master lease

master lease

A lease between the owner of property and its direct tenant, with all other leases subject to the first one.A tenant may sublease or assign part or all of its space on its own terms and conditions, but the parties will always be bound by the master lease because they are subordinate to it.

References in periodicals archive ?
M2 EQUITYBITES-October 23, 2017-Tower One Signs LOI to Acquire Mexican Tower Builder with AT/T Master Lease Agreement
Tenders are invited for Master Lease Financing Program
The only difference is that the subtenant's landlord (usually referred to as a "sublandlord") is itself a tenant under a "master lease"--or a direct lease with the owner of the building -- and you, the subtenant, generally have to assume all the obligations of your sublandlord under the master lease.
This business is a master lease holder of 2 prime office locations within 30 minutes of one another.
Constructed in 2012 and serving the greater Denver area, the property is leased to an affiliate of Senior Lifestyle (SLC) under an existing 15-year master lease.
Ownership is considering all options, including master lease and direct lease.
3 October 2012 - US Energy 1 Corp (OTCBB:EGOC), a provider of fuel efficiency and emission reduction solutions for retrofit on diesel and gasoline powered equipment, said that it had closed its acquisition of a 100% interest in domestic truck and trailer leasing specialist Master Lease in an all-cash deal, whose value was not disclosed.
Missouri S&T's agreement with Collegiate Station is known as a master lease, an arrangement in which a university leases a bulk number of beds at a property for a set period of time (often 12 months, but sometimes for several years).
The Purpose Of This Rfp Is To Obtain Proposals From Highly Qualified Financial Firms (Firm) With Extensive Capital Lease Financing Experience To Provide A Master Lease Financing Program To Support Capital Needs, That Is Flexible And Provides Tax-exempt And/or Taxable Financing Services Covering The Needs Of The Entire University On An as Needed ad Hoc Basis, For A Period Of Three (3) Years, With The Renewal Option For Two (2) Additional Two (2) Year Terms.
Lastly, remember that in the large majority of cases, a sublease requires the consent of the "master landlord" -- so your landlord, who is a tenant under a master lease, is obligated by the terms of the master lease to get the master landlord's consent, and that consent is an importnant pre-condition to the effectiveness of the sublease.