Approved SunTrust Lease Property definition

Approved SunTrust Lease Property means any Property leased to SunTrust Bank, a Georgia banking corporation (“SunTrust”), under a lease agreement which is subject to a master agreement regarding leases (each, a “Master Agreement Regarding Leases”) between the Parent (or any of its Subsidiaries) and SunTrust, the terms of which relate to the initial extension or renewal of the term of the lease agreement for such Property for ten (10) years and subsequent extensions or renewals of five (5) years each; provided any applicable Property shall immediately cease to qualify as an Approved SunTrust Lease Property if (i) the lease agreement respecting such Property expires or is terminated, disavowed or rejected (whether pursuant to any bankruptcy or other similar proceeding or otherwise) or otherwise ceases to be enforceable against SunTrust, (ii) such Property shall for any reason cease to be subject to a Master Agreement Regarding Leases, or (iii) SunTrust fails to exercise, or fails to provide the Parent or the applicable Subsidiary (in each case, as required under the applicable Master Agreement Regarding Leases) with written or other permitted notice that SunTrust intends to exercise, any renewal or extension option provided to SunTrust under the applicable Master Agreement Regarding Leases with respect to such Property on the date or within the applicable time period provided in the applicable Master Agreement Regarding Leases for such exercise or delivery of notice.
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Related to Approved SunTrust Lease Property

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

  • Mixed-use property means an eligible property that includes three or more residential units and may also contain a commercial property component in the same building.

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

  • 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:

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

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit L, with such amendments, modifications or supplements thereto as may be approved by the Administrative Agent.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • 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).

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Adjacent Property means all land adjoining and surrounding the Stadium Site on which will be located any public streets, sidewalks, plazas, or bridges and any public or private parking facilities or other accoutrements to be developed by Authority or other parties in connection with the Project.

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

  • Leased Properties has the meaning set forth in Section 3.1(n)(ii).

  • Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed or (b) condominium units or cooperative apartments or (c) property on a homeowners’ association that is not owned in fee simple by the seller.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • adjacent land means all land that borders a property and all land that would have bordered a property, if they were not separated by a river, road, railway line, power transmission line, pipeline, or a similar feature;