LTF Lease definition

LTF Lease. A lease agreement between a Real Estate Subsidiary, as lessor, and a Restricted Subsidiary, as lessee, relating to a Club or a Non-Club Building.
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LTF Lease appearing in Section 1.1 of the Original Agreement is amended in its entirety to read as follows:
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LTF Lease. With respect to: (a) a Club, a long term lease agreement between a Real Estate Subsidiary, as lessor, and Operations (and, in the case of any LTF Lease relating to a Permitted Permanent Loan originally made by Teachers and outstanding on the Closing Date, the Borrower), as lessee, relating to such Club; or (b) the Borrower’s corporate headquarters office buildings, a long term lease between the relevant single purpose Real Estate Subsidiary, as lessor, and the Borrower or Operations, as lessee, relating to such office buildings.
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Examples of LTF Lease in a sentence

  • Company shall comply with, and shall cause each applicable Restricted Subsidiary to comply with, its obligations under each LTF Lease in all material respects such that neither the Encumbered Real Estate Subsidiary that is the lessor under such LTF Lease nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease has at any time the right to terminate such LTF Lease by reason of default by Company or Operations under such LTF Lease.

  • The Borrower shall cause Operations to comply with, its obligations under each LTF Lease in all respects such that neither the Real Estate Subsidiary that is the lessor party thereto nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease shall have the right to terminate such LTF Lease by reason of default by the Borrower or Operations, as the case may be, thereunder.

  • The Borrower shall comply with, and shall cause Operations to comply with, their respective obligations under each LTF Lease in all respects such that neither the Real Estate Subsidiary that is the lessor party thereto nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease shall have the right to terminate such LTF Lease by reason of default by the Borrower or Operations, as the case may be, thereunder.

  • The Borrower shall comply with its obligations under each LTF Lease in all respects such that neither the Real Estate Subsidiary that is the lessor party thereto nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease shall have the right to terminate such LTF Lease by reason of default by the Borrower thereunder.


More Definitions of LTF Lease

LTF Lease. A long term lease agreement between a Real Estate Subsidiary, as lessor, and the Borrower (or, after the consummation of the Restructuring, LTF Club Operations Company, Inc., a Minnesota corporation (‘Operations’)), as lessee, relating to a Club.”
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Related to LTF Lease

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • 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:

  • 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).

  • 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.

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.