Sonic Lease definition

Sonic Lease has the meaning set forth in the Sonic Agreement.
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Examples of Sonic Lease in a sentence

  • The Property shall be conveyed to Guarantor or the Designated Grantee in its "as is" condition as of the Substitution Date, subject to all restrictions, covenants, declarations, and easements of record as of such date and subject to the tenancy of the applicable entity under the applicable Sonic Lease.

  • Guarantor agrees that, with respect to each Sonic Lease, it will at Closing execute a guaranty in the form attached hereto as Exhibit 2(b) (each, a "SONIC GUARANTY").

  • At Closing (I) each Lease with respect to a Property (other than the Continuing Leases) will (A) be a Sonic Lease within the meaning of the Sonic Agreement, and (B) be guaranteed by SAI, and (II) each Continuing Lease will be guaranteed by the Person, if any, guaranteeing such Lease as of the Effective Date.