Entitlement Condition definition

Entitlement Condition means the issuance of all of the following:
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Entitlement Condition shall have the meaning set forth in Section 12.1.1 hereof.
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Entitlement Condition. (i) Approval by the City Council of the City of Chicago amending Planned Development Ordinance 1426 allowing for development of the Casino Hotel Land in accordance with Schedule C, the satisfaction of such condition shall be conclusively evidenced by publication of the Planned Development Amendment and (ii) submission of the Part II Review Application for the Casino Hotel Land.
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Examples of Entitlement Condition in a sentence

  • Landlord shall notify Tenant of the Entitlement Conditions applicable to the Zoning Permits (including, without limitation, any Entitlement Base Building Plan Changes and any Layout Changes), within three (3) business days following the determination thereof (“Landlord's Entitlement Condition Notice”).

  • Notwithstanding the foregoing, if there are Entitlement Base Building Plan Changes, Landlord shall so notify Tenant as set forth in Section 4.1(D)(1) hereof, and if neither Landlord nor Tenant (if applicable) exercises its Entitlement Condition Termination, then the Base Building Work and/or the Layout, as applicable, shall be deemed to include such Entitlement Base Building Plan Changes.

  • For the avoidance of doubt, City Village Developer Consent shall not be required to be part of the Major Modification for the purpose of the Entitlement Condition, and will not be considered part of the Entitlements Condition in any respect or otherwise be a condition precedent to either Closing.

  • If Landlord exercises Landlord's Entitlement Condition Termination, it shall reimburse Tenant for one hundred percent (100%) of Tenant's Termination Expenses (as such term is hereinafter defined), but excluding any legal costs and expenses incurred by Tenant, within thirty (30) days after demand therefor, accompanied by reasonable supporting documentation (such as invoices).

  • The parties intend that if the necessary Permits and Approvals are granted and neither Landlord nor Tenant exercises any applicable Entitlement Condition Termination, then Landlord will build the New Building and Tenant will lease the Office Portion thereof pursuant to the terms hereof.

  • If the Layout is revised in the course of obtaining the Zoning Permits, and neither party exercises its Entitlement Condition Termination as set forth above (if applicable), then such revisions to the Layout shall be deemed approved by both Landlord and Tenant, and the “Layout” as used herein shall refer to the Layout as so revised.

  • Tenant covenants and agrees, at its sole cost and expense, to use diligent efforts to pursue and satisfy: (i) the Entitlement Condition; and (ii) the Gaming License Condition.

  • If either party exercises its Entitlement Condition Termination, this Lease shall terminate as of the date of the notice of such Entitlement Condition Termination as if such date were the date originally specified herein as the Expiration Date.

  • Notwithstanding the foregoing, Tenant represents and warrants that, as of September 11, 2024, it has satisfied the Entitlement Condition and the Gaming License Condition.


More Definitions of Entitlement Condition

Entitlement Condition means the occurrence of the following, but in all cases (A) solely with respect to the events and conditions discovered by Purchaser during the Contingency Period and identified in a writing delivered to ▇▇▇▇, and (B) to the extent required by, and subject to, the terms imposed by the County of Ventura or any applicable state or local governmental agency or regulatory authority within the State of California, (y) but expressly excluding: (1) the terms set forth in Measure O approved by Ventura County ballot referendum on November 3, 2020, inclusive of SOAR (Save our Agricultural Resources), and (2) and notices of violations (or similar type notices, orders or requests) that relate to the Real Property and are the responsibility of the CEFF Parties to correct or remediate, and (z) subject to Section 11, 11.1 and 11.2: (a) the approval, issuance or certification, as the case may be, by applicable governmental agencies and authorities of all entitlements, approvals, licenses and permits necessary for the operation of the entire Real Property (i.e. 5 million square feet of existing greenhouses and all existing packing facilities) for Cannabis Use, and the annual or other periodic renewal or re-issuance of such entitlements, approvals, licenses and permits as required under applicable law or regulations on or before the Section 8.4 Expiration Date; (b) subject to the other provisions of this Agreement (including Section 11.2), the approval, issuance or certification, as the case may be, by applicable governmental agencies and authorities of all discretionary entitlements, approvals and permits necessary for the construction and completion of improvements to the Real Property in accordance with those conceptual plans of Purchaser or Mercer Park attached hereto as Exhibit E, and the annual or other periodic renewal or re-issuance of such entitