Basic Lease Term definition

Basic Lease Term shall have the meaning specified in Section 3.1 of the Facility Lease.

Basic Lease Term shall have the meaning specified in SECTION 3.1 of the Facility Lease.

Basic Lease Term is defined in Section 2.3 of the Master Lease.

Examples of Basic Lease Term in a sentence

• The present value of Basic Rent payable during the Basic Lease Term under the Facility Lease (taking into account any rent adjustment through or contemplated on the Closing Date), together with all rent payable under the related Facility Site Lease, discounted at the Discount Rate, shall satisfy the 90 percent test for operating lease classification under FASB 13.

• There are no contracts or agreements providing for sales of power and ancillary services produced by the Facility or for the use and operation of the Facility that have a term which extends beyond the expiration of the Basic Lease Term other than the Interconnection Agreement.

• The installment of Renewal Rent payable on each such Rent Payment Date during the First Renewal Term shall be equal to the lesser of (i) the Fair Market Rental Value of the Undivided Interest (as determined at the commencement of the First Renewal Lease Term) and (ii) 75% of the average Basic Lease Rent payable with respect to the Basic Lease Term.

• The installment of Renewal Rent payable on each such Rent Payment Date during the Second Renewal Term shall be equal to the lesser of (i) the Fair Market Rental Value of the Undivided Interest (determined at the commencement of the Second Renewal Term) and (ii) 75% of the average Basic Lease Rent payable with respect to the Basic Lease Term.

• The date of occurrence of an Event of Loss described in clause (iii)(b) above shall be the date of requisition of title to the Facility Site or, in the case of a requisition of use of the Facility Site, the date which is the scheduled expiration date of the Basic Lease Term or any Renewal Lease Term then in effect or elected by the Facility Lessee, as the case may be (if an event described in clause (iii)(b) shall be continuing at such time).

More Definitions of Basic Lease Term

Basic Lease Term means the period described in Section 3.1.

Basic Lease Term is defined in Section 2.2 of the Lease.

Basic Lease Term shall have the meaning specified in Section 3.1 of the Project Lease.

Basic Lease Term means (i) with respect to any Equipment listed on a Schedule dated on or prior to the Basic Lease Term Commencement Date, the period commencing on the Basic Lease Term Commencement Date and expiring three (3) years thereafter, and (ii) with respect to any Equipment listed on a Schedule dated after the Basic Lease Term Commencement Date, the period commencing on the date of such Schedule and expiring three (3) years after the Basic Lease Term Commencement Date. "BASIC LEASE TERM COMMENCEMENT DATE" shall mean the first day of the calendar month next succeeding the Construction Completion Date. "BASIC LEASE TERM INTEREST RATE" shall mean that per annum interest rate calculated pursuant to Section C.4. of the applicable Schedule to the Master Lease Agreement. "BASIC TERM RENT" with respect to each Unit of Equipment shall have the meaning assigned to it in Section C.2. of the applicable Schedule to the Master Lease Agreement. "BAZAAR HOLDINGS" shall mean Aladdin Bazaar Holdings, LLC, a Nevada limited liability company. "BREAKAGE LOSS" shall include LIBOR and other funding breakage costs, if any, and may be determined by reference to the standard International Swap Dealers Association calculation for "Loss." "BUSINESS DAY" shall mean any day that is not a Saturday, a Sunday or a day on which banks are required or permitted to be closed in the States of Nevada, New York or Maryland, and if the applicable Business Day relates to the determination of any Interest Period or the interest rate therefor, such term also shall exclude any day on which trading is not carried on by and between banks in U.S. Dollars in the London interbank market. "CAPITAL EXPENDITURES" shall mean all payments or accruals (including Capital Lease Obligations) for any fixed assets or improvements or for replacements, substitutions or additions thereto, that have a useful life of more than one (1) year and that are required to be capitalized under GAAP. "CAPITAL LEASE" shall mean, with respect to any Person, any lease of any property (whether real, personal or mixed) by such Person as lessee that, in accordance with GAAP, either would be required to be classified and accounted for as a capital lease on a balance sheet of such Person or otherwise be disclosed as such in a note to such balance sheet, other than, in the case of Aladdin Gaming, any such lease under which Aladdin Gaming is the lessor.

Basic Lease Term means the period commencing on the Closing ---------------- Date and ending on the Basic Lease Term Expiry Date, or such shorter period as may result from earlier termination of the Lease.

Basic Lease Term means, with respect to each item of Equipment ------------------ leased hereunder, the period of lease specified as the "Basic Lease Term" for such Item of Equipment in the Lease Supplement pursuant to which such Item of Equipment is leased by Lessor to Lessee hereunder.

Basic Lease Term is defined in Section 2.3 of the Master Lease. -----------