Underlying Leases definition
Examples of Underlying Leases in a sentence
Farmor's rights are limited to funds payable out of Net Proceeds from the Underlying Leases subject to this Agreement and Farmor shall have no recourse against Farmee for any amounts other than those payable out of Net Proceeds.
CAII is a party to certain purchase agreements ("Purchase Agreements") and assignments of leases ("Assignments of Leases"), pursuant to which CAII has sold and assigned the equipment ("Equipment") and the leases with respect thereto ("Existing Underlying Leases") described on the SCHEDULE A attached hereto.
In addition, Deemed Defaulted Underlying Leases shall be deemed to be Defaulted Contracts.
The amounts payable under this Agreement may be prepaid at any time and from time to time and shall be prepaid if the Residual Proceeds are received earlier than expected (e.g., upon a casualty or an early termination of the Underlying Leases).
Seller has delivered to Purchaser a true, ----------------- correct and complete copy of the Ground Lease and the Arizona State University Ground Lease between The Arizona Board of Regents acting for and on behalf of Arizona State University, as landlord, and Lessor, as tenant (the "ABR Lease", dated October 8, 1984, and all amendments thereto (the "Underlying Leases").
This Lease is subject and subordinate to: (a) the lien of any mortgages, deeds of trust, or other encumbrances ("Encumbrances") of the Real Property; (b) all present and future ground or underlying leases ("Underlying Leases") of the Real Property now or hereafter in force against the Real Property; (c) all renewals, extensions, modifications, consolidations, and replacements of the items described in Sections (a)-(b); and (d) all advances made or hereafter to be made on the security of the Encumbrances.
To confirm this subordination, however, Tenant shall, within five (5) days after Landlord's request, execute any further instruments or assurances in recordable form that Landlord reasonably considers necessary to evidence or confirm the subordination or superiority of this Lease to any such Encumbrances or Underlying Leases.
If Tenant has received the nondisturbance agreement referred to in Section 20.1, Tenant shall, within ten (10) Business Days after Landlord's request, execute any further instruments or assurances in recordable form that Landlord reasonably considers necessary to evidence or confirm the subordination or superiority of this Lease to any such Encumbrances or Underlying Leases.
Except as set forth on Schedule 2.12.2, no consents or approvals are required to be obtained under the Real Property Leases and/or the Underlying Leases in connection with the Contemplated Transactions, including from the landlord(s) thereunder.
So long as Tenant pays all of the Rent and observes and performs all of Tenant’s other obligations hereunder, Tenant shall peaceably and quietly have, hold and enjoy the Premises without hindrance, ejection or molestation by Landlord or any person lawfully claiming through or under Landlord, subject, nevertheless, to the provisions of this Lease and to all Mortgages and Underlying Leases.