Direct Owner definition
Direct Owner means each Subsidiary of the Borrower that directly owns, or is the ground lessee of, an interest in any Property.
Direct Owner means, with respect to any Person, any other Person who has any direct ownership interest in such Person.
Direct Owner has the meaning specified in the definition of “Unencumbered Eligible Property”.
Examples of Direct Owner in a sentence
Schedule 5.08 sets forth a list of the Properties included as Borrowing Base Properties on the Closing Date and the Direct Owners thereof and each Indirect Owner of each such Direct Owner.
More Definitions of Direct Owner
Direct Owner means each Subsidiary of the Borrower that directly owns any Eligible Loan Asset.
Direct Owner means, (i) as to any Unencumbered Property that is owned by or ground leased to a Subsidiary of the Borrower, the Subsidiary of the Borrower that directly owns or ground leases such Unencumbered Property and (ii) as to any Unencumbered First Mortgage Receivable held by a Subsidiary of the Borrower, the Subsidiary of the Borrower that directly holds such Unencumbered First Mortgage Loan Receivable.
Direct Owner has the meaning set forth in the definition of Unencumbered Asset.
Direct Owner means an individual, legal entity or partnership that holds an ownership interest in a business proposed to be licensed directly rather than holding that interest through ownership of or affiliation with another legal entity or partnership.
Direct Owner has the meaning specified in the definition of “Eligible Property.”
Direct Owner means, as to any Unencumbered Property that is owned by or ground leased to a Subsidiary of the Borrower, the Subsidiary of the Borrower that directly owns or ground leases such Unencumbered Property.
Direct Owner means each Subsidiary of the Operating Partnership that directly owns any Borrowing Base Asset.