New Operating Lease definition

New Operating Lease has the meaning set forth in Section 7.6(b).
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New Operating Lease means that certain lease to be entered into at Closing between New Propco and Opco in the form set forth in Exhibit B hereto (as the same may be modified pursuant to Section 6.16, if applicable).
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New Operating Lease means (i) if and only if the closing of the MTA shall have occurred prior to the time of the Closing, the “New Operating Lease” as such term is defined in the New Operating Lease Execution Agreement (VICI), or (ii) if and only if the MTA shall have been terminated or is otherwise of no further force and effect at the time of the Closing, the “New Operating Lease” as such term is defined in the New Operating Lease Execution Agreement (Propco).
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Examples of New Operating Lease in a sentence

  • The New Operating Lease, duly executed by the appropriate wholly-owned subsidiary of each of Owner JV and Lessee JV.

  • The New Operating Lease SNDA shall have been entered into by Existing Propco Mortgage Lender (if the Existing Financing held by such Existing Propco Mortgage Lender will remain in effect after the Closing) or New Propco Lender (if New Propco is obtaining New Propco Debt Financing), as applicable, or Existing Propco Mortgage Lender or New Propco Lender, as applicable, shall be ready, willing and able to enter into the New Operating Lease SNDA as of the Closing should Closing occur.

  • All terms used in this Section 6.16 but not otherwise defined in this Agreement shall have the respective meanings ascribed thereto in the form of New Operating Lease attached hereto as Exhibit B.

  • Notwithstanding anything to the contrary contained herein, Lender may consent to the termination of the Operating Lease and substitution of a new operating lease or if applicable a management agreement entered into pursuant to the formation of the taxable REIT subsidiary (the "New Operating Lease") in its sole discretion.

  • The New Operating Lease shall have been entered into by New Propco or New Propco shall be ready, willing and able to enter into the New Operating Lease as of the Closing should Closing occur.

  • Form HUD-92466-NHL) Review Items: Ensure compliance with Form HUD-92466-NHL (1/92), “Regulatory Agreement Nursing Homes”.* Confirm the following critical items: The date of the agreement matches the date of the New Operating Lease or the Assignment and Assumption of Operating Lease, as applicable.

  • During the Initial Term, the New Operating Lease Agreement may be terminated at the option of the Group by giving at least three months’ notice to Liyuan.

  • If and only if the MTA shall have been terminated or is otherwise of no further force and effect at the time of the Closing, Buyer shall have received duly executed copies from Propco of the agreements identified in the New Operating Lease Execution Agreement (Propco) to be delivered by Propco at Closing including the “New Operating Lease” as such term is defined in the New Operating Lease Execution Agreement (Propco).

  • No Governmental Entity of competent jurisdiction shall have issued any order, injunction or decree that is in effect, and no law shall have been enacted or promulgated, that renders the Sale or the transactions contemplated by the New Operating Lease Execution Agreement (VICI) illegal, or prohibits, enjoins, restrains or otherwise prevents the Sale or the transactions contemplated by the New Operating Lease Execution Agreement (VICI).

  • Confirm the following critical items: The date of the agreement matches the date of the New Operating Lease or the Assignment and Assumption of Operating Lease, as applicable.


More Definitions of New Operating Lease

New Operating Lease shall have the meaning set forth in the Recitals.
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Related to New Operating Lease

  • Operating Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which is not a Capital Lease.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

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

  • 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.

  • 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:

  • 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.

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • Master Lease Agreement has the meaning set forth in Section 7.2(c)(xiv).

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • 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).

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Facility Lease means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and substance reasonably satisfactory to the Administrative Agent.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Occupancy Agreement means a written agreement entered into between an assisted living program and a tenant that clearly describes the rights and responsibilities of the assisted living program and a tenant, and other information required by rule. “Occupancy agreement” may include a separate signed lease and signed service agreement.

  • Sub-Lessee means a lease/license by a Lessee of part or all of leased space to another person.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.