Material Leasehold Property definition

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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Material Leasehold Property means a Leasehold Property which (a) is a retail or super store or distribution center or (b) has been reasonably determined by the Administrative Agent to be of material value as Collateral or of material importance to the operations of the Credit Parties after weighing the value of such property as additional Collateral against the costs and expenses associated with satisfying the requirements of Section 6.13.

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 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.
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.
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 termination of this Agreement, Customer will promptly pay to BMO all such amounts due or to become due under this Agreement.
Without limiting the generality of the foregoing, each Credit Party will, if requested by the Lenders, use commercially reasonable efforts to obtain a Landlord’s Waiver and Consent from each lessor of a Material Leasehold Property on which any of the Collateral is or is to be located to the extent requested by the Lenders.

More Definitions of Material Leasehold Property

Material Leasehold Property means (i) any leasehold interest of any Loan Party as lessee under any lease of real property leased as of the Closing Date and (ii) any leasehold interest of any Loan Party as lessee under any lease of real property where the fair market value of such real property is in excess of $5,000,000.

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

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 Credit Parties (taken as a whole).

Material Leasehold Property means a Leasehold Property that is reasonably determined by the Agent to be of material importance to the operations of the Loan Parties (taken as a whole).

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 (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) 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 $1,000,000 or (ii) at which the Obligors maintain any books and records or Collateral with a fair market value in excess of $1,000,000 in the aggregate.