Excess Leasehold Liabilities definition

Excess Leasehold Liabilities means any Liability, to the extent such Liability is not indemnified by the landlord under the lease for the Leased Real Property relating to: (i) the presence on or before the Closing Date of any Hazardous Materials in, on, under or about any Business Facility (including the soil, groundwater, surface water, air or building materials thereof) to the extent caused by a release, emission, discharge, disposal, dumping, spill, injection or pouring of Hazardous Materials by the LLC (“Pre-Existing Contamination of the Business”); (ii) the migration at any time prior to or after the Closing Date of Pre-Existing Contamination of the Business to any other real property, or the soil, groundwater, surface water, air or building materials thereof; (iii) the exposure of any person to Pre-Existing Contamination of the Business or to other Hazardous Materials at any Business Facility prior to the Closing Date, without regard to whether any health effect of the exposure has been manifested as of the Closing Date; or (iv) any Hazardous Materials in, on, under or about the Leased Real Property in Charlotte, North Carolina on or before the Closing Date (including the soil, groundwater, surface water, air or building materials thereof), excluding any Pre-Existing Contamination of the Business.
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Related to Excess Leasehold Liabilities

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • 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.

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

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • 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.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

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

  • 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:

  • Capitalized Lease Liabilities means all monetary obligations of the Borrower or any of its Subsidiaries under any leasing or similar arrangement which, in accordance with GAAP, would be classified as capitalized leases, and, for purposes of this Agreement and each other Loan Document, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.

  • Material Leased Real Property shall have the meaning assigned to such term in Section 5.10(b).

  • Leased Properties have the meaning set forth in Section 3.16 herein.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

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

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

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

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

  • 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.

  • 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.

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

  • 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.

  • Real Estate Leases is defined in Section 4.7.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

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