Material Lease Amendment definition
Material Lease Amendment means any of the following:
Material Lease Amendment means any of the following: (a) a waiver of any ▇▇▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ or a waiver of any other Tenant Event of Default that remains uncured more than ninety (90) days after the occurrence of such Tenant Event of Default, (b) a reduction in Base Rent, Minimum Rent, or Variable Rent, (c) a material increase in Landlord’s obligations under the Lease, (d) a direction to Tenant to pay Base Rent to any location other than the Account referenced in Section 5.2 of the Current Lease, (e) a material reduction to Tenant’s obligations to (i) maintain insurance as required by Article XIV of the Lease, (ii) pay Taxes and Impositions as required by Article VI of the Lease, or (iii) maintain the Leased Property as required by Section 7.1 of the Lease, (f) a material modification of Tenant’s obligation to pay Casualty Proceeds or Taking Proceeds to Landlord or Secured Party as and to the extent required by Articles XV and XVI of the Lease, (g) a change to the definition of the terms Permitted Lease Assignment or Permitted Tenant Transferee which would expand Tenant’s right to make Lease Assignments without Landlord’s consent, (h) a reduction of the Lease Term except in connection with Tenant’s election or deemed election not to extend for a Renewal Term or in connection with a termination of the Lease pursuant to and as provided in the Lease, (i) any material limitation of the terms Permitted Sale or Permitted Landlord Liens or Permitted Equity Transfer, (j) a material reduction of or limitation to the Tenant Environmental Liabilities or Tenant’s indemnification obligations under Section 21.1 of the Lease, (k) a termination of the Lease except pursuant to its terms, which permitted termination provisions include, without limitation, Tenant’s election or deemed election not to extend for a Renewal Term or in connection with a termination of the Lease pursuant to and as provided in the Lease (including, without limitation, Tenant Purchase Offer Rights and Tenant First Refusal Rights), (l) a change to the definition of any of the terms Disqualified Person, Beneficial Owners, Competitor or Adverse Party which would have the effect of expanding the universe of “Persons” that could be included within any such term, (m) a modification of Section 17.4 of the Lease that expands the conditions under which the Tenant or the Tenant Guarantor can be released from its obligations under the Lease or the Tenant Guaranty, respectively, or (n) a modification of the Landlord Events of Defau...
Material Lease Amendment means a “Material Lease Amendment” as defined in the SNDA.
Examples of Material Lease Amendment in a sentence
Secured Party acknowledges and agrees that neither Secured Party’s nor any Lender’s consent shall be required for any amendment or other modification of the Lease other than a Material Lease Amendment.
Any Lease or any Material Lease Amendment, termination, assignment or other transfer of any Lease entered into without the express written consent of Beneficiary shall be null and void.
In addition, the Borrower shall provide written notice to the Agent within three (3) Business Days of any amendment of, or waiver or consent under, any Lease which does not constitute a Material Lease Amendment.
More Definitions of Material Lease Amendment
Material Lease Amendment as defined in the SNDA. Maturity Date. December 31, 2015, or if the Maturity Date is extended pursuant to §3.1(c), December 30, 2016, or such earlier date on which the Loans shall become due and payable pursuant to the terms hereof. Moody’s. ▇▇▇▇▇’▇ Investors Service, Inc.