Ground Lessee definition
Examples of Ground Lessee in a sentence
Subject to the provisions of Sections 6.08(c) and (d), Borrower will pay or cause to be paid (i) all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment, and (ii) if Borrower’s interest in the Mortgaged Property is as a Ground Lessee, then the monthly or other periodic installments of Ground Rent before the last date upon which each such installment may be made without penalty or interest charges being added.
A representative of Ground Lessee and of each Registered Mortgagee may attend any such meeting.
The Ground Lease, including any modifications or amendments set forth below, contains all of the understandings and agreements between Ground Lessee and Borrower.
In addition, Landlord may require an amount to be deposited with Landlord at the time of the first conveyance or Parcel Ground Lease of any Building Site from Landlord to any purchaser or Parcel Ground Lessee, as applicable, thereof, and which deposit shall not bear interest and may be retained by Landlord as working capital and as security for the payment of future annual and special assessments.
Ground Lessee shall not be liable for any judgment with respect to any Obligation except for damages resulting from any inaccuracies in any of the representations by Ground Lessee under Section 11.01, and Ground Lessee joins in this Instrument for purposes of agreeing to the terms hereof and binding its interest in the Property.