Significant Lease definition

Significant Lease means, as to any particular Property, each Lease which constitutes 20% or more of all base rent revenue of such Property.

Significant Lease means, as to any particular Real Property, each Lease which constitutes 30% or more of all base rent revenue of such Real Property.

Significant Lease means any Lease under which the Borrower or one of its Subsidiaries is the lessor and which Lease provides for minimum rent payments of $1,000,000 or more during any calendar year.

Examples of Significant Lease in a sentence

• Schedule 6.26 hereto identifies each Significant Lease in existence on the date hereof, the Property which is demised pursuant to each Significant Lease and the name of each landlord and lessee under each Significant Lease.

• Notwithstanding anything to the contrary contained in the foregoing, the Facility Lessee shall not have any right to take any action otherwise permitted pursuant to this Section 5.20 if a Significant Lease Default or Lease Event of Default shall have occurred and be continuing.

• Schedule 6.25 hereto identifies each Significant Lease in existence on the date hereof, the Property which is demised pursuant to each Significant Lease and the name of each landlord and lessee under each Significant Lease.

• The Borrower and each Subsidiary shall at all times maintain accurate and complete records of each Significant Lease.

• The Indenture Trustee shall not be required to take notice or be deemed to have notice or knowledge of any default, Lease Event of Default, Significant Lease Default or Lease Indenture Event of Default (except for a Lease Indenture Event of Default resulting from an event of nonpayment) unless a Responsible Officer of the Indenture Trustee shall have received written notice thereof.

More Definitions of Significant Lease

Significant Lease means (a) any lease of real or personal property, or any sublease of real property, by a Party, as lessee, pursuant to which such Party reasonably anticipates the payment of aggregate rent, Taxes, insurance, utilities (if applicable) and other charges in excess of $100,000 over the remaining term of the lease, exclusive of all optional renewal periods and optional extensions of the term (provided, however, that any such lease shall not be deemed a Significant Lease in the event that such Party has the contractual right to terminate the lease in question on 30 days' notice or less, without incurring a penalty or premium in excess of $100,000); or (b) any lease of real or personal property, or any sublease of real property, by such Party, as lessor, pursuant to which such Party reasonably anticipates the collection of aggregate rent in excess of $100,000 over the remaining term of the lease, exclusive of all optional renewal periods and extensions of the term (provided, however, that any such lease shall not be deemed a Significant Lease in the event that such Party has the contractual right to terminate the lease in question on 30 days' notice or less, without incurring a penalty or premium in excess of $100,000).

Significant Lease means any office Lease in excess of 50,000 net rentable square feet that is not a Major Lease.

Significant Lease means, as to any particular Eligible Property, each Lease which constitutes 25% or more of all base rent revenue of such Eligible Property and is greater than $250,000 in annual base rent.

Significant Lease means any office Lease which, together with any office Leases to one or more Affiliates of the proposed tenant thereunder, would demise in excess of 50,000 net rentable square feet, in each case, inclusive of any Expansion Space; provided, however, in the event that Lender shall disapprove any office Lease which would not be a Significant Lease but for the inclusion of Expansion Space, then if such proposed Lease is modified to remove the option applicable to such Expansion Space such that the Lease is no longer a Significant Lease, then such Lease shall cease to be deemed a Significant Lease (for the avoidance of doubt and notwithstanding the forgoing, such office Lease shall otherwise be required to comply with the terms and conditions of Section 9.4).

Significant Lease means, in respect of a Managed Property, a Lease for premises having a total gross leaseable area in excess of 30,000 square feet;

Significant Lease any lease at a Mortgaged Property if the lease affects an area in excess of the lesser of (i) 30% of the net rentable area of the Mortgaged Property and (ii) 30,000 square feet of the Mortgaged Property.

Significant Lease means any of the following: (a) the Wal-Mart Lease, (b) the Sam’s Club Lease, (c) Home Depot Lease, or (d) any Significant Tenant Replacement Lease.