Pad Lease definition

Pad Lease means a lease demising the Pad.
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Pad Lease means, for each Home, the agreement pursuant to which the Pad for such Home is leased to the Resident of such Home.
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Examples of Pad Lease in a sentence

  • Lender shall have received the form of Home Lease approved by Lender attached hereto as Exhibit F is approved by Lender (“Approved Home Lease Form”) and a form of Pad Lease approved by Lender, and if requested, copies of the Existing Combined Leases and Existing HAP Leases, which shall be certified by Borrower as being true, correct and complete copies.

  • The Homes are not subject to any leases other than its corresponding Home Lease, its corresponding Pad Lease, its corresponding Existing Combined Lease or Existing HAP Lease, as the case may be.

  • Until such time as Purchaser shall have entered into a lease for that portion of the Washington Land known as the "pad site" (the "Washington Pad Lease") and rent is being paid thereunder, upon delivery to Escrow Agent (with a copy to Seller) of an affidavit of Purchaser's chief executive officer stating that the Washington Pad Lease has not been executed or that rent thereunder is not yet payable, Purchaser shall be entitled to receive from Escrow Agent monthly the amount of $8,000.00.

  • Unless otherwise waived by Lender in writing and provided all other conditions to Advances are satisfied, only Homes that are subject to a separate Home Lease and a separate Pad Lease shall qualify for Advances except for Homes that are currently subject to Existing Combined Leases or Existing HAP Leases.

Related to Pad Lease

  • Head Lease or “Superior Lease” means the document which sets out the promises the Landlord has made to the Superior Landlord. The promises contained in this Head Lease will bind the Tenant if he has prior knowledge of those promises.

  • 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:

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

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

  • 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).