Substitute Leases definition

Substitute Leases. As defined in Section 42.3. Taking: A taking or voluntary conveyance during the Term hereof of all or part of the Leased Property, or any interest therein, or right accruing thereto or use thereof, as the result of, or in settlement of, any Condemnation or other eminent domain proceeding affecting the Leased Property whether or not the same shall have actually been commenced.
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Substitute Leases. As defined in Section 42.3 below.
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Substitute Leases is defined as all leases, subleases, licenses, and other ----------------- agreements for the use and occupancy of any Substitute Property, any related guarantees and any use and occupancy arrangements created pursuant to Section 365(h) of the Bankruptcy Code or otherwise in connection with the commencement or continuation of any bankruptcy, reorganization, arrangement, insolvency, dissolution, receivership or similar Proceedings, or any assignment for the benefit of creditors, in respect of any tenant or other occupant of the Substitute Property, in effect as of the date of the proposed Substitution.
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Examples of Substitute Leases in a sentence

  • At the time of each such addition or substitution, all Lease Payments with respect to the related Substitute Leases and/or Additional Leases actually received by the Originator or the Seller which became due during the then current Due Period shall be transferred to the Collection Account and all security deposits with respect thereto shall be transferred to the Security Deposit Account.

  • In the event of an Early Lease Termination, any Substitute Leases in respect thereof must have a Discounted Present Value equal to or greater than that of the Early Termination Lease, monthly payments at least equal to those of the Early Termination Lease through the remaining term of such Early Termination Lease and a remaining term less than or equal to that of the Early Termination Lease.

  • If Lessor elects and complies with the option described in (b) above, regardless of whether Lessee enters into any of the Substitute Leases, Lessor shall have no further obligations to Lessee with respect to compensation for the early termination of this Lease.

  • It is the intention of the parties hereto that each transfer of Leases, Additional Leases, Substitute Leases and Equipment by the Originator to the Seller pursuant to Sections 1.01(a) and 1.02(a), and each transfer of Leases, Additional Leases and Substitute Leases by the Seller to the Issuer pursuant to Section 1.01(b), shall constitute an absolute assignment thereof by way of capital contribution and not a loan.

  • In the event Lessor subsequently elects and complies with the option described in (b) above, the Substitute Leases shall not take into account the amount of the Termination Payment accrued to the date the Substitute Leases are entered into and Lessor shall have no further responsibility or obligation with respect to the Termination Payment.

  • It is the intention of the parties hereto that each transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a capital contribution and not a loan.

  • If Lessor fails to timely make such election, Lessor shall be deemed to have terminated the Lease, in which case Lessor must provide Lessee with Substitute Leases for execution by Lessee, at Lessee’s election, as described in Article XXXIX of this Lease.

  • Any Early Termination Lease and the Equipment subject thereto which is acquired, or for which Additional Leases have been acquired or Substitute Leases transferred, pursuant to this Section 4.02 shall nevertheless remain subject to the Lien of the Indenture until such time as an Additional Lease or Additional Leases have been acquired or Substitute Lease or Substitute Leases have been transferred in accordance with the provisions of Section 9 hereof or the Lease Purchase Amount has been paid.

  • It is the intention of the parties hereto that the transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan.

  • The Transferor shall indicate in its records that ownership of each of the Leases, the Lease Receivables and the interests in the Equipment is held by the Issuer, and each shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment is held by the Issuer and pledged to the Trustee.


More Definitions of Substitute Leases

Substitute Leases means a demise charter of the Ship and a lease of the Goods by the Owner to HEL pursuant to clause 4.3 hereof;
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