Qualified Restaurant Clause Samples

Qualified Restaurant. Notwithstanding the provisions of Section 8.01, Landlord agrees that it will not unreasonably withhold, condition or delay its consent to the sublease of the Leased Premises, or the assignment of the Lease, to a restaurant entity which meets the following criteria (a “QUALIFIED RESTAURANT”): (i) The net worth of such Qualified Restaurant is, when taken together with the net worth of any affiliate of such Qualified Restaurant which is then willing to and actually executes a guaranty of such Qualified Restaurant’s obligations to Landlord, at least equal to the net worth of Guarantor as it then exists; (ii) The Qualified Restaurant is a high end, first class, white tablecloth restaurant; and (iii) The theme or concept of the Qualified Restaurant is not the same or substantially similar to that of any other restaurant then operating in the Shopping Center. Landlord shall be entitled to unreasonably withhold its consent to the sublease or assignment of the Leased Premises to a Qualified Restaurant provided it releases, in writing, Guarantor from Guarantor’s liability on the Guaranty.
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Related to Qualified Restaurant

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