Affiliate Tenant definition
Examples of Affiliate Tenant in a sentence
Notwithstanding any Transfer, including an assignment or sublease to an Affiliate, Tenant shall remain as fully and primarily liable for the payment of Rent and for the performance of all other obligations of Tenant contained in this Lease to the same extent as if the Transfer had not occurred; provided, however, that any act or omission of any transferee, other than Landlord, that violates the terms of this Lease shall be deemed a violation of this Lease by Tenant.
Each Affiliate Tenant is a corporation and has been duly organized and is validly existing and in good standing pursuant to the laws of the State of Delaware, with requisite power and authority to own its properties and to transact the businesses in which it is now engaged.
Fail to be a Single-Purpose Entity or take or suffer any action or inaction the result of which would be to cause it or Mortgage Borrower, Borrower Parent, Borrower Subsidiary, or Affiliate Tenant to cease to be a Single-Purpose Entity.
Mezzanine Borrower shall not itself, and shall not permit Mortgage Borrower, Affiliate Tenant, Borrower Subsidiary, or Borrower Parents, to, change its name, identity, corporate structure or jurisdiction of organization unless it shall have given Mezzanine Lender thirty (30) days prior written notice of any such change and shall have taken all steps reasonably requested by Mezzanine Lender to grant, perfect, protect and/or preserve the security interest granted hereunder to Mezzanine Lender.
To the Best of Mezzanine Borrower's Knowledge, none of Mezzanine Borrower, Affiliate Tenant, Mortgage Borrower, Borrower Subsidiary, or Borrower Parents is in default or in violation of any order, writ, injunction, decree or demand of any Governmental Authority.
Subject to Mortgage Borrower's right of contest pursuant to Section 7.3, of the Loan Agreement (Mortgage), Mezzanine Borrower shall comply and cause the Mortgage Borrower, Borrower Subsidiary, and the Property to be in compliance with all Legal Requirements applicable to the Mezzanine Borrower, Mortgage Borrower, Borrower Parent, Borrower Subsidiary, Affiliate Tenant, Manager and the Property and the uses permitted upon the Property.
None of Mezzanine Borrower, Mortgage Borrower, Borrower Subsidiary, Affiliate Tenant, or Borrower Parents has any material contingent liabilities, liabilities for delinquent taxes, unusual forward or long-term commitments or unrealized or anticipated losses from any unfavorable commitments that are known to Mezzanine Borrower and could reasonably be expected to have a Material Adverse Effect, except as referred to or reflected in said financial statements and operating statements.
None of Mezzanine Borrower, Borrower Subsidiary, or Affiliate Tenant is in default in any respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which Mezzanine Borrower, Mortgage Borrower, Borrower Subsidiary, or Affiliate Tenant, or the Property is bound, which default is reasonably likely to have a Material Adverse Effect.
None of Mezzanine Borrower, Mortgage Borrower, Borrower Subsidiary, or Affiliate Tenant is a party to any agreement or instrument or subject to any restriction which is reasonably likely to have a Material Adverse Effect.
Mezzanine Borrower, Mortgage Borrower, Affiliate Tenant, Borrower Parents, and Borrower Subsidiary have complied with all of the assumptions made with respect to it in the Non-Consolidation Opinion.