Facility Lease definition

Facility Lease means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and substance reasonably satisfactory to the Administrative Agent.

Facility Lease means the Facility Lease Agreement, dated as of the Closing Date, between the Owner Lessor and the Company, substantially in the form of Exhibit C-1 to the Participation Agreement duly completed, executed and delivered on the Closing Date pursuant to which the Owner Lessor will lease the Facility to the Company.

Facility Lease as defined in each Participation Agreement.

Examples of Facility Lease in a sentence

• A resolution from SEARHC’s Board of Directors authorizing the execution, delivery, and performance of this Agreement and all transactions contemplated by this Agreement and in the Facility Lease, on the terms set forth in the Agreement and in the Facility Lease and that all such resolutions are in full force and effect and are all the resolutions adopted in connection with the transactions contemplated by this Agreement.

• Notwithstanding that the Participating County’s consent or approval is not required for any subletting of the Site or the Project, to assist with the Board’s financing of the Project, the Participating County hereby consents to and approves the sublease of the Site, together with the Improvements, to the Board under the Site Lease and the further subletting of the Facility by the Board to the Department under the Facility Lease.

• The Participating County acknowledges and confirms that the Department’s use of the Leasehold Estate created hereunder includes, but is not limited to, allowing for potential financing and construction of the Project and the leasing of the Site and/or the Facility pursuant to the Site Lease, the Facility Lease, and the Facility Sublease and for such other purposes as may be incidental thereto.

• The Parties agree that irreparable damage would occur in the event any of the provisions of this Agreement and the Facility Lease were not performed in accordance with their specific terms or were otherwise breached or threatened to be breached and that an award of money damages would be inadequate in such event.

• In the event of any damage or destruction of the Project, the use of the proceeds of any property casualty or builder’s risk insurance required to be procured and maintained pursuant to the PDCA, or any insurance required by the Facility Lease or Facility Sublease shall be governed by the terms of the agreement that required the procurement of such insurance.

More Definitions of Facility Lease

Facility Lease means the Facility Lease Agreement (BA1/2), dated as of the Closing Date, between the Owner Lessor and PPL Montana, substantially in the form of Exhibit B-1 to the Participation Agreement duly completed, executed and delivered on the Closing Date pursuant to which the Owner Lessor will lease the Undivided Interest to PPL Montana.

Facility Lease has the meaning given to such term in the Recitals.

Facility Lease means a lease of or other right to operate, occupy or use a Facility that any Company currently leases, operates, occupies or uses in connection with the conduct of the Business.

Facility Lease means a lease-revenue bond financing document in which the Board leases the site and the Board-financed local jail facility project to CDCR for the Local Jail Construction Financing Program and to BSCC for the Adult Local Criminal Justice Facilities Construction Financing theProgram. The term of the bonds and,are subject to availability for use and occupancy, ; for Phase I and Phase II the CDCR or BSCC agrees to pay rent and fulfill other related obligations., for the Adult Local Criminal Justice Facilities Construction Financing Program the BSCC agrees to pay rent and fulfill other related obligations.

Facility Lease means that certain Participation Agreement, dated as of December 17, 2002, entered into by and among Quantum, SELCO Service Corporation, as lessor and participant, Comerica Bank-California, Fleet National Bank and KeyBank National Association, as participants, and KeyBank National Association, as Agent, including any related leases, lease supplements, deeds of trust, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended (including any amendment and restatement thereof), modified, renewed, refunded, replaced, refinanced or restructured (including, without limitation, any amendment increasing the amount of available advances thereunder) from time to time and whether with the same or any other agent, lessor, participant or group of participants.

Facility Lease means each Facility Lease between Homer City, as Facility Lessee and each respective Owner Lessor, dated as of December __, 2001 entered into pursuant to each Participation Agreement listed in Schedule 1.

Facility Lease has the meaning set forth in Section 4.6(e).