Initial Master Lease definition
Examples of Initial Master Lease in a sentence
Each Master Lease Site in addition to the Initial Master Lease Sites will be made subject to this Agreement by means of a Conversion Closing (after which Lessor and Lessee will execute and deliver at a Technical Closing a Master Lease Site Designation Supplement between Lessor and Lessee and the amendment of Exhibit A hereto to reflect such Site as a Master Lease Site instead of a Pre-Lease Site).
Leasehold Mortgages relating to the Initial Master Lease Properties and the Other Leased Properties 7.
HCRI and Company attempted to resolve the Defaults by entering into a Master Lease Offer dated March 12, 2001, as supplemented by letters dated April 25, 2001 and June 13, 2001 (collectively called "Initial Master Lease Offer").
The Initial Master Lease Offer and the Westerville Note may be collectively called the "Initial Settlement Documents".
Except for the Initial Master Lease Payments, for so long as any portion of the Loan remains outstanding, all payments of rent under each Master Lease shall be remitted by the applicable Master Tenant directly to the Cash Management Account pursuant to the Master Lease and Section 2.6.1(a).
If a Cash Sweep Period shall commence during the Stub Period, Borrower shall deposit such Initial Master Lease Payments into the Cash Management Account and Lender shall disburse and/or apply such amounts in accordance with this Agreement and the Cash Management Agreement.
In connection with the Initial Master Lease Offer, Company executed and delivered to HCRI a note in the original principal amount of $216,867.00 to fund, in part, the acquisition of personal property for the Westerville Facility ("Westerville Note").
Such Initial Master Lease Payments shall be deemed held by Borrower in trust for Lender from the Closing Date through the first Payment Date under the Loan (the “Stub Period”), on which date Borrower shall be permitted to utilize such funds in any manner not prohibited by the Loan Agreement, provided that Borrower has paid to Lender the applicable Monthly Debt Service Payment Amount (and any other amounts due to Lender) due on such Payment Date.
Therefore, for the purposes of this Sublease, wherever in the Master Lease the word "Landlord" is used it shall be deemed to mean the Sublandlord herein and wherever in the Master Lease the word "Tenant" is used it shall be deemed to mean the Subtenant herein (provided that with respect to Article 15 of the Initial Master Lease, Subtenant shall have no further right to assign its interest in this Sublease or Sublease all or any part of the Subleased Premises whatsoever.
On the Closing Date (i) all Initial Master Lease Properties will be leased under the Master Lease Agreements and (ii) all Third Party Leases and the Management Contracts will be assigned to Vencor.