As of the Effective Date, as a condition precedent to making the Loan, the projected annualized cash flow of the Property (taking into account pro forma market rents from the Honolulu Club Lease) shall have a Gross Coverage Factor of not less than ten percent (10%).
Urban renewal area means a slum area or a blighted area or a combination thereof which the municipality designates as appropriate for an urban renewal project.
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.
Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;
Urban renewal project means undertakings and activities of a municipality in an urban renewal area for the elimination and for the prevention of the development or spread of slums and blight, and may involve slum clearance and redevelopment in an urban renewal area, or rehabilitation or conservation in an urban renewal area, or any combination or part of them in accordance with an urban renewal plan. These undertakings and activities may include:
Dining club license means a license issued in accordance with Chapter 5, Retail
Shopping Centre means a grouping of commercial retail outlets which have been designed, developed and managed as a unit by a single owner or group of owners or tenants located on the same lot or lots with a frontage not less than 45 metres and having common on-site parking;
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:
Banking Premises means the interior of that portion of any building occupied by a banking institution or similar safe depository.
Burswood Casino means that area in the Resort Complex identified in the Drawings as the area to constitute the casino and includes the area in which money counting, surveillance, storage and other activities relating to the conduct and playing of Games are carried on or, if and when the area to which the Burswood Casino Licence relates is fixed pursuant to section 21(4a) of the Control Act, the area so fixed as thereafter altered from time to time in accordance with that section;
Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.
Leash means a leash, cord, chain, or other comparable material which must be of a gauge suitable for controlling said dog and shall not be longer than six feet.
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.
Urban renewal plan means a plan, as it exists from time to time, for an urban renewal project, which plan shall be sufficiently complete to indicate such land acquisition, demolition and removal of structures, redevelopment, improvements, and rehabilitation as may be proposed to be carried out in the urban renewal area, zoning and planning changes, if any, land uses, maximum density and building requirements.
industrial premises means any place or premises (not being a private dwelling house), including the precincts thereof, in which or in any part of which any industry, trade, business, occupation or manufacturing is being ordinarily carried on with or without the aid of power and includes a godown attached thereto;
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).
Youth center means any public or private facility that is primarily used to host recreational or social activities for minors, including, but not limited to, private youth membership organizations or clubs, social service teenage club facilities, video arcades, or similar amusement park facilities.
Basal area means the effective surface area available to transmit the treated effluent from the filter media in a mound system into the in-situ receiving soils. The perimeter is measured at the interface of the imported fill material and in-situ soil. On sloping sites, only the area down-gradient from the up-slope edge of the distribution media may be included in this calculation.
Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;
Ground Lessor means each lessor that has executed a Ground Lease (collectively, the “Ground Lessors”).
Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.
Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.
Sailboat means the same as that term is defined in Section 73-18-2.
Conifer means a tree that is a Douglas-fir, true fir, pine, western hemlock, spruce, or cedar.
Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.
Nationwide Mortgage Licensing System and Registry means a mortgage licensing system developed and maintained by the conference of state bank supervisors and the American association of residential mortgage regulators for the licensing and registration of licensed mortgage loan originators.
Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;