Substitute Premises definition

Substitute Premises means one or more parcels of real estate substituted for the Premises in accordance with the requirements of Section 11, together with all rights, privileges and appurtenances associated therewith and all buildings, fixtures and other improvements, equipment, trade fixtures, appliances and other personal property located thereon (whether or not affixed to such real estate). For purposes of clarity, where two or more parcels of real estate comprise a Substitute Premises, such parcels or interests shall be aggregated and deemed to constitute the Substitute Premises for all purposes of this Agreement.

Substitute Premises means a parcel of land located by itself on a separate tax parcel with a completed building constructed thereon, with respect to which a certificate of occupancy has been issued and all other licenses and permits have been received, provided, however, that such land and building shall have a then-current appraised value at least equal to the current appraised value of the Premises (or in the case of damage or destruction the anticipated appraised value of the building) upon completion of the Building. Notwithstanding the immediately preceding sentence, the Substitute Premises shall not be required to be located in the same state as the Premises if Master Tenant pays to or for the benefit of Landlord all costs and expenses incurred by Landlord and Fee Mortgagee in connection with the acquisition and ownership of such property which would not have been incurred had the Substitute Premises been located in the same state as the Premises.

Substitute Premises means one or more parcels of real estate substituted for a Premises in accordance with the requirements of Section 13, together with all rights, privileges and appurtenances associated therewith and all buildings, fixtures and other improvements, equipment, trade fixtures, appliances and other personal property located thereon (whether or not affixed to such real estate). For purposes of clarity, where two or more parcels of real estate comprise a Substitute Premises, such parcels or interests shall be aggregated and deemed to constitute the Substitute Premises for all purposes of this Agreement.

Examples of Substitute Premises in a sentence

• This notice will be accompanied by a floor plan of the Substitute Premises.

• Upon substantial completion of the Substitute Premises, this Lease will apply to the Substitute Premises as if the Substitute Premises had been the space originally described in this Lease.

• Notwithstanding the immediately preceding sentence, the Substitute Premises shall not be required to be located in the same state as the Premises if Master Tenant pays to or for the benefit of Landlord all costs and expenses incurred by Landlord and Fee Mortgagee in connection with the acquisition and ownership of such property which would not have been incurred had the Substitute Premises been located in the same state as the Premises.

• Insofar as reasonably possible, the Substitute Premises shall be of comparable quality and shall have a comparable square foot area and a configuration substantially similar to the Premises.

• Tenant agrees to occupy the Substitute Premises as soon as Landlord's work is substantially completed.

More Definitions of Substitute Premises

Substitute Premises means the premises that are substituted under this Lease for the Withdrawn Premises pursuant to Paragraph 32.

Substitute Premises shall have the meaning ascribed to such term in Section 21.1.

Substitute Premises means one or more parcels of real property substituted for a Premises in accordance with the requirements of Section 13, together with all rights, privileges and appurtenances associated therewith, and all buildings, fixtures and other improvements, equipment, trade fixtures, appliances and other personal property located thereon (whether or not affixed to such real estate). For purposes of clarity, where two or more parcels of real property comprise a Substitute Premises, such parcels or interests shall be aggregated and deemed to constitute the Substitute Premises for all purposes of this Agreement.

Substitute Premises shall have the meaning set forth in the Loan Agreement.

Substitute Premises. Shall have the meaning ascribed thereto in Section 16.

Substitute Premises shall have the meaning set forth in Section 37.12 hereof.

Substitute Premises means one or more parcels of real property where Substitute Equipment is located thereon (whether or not affixed to such real property). For purposes of clarity, where two or more parcels of real property comprise a Substitute Premises, such parcels shall be aggregated and deemed to constitute the Substitute Premises for all purposes of this Agreement