Credit Tenant Lease Project definition

Credit Tenant Lease Project means any real estate project at least majority owned by the Borrower or any of its Subsidiaries, which was entirely financed through a traditional single tenant credit-tenant financing, which project is highly leveraged and which financing is typified by a loan (a) that has a low debt service coverage ratio, (b) that is fully amortizing during the term of such loan or the payment of any balloon balance of such loan is insured by, or is subject to some other similar credit enhancement provided by, a credit-worthy Person and (c) the terms of which are based on the underlying long-term credit rating of the project’s tenant which credit rating was or is, at the time of execution by such tenant of a lease for space at the applicable property, at least BBB- from S&P or Baa3 from Xxxxx’x or is otherwise considered investment grade on a private basis as determined by the Agent.
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Related to Credit Tenant Lease Project

  • 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 (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.

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

  • 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).

  • 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:

  • 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.

  • Condominium Project Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.

  • 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.

  • 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.

  • Anchor Tenant means, with respect to a Community Renewable Energy Generation Project, the non-End Use Customer subscriber designated by Seller as such under its SFA application.” The following is added as Section 1.3.3:

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

  • Expansion Project has the meaning set forth in Section IV.3.a of this Agreement.

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

  • Ground Lessor means the lessor under the Ground Lease.

  • 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.

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

  • Leased Property shall have the meaning given such term in Section 2.1.

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

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

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

  • Franchise Area means the area within the jurisdictional boundaries of the City, including any areas annexed by the City during the term of this Franchise.

  • Building Project means the aggregate combined parcel of land on a portion of which are the improvements of which the Premises form a part, with all the improvements thereon, said improvements being a part of the block and lot for tax purposes which are applicable to the aforesaid land.