Facility Operating Leases definition

Facility Operating Leases means each lease or master lease with respect to any Borrowing Base Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Borrowing Base Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income for such Borrowing Base 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; as the foregoing may be amended and extended from time to time after the Closing Date in accordance with and subject to the terms of this Agreement and the Facility Operating Lease SNDA applicable thereto.
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Facility Operating Leases means each lease or master lease with respect to any Real Property Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is substantially a triple net lease such that such Eligible 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 for such Real Property Asset (before non-cash items) equals the base rent paid thereunder, as the foregoing may be amended and extended from time to time after the Closing Date in accordance with and subject to the terms of this Agreement and, if required, the Facility Operating Lease SNDA applicable thereto.
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Facility Operating Leases means each lease or master lease with respect to any Borrowing Base Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Borrowing Base Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income for such Borrowing Base 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; as the foregoing may be amended and extended from time to time after
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Examples of Facility Operating Leases in a sentence

  • There are no other Facility Operating Leases affecting the Borrowing Base Assets.

  • The Borrowers shall not, without the prior written consent of the Required Lenders enter into any material amendment or modification or cancel or terminate any Material Contract (subject to the provisions of this Section 7.08 with respect to Facility Operating Leases) prior to its stated maturity.

  • No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 87 ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇ N.M. Lordsburg Three Plus One Limited Company 1.

  • Unconditional Guaranty of Lease dated 4/1/07 Espanola Valley Nursing Operations, LLC, dba Espanola Valley Nursing & Rehab 9/30/2021 N/A No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 91 ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇▇▇▇▇▇, ▇▇ N.M. Bloomfield Three Plus One Limited Company 1.

  • Unconditional Guaranty of Lease dated 4/1/07 ▇▇▇▇▇▇▇ Nursing Operations, LLC, dba ▇▇▇▇▇▇▇ Nursing & Rehab 9/30/2021 N/A No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 94 ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, Carson City, NV California Aviv Two, L.L.C. 1.

  • No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 20 ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ California Aviv, L.L.C. 1.

  • Unconditional Guaranty of Lease dated 4/1/07 Country Cottage Nursing Operations, LLC, dba Country Cottage Care & Rehab 9/30/2021 N/A No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 89 ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇, ▇▇▇▇▇▇, ▇▇ Red Rocks, L.L.C. 1.

  • Unconditional Guaranty of Lease dated 10/25/06 Evergreen Oregon Healthcare Orchards Retirement, L.L.C. 10/31/2016 N/A No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 103 91 Aries Lane, La Grande, OR California Aviv, L.L.C. 1.

  • The Borrowers shall not, without the prior written consent of the Required Lenders, enter into any material amendment or modification or cancel or terminate any Material Contract (subject to the provisions of this Section 7.08 with respect to Facility Operating Leases) prior to its stated maturity.

  • Second Amendment to Lease dated 11/30/2010 Bonham Nursing and Rehabilitation, L.P. 5/31/2021 N/A No. Address Borrower/Owner2 Facility Operating Leases Eligible Tenant3 Termination Date Ground Leases 126 ▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇, ▇▇▇▇▇▇, ▇▇ Savoy/Bonham Venture, L.L.C. 1.

Related to Facility Operating Leases

  • 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.

  • 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.

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

  • Operating Lease Obligations means, as at any date of determination, the amount obtained by aggregating the present values, determined in the case of each particular Operating Lease by applying a discount rate (which discount rate shall equal the discount rate which would be applied under Agreement Accounting Principles if such Operating Lease were a Capitalized Lease) from the date on which each fixed lease payment is due under such Operating Lease to such date of determination, of all fixed lease payments due under all Operating Leases of the Borrower and its Subsidiaries.

  • Facility Operator means a person that controls the operation of a facility.