Acceptable Assignee definition

Acceptable Assignee means proposed assignee:

Acceptable Assignee shall have the meaning given to such term in Section 22.7(c) of the Facility Lease.

Acceptable Assignee means:- (a) An Entity which has (or whose obligations will be guaranteed by an Entity which has) continuously for a period of 12 months immediately preceding the date of the application to assign maintained and which on the date of the application for licence to assign this Lease still maintains:- (i) in respect of its senior unsecured unsubordinated and unguaranteed long term debt obligations a credit rating of A or better from Standard & Poor's Ratings Group, a division of XxXxxx-Xxxx Inc ("Standard & Poor's") or A2 from Xxxxx'x Investors Service ("Moody's"); or (ii) a long-term counterparty credit rating of A or better from Standard & Poor's; or (iii) credit ratings in respect of its senior unsecured unsubordinated and unguaranteed long term debt or in respect of its long term counterparty status from other major rating agencies acceptable to the Landlord acting reasonably equivalent to or better than any one of the credit ratings described in (i) and (ii) above; AND WHERE (iv) at the date of the application for licence to assign there is no other major rating agency whose equivalent rating in respect of the proposed assignee is lower than any of the credit ratings described in (i) or (ii) above provided that where any relevant agency rebases redesignates or otherwise changes the substance of or criteria for a relevant rating as referred to in (i) or (ii) above (or the number of grades or rankings above or below the relevant rating) or does any other act or thing so that the comparative creditworthiness strength or substance reflected in any of the ratings referred to in (i) or (ii) above is changed then there shall be deemed substituted for the ratings referred to in (i) or (ii) above such new or revised ratings as will then reflect and be equivalent to the relative creditworthiness strength and substance implied by the above ratings at the date hereof to the intent and effect that the substituted rating shall be equivalent mutatis mutandis to the current standards of creditworthiness strength and substance reflected in such current ratings; and (v) at the date of the application to assign the proposed assignee's credit rating has not been placed on Credit Watch nor has been accorded negative or developing rating outlook or equivalent (other than with a view to a possible up-grade) by either Standard & Poor's or Moody's unless prior to being placed on Credit Watch or being accorded such outlook the proposed assignee's credit rating in respect of its se...

Examples of Acceptable Assignee in a sentence

• In the event that Newco, or the Acceptable Assignee then holding the option under the Option Agreement, shall elect to exercise its right under the Option Agreement to purchase the Premises, Newco (i) as the exercising party, shall cause title to the Premises to be acquired by Newco or a subsidiary or affiliate of Newco only or (ii) shall cause the Acceptable Assignee exercising such option to cause the Premises to be so titled.

• Licensee shall also keep CSMC reasonably informed with respect to the progress of any relations entered into with any sublicenses or assignments entered into by Licensee with any Acceptable Assignee (or any other party for whom CSMC has given its prior written consent).

• If Lessee notifies Lessor of its election to exercise its right of first refusal within such 60-day period, then within 30 days of delivery of such notice to Lessor, Lessee and Lessor shall meet to negotiate the terms and conditions of the transfer documents; provided, that the terms and conditions thereof shall be no less favorable to Lessor than the terms and conditions of the proposed Transfer by Lessor to the Acceptable Assignee.

• No less than 120 days prior to a Transfer by Member of a Controlling Interest to an Acceptable Assignee (other than pursuant to Section 1.5 hereof), Member shall provide to Lessee, with a copy to Lessor, a written notice of the proposed Transfer, including the terms and conditions of the proposed Transfer and the name of the Acceptable Assignee.

• No less than 120 days prior to a Transfer by Parent of a Controlling Interest to an Acceptable Assignee (other than pursuant to Section 1.5 hereof), Parent shall provide to Lessee, with a copy to Member and Lessor, a written notice of the proposed Transfer, including the terms and conditions of the proposed Transfer and the name of the Acceptable Assignee.

More Definitions of Acceptable Assignee

Acceptable Assignee means a Person that the PSCW determines meets the following requirements: (a) that is a special-purpose entity, whose governing documents contain all covenants and restrictions related to non-consolidation with its corporate parent in the event of such parent’s bankruptcy or insolvency, (b) (i) whose senior unsecured long-term debt is rated at least A- or its equivalent by a Rating Agency, or (ii) whose Parent has senior unsecured long-term debt rated at least A- or its equivalent by a Rating Agency and who guarantees such Person’s obligations under any Lease Document to which such Person will be a party, and (c) who has at least five years experience in the United States electric generating power industry.

Acceptable Assignee means a Person (a)(i) whose senior unsecured long-term debt is rated at least “A-” by Standard and Poor’s Rating Services or its successor or “A3” by Xxxxx’x Investors Services or its successor or (ii) whose Parent’s senior unsecured long-term debt is rated at least “A-” by Standard and Poor’s Rating Services or its successor or “A3” by Xxxxx’x Investors Services or its successor and whose Parent guarantees such Person’s obligations under each Elm Road II Project Document to which such Person is or will be a party, (b) who has at least five years’ experience in the United States electric generating power industry and (c) who meets the requirements set forth in Annex A to Exhibit F. For purposes of applying this definition in respect of a potential assignee of WPPI, “unsecured long-term debt” shall mean “long-term debt which is not secured by a lien on any tangible assets”.

Acceptable Assignee means a Person that the PSCW determines meets the following requirements: (a) that is a special-purpose entity, whose governing documents contain all covenants and restrictions related to non-consolidation with its corporate parent in the event of such parent’s bankruptcy or insolvency, (b) whose sole assets immediately after an assignment under Section 23.7 of the Facility Lease will be the Leased Facility, the rights under the Facility Lease and related assets, and (c) whose Parent has senior unsecured long-term debt rated at least A- or its equivalent by a Rating Agency and who guarantees such Person’s obligations under any Lease Document to which such Person will be a party, (d) that is either a permitted assignee under the Ground Lease or is consented to by the State, and (e) who has at least five years experience in the United States electric generating power industry.

Acceptable Assignee means a reputable Person experienced in the oil industry;

Acceptable Assignee means, with respect to any proposed assignee, that such assignee and/or its Controlling Affiliates: (i) have experience and expertise substantially equivalent to Tenant and its Controlling Affiliates in owning, operating, marketing and leasing properties comparable to the Property Portfolio in character and tenant makeup or otherwise engaged a Qualified Manager; (ii) have a credit profile, financial worth and creditworthiness at least comparable to Tenant and its Controlling Affiliates on the date of the Lease; (iii) are reputable, with no conviction of felony or crime involving moral turpitude (including conviction of any officer, director, manager, etc.) and are not on any Government Lists; (iv) have no pending or history of any material litigation or dispute with Landlord or Fee Mortgagee or the beneficial holder of the Fee Mortgagee; and (v) are able, as of the date of any such proposed assignment, to truthfully certify as to the truth and fulfillment of all of the representations, warranties and covenants set forth in Section 15.1 of this Lease.

Acceptable Assignee means a person resident in England or company incorporated and registered in England whose average profits before tax for each of its three complete financial years immediately proceeding the date on which application for licence to assign is made is not less than the aggregate of the First Rent payable on such date multiplied by 3

Acceptable Assignee means any Person listed on Schedule 1.1.