Hybrid Lease definition

Hybrid Lease means a single transaction involving a lease of goods and:
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Hybrid Lease. A transaction pursuant to which the related Issuer acquires fee title to or a ground lease interest in the underlying real property (with no fee interest in the Improvements located on such real property) and (i) as ground lessor, enters into a ground lease with respect to a Property and, simultaneously, (ii) as lender, makes a loan to the entity that is the ground lessee under such ground lease, or an affiliate thereof, secured by a mortgage or deed of trust, as applicable, on such ground lessee’s fee or leasehold interest in the Improvements located on the related Property and leasehold interest in the real property subject to such ground lease.
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Hybrid Lease means an Asset pursuant to which (a) the Hybrid Lease Fee Owner owns fee simple title to the Real Estate, the Tenant owns fee simple title to the improvements on such Real Estate, and the Hybrid Lease Fee Owner leases such Real Estate to the Tenant and (b) such Tenant is the borrower under a Hybrid Mortgage from the Borrower or a Wholly Owned Subsidiary of the Borrower and which loan is secured by a first-priority mortgage on the improvements and such Tenant’s interest in the ground lease of such Real Estate.
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Examples of Hybrid Lease in a sentence

  • In addition, the Property Manager or the applicable Issuer shall provide to the Indenture Trustee an explanation of the Non-Renewal Risk or Credit Risk, including, if applicable, a copy of any written communication from the Tenant or Borrower related to such Non-Renewal Risk or Credit Risk, as well as a summary description of the anticipated Qualified Substitute Property, Qualified Substitute Hybrid Lease or Qualified Substitute Loan, as applicable.

  • Neither Borrower, any Guarantor nor any of their respective Subsidiaries shall, or shall permit to occur, any partial Prepayment of an Intercompany Loan or Hybrid Lease.

  • For the avoidance of doubt, a Hybrid Lease shall not constitute a Qualifying Note Receivable.

  • In the case of a Hybrid Lease, the Unencumbered Pool Property shall include the fee ownership or ground lease interest in the land and the Improvements secured by the Hybrid Mortgage.

  • A Hybrid Lease shall not be considered a Mortgage Note Receivable.

  • Each lease entered into between an Unencumbered Pool Asset Owner which owns Real Estate and a Tenant, and each lease from a Hybrid Lease Fee Owner to a Tenant in a Hybrid Lease structure, each as amended or restated.

  • At the time of determination, the Real Estate satisfying the terms of §7.20 owned or leased pursuant to a Ground Lease, by an Unencumbered Pool Asset Owner (and Hybrid Lease Fee Owner, as applicable), and collectively, all of them.

  • Notwithstanding the foregoing, an exchange or sale of a Hybrid Lease, Loan or Property in connection with a Collateral Defect, Terminated Lease Properties, sales pursuant to the exercise of Third Party Purchase Options, Lease Transfer Properties, Risk-Based Substitutions or sales during the Disposition Period shall not be taken into consideration for purposes of the 35% maximum described in the prior sentence.

  • Borrower and the Guarantors will not create or incur or suffer to be created or incurred any Lien on any of its direct or indirect legal, equitable or beneficial interest in the Borrower, any Guarantor or any Subsidiary of Borrower or any Guarantor that is an Unencumbered Pool Asset Owner or Hybrid Lease Fee Owner or owns an Unencumbered Pool Asset or Intercompany Loan, including, without limitation, any Distributions or rights to Distributions on account thereof.

  • Case 5: Hybrid of incentives #2Last but not least a Hybrid Lease Incentive of a special, particularly interesting type can be offered comprised of a very high financial cash offer plus a number of non-financial inducements.


More Definitions of Hybrid Lease

Hybrid Lease. As defined in the Property Management Agreement.
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Hybrid Lease means a transaction pursuant to which the related Borrower acquires fee title to or a Ground Lease interest in the underlying land (and excluding the improvements located on the land) and (i) as ground lessor, enters into a Ground Lease with respect to a Property and, simultaneously, (ii) as lender, makes a loan to the entity that is the ground lessee under such Ground Lease, or an affiliate thereof, secured by a Mortgage Loan on such ground lessee’s fee or leasehold interest in the Improvements located on the related Property and leasehold interest in the real property subject to such Ground Lease. As used herein with respect to each Hybrid Lease, (i) references to the term “Lease” include the Ground Lease and any sublease related to a Hybrid Lease and the loan secured by a Mortgage on the Improvements on the Property subject to such Ground Lease and (ii) any reference to the term “Property” shall refer to the land subject to the Ground Lease or sublease related to a Hybrid Lease (excluding the improvements located on such land).
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Related to Hybrid Lease

  • Capital Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person and the amount of such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

  • Liquidated Lease means a 2016-B Lease that is terminated and charged off by the Servicer prior to its Maturity Date following a default thereunder.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • 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.

  • Consolidated Lease Expense for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries for such period with respect to leases of real and personal property, determined on a consolidated basis in accordance with GAAP.

  • Sale and Lease-Back Transaction shall have the meaning assigned to such term in Section 6.03.

  • 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.

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Capital Leases means, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder.

  • Capitalized Leases means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

  • Consolidated Indebtedness means at any time all Indebtedness of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Capital Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.

  • Capitalized Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • 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 Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Sale and Leaseback Transaction means any direct or indirect arrangement with any Person or to which any such Person is a party, providing for the leasing to the Company or a Restricted Subsidiary of any property, whether owned by the Company or any Restricted Subsidiary at the Issue Date or later acquired, which has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such Person or to any other Person from whom funds have been or are to be advanced by such Person on the security of such Property.

  • Sale and Leaseback Transactions means with respect to any Person an arrangement with any bank, insurance company or other lender or investor or to which such lender or investor is a party, providing for the leasing by such Person of any asset of such Person which has been or is being sold or transferred by such Person to such lender or investor or to any Person to whom funds have been or are to be advanced by such lender or investor on the security of such asset.

  • Consolidated Funded Indebtedness means, as of any date of determination with respect to the MLP and its Subsidiaries on a consolidated basis, without duplication, the sum of: (a) all obligations for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) the maximum amount available to be drawn under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (c) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business); (d) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by the MLP or a Subsidiary (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by the MLP or such Subsidiary or is limited in recourse; (e) all Attributable Indebtedness; (f) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (g) all Guarantees with respect to Indebtedness of the types specified in clauses (a) through (f) above of another Person; and (h) all Indebtedness of the types referred to in clauses (a) through (g) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which any Loan Party or any Subsidiary is a general partner or joint venturer, except to the extent that Indebtedness is expressly made non-recourse to such Person.

  • Lease means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.

  • Non-Financing Lease Obligation means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Financing Lease Obligation.

  • Consolidated Debt means, at any date, the Debt of the Borrower and its Consolidated Subsidiaries, determined on a consolidated basis as of such date.

  • Consolidated Fixed Charges means, with respect to any Person for any period, the sum, without duplication, of:

  • Permitted Sale and Leaseback Transaction has the meaning provided in Section 3.02(b).