Similar Lease definition

Similar Lease means a lease that is entered into by the Company or a Restricted Subsidiary with another Person (other than the Issuers or a Restricted Subsidiary) for the purpose of, or with respect to operating or managing Gaming Facilities, Related Businesses, lodging, leisure and entertainment-related, amusement or experiential Real Property assets of the Company or its Restricted Subsidiaries.
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Similar Lease means a lease that (x) reflects commercially reasonable terms at the time entered into (as determined in good faith by the Company) and (y) is (i) entered into by any Borrower or a Restricted Subsidiary with MGP or its Subsidiaries or their respective Affiliates or with another Person to the extent such Person is (or intends to be) a REIT or (ii) permitted by Section 1.5 and Section 22.7 of the MGP Master Lease as in effect on the Closing Date.
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Similar Lease means a lease that is entered into by the Company or a Restricted Subsidiary with another Person (other than the Issuers or a Restricted Subsidiary) for the purpose of, or with respect to operating or managing, Related Businesses, or lodging or leisure Real Property assets of the Company or its Restricted Subsidiaries.
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Examples of Similar Lease in a sentence

  • To the extent required by Section 17.3 of the MGP Master Lease, Section 17.3 of the MGP XXXXX XX Master Lease and Section 17.3 of the Bellagio Lease (and any equivalent provision in any Similar Lease), the Administrative Agent shall provide a copy to the applicable landlord of any notices issued by the Lenders or the Administrative Agent to the Borrowers of an Event of Default hereunder.

  • To the extent required by Section 17.3 of the MGP Master Lease, Section 17.3 of the MGP XXXXX XX Master Lease and, Section 17.3 of the Bellagio Lease and Section 17.3 of the CityCenter Master Lease (and any equivalent provision in any Similar Lease), the Administrative Agent shall provide a copy to the applicable landlord of any notices issued by the Lenders or the Administrative Agent to the Borrowers of an Event of Default hereunder.


More Definitions of Similar Lease

Similar Lease means any triple net real estate lease arrangement or any lease entered into in connection therewith (including, without limitation, any ground lease or other similar lease) that (x) reflects commercially reasonable terms at the time entered into (as determined in good faith by the Company) or (y) is permitted by Section 1.5 and Section 22.7 of the MGM Master Leases, if applicable, as in effect on the Closing Date.
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Similar Lease means a lease that is entered into by VICI LP or any of its Subsidiaries with another Person (other than VICI LP or its Subsidiary) for the purpose of, or with respect to operating or managing Gaming Facilities, Related Businesses, lodging, leisure and entertainment-related, amusement or experiential Real Property assets of VICI LP or its Subsidiaries.
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Similar Lease means a lease that is entered into by the Issuer or any of its Subsidiaries with another Person (other than the Issuer or its Subsidiary) for the purpose of, or with respect to operating or managing Gaming Facilities, Related Businesses, lodging, leisure and entertainment-related, amusement or experiential Real Property assets of the Issuer or its Subsidiaries.
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Similar Lease means a lease that (x) reflects commercially reasonable terms at the time entered into (as determined in good faith by the Borrower) and (y) is entered into by the Borrower or a Restricted Subsidiary with CEOC or its Subsidiaries or with another Person (other than a Loan Party) for the purpose of, or with respect to operating
Sample 1
Similar Lease means any triple net real estate lease arrangement or any lease entered into in connection therewith (including, without limitation, any ground lease or other similar lease) that (x) reflects commercially reasonable terms at the time entered into (as determined in good faith by the Company) or(y) is permitted by Section 1.5 and Section 22.7 of the MGM Master Leases, if applicable, as in effect on the Closing Date.
Sample 1
Similar Lease means a lease that is entered into by the Company or a Restricted Subsidiary with another Person (other than the Issuers or a Restricted Subsidiary) for the purpose of, or with respect to operating or managing, Related Businesses, lodging or leisure Real Property assets of the Company or its Restricted Subsidiaries. “Spin-Off” means the spin-off of Park Hotels & Resorts Inc. from Hilton as a separately- traded XXXX traded on the New York Stock Exchange. “Spin-Off Documents” means the Distribution Agreement, the Ancillary Agreements and the Tax Matters Agreement related to the Spin-Off. “Stated Maturity” means: (1) with respect to any debt security, the date specified in such debt security as the fixed date on which the final installment of principal of such debt security is due and payable; and (2) with respect to any scheduled installment of principal of or interest on any debt security, the date specified in such debt security as the fixed date on which such installment is due and payable. “Subordinated Indebtedness” of the Company means any Indebtedness of the Company that is expressly subordinated to and junior in right of payment to the Notes. “Subordinated Indebtedness” of a Subsidiary Guarantor means any Indebtedness of such Subsidiary Guarantor that is expressly subordinated to and junior in right of payment to the Note Guarantee of such Subsidiary Guarantor. “Subsidiary” means, with respect to any Person, any corporation, association or other business entity of which more than 50.0% of the voting power of the outstanding Voting Stock is owned, directly or indirectly, by such Person and/or one or more other Subsidiaries of such Person and the accounts of which would be consolidated with those of such Person in its consolidated financial statements in accordance with GAAP, if such statements were prepared as of such date; provided, however, that for the purposes of this Indenture, Xxxx Xxxxxx Red Lion Hotel (owning the Hilton Santa Xxxxxxx Beachfront Resort), Santa Xxxxxxx Hotel Lessee LLC (operating the Hilton Santa Xxxxxxx Beachfront Resort) and Doubletree Spokane City Center LLC (the sole member of the owner of the DoubleTree Hotel Spokane City Center) shall each be considered a “Subsidiary” of the Company; provided, further, that upon any change in voting power such that the foregoing entities would no longer be consolidated with the Company after
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Related to Similar Lease

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Lease means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Eligible Lease means, as of any date of determination, a Lease for a Property that satisfies all of the following:

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Company Leased Real Property shall have the meaning set forth in Section 3.15(b).