Material Leasehold Property definition

Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

Material Leasehold Property means a Leasehold Property reasonably determined by the Collateral Agent to be of material value as Collateral or of material importance to the operations of any Principal Company or any of its Subsidiaries; provided, however that, excepting any such Leasehold Properties set forth on Schedule 5.5(a) annexed hereto, no Leasehold Property with respect to which the aggregate amount of all rents payable during any one Fiscal Year never exceeds $250,000 shall be a “Material Leasehold Property”.

Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of any or all of Borrower and its Subsidiaries.

Examples of Material Leasehold Property in a sentence

• If Borrower or any of its Subsidiaries acquires any Material Leasehold Property, Borrower shall use its commercially reasonable efforts to, or shall use its commercially reasonable efforts to cause such Subsidiary to, cause such Material Leasehold Property to be a Conforming Leasehold Interest.

• If Holdings or any of its Subsidiaries acquires any Material Leasehold Property, Holdings shall use commercially reasonable efforts to, or shall cause such Subsidiary to use commercially reasonable efforts to, cause such Leasehold Property to be a Conforming Leasehold Interest and Holdings shall deliver evidence of the foregoing to Administrative Agent.

• Upon the request of Administrative Agent or the Requisite Lenders, Holdings shall use commercially reasonable efforts to, or shall cause such Subsidiary to use commercially reasonable efforts to, cause each Material Leasehold Property of Holdings or such Subsidiary to be a Conforming Leasehold Interest.

• No Loan Party is in breach or violation of any of the terms, conditions or provisions of any Material Contracts or any lease with respect to any Material Leasehold Property, except for such breaches and violations thereof as in the aggregate do not and could not reasonably be expected to have a Material Adverse Effect.

• Without limiting the generality of the foregoing, each Credit Party will, if requested by the Lenders, use commercially reasonable efforts to obtain a Landlord’s Waiver and Consent from each lessor of a Material Leasehold Property on which any of the Collateral is or is to be located to the extent requested by the Lenders.

More Definitions of Material Leasehold Property

Material Leasehold Property means a Leasehold Property or any mixed property asset reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

Material Leasehold Property means a Leasehold Property reasonably determined by Syndication Agent (on or prior to the Closing Date) or Administrative Agent (after the Closing Date) to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

Material Leasehold Property means a Leasehold Property reasonably determined by the Agent to be of material value as Collateral or of material importance to the operations of the Borrowers or their Subsidiaries.

Material Leasehold Property means each Leasehold Property specified in Schedule 1.1(a).

Material Leasehold Property means (a) the Leasehold Property of the Obligors set forth on Schedule 1.01(a) hereto on the Issue Date and (b) any Leasehold Property acquired by the Obligors after the Issue Date (i) having an annual fair market rental value in excess of $1.0 million or (ii) at which the Obligors maintain any books and records or Collateral with a fair market value in excess of $1.0 million in the aggregate.

Material Leasehold Property means a Leasehold Property that is reasonably determined by the Agent to be of material importance to the operations of the Loan Parties (taken as a whole).

Material Leasehold Property means any Leasehold Property set forth on Schedule 4.1I hereto and any Leasehold Property reasonably determined by Administrative Agent after the Closing Date to be of material value as Collateral or of material importance to the operations of Holdings or any of its Subsidiaries; provided, however, that, no Leasehold Property with respect to which the aggregate amount of all rents payable during any one Fiscal Year does not exceed $500,000 shall be a "Material Leasehold Property".