Initial Lessee definition

Initial Lessee means the first lessee in the chain of title extending back to the most recent occasion when the property was not subject to a lease. Source: S.L. No. 5L-17-00 §1, 9/18/00 42 PC 2-105. Effect on mortgages and deeds of trust. 42 PC 2-104 shall not restrict the issuance of a mortgage or deed of trust pursuant to state law on the leasehold property specified in 42 PC 2-104 for the purpose of improving said property for the benefit of the holders of the interests in said leasehold, nor of the sale of the leasehold estate pursuant to foreclosure under said state laws to persons who are not of the immediate family. Source: S.L. No. 5L-17-00 §2, 9/18/00 42 PC 2-106. Tenancies of five years or less. 42 PC 2-104 shall not restrict the establishment of landlord-tenant relationships with respect to the lease of the leasehold property or portion thereof of five years or less, inclusive of any options to extend or renew said tenancy, between the initial lessee, or successor in interest, and any person(s) who are not of the immediate family. For purposes of this part, an assignment or sublease of five years or less, inclusive of options to extend or renew the agreement, shall be deemed a tenancy. Source: S.L. No. 5L-17-00 §3, 9/18/00 42 PC 2-107. Regulations. The Pohnpei Public Lands Trust Board of Trustees may issue regulations for the proper enforcement of this part; PROVIDED, HOWEVER, that any sublease, assignment, rental agreement or other conveyance subject to this part, but not in compliance therewith, shall be null and void, and of no effect.
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Initial Lessee means, in respect of an Aircraft and the Lease therefor, the Person defined as the "Lessee" in the Borrowing Date Supplement referable to such Aircraft.
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Initial Lessee means each lessee party to an Initial Lease.
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Examples of Initial Lessee in a sentence

  • Lessor and Lessee will also negotiate in good faith to establish a refurbishment allowance for the Leased Premises, which shall be administered by Lessor on the same terms and conditions as the Improvement Allowance for the Initial Lessee Improvements.

  • Initial Lessee acknowledges receipt of a copy of “Recycling and Household Hazardous Waste Addendum” which is attached and made a part of this lease.

  • Initial Lessee expressly agrees to indemnify and hold Lessor and it’s agents, affiliates, and personnel, harmless of, from and against any and all loss, cost, damages, attorney fee and/or liability in connection with the enforcing of the forgoing rental contract by Lessor, including expense occurred in connection with attempting to collect delinquent rent and in the event of suit by Lessor, to recover possession of said rental property and/or to enforce any terms, conditions, and/or provisions hereof.

  • Request that Port Hedland International Airport provide the Town with a Capital Works Program by 31 March 2019, for inclusion in the Initial Lessee Masterplan as detailed in the Novation and Operating Deed; 4.

  • Nothing herein shall limit or preclude transfers of membership interests of the Initial Lessee, or redesignation or substitution of a member of the Lessee, except that the transfer, assignment, redesignation or substitution of Gorman & Company, Inc.

  • If this parameter is unspecified, the service alias defaults to the empty string.

  • Nothing in this Lease shall be construed as the City’s delegation or abdication of its zoning authority or powers and no zoning approval that Initial Lessee may require to complete its performance under this Lease has been or shall be deemed agreed to, promise or contracted for by this Lease.

  • Lessee shall construct Initial Lessee Improvements, Alterations and Preservation Maintenance in accordance with all Applicable Laws, the Hotel Standard and all approved Design and Construction Documents and in accordance with this Section 15 and all other terms, agreements, covenants, conditions and provisions of this Lease.

  • The procedure set forth herein shall be repeated until Lessor approves of the Initial Lessee Improvements.

  • In the event Lessor disapproves of the Initial Lessee Improvements, Lessor shall provide notice to Lessee of such disapproval with a reasonably detailed description of the grounds for such disapproval no later than five (5) business days following Lessor’s receipt of the description of the Initial Lessee Improvements.


More Definitions of Initial Lessee

Initial Lessee s Representatives: Xxxxxx X.
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Initial Lessee means the person that is the current lessee of the Aircraft, as specified in Schedule 1 (Aircraft).
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Related to Initial Lessee

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

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Sub-Lessee means a lease/license by a Lessee of part or all of leased space to another person.

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

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

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Timber owner means any person having all or any part of the legal interest in timber. Where such timber is subject to a contract of sale, "timber owner" shall mean the contract purchaser.

  • Project Owner means the legal entity that ultimately owns the Project and to which Tax Credits will be allocated.

  • 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.

  • New Owner means, collectively, the HDFC and the Company.

  • 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.

  • Operating Partnership has the meaning set forth in the preamble.

  • Rental company means a person or entity in the business

  • 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).

  • Lease-purchase agreement means an agreement for the use of personal property by an individual for personal, family or household purposes, for an initial period of four months or less, that is automatically renewable with each payment after the ini- tial period, but does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and that permits the consumer to become the owner of the property.

  • Owner-builder means an owner or lessor of real property who, by himself or by or through others, constructs or has constructed or reconstructs or has reconstructed any improvement to real property.

  • Apartment owner means the person owning an apartment and an undivided interest in the common areas and facilities appurtenant to such apartment in the percentage specified in the conveyance deed of apartment;

  • Permitted Lessee means any Person to whom the Company is permitted to lease the Airframe or any Engine pursuant to Section 7.02(a) of the Indenture.

  • Net Lease means a lease in which the tenant undertakes to pay all or substantially all the cash expenses, excluding debt service, related to the leased property.

  • 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.

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • Contract Owner means the holder of interests in a variable annuity or variable life insurance contract issued by the Company.

  • Cooperative Lease With respect to a Cooperative Loan, the proprietary lease or occupancy agreement with respect to the Cooperative Apartment occupied by the Mortgagor and relating to the related Cooperative Stock, which lease or agreement confers an exclusive right to the holder of such Cooperative Stock to occupy such apartment.

  • 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: