Lease Conversion definition

Lease Conversion means any acquisition by the Borrower or any of its Subsidiaries of a facility and related property that had theretofore been leased by the Borrower or any such Subsidiary and that the Borrower or any of its Subsidiaries continues to operate.
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Lease Conversion means any acquisition by the Company or any of its Subsidiaries of a facility and related property that had theretofore been leased by the Company or any such Subsidiary and that the Company or any of its Subsidiaries continues to operate.
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Lease Conversion means, subject to the terms of this Section 7.11(B)(9), a transaction where (i) Landlord and Tenant execute and deliver the Bond Lease, (ii) the constituent owners of equity interests in Landlord and Tenant execute and deliver the Landlord Admission Agreement, (iii) Reimbursement Obligor and Tenant execute and deliver the Reimbursement Agreement, (iv) the Guarantor executes and delivers to Tenant the Guaranty, (v) a reputable investment bank of national recognition as reasonably designated by Landlord issues the Fairness Opinion, and (vi) a reputable law firm of national recognition as reasonably designated by Landlord issues the Enforceability Opinion. Tenant shall have no obligation to consummate the Lease Conversion unless and until Tenant receives (u) the Enforceability Opinion, duly executed and delivered by the aforesaid law firm, (v) the Landlord Admission Agreement, duly executed by the constituent owners of equity interests in Landlord, (w) the Reimbursement Agreement, duly executed and delivered by the Reimbursement Obligor, (x) the Guaranty, duly executed and delivered by the Guarantor, and (y) the Fairness Opinion, duly executed and delivered by the aforesaid investment bank.
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Examples of Lease Conversion in a sentence

  • On and after the Post-FILOT Lease Conversion Date, the Facility Lessee shall maintain good and valid fee, title to, or easement or other surface rights in, as applicable, the Facility Site, subject only to Permitted Liens.

  • Effective as of the Net Lease Conversion Date, Section 5.1.5 shall be amended by inserting the following phrase “and any common lab-specific systems and equipment” in the 5th line after “air-conditioning systems”.

  • In addition, in connection with, and as a consequence of, the 2002 Lease Buyout and the 2002 Lease Conversion, Consolidated EBITDA determined pursuant to the definition thereof set forth in Section 1.1 of the Amended Credit Agreement shall be increased by an amount equal to (i) for the four fiscal quarter period ending on December 31, 2002, $3,934,000 and (ii) for the four fiscal quarter period ending on March 31, 2003, $1,967,000.

  • For the avoidance of doubt, the Net Lease Conversion Date (hereinafter defined), does not accelerate Tenant’s obligation to pay Additional Rent on account of Operating Costs and Taxes for the Expansion Premises prior to the Expansion Premises Rent Commencement Date.

  • Prior to the Lease Conversion Date, District will enter into a lease with Developer whereby District will sublease the parking levels of the Sublease Project (the “Parking Garage”) from Developer for a period of ten years from the Lease Conversion Date (the “Garage Sublease”).

  • Except for the 2006 Lease Agreement, the 1987 Minerals Lease, the 1994 Mining Lease, the 1990 Exploration Agreement and Option, the 1995 Agreement, the First Amendment, and that Lease Conversion Agreement between Newmont, NNR and NNL, Newmont is not a party to any agreement or contract pertaining to the Properties.

  • As of the Sublease Date and on the Lease Conversion Date, if any, District hereby represents and warrants to District that, to the best of the District’s Board Chairman’s knowledge.

  • Unless earlier terminated pursuant to the terms hereof, the term of this Sublease (the “Term”) shall commence on the Sublease Date and terminate on the Lease Conversion Date (as defined below).


More Definitions of Lease Conversion

Lease Conversion shall have the meaning set forth in Section 7.11 hereof.
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Lease Conversion means that all of the following shall happen concurrently, pursuant to documentation reasonably satisfactory to an Affiliate of Lender but substantially similar in form and substance to the Group Four Acquisition Transaction Documents (as that term is defined in the Agreement Regarding Related Transactions):
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