Encumbered Lease definition

Encumbered Lease means a Lease pledged by Seller to BALCAP pursuant to the Loan Agreement.
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Encumbered Lease means, individually, the lease described on Schedule 3 annexed hereto and made a part hereof, as each such lease may be amended, restated or otherwise modified from time to time.
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Examples of Encumbered Lease in a sentence

  • The Trustor shall at all times fully perform and comply with all agreements, covenants, terms and conditions imposed upon or assumed by it as lessee under the Encumbered Lease prior to the expiration of any notice and/or cure period provided in such Encumbered Lease.

  • Concurrently with the execution and delivery of this Deed of Trust, the Trustor, at its expense, has obtained and delivered to the Beneficiary a loan policy or policies of title insurance in an amount, and in form and substance, satisfactory to the Beneficiary naming the Beneficiary as the insured, insuring the title to and the first deed of trust lien of this Deed of Trust on the leasehold interest created by each Encumbered Lease in the Property with endorsements requested by the Beneficiary.

  • This Mortgage constitutes a valid lien and mortgage on the Grantor's fee and leasehold interests in the Land, the Buildings and the Fixtures, including without limitation all of Grantor's right, title and interest in and to any Encumbered Lease, and a valid security agreement which creates a valid security interest in and to, and a valid assignment of, the Fixtures, Personalty, Leases and Rents, all in accordance with the terms hereof, in each case subject only to the Permitted Encumbrances.

  • Grantor has good and record and marketable title in fee (or, if and to the extent that the Mortgaged Property includes any Encumbered Lease, good title in the leasehold) to the Land, Buildings and Fixtures and good title to the Personalty and Leases, in all cases free and clear of any Liens and claims of Liens except the Permitted Encumbrances.

  • Any capitalized terms not otherwise defined in this Agreement shall have the meaning ascribed to them first in the Hospital Lease and, if not therein defined, then in the Encumbered Lease.

  • This Deed of Trust constitutes a valid lien, deed of trust or mortgage on the Grantor's fee and leasehold interests in the Land, the Buildings and the Fixtures, including without limitation all of Grantor's right, title and interest in and to any Encumbered Lease, and a valid security interest in and to, and a valid assignment of, the Fixtures, Personalty, Leases and Rents, all in accordance with the terms hereof, in each case subject only to the Permitted Encumbrances.

Related to Encumbered Lease

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • 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.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Administrative Agent's reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • 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 Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Site Lease or “Lease” means this Site Lease together with any duly authorized and executed amendment hereto under which the District leases the Site to the Lessee.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • 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.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Material Leased Real Property shall have the meaning given in Section 3.7(b).

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property, other than any such leasehold interest designated from time to time by Collateral Agent in its sole discretion as not being required to be included in the Collateral.

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

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

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • Real Property Leases means all leases, sub-leases, licenses or other agreements, in each case, pursuant to which any Group Company leases or sub-leases any real property.

  • 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.

  • Assumed Leases has the meaning set forth in Section 2.1(l).

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.