Property Lease Rent definition

Property Lease Rent means an amount of base and, if applicable, variable rent (i.e. excluding additional charges and other additional rent such as pass-throughs of expenses) to be paid under the Property Lease. The initial rent under the Property Lease will be determined based on an EBITDAR coverage ratio with respect to the Property (based on the most recently ended four fiscal quarter period for which financial statements are available as of the date of Propco’s election of the Call Right) of 1.67x (i.e. the ratio of EBITDAR for such period to the initial rent under the Property Lease will be 1.67 to 1). The initial Property Lease Rent shall adjust during the term of the Property Lease on terms consistent with the Non-CPLV Master Lease, unless the Owner and Propco otherwise agree.
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Property Lease Rent means an amount of base and, if applicable, variable rent to be paid under the Property Lease. The initial rent under the Property Lease will be determined based on an EBITDAR coverage ratio with respect to the Property (based on the most recently ended four fiscal quarter period for which financial statements are available as of the date of Propco’s election of the Call Right) of .4 The initial Property Lease Rent shall adjust during the term of the Lease on terms consistent with the [Non-CPLV Master Lease]5, unless the Owner and Propco otherwise agree. 4 Coverage Ratio subject to discussion. 5 To be defined in final document.
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Property Lease Rent means an amount of base and, if applicable, variable rent (i.e. excluding additional charges and other additional rent such as pass-throughs of expenses) to be paid under the Property Lease. The initial rent under the Property Lease will be determined based on an EBITDAR coverage ratio with respect to the Property (based on the most recently ended four fiscal quarter period for which financial statements are available as of the date of Propco’s election of the Call Right) of 1.67x (i.e. the ratio of EBITDAR for such period to the initial rent under the Property Lease will be 1.67 to 1). The initial Property Lease Rent shall adjust during the term of the Property Lease on terms consistent with the [Non-CPLV Master Lease]7, unless the Owner and Propco otherwise agree.
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Examples of Property Lease Rent in a sentence

  • The Property Lease shall provide for the following: (a) the date the Property Lease Rent becomes payable shall be the date that is concurrent with the acquisition of the Property; (b) from and after such date, rent shall be equal to the Property Lease Rent; and (c) such other terms and conditions as Owner and Propco may agree upon, with both Owner and Propco being obligated to act in a commercially reasonable manner.

  • The Property Lease shall provide for the following: (a) the date the Property Lease Rent becomes payable shall be the date that is concurrent with the acquisition of the Property; (b) from and after such date, rent shall be equal to the Property Lease Rent; and (c) such other terms and conditions as Owner and Propco may agree.

  • If Owner makes an Owner Proposal, Propco shall make a commercially reasonable determination of whether 11 Note that additional back-up items will also be added to this section, depending on how the Purchase Price and Property Lease Rent are to be determined.


More Definitions of Property Lease Rent

Property Lease Rent means an amount of base and, if applicable, variable rent (i.e. excluding additional charges and other additional rent such as pass-throughs of
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Property Lease Rent means an amount of base and, if applicable, variable rent (i.e. excluding additional charges and other additional rent such as pass-throughs of 6 NTD: Insert the date that is the five (5) years after the signing date. expenses) to be paid under the Property Lease. The initial rent under the Property Lease will be determined based on an EBITDAR coverage ratio with respect to the Property (based on the most recently ended four fiscal quarter period for which financial statements are available as of the date of Propco’s election of the Call Right) of 1.67x (i.e. the ratio of EBITDAR for such period to the initial rent under the Property Lease will be 1.67 to 1). The initial Property Lease Rent shall adjust during the term of the Property Lease on terms consistent with the [Non-CPLV Master Lease]7, unless the Owner and Propco otherwise agree.
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Related to Property Lease Rent

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Real Property Lease has the meaning set forth in Section 3.9(b).

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

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Real Property Leases has the meaning set forth in Section 4.7(b).

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Company Leased Real Property shall have the meaning set forth in Section 3.15(b).

  • 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).

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • 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:

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Leases means all present and future leases, subleases, licenses, concessions or grants or other possessory interests now or hereafter in force, whether oral or written, covering or affecting the Mortgaged Property, or any portion of the Mortgaged Property (including proprietary leases or occupancy agreements if Borrower is a cooperative housing corporation), and all modifications, extensions or renewals.

  • Material Leased Real Property shall have the meaning set forth in Section 3.17(b).

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • 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.

  • Base Rent As defined in Section 3.1.

  • Master Leases refers to the four second amended and restated master lease agreements, dated as of April 27, 2007, by and among the Operating Partnership and Kindred Healthcare, Inc. and Kindred Healthcare Operating, Inc.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • 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.