Credit Tenant Lease definition

Credit Tenant Lease. A financeable lease of Commercial Real Estate, which lease is a triple net lease (i.e., the tenant is responsible for all maintenance, insurance and taxes), a double net lease (i.e., the tenant is responsible for all taxes and insurance) or is a bondable lease.
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Credit Tenant Lease. A lease related to and securing a commercial mortgage loan that is dependent principally on the payment by the related tenant or guarantor, if any, of lease or rental payments and other payments due under the terms of such lease and therefore the performance of the related tenant.
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Credit Tenant Lease means a financeable lease to a tenant or guaranteed by a Person with a rating of BBB- by S&P or Baa3 by Moxxx’x, or better, which lease provides that the tenant will pay all maintenance, insurance, and property and sales taxes, or, to the extent such maintenance, insurance and/or property and/or sales tax obligations are the responsibility of a Borrower, such obligations will be paid by insurance, from reserves or by such other means acceptable to the Administrative Agent. Notwithstanding the foregoing, leases to tenants or guaranteed by Persons not meeting such requirements may be deemed Credit Tenant Leases in the Administrative Agent’s discretion.
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Examples of Credit Tenant Lease in a sentence

  • The Borrower’s primary business shall not be substantially different from that conducted by the Borrower on the Closing Date and shall include ownership and management of Credit Tenant Lease Assets, Loan Assets and Real Property Assets.

  • The Borrower shall use the proceeds of the Loans for general corporate purposes, including, without limitation, the origination, acquisition and funding of Loan Assets, Credit Tenant Lease Assets and other investments, the repayment of maturing debt obligations, the repurchase or exchange of public notes of the Borrower, the acquisition of other assets, and for general working capital needs of the Borrower, in each case, in accordance with and subject to the terms and conditions of this Agreement.

  • The Borrower’s primary business shall not be substantially different from that conducted by the Borrower on the Closing Date and shall include ownership and management of Credit Tenant Lease Assets and Loan Assets.

  • The Borrower owns the Collateral purported to be owned by it (and in the case of Credit Tenant Lease Assets, fee title to the underlying real property in respect thereof) and each other Covered Party directly and wholly owns the Covered Assets purported to be owned by it, as applicable, in each case as set forth in the Collateral and Covered Asset List, except as set forth on Schedule 4.27, and none of the Collateral or Covered Assets is subject to any Lien except as permitted by Section 5.15.

  • Borrower’s primary business will not be substantially different from that conducted by Borrower on the Closing Date and shall include ownership and management of Credit Tenant Lease Assets and Loan Assets.

  • Notwithstanding anything to the contrary contained herein, there shall be no Borrowing Base Value attributable to (i) the equity interests in any Collateral SPV or (ii) any assets owned by any Collateral LLC other than any Loan Assets, Credit Tenant Lease Assets, Other Real Estate Owned Assets or interests in Venture LLCs.

  • The Credit Tenant Lease Loan provides that the Credit Lease cannot be modified or terminated or surrendered (except for a termination by Tenant specifically provided for in the Lease) without the consent of the mortgagee thereunder.

  • Tenant under the Credit Lease is required to make all rental payments directly to Seller, its successors and assigns under the Credit Tenant Lease Loan.

  • The data set includes detailed information on3In contrast to a Conduit CMBS, which includes mortgages that were originated with the intent of pooling them in a CMBS, other CMBS deals are labeled Portfolio, Large Loan, Fusion, Single Borrower, Franchise Loan, Agency, Credit Tenant Lease, and Floating Rate among others.

  • Credit Tenant Lease Financing: If a property is leased by a national company such as Target or General Motors, it may qualify for certain financing considerations-lower rates, shorter pre-payment penalty period, etc.


