Operating Lease definition

Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

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Operating Lease means, as to any Person as determined in accordance with GAAP, any lease of property (whether real, personal or mixed) by such Person as lessee which is not a Capital Lease.

Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

Examples of Operating Lease in a sentence

Borrower will cause Operating Lessee to remain in good standing under the laws of each jurisdiction to the extent required for the ownership of its interest in the Operating Lease.
Each Operating Lessee has the power and authority to perform its obligations under its respective Operating Lease, to execute, deliver and perform under the Loan Documents to which it is a party, and to lease and operate the applicable Property and to carry on its business as contemplated to be conducted in connection with the performance of its obligations under the applicable Operating Lease.
Operating Lessee is duly qualified to do business and is in good standing in each jurisdiction where it is required to be so qualified in connection with the applicable Operating Lease.
Operating Lessee possesses all rights, licenses, permits and authorizations, governmental or otherwise, necessary to entitle it to own the applicable Operating Lease, to operate the applicable Property and to transact the businesses in which it is now engaged.
Operating Lessee shall not enter into any line of business other than the ownership, operation, development, maintenance, leasing, financing, licensing and management of the leasehold interest in the Operating Lease, or make any material change in the scope or nature of its business objectives or, purposes or undertake or participate in activities other than the continuance of the foregoing business objectives and purposes.

More Definitions of Operating Lease

Operating Lease of a Person means any lease of Property (other than a Capital Lease) by such Person as lessee.

Operating Lease means, as applied to any Person, any lease of Property which is not a Capital Lease.

Operating Lease means any lease of (or other agreement conveying the right to use) any real or personal property by any Loan Party, as lessee, other than any Capital Lease.

Operating Lease means, as to any Person, as determined in accordance with GAAP, any lease of property (whether real, personal or mixed) by such Person as lessee which is not a Capital Lease.

Operating Lease means an operating lease determined in accordance with GAAP.

Operating Lease means any lease of real, personal, or mixed property that is not a Capital Lease.

Operating Lease means any lease other than a Capitalized Lease.