Operating Leases definition

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.
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Operating Leases means operating leases, as defined in accordance with GAAP.
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Operating Leases means any lease of (or other agreement conveying the right to use) any real or personal property by the Borrower or any Restricted Subsidiary, as lessee, other than any Capital Lease.
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Examples of Operating Leases in a sentence

  • The Operating Leases and the Operating Lease Guaranty are in full force and effect and there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • There are no prior assignments of the Leases (including the Operating Leases) or of the Rents (or any Revenue) due and payable or to become due and payable which are presently outstanding.

  • Borrower shall cause each Individual Property to be at all times operated, managed and maintained, at all times and in the manner and accordance with the standards required pursuant to the Operating Leases and all applicable Legal Requirements in all material respects.

  • Borrower shall not permit (or cause or permit Mortgage Borrower to permit) the prepayment of any rents under the Operating Leases for more than one (1) month prior to the due date thereof.

  • Lender shall have received copies of the Operating Leases, each Operating Lease Guaranty and the Gaming Equipment Facility Agreements, which shall be reasonably satisfactory in form and substance to Lender.


More Definitions of Operating Leases

Operating Leases means leases that are not Capital Leases.
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Operating Leases means, as applied to any person, any lease (including leases that may be terminated by the lessee at any time) by such person of any property (whether real, personal or mixed) that is not required to be classified and accounted for as a capital lease on such person's balance sheet in accordance with GAAP, other than any such lease under which such person is the lessor.
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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 (prior to the effectiveness date of FASB ASC 842), would not be 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. For the avoidance of doubt, Facility-Related Leases shall be deemed to constitute Operating Leases.
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Operating Leases means (i) the Lease Agreement between ESA P Portfolio L.L.C., ESA P Portfolio MD Trust, ESH/TN Properties L.L.C. and ESA P Portfolio Lessee L.L.C. dated October 8, 2010, as amended April 9, 2012, November 30, 2012, December 13, 2012, April 15, 2013, November 11, 2013, July 28, 2014, December 8, 2015, and February 22, 2016, and amended and restated August 30, 2016; (ii) the Lease Agreement between ESA Canada Administrator L.L.C., ESA Canada Properties Trust and ESA Canada Operating Lessee Inc. dated October 8, 2010, as amended November 30, 2012, November 11, 2013, and February 22, 2016, and amended and restated August 30, 2016; (iii) the Lease Agreement between ESA UD Properties L.L.C. and ESA 2007 Operating Lessee Inc. dated October 8, 2010 and amended November 11, 2013 and February 22, 2016; and (iv) the Lease Agreement between ESA LVP Portfolio L.L.C. and ESA LVP Operating Lessee L.L.C. dated December 31, 2013.
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Operating Leases means all leases of property (whether real, personal or mixed) other than Capital Leases.
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Operating Leases means any lease of property (whether real, personal or mixed) for a period of longer than one year by a Person under which such Person is lessee, other than a Capital Lease.
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Operating Leases means leases for which the obligations thereunder are not classified as Capitalized Lease Obligations under GAAP (subject to the proviso in the definition of Capitalized Lease Obligations).
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