Net Lease definition

Net Lease means a lease in which the tenant undertakes to pay all or substantially all the cash expenses, excluding debt service, related to the leased property.

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Net Lease means a lease which requires the tenant to coordinate and pay directly all real estate taxes, sales and use taxes, utilities, insurance and other operating expenses relating to the leased property. In addition, except to the extent that compensation for leasing services is specifically included in the foregoing property management fees, Owner shall also pay Manager a separate fee for the leases of new tenants and renewals of leases with existing tenants in an amount not to exceed the fee customarily charged by others rendering similar services in the same geographic area; provided, however, that in no event may the aggregate of all property management fees and leasing fees paid to Manager exceed six percent (6.0%) of Gross Revenues, and further provided that the foregoing limitation is not intended to preclude the payment of a separate competitive fee for the one-time initial rent-up or leasing-up of a newly constructed property or the total rehabilitation of a property if such service is not included in the purchase price of the property. The fees payable hereunder shall be paid on a monthly basis from the rental income received from the Properties over the term of this Management Agreement. Manager's compensation under this Section 5.1 shall apply to all renewals, extensions or expansions of Leases that Manager has originally negotiated. In the event Manager assists with planning and coordinating the construction of any tenant-paid finish-out or improvements, Manager shall be entitled to receive from any such tenant an amount equal to not greater than five percent (5.0%) of the cost of such tenant improvements.

Net Lease means a lease under which the bank will not, directly or indirectly, provide or be obligated to provide for:

Examples of Net Lease in a sentence

Borrower (i) has obtained and delivered to Administrative Agent certificates of insurance for the Property reflecting the insurance coverages, amounts and other insurance requirements Net Lease Tenant is required to satisfy pursuant to the terms of the Net Lease, and (ii) has not, and to Borrower’s knowledge, no other Person has done, by act or omission, anything which would materially and adversely impair the coverage of any such policy.
So long as a Net Lease is in full force and effect, to the extent there is an inconsistency between the terms and conditions contained in the applicable Net Lease and the terms and conditions of this Agreement or the other Loan Documents as to the matters covered by this Section 4.10, the terms and conditions of the applicable Net Lease shall control.
Subject to the Net Lease, Administrative Agent shall be entitled hereunder to all Condemnation Awards.
Within forty-five (45) days after the filing of any mechanic’s lien or other lien or encumbrance against the Property, Borrower will or will cause Net Lease Tenant to promptly discharge the same by payment or recording a bond or otherwise as permitted by Law.
Notwithstanding the foregoing, or anything else herein to the contrary (except to the extent required otherwise by the terms of the Net Lease), all proceeds of business interruption/rent loss insurance may be collected by and shall be paid to Administrative Agent and applied in accordance with Section 4.8(h).

More Definitions of Net Lease

Net Lease means a lease under which the association will not be, directly or indirectly, obligated to provide for:

Net Lease means each of the Leases listed on Schedule N.

Net Lease means a lease or other contract under which the owner provides equipment to a lessee or other operator in return for a payment, and the lessee assumes all obligations and pays for the operation, repair, maintenance and insuring of the equipment.

Net Lease. This Agreement is a net lease. Lessee's obligations under this Agreement are absolute and unconditional irrespective of any contingency whatsoever including (but not limited to):- (a) any right of set-off, counterclaim, recoupment, defense or other right which either party to this Agreement may have against the other; (b) any unavailability of the Aircraft for any reason, including, but not limited to, a requisition of the Aircraft or any prohibition or interruption of or interference with or other restriction against Lessee's use, operation or possession of the Aircraft; (c) any lack or invalidity of title or any other defect in title, airworthiness, merchantability, fitness for any purpose, condition, design, or operation of any kind or nature of the Aircraft for any particular use or trade, or for registration or documentation under the laws of any relevant jurisdiction, or any Event of Loss in respect of or any damage to the Aircraft; (d) any insolvency, bankruptcy, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceedings by or against Lessor or Lessee; (e) any invalidity or unenforceability or lack of due authorization of, or other defect in, this Agreement; (f) and Security Interests with respect to the Aircraft or Taxes; and/or (g) any other cause which but for this provision would or might otherwise have the effect of terminating or in any way affecting any obligation of Lessee under this Agreement.

Net Lease means that certain Second Amended and Restated Agreement of Lease, 39 dated as of July 16, 2001, as amended to date, by and between the Port Authority, as lessor, and Landlord, 1 as lessee, as the same may hereafter be modified, amended, revised, restated or supplemented from time

Net Lease means a net lease pursuant to which the tenant is responsible for all operating costs and expenses in connection with the property; provided, however, in the event that such lease does not make such tenant responsible for insurance premiums and/or maintenance and/or repair of such property, the same shall not disqualify such lease from being a Net Lease.”

Net Lease. Landlord and Tenant acknowledge and agree that this is an "absolute net lease" and that Landlord shall receive all payments required to be made by Tenant, free from all charges, assessments, impositions, expenses and deductions of any and every kind or nature whatsoever. Landlord shall have no obligations relating to the repair, maintenance or operation of the Premises, or any part thereof; Tenant shall be solely responsible for same.