Studio Property definition
Studio Property means a Property the substantial use of which is production studios, stages, control rooms and/or other audio and video room space, office and other support space, storage facilities and other incidental uses related thereto.
Studio Property means a Property the substantial use of which is production studios, stages, control rooms and/or other audio and video room space, and office and other support space, storage facilities and other incidental spaces related thereto. Notwithstanding the foregoing, any Property or portion thereof (such portion, the “Netflix Portion”), demised pursuant to a lease (with an initial lease term of two or more years, not including any unexercised extension options) with Netflix, Inc. or any of its Affiliates, shall be deemed Office Property, it being understood that for purposes of determining NOI for the relevant Property, that if only a portion thereof is treated as Office Property pursuant to this definition above, then expenses attributable to the Netflix Portion shall be ratable based on the relationship that the square footage of the Netflix Portion bears to the square footage of the entire Property (including the Netflix Portion).
Studio Property means a Property the substantial use of which is production studios, stages, control rooms and/or other audio and video room space, and office and other support space, storage facilities and other incidental spaces related thereto. Notwithstanding the foregoing, (i) any Property or portion thereof (such portion, the “Netflix Portion”), demised pursuant to a lease (with an initial lease term of two or more years, not including any unexercised extension options) with Netflix, Inc. or any of its Affiliates, shall be deemed Office Property, it being understood that for purposes of determining NOI for the relevant Property, that if only a portion thereof is treated as Office Property pursuant to this definition above, then expenses attributable to the Netflix Portion shall be ratable based on the relationship that the square footage of the Netflix Portion bears to the square footage of the entire Property (including the Netflix Portion). and (ii) any Property or portion thereof (such portion, the “KTLA Portion”), demised pursuant to a lease (with an initial lease term of two or more years, not including any unexercised extension options) with KTLA, LLC, a Delaware limited liability company, or any of its Affiliates, shall be deemed Office Property, it being understood that for purposes of determining NOI for the relevant Property, that if only a portion thereof is treated as Office Property pursuant to this definition above, then expenses attributable to the KTLA Portion shall be ratable based on the relationship that the square footage of the KTLA Portion bears to the square footage of the entire Property (including the KTLA Portion). “Studio Service Subsidiary” means a Subsidiary operated primarily to provide rental and/or fee-based services to film, television or similar media productions. “Subsidiary” means, for any Person, any corporation, partnership, limited liability company or other entity of which at least a majority of the Equity Interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other individuals performing similar functions of such corporation, partnership, limited liability company or other entity (without regard to the occurrence of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person, and shall include all Persons the accounts of which are consolida...
Examples of Studio Property in a sentence
This agreement specifically excludes any Movie Studio Property Asset Management Programs and Fine Art.
Guest agrees that no more than 10 persons shall be permitted on the 4 bedroom Property at any time during the Rental Term, or 8 persons on the 3 bedroom Property, or three persons on the Studio Property, all of whom shall comply with the conditions and restrictions imposed upon Guest under this Agreement.
Studio Property cannot be borrowed for any length of time at the studio or otherwise without written permission.
Within sixty (60) days of the issue date of the Initial Notes, the Company shall deliver to the Trustee Mortgages for each of the Burbank Studio Property, Dallas Studio Property and Houston Studio Property (the “Issue Date Mortgaged Properties”).