Ground Interest definition

Ground Interest shall have the meaning specified in the recitals to the Facility Site Lease.

Ground Interest means the Owner Lessor's 25% undivided leasehold interest in the Facility Site.

Ground Interest shall have the meaning set forth in Section 2.1 of the Site Lease.

Examples of Ground Interest in a sentence

• Site Lessor specifically acknowledges that, concurrently with the execution and delivery of this Site Lease, Site Lessee will, as security for the Secured Indebtedness of Site Lessee under the Notes, grant the Indenture Trustee a Lien in and to all of Site Lessee’s right, title and interest in, to and under the Ground Interest (other than Excepted Payments).

• Further,976.53 cum/day of storm water is being treated through pre-treatment system consisting of two chambers for settling and for removal of oil & grease.

• Upon the expiration of the Term or the earlier termination thereof, Site Lessee will peaceably and quietly yield up and surrender possession of the Ground Interest to Site Lessor free of liens, charges, encumbrances and claims resulting from acts of Site Lessee or claims against Site Lessee unrelated to its interest in the Undivided Interest other than Permitted Liens and liens, charges and encumbrances which the Site Lessor has assumed or is obligated to discharge under any of the Operative Documents.

• Notwithstanding any provision contained in this Site Lease or in any Operative Document, Site Lessee has the right to perform any and all acts required by an order of the FERC and other Governmental Entities affecting the Undivided Interest, the Ancillary Facilities or the Ground Interest without the prior approval of Site Lessor or any other party to the Operative Documents.

• Except as expressly permitted pursuant hereto or by the Participation Agreement or the Facility Lease, neither Site Sublessor nor Site Sublessee shall have the right to assign or otherwise transfer all or any part of such party’s interest in this Site Sublease or in the Ground Interest or to sublet the whole or any part of the Ground Interest and/or delegate any or all of its obligations under this Site Sublease.

More Definitions of Ground Interest

Ground Interest means, prior to the Post-FILOT Lease Conversion Date, the Owner Lessor's 25% undivided leasehold interest in the Facility Site, and upon and after the Post-FILOT Lease Conversion Date, the Owner Lessor's 25% undivided leasehold interest in the Facility Site.

Ground Interest means a 90% undivided interest in the Facility Site together with (i) all rights under Applicable Law as a tenant-in-common of the Facility Site with the Ground Lessor as owner/holder of the remaining 10% undivided interest (or any successor, assignee or lessee of Ground Lessor’s 10% undivided interest) in the Facility Site, as such rights of a tenant-in-common are modified by the Ground Lease (including Sections 12.19 and 12.20 thereof) and, following termination of the Ground Sublease, the Support Agreement, and (ii) the right to nonexclusive possession with the Ground Lessor as owner/holder of the remaining 10% undivided interest (or any successor, assignee or lessee of Ground Lessor’s 10% undivided interest) in the Facility Site.

Ground Interest means (i) a leasehold in the Facility Site, (ii) a nonexclusive easement in, to and over the Global Common Facilities Site and (iii) a nonexclusive easement in, to and over the Access Property, granted pursuant to, and for the purposes and subject to the limitations set forth in, Section 5 of the Ground Lease.

Ground Interest has the meaning given to such term in the Recitals.

Ground Interest means (a) the right as tenant-in-common with Virginia Power to nonexclusive possession of (i) the Unit 2 Site, subject to Virginia Power's 50% undivided interest therein and the terms and conditions of the Clover Agreements, (ii) the Unit 1 Site to the extent but only to the extent necessary to support, for the benefit of the Unit 2 Parties, the Common Facilities Equipment and Common Facilities Foundation located in and under the scrubber building situated on the Unit 1 Site, subject to (1) Virginia Power's 50% undivided interest therein, (2) the terms and conditions of the Clover Agreements, (3) the Unit 1 Parties' rights as to the Unit 1 Site under the Option Agreement, and (4) Old Dominion's subleasehold interest under the Clover Unit 1 Ground Lease and Sublease and (iii) the Common Facilities Site, subject to (1) Virginia Power's 50% undivided interest therein, (2) the terms and conditions of the Clover Agreements, and (3) the Unit 1 Parties' rights as to the Common Facilities Site under the Option Agreement, (b) all of Old Dominion's rights and obligations as tenant-in-common of the Unit 2 Site which are attributable to the Unit 2 Site by Virginia law as modified by the Clover Agreements, and (c) 50% of Old Dominion's rights and obligations as tenant-in-common of the Common Facilities Site which are attributable to the Common Facilities Site by Virginia law as modified by the Clover Agreements.

Ground Interest means all right, title and interest of the Owner Lessor in the Site and the Appurtenant Rights provided pursuant to the Site Lease.

Ground Interest means an undivided interest equal to the Facility Lessor's Percentage in the Rocky Mountain Site, including the right as tenant-in-common with Georgia Power and the Other Facility Lessors and sublessees of undivided interests in the Rocky Mountain Site under the Other Rocky Mountain Lease Transactions to nonexclusive possession of the Rocky Mountain Site, subject to the terms and conditions of the Rocky Mountain Agreements.