More Definitions of Credit Tenant Lease

Credit Tenant Lease means a financeable lease of Commercial Real Estate, which lease is a triple net lease (i.e., the tenant is responsible for all maintenance, insurance and taxes), a double net lease (i.e., the tenant is responsible for all taxes and insurance) or is a bondable lease, as the same may be amended, restated, modified or supplemented from time to time.
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Credit Tenant Lease means any lease to a tenant having a credit rating of at least 'Baa' by Moody's or 'BBB+' by S&P."
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Credit Tenant Lease means, with respect to each CTL Loan, the lease agreement between the related Mortgagor as lessor and the related Credit Tenant as lessee of the related Mortgaged Property, which lease covers all or substantially all of such Mortgaged Property.
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Credit Tenant Lease. With respect to Mortgage Loan Numbers DBM17722 (Walgreens Hattiesburg MS), DBM17726 (Walgreens Madison Hoy) and DBM17729 (Walgreens Savannah), which are each Credit Lease Loans: REP 42(II)(4): Walgreens Hattiesburg MS, Walgreens Madison Hoy and Walgreens Savannah loans: If the landlord (Mortgagor) under the Credit Lease fails to pay any sums due the tenant (including environmental indemnity obligations) and such failure continues beyond the applicable grace period, then the tenant shall have the right to deduct such sums from fixed and percentage rent and other amounts due the landlord, together with interest thereon at the prime rate charged from time to time by First Chicago/NBD, plus two percent until fully reimbursed. In addition, if the landlord (Mortgagor) fails to perform any acts required of the landlord under the lease beyond the applicable grace period, then the tenant shall have the right to perform such acts and the right to deduct the cost and expense incurred thereby from fixed and percentage rent and other sums due the landlord, together with interest thereon. Under the terms of subordination, non-disturbance and attornment agreements with the lender, the tenant has agreed to send the lender notice of a landlord (Mortgagor) default prior to exercising any rights of self-help, set-off, abatement and/or termination. Pursuant to the terms of the Indemnity and Guaranty Agreement from Xxxxx X. Xxxxxx (the principal of the borrower) in favor of lender, Xx. Xxxxxx is personally liable for all landlord (Mortgagor) defaults that give rise to a tenant set-off, abatement and/or lease termination. The Walgreens leases are also subject to proportional rent abatement after a casualty (see the discussion of representation 42(ix), below).
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Credit Tenant Lease. A lease to a tenant or guaranteed by a Person with a rating of BBB- by S&P or Baa3 by Xxxxx'x, or better, which lease provides that the tenant will pay all maintenance, insurance, and property and sales taxes, or, to the extent such maintenance, insurance and/or property and/or sales tax obligations are the responsibility of Seller, such obligations will be paid by insurance, from reserves or by such other means acceptable to Buyer. Notwithstanding the foregoing, leases to tenants or guaranteed by Persons not meeting such requirements shall be deemed Credit Tenant Leases at Buyer's sole but reasonable discretion.
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Related to Credit Tenant Lease

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

  • Operating Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which is not a Capital Lease.

  • 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).

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • 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 Lessor means each lessor that has executed a Ground Lease (collectively, the “Ground Lessors”).

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • 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.

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Parking space leasing data means the following government data on an application for, or lease of, a parking space: residence address, home telephone number, beginning and ending work hours, place of employment, location of parking space, and work telephone number.

  • Facility Lease means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and substance reasonably satisfactory to the Administrative Agent.

  • Landlord Agreement means an agreement substantially in the form provided by Lender to Borrower or such other form as Lender may agree to accept.

  • special lease means a special lease or license to be granted in terms of this Agreement under the Ratifying Act the Land Act or the Xxxxxxx Xxx 0000 and includes any renewal thereof; “this Agreement” “hereof” and “hereunder” include this Agreement as from time to time added to varied or amended;

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Anchor Tenant means the primary customer occupying a site.

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Material Lease has the meaning set forth in Section 3.17(a).

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Site Lease means the lease of part of the Site from the Minister for Finance on behalf of the State to the Company;' ;

  • Facility Leases means agreements for the lease by the Company or any of its Subsidiaries or Joint Ventures of real estate utilized as a vehicle parking facility and/or for ancillary parking and transportation services.