2 of the Agreement for Ground Lease, Lessee shall pay all costs, expenses, fees and charges incurred in connection with the ownership, use or occupancy of any Property during the Lease Term and Renewal Term, if any, thereof, including, without limitation, any rent under an Acquired Ground Lease.

  • In the event the title insurance policy insuring Brazos' and Assignee's interest in any Property would not, in the absence of special assurance by Lessee, become effective until the date of recordation of the deed or assignment of the Acquired Ground Lease, as applicable, then Lessee shall furnish such indemnity to the title insurance company as it shall require in order to insure Brazos' interest in such Property, effective as of the date of the Effective Date.

  • The Effective Date of the lease or sublease of each Property shall be the date of the initial advance with respect to such Property under the Agreement for Ground Lease or the Effective Date of any Acquired Ground Lease.

  • The Additional Property is being acquired pursuant to the Purchase Option Agreement or Acquired Ground Lease accompanying this Certificate (being a true, complete, and correct copy thereof and of all amendments thereto) and is contiguous to Property No. ___________.

  • In the event a Property is the subject of an Acquired Ground Lease and this Ground Lease is not being renewed or is being terminated as provided in this ARTICLE XI with respect to such Property, the Lessee shall assume all of Brazos' obligations under such Acquired Ground Lease as of the end of the term or the date of termination of this Ground Lease with respect to such Property and this Ground Lease shall terminate with respect to such Property.

  • If any Event of Property Termination with respect to a Property shall occur, Brazos may, with Agent's approval, as liquidated damages and not as a penalty, require Lessee to purchase such Property on the next Basic Rent Payment Date at a price equal to the Acquisition Cost for such Property by giving written notice of such required purchase or assume all obligations of Brazos under an Acquired Ground Lease.

  • Accompanying this Certificate is a copy of the form of Warranty Deed or Acquired Ground Lease by which the Additional Property will be conveyed or leased to Owner, which sets forth a true and complete legal description for the Additional Property.


More Definitions of Acquired Ground Lease

Acquired Ground Lease means each ground lease entered into by Brazos under which a leasehold interest in a Property is being leased to Brazos by the owner of such Property, including without limitation, the leases set forth on SCHEDULE 4.13 hereto.
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Acquired Ground Lease. Schedule V “Act” - Schedule V “ADA Repairs” - 6.2.1
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Acquired Ground Lease. Schedule V “Act” - Schedule V “Advance Booking Agreement” - Section 1.1- Definition of Advance Deposits “Agreement” - Introductory Paragraph
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Related to Acquired Ground Lease

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Material Leased Real Property shall have the meaning given in Section 3.7(b).

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Hotel Property means a Property on which there is located an operating hotel.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • Estate in Real Property A fee simple estate in a parcel of land.

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Real Property Leases means all leases, sub-leases, licenses or other agreements, in each case, pursuant to which any Group Company leases or sub-leases any real property.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.11(c).

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Acquired Property shall have the meaning set forth in Section 5.1.10(h)(i) hereof.