Material Leasehold Property definition

Material Leasehold Property means a Leasehold Property reasonably determined by the Administrative Agent in good faith consultation with the Borrower to be of material importance to the operations of the Credit Parties, taken as a whole.

Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

Material Leasehold Property means a Leasehold Property reasonably determined by the Collateral Agent to be of material value as Collateral or of material importance to the operations of any Principal Company or any of its Subsidiaries; provided, however that, excepting any such Leasehold Properties set forth on Schedule 5.5(a) annexed hereto, no Leasehold Property with respect to which the aggregate amount of all rents payable during any one Fiscal Year never exceeds $250,000 shall be a “Material Leasehold Property”.

Examples of Material Leasehold Property in a sentence

• If Holdings or any of its Subsidiaries acquires any Material Leasehold Property, Holdings shall use commercially reasonable efforts to, or shall cause such Subsidiary to use commercially reasonable efforts to, cause such Leasehold Property to be a Conforming Leasehold Interest and Holdings shall deliver evidence of the foregoing to Administrative Agent.

• If Borrower or any of its Subsidiaries acquires any Material Leasehold Property, Borrower shall use its commercially reasonable efforts to, or shall use its commercially reasonable efforts to cause such Subsidiary to, cause such Material Leasehold Property to be a Conforming Leasehold Interest.

• No Loan Party is in breach or violation of any of the terms, conditions or provisions of any Material Contracts or any lease with respect to any Material Leasehold Property, except for such breaches and violations thereof as in the aggregate do not and could not reasonably be expected to have a Material Adverse Effect.

• Upon the request of Administrative Agent or the Requisite Lenders, Holdings shall use commercially reasonable efforts to, or shall cause such Subsidiary to use commercially reasonable efforts to, cause each Material Leasehold Property of Holdings or such Subsidiary to be a Conforming Leasehold Interest.

• In the case of each new lease for a Material Leasehold Property entered into after the Closing Date, the Credit Parties shall (a) provide notice thereof to the Collateral Agent and (b) if requested by the Collateral Agent, (i) provide copies of the lease, and all amendments thereto, between the Credit Party and the landlord or tenant party thereto, and (ii) use commercially reasonable efforts to obtain a Landlord’s Waiver and Consent with respect thereto.

More Definitions of Material Leasehold Property

Material Leasehold Property means a Leasehold Property reasonably determined by the Agent to be of material value as Collateral or of material importance to the operations of the Borrowers or their Subsidiaries.

Material Leasehold Property means each Leasehold Property specified in Schedule 1.1(a).

Material Leasehold Property means (a) the Leasehold Property of the Obligors set forth on Schedule 1.01(a) hereto on the Issue Date and (b) any Leasehold Property acquired by the Obligors after the Issue Date (i) having an annual fair market rental value in excess of $1.0 million or (ii) at which the Obligors maintain any books and records or Collateral with a fair market value in excess of $1.0 million in the aggregate.

Material Leasehold Property means a Leasehold Property (i) with annual rent payable thereunder of $500,000 or more or (ii) with respect to which both the lessor and lessee are Loan Parties.

Material Leasehold Property means any Leasehold Property set forth on Schedule 4.1I hereto and any Leasehold Property reasonably determined by Administrative Agent after the Closing Date to be of material value as Collateral or of material importance to the operations of Holdings or any of its Subsidiaries; provided, however, that, no Leasehold Property with respect to which the aggregate amount of all rents payable during any one Fiscal Year does not exceed $500,000 shall be a "Material Leasehold Property".

Material Leasehold Property means each Leasehold Property for which a Landlord Personal Property Collateral Agreement (or similar agreement) has been delivered or is required to be delivered pursuant to the ABL Credit Agreement.

Material Leasehold Property means a leasehold property where annual rental payments exceed $2,500,000 or as otherwise reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Borrower or any of its Subsidiaries.