School Lease definition

School Lease means a lease for the Charter School premises between the Sponsor and the Crown.
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School Lease means that certain School Site Nursery Lease dated June 26, 1992 and executed by Landlord and Tenant with respect to the School Property.
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Examples of School Lease in a sentence

  • The School acknowledges that it may not enter into a Public School Lease Purchase Agreementxxxvii without prior approval of the NMPED.

  • The School acknowledges that it may not enter into a Public School Lease Purchase Agreementxxxix without prior approval of the NMPED.

  • The School acknowledges that it may not enter into a Public School Lease Purchase Agreement37 without prior approval of the NMPED.

  • If the Sponsor is a party to a School Lease and the School Lease is terminated in accordance with its terms or otherwise for any reason whatsoever, the Authorisation Board may direct the Agency to (and the Agency may) terminate this Agreement with effect from the effective date of termination of the School Lease, by written notice to the Sponsor.

  • For clarity, this does not override any obligation the Ministry or any Relevant Person may have to the Sponsor under a School Lease.

  • Lessee is a local school board as defined in Section 22-26A-3(B) (2) NMSA 1978, authorized to enter into a "lease purchase arrangement" in accordance with the Public-School Lease Purchase Act, Chapter 22, Article 26A NMSA 1978 (the "Public School Lease Purchase Act" or “Act”).

  • In addition, the Trust agrees to provide letters of credit or other support necessary to permit NSI to obtain Bonds for the benefit of prospective vendors to NSI as required for the ownership, operation and maintenance of the Rock School Lease (the “NSI Vendor Bonds”).

  • In consideration of the agreements, promises, and covenants made each to the other in this Agreement, and other good and valuable consideration received, which consideration Foundation acknowledges to be adequate, Foundation grants to Charter School the option to purchase the School Facility upon the terms and conditions set forth in this Agreement, and to the extent permitted by the Public School Lease Purchase Act.

  • Prior to closing on the purchase of the School Facility, Charter School shall not mortgage, sell, assign, transfer, lease, or convey the School Facility or any portion thereof without the written consent of Foundation, which consent shall not be unreasonably withheld or delayed, and subject to the applicable provisions of the Public School Lease Purchase Act.

  • Upon approval of this Agreement by the Department and execution of this Agreement by the parties pursuant to the Public School Lease Purchase Act, the Property shall be considered to be a public property pursuant to Section 22-26A-5.l(B) NMSA 1978.

Related to School 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).

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

  • 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:

  • 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.

  • Wet Lease means any arrangement whereby Lessee or a Permitted Sublessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Lessee or a Permitted Sublessee, provided that Lessee's obligations under this Lease shall continue in full force and effect notwithstanding any such arrangement.