Ensign Master Leases definition

Ensign Master Leases means the master leases entered into by the Borrower or any of its Subsidiaries with one or more Ensign Landlords, in each case, in substantially the form of such master leases delivered to the Administrative Agent on or prior to the Closing Date and any other master lease entered into by the Borrower or any of its Subsidiaries with an Ensign Landlord.
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Examples of Ensign Master Leases in a sentence

  • The obligations under the Ensign Master Leases are guaranteed by Ensign.

  • A default by any subsidiary of Ensign with regard to any facility leased pursuant to an Ensign Master Lease will result in a default under all of the Ensign Master Leases.

  • In addition to rent, the subsidiaries of Ensign that are tenants under the Ensign Master Leases are solely responsible for the costs related to the leased properties (including property taxes, insurance, and maintenance and repair costs).

  • Reflects the additional amount of rental income from subsidiaries of Ensign that would have been payable to CareTrust pursuant to the Ensign Master Leases (had they been in effect for the period) for properties of Ensign Properties, the predecessor of CareTrust, that were previously leased under intercompany lease agreements.

  • The following tables summarize our investment in owned properties at March 31, 2016, and December 31, 2015 (dollars in thousands): As of March 31, 2016, 94 of the Company’s 137 facilities were leased to subsidiaries of Ensign under eight master leases (the "Ensign Master Leases") which commenced on June 1, 2014.

  • The following tables summarize the Company's investment in owned properties as of March 31, 2017, and December 31, 2016 (dollars inthousands): As of March 31, 2017, 93 of the Company’s 161 facilities were leased to subsidiaries of Ensign under eight master leases (the "Ensign Master Leases") which commenced on June 1, 2014.

  • After April 15, 2015, the effective date of Mr. Christensen's resignation from our board of directors, rental income and tenant reimbursements related to the Ensign Master Leases, and any related accounts receivable, are not considered earned or due from a related party.

  • The annual revenues from the Ensign Master Leases are $56.0 million during each of the first two years of the Ensign Master Leases.

  • Additionally, the Company and Ensign agreed that the licensed beds will be transferred to another facility included in the Ensign Master Leases.

  • First, the originally anticipated sewage flows from the Belterra project will now be treated on site and no longer require a connection to the Snug Cove Sewer System.

Related to Ensign Master Leases

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

  • 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.

  • 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.

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

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • 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.

  • 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.

  • 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.

  • 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:

  • Lease Agreements shall have the meaning set forth in Section 3.14.

  • Company Leases shall have the meaning set forth in Section 3.12(a).

  • 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.

  • Master Lease Agreement has the meaning set forth in Section 7.2(c)(xiv).

  • 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).

  • FF&E Leases means all leases of any FF&E and other contracts permitting the use of any FF&E at the Improvements that are assumed by Buyer.

  • Other Leases means, collectively, the Lease Agreements between Landlord, or an Affiliate of Landlord, and Tenant with respect to the properties described on Exhibit B, but excluding any Lease Agreements terminated pursuant to their terms or by mutual agreement of the parties.

  • 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.

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-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.

  • Real Property Lease means any lease, sublease, license or other Contract with respect to Real Property.

  • Franchise Agreements means (a) the Franchise Agreements set forth on Part IV of Schedule 4.01(p) hereto, and (b) any Franchise Agreement in respect of a Borrowing Base Asset entered into after the Closing Date in compliance with Section 5.01(r).

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • Assumed Leases has the meaning set forth in Section 2.6(b).