Ground Interest definition

Ground Interest shall have the meaning specified in the recitals to the Facility Site Lease.

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Ground Interest means the Owner Lessor's 25% undivided leasehold interest in the Facility Site.

Ground Interest shall have the meaning set forth in Section 2.1 of the Site Lease.

Examples of Ground Interest in a sentence

• There is no action pending with respect to, or threatened by a Governmental Entity or other Person to initiate, a Requisition of any of the Undivided Interest, the Facility, the Ground Interest or the Facility Site, which would reasonably be expected to have a Material Adverse Effect.

• Upon such transfer such Undivided Interest shall be and shall be deemed to be an integral part of the Undivided Interest (to the extent constituting a portion of the Facility) and the Ground Interest (to the extent constituting a portion of the leasehold interest in the Facility Site) for all purposes of the Operative Documents without the necessity of amending or supplementing any Operative Document, subject nevertheless to Section 14.15 hereof.

• There is no action pending with respect to, or threatened by a Governmental Entity or other Person to initiate, a Requisition of any of the Undivided Interest, the Facility, the Ground Interest, the Facility Site or any of the Easement, which would reasonably be expected to have a Material Adverse Effect.

• The Ground Lessor hereby covenants that it will not, directly or indirectly, create, incur, assume or suffer to exist any Liens or other encumbrances on or with respect to the Ground Interest, other than Permitted Liens.

• At any time, the Owner Lessor (either directly or in the name of the Equity Investor), the Equity Investor or the Lease Indenture Trustee may at its own expense and for its own account carry insurance with respect to its interest in the Facility or the Ground Interest.

More Definitions of Ground Interest

Ground Interest shall have the meaning specified in the Recitals to the Facility Site Lease.

Ground Interest means (i) a leasehold in the Facility Site, (ii) a nonexclusive easement in, to and over the Global Common Facilities Site and (iii) a nonexclusive easement in, to and over the Access Property, granted pursuant to, and for the purposes and subject to the limitations set forth in, Section 5 of the Ground Lease.

Ground Interest means, prior to the Post-FILOT Lease Conversion Date, the Owner Lessor's 25% undivided leasehold interest in the Facility Site, and upon and after the Post-FILOT Lease Conversion Date, the Owner Lessor's 25% undivided leasehold interest in the Facility Site.

Ground Interest shall have the meaning set forth in the recitals to the Site Lease.

Ground Interest means a 90% undivided interest in the Facility Site together with (i) all rights under Applicable Law as a tenant-in-common of the Facility Site with the Ground Lessor as owner/holder of the remaining 10% undivided interest (or any successor, assignee or lessee of Ground Lessor’s 10% undivided interest) in the Facility Site, as such rights of a tenant-in-common are modified by the Ground Lease (including Sections 12.19 and 12.20 thereof) and, following termination of the Ground Sublease, the Support Agreement, and (ii) the right to nonexclusive possession with the Ground Lessor as owner/holder of the remaining 10% undivided interest (or any successor, assignee or lessee of Ground Lessor’s 10% undivided interest) in the Facility Site.

Ground Interest has the meaning given to such term in the Recitals.

Ground Interest shall have the meaning set forth in the recitals to this Agreement.