Approved Sublease means the Aircraft Sublease made and entered into as of the 24th day of May, 2005 by and between World Travel and Las Vegas Jet, LLC (the "Aircraft Sublease"), or any other lease between World Travel, or any Affiliate of World Travel, substantially in the form of the Aircraft Sublease.
Approved Sublease means a sublease approved by the Landlord and, subject to any variations agreed by the Landlord in its absolute discretion: granted without any premium being received by the Tenant; reserving a market rent, taking into account the terms of the subletting; [for a term of not less than [Insert number] years calculated from the date of entry under the Sublease;] containing provisions: requiring the Subtenant to pay the whole or, in the case of a Sublease of a Permitted Part, a due proportion, of the Insurance Costs, Service Charge and other sums (excluding the Rent) payable by the Tenant under this Lease; for rent review at [five yearly] intervals and otherwise on the same terms as in Part 3 of the Schedule;131 and for change of use and alterations corresponding to those in this Lease; containing an obligation on the Subtenant not to assign the Subtenant’s right to the whole of the Sublet Premises without the prior written consent132 of the Landlord and the Tenant on terms corresponding to those in this Lease and an obligation not to assign the Subtenant’s right to part only of the Sublet Premises; [containing an obligation on the Subtenant not to enter into any Sub-underlease of the whole or any part of the Sublet Premises] OR [containing an obligation on the Subtenant not to enter into any Sub-underlease of the whole of the Sublet Premises without the prior written consent of the Landlord and the Tenant and an obligation on the Subtenant not to enter into any Sub-underlease of any part of the Sublet Premises] OR [containing an obligation on the Subtenant not to enter into any Sub-underlease of the whole or any part of the Sublet Premises without the prior written consent of the Landlord and the Tenant];133 [containing provisions requiring any Sub-underlease to contain: obligations by the Sub-undertenant not to assign the Sub-undertenant’s right to the whole of the Sub-underlet Premises without the prior written consent of the Landlord, the Tenant and the Subtenant and an obligation not to assign the Sub-undertenant’s right to part only of Sub-underlet Premises; and an absolute prohibition on entering into further subleases of whole or part [except where the Sub-underlease is of the whole of the Premises when the Sub-underlease may contain provisions permitting the creation of one further sublease of whole with the prior consent of the Landlord, the Tenant and the Subtenant but with the additional provision that no subleases of whole or part will be created ...
More Definitions of Approved Sublease
Approved Sublease shall have the meaning set forth in Section 10.5(e).
Approved Sublease means any lease or sublease of all or any portion of the Wacker Space which either (i) has been approved in writinx xx xhe Mezzanine Lender and the Senior Agent, or (ii) meets all of the following criteria:
(A) is co-terminus with the expiration date of the Wacker Lease (as that expiration date may xxxx been extended pursuant to Article 34 of the Wacker Lease at the time such lease or sublease is executed);
(B) satisfies all of the requirements of Article 20 of the Wacker Lease;
(C) is to a tenaxx xxat either (1) has a net worth (on a GAAP basis) of no less than five (5) times the annual gross rent payable under such sublease and an operating cash flow for the prior calendar year of no less than two (2) times the annual gross rent payable under such sublease, or provides an unconditional guaranty of all of the obligations of such tenant under such sublease from an entity which satisfies the conditions set out in the foregoing clause (1), or (2) provides a cash security deposit or an Acceptable Form Letter of Credit (as hereinafter defined) from an entity reasonably acceptable to Mezzanine Lender and Senior Agent in an amount equal to or greater than one full year of gross rent under such sublease. "Acceptable Form Letter of Credit" shall mean an irrevocable letter of credit which provides by its terms that either (x) such letter of credit shall be automatically renewed (no more frequently than annually) during the entire term of the Approved Sublease or (y) such letter of credit may be drawn upon if a replacement letter of credit is not provided at least 30 days in advance of its expiration date, and is in all other respects reasonably satisfactory to Mezzanine Lender and Senior Agent;
Approved Sublease means a sublease of all or part of the Premises or the Improvements made by Tenant to a subtenant, which sublease and all amendments thereto shall have been submitted to and approved in writing by Landlord, which approval shall not be unreasonably withheld or delayed provided (a) the sublease complies with all conditions of paragraph (e) of Section 14.01 hereof and (b) the rent is commercially reasonable and (c) no additional obligations are imposed on the Landlord and (d) there is no reduction of the Tenant's or subtenant's obligations.
Approved Sublease means any lease or sublease of all or any portion of the Wacker Space which either (i) has xxxx approved in writing by the Mezzanine Agent and the Senior Agent, or (ii) meets all of the following criteria:
(A) is co-terminus with the expiration date of the Wacker Lease (as txxx xxpiration date may have been extended pursuant to Article 34 of the Wacker Lease at the time such lxxxx xr sublease is executed);
(B) satisfies all of the requirements of Article 20 of the Wacker Lease;
(C) is to a tenant that either (1) has a net worth (on a GAAP basis) of no less than five (5) times the annual gross rent payable under such sublease and an operating cash flow for the prior calendar year of no less than two (2) times the annual gross rent payable under such sublease, or provides an unconditional guaranty of all of the obligations of such tenant under such sublease from an entity which satisfies the conditions set out in the foregoing clause (1), or (2) provides a cash security deposit or an Acceptable Form Letter of Credit from an entity reasonably acceptable to Mezzanine Agent and Senior Agent in an amount equal to or greater than one full year of gross rent under such sublease;
(D) provides for a minimum net rental amount of $24 per square foot and a tenant improvement allowance by the landlord of no more than $47.50 per square foot;
(E) demises no more than 50,000 square feet of the Wacker Space;
(F) proxxxxx (i) that the subtenant thereunder shall perform and discharge all of Citadel's obligations under the Wacker Lease (on a xxx xata basis based on the rentable square footage subject to such sublease), other than such obligations that can be performed solely by Citadel, as tenant under the Wacker Lease, including, without limitation, the payment of rent under the Wacker Lease, and (xx) xor other terms and conditions reasonably acceptable to Senior Borrower that are consistent with the terms and conditions of the Wacker Lease; provided, howevex, xxat no such sublease shall grant any sublessee (a) the right to assign the sublease or sublease any portion of the space subject to the sublease (the "Subleased Premises") without the consent, of the Senior Borrower, (b) the right to expand or contract the Subleased Premises, other than options for additional space which, if exercised, would not cause the Subleased Premises to exceed 50,000 square feet, (c) any expansion rights (other than as permitted in clause (b) above), contraction rights, rights of first offer, ri...
Approved Sublease. Those certain subleases for the Premises by and between Tenant and each Subtenant, the form of which is attached hereto as Exhibit D.
Approved Sublease a sublease by a Major Tenant of up to 15% of the Property on fair market terms for a term of not less than 3 years.
Approved Sublease means any sublease entered into by the Lessee with respect to any Property or portion thereof if either (i) such sublease satisfies the Non-Disturbance Criteria or (ii) the rent under the sublease, the tenant improvement allowances thereunder and the other material economic and non-economic terms of such sublease were approved in writing by the Lessor; it being understood that it shall be in the Lessor's sole discretion as to whether it shall approve the material terms of any sublease.