Ground Lease SNDA definition

Ground Lease SNDA has the meaning set forth in Section 3.4(b)(ii)(L).
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Ground Lease SNDA. As defined in Section 7.3(a).
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Ground Lease SNDA means an agreement among Ground Landlord, Landlord and Tenant providing in essence that (a) Ground Landlord consents to this Lease, (b) this Lease is subordinate to the Ground Lease and all of the provisions, terms and conditions hereof (except as otherwise provided in the Five Party Notice with respect to Tenant's Purchase Option and Right of First Refusal to Purchase), (c) in the event that Ground Landlord succeeds to Landlord's interest in the Premises under this Lease due to termination of the Ground Lease or otherwise, Tenant shall attorn to Ground Landlord, and Ground Landlord, provided that Tenant is not in default hereunder after any applicable notice and cure period, shall recognize this Lease and Tenant's rights hereunder and shall not disturb Tenant's possession of the Premises pursuant hereto and (d) Ground Landlord shall not be responsible for Landlord's obligations under this Lease unless and until Ground Landlord so succeeds to Landlord's interest hereunder. The Ground Lease SNDA shall be substantially in the form set forth in Schedule GS attached hereto.
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Examples of Ground Lease SNDA in a sentence

  • Within five (5) business days following the Effective Date, Seller shall request a Ground Lease SNDA from each such mortgagee.”).

  • Tenant further covenants and agrees (subject to receipt of the Ground Lease SNDA) to execute and deliver upon request of the Ground Lessor an instrument to evidence such attornment once such termination occurs.

  • Tenant further covenants and agrees (subject to receipt of the Ground Lease SNDA) that if by reason of any default upon the part of Landlord herein as lessee/tenant under the Ground Lease, the Ground Lease is terminated by summary proceedings, voluntary agreement or otherwise, Tenant herein agrees to recognize the Ground Lessor as Tenant’s lessor/landlord under this Lease.

  • Tenant further covenants and agrees to execute and deliver to the Ground Lessor the Ground Lease SNDA, confirming such subordination; provided, however, that this Lease and the rights of Tenant hereunder are and shall at all times remain subject and subordinate to the terms, covenants and conditions of the Ground Lease and any extensions or modifications thereof, regardless of whether Tenant shall execute and deliver the Ground Lease SNDA.

Related to Ground Lease SNDA

  • 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:

  • 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.

  • 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).

  • 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.

  • Operating Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which is not a Capital Lease.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such 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.

  • Ground Lessor means each lessor that has executed a Ground Lease (collectively, the “Ground Lessors”).

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

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

  • Landlord Consent and Estoppel means, with respect to any Leasehold Property, a letter, certificate or other instrument in writing from the lessor under the related lease, pursuant to which, among other things, the landlord consents to the granting of a Mortgage on such Leasehold Property by the Credit Party tenant, such Landlord Consent and Estoppel to be in form and substance acceptable to Collateral Agent in its reasonable discretion, but in any event sufficient for Collateral Agent to obtain a Title Policy with respect to such Mortgage.

  • Site Lease means the lease of part of the Site from the Minister for Finance on behalf of the State to the Company;' ;

  • 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.

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

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

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

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • 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.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • 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.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Real Estate Leases is defined in Section 4.7.