Replaced Properties definition
Examples of Replaced Properties in a sentence
All options, rights of first refusal or any other right to lease or purchase all or any portion of the Proposed Replaced Properties, if any, held by any past or present tenant or any other person with an interest in the Proposed Replaced Properties have either been terminated, waived or expired, such that the Proposed Replaced Properties can be released from the Property Pool without any resulting adverse consequences to Lender.
Borrower may, subject to the conditions in this Section, substitute one or more properties (each a "Substitute Property" and collectively the "Substitute Properties") for a then encumbered Facility (a "Replaced Property" and collectively, the "Replaced Properties").
Without limiting any of the obligations of Discount under the Sale-Leaseback Documents, Discount shall be responsible for the payment of all obligations accruing under the Master Leases with respect to the Replaced Properties and the Substitute Properties prior to the Closing.
Discount and Dapper III entered into the Dapper III Sale-Leaseback Agreement pursuant to which Dapper III and Remainderman III acquired their respective interests in the Dapper III Properties, including, without limitation, the Dapper III Replaced Properties.
Dapper II leases the Dapper II Properties, including, without limitation, the Dapper II Replaced Properties, to Discount pursuant to the Dapper II Master Lease.
Discount has advised Dapper I and FFC that it desires to provide for the substitution of the Dapper I Replaced Properties with the Dapper I Substitute Properties under the Dapper I Master Lease, which would require the substitution of the Dapper I Replaced Properties with the Dapper I Substitute Properties under the Dapper I Loan Documents.
Discount and Dapper II entered into the Dapper II Sale-Leaseback Agreement pursuant to which Dapper II and Remainderman II acquired their respective interests in the Dapper II Properties, including, without limitation, the Dapper II Replaced Properties.
The Dapper I Loans are secured in part by first priority mortgage liens on the Dapper I Properties, including, without limitation, the Dapper I Replaced Properties.
Discount and Dapper I entered into the Dapper I Sale-Leaseback Agreement pursuant to which Dapper I and Remainderman I acquired their respective interests in the Dapper I Properties, including, without limitation, the Dapper I Replaced Properties.
Upon Closing, Advance shall receive fee title to the Dapper I Replaced Properties, all free and clear of all liens, encumbrances, charges and security interests of any nature whatsoever, except the Permitted Exceptions.