Direct Ground Lease definition
Direct Ground Lease shall have the meaning specified in the Third Amendment.";
Direct Ground Lease means a Ground Lease pursuant to which the Land is ground leased directly from the applicable ground lessor to the Lessor.
Examples of Direct Ground Lease in a sentence
The parties hereto acknowledge that a proposed Ground Lease may either be a direct Ground Lease from a ground lessor to the Lessor (a "Direct Ground Lease") or a Ground Lease from a ground lessor to the Lessee (or any Subsidiary of any Credit Party) that is subsequently sub-ground leased to the Lessor (an "Indirect Ground Lease").
All references in the Operative Agreements to a Ground Lease shall be deemed to be a reference to either a Direct Ground Lease or an Indirect Ground Lease, as applicable.