Facility Lease means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and substance reasonably satisfactory to the Administrative Agent.
Facility Lease means the Facility Lease Agreement, dated as of the Closing Date, between the Owner Lessor and the Company, substantially in the form of Exhibit C-1 to the Participation Agreement duly completed, executed and delivered on the Closing Date pursuant to which the Owner Lessor will lease the Facility to the Company.
Facility Lease as defined in each Participation Agreement.
Examples of Facility Lease in a sentence
Neither Seller, nor, to the Knowledge of Seller, the applicable landlord or sublandlord is in default under any Rehovot Facility Lease, nor has any event occurred that, with the giving of notice or passage of time, would become a default under any Rehovot Facility Lease.
More Definitions of Facility Lease
Facility Lease means the Facility Lease Agreement (BA1/2), dated as of the Closing Date, between the Owner Lessor and PPL Montana, substantially in the form of Exhibit B-1 to the Participation Agreement duly completed, executed and delivered on the Closing Date pursuant to which the Owner Lessor will lease the Undivided Interest to PPL Montana.
Facility Lease has the meaning given to such term in the Recitals.
Facility Lease means a lease of or other right to operate, occupy or use a Facility that any Company currently leases, operates, occupies or uses in connection with the conduct of the Business.
Facility Lease means a lease-revenue bond financing document in which the Board leases the site and the Board-financed local jail facility project to CDCR for the Local Jail Construction Financing Program and to BSCC for the Adult Local Criminal Justice Facilities Construction Financing theProgram. The term of the bonds and,are subject to availability for use and occupancy, ; for Phase I and Phase II the CDCR or BSCC agrees to pay rent and fulfill other related obligations., for the Adult Local Criminal Justice Facilities Construction Financing Program the BSCC agrees to pay rent and fulfill other related obligations.
Facility Lease means that certain Participation Agreement, dated as of December 17, 2002, entered into by and among Quantum, SELCO Service Corporation, as lessor and participant, Comerica Bank-California, Fleet National Bank and KeyBank National Association, as participants, and KeyBank National Association, as Agent, including any related leases, lease supplements, deeds of trust, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended (including any amendment and restatement thereof), modified, renewed, refunded, replaced, refinanced or restructured (including, without limitation, any amendment increasing the amount of available advances thereunder) from time to time and whether with the same or any other agent, lessor, participant or group of participants.
Facility Lease means each Facility Lease between Homer City, as Facility Lessee and each respective Owner Lessor, dated as of December __, 2001 entered into pursuant to each Participation Agreement listed in Schedule 1.
Facility Lease has the meaning set forth in Section 4.6(e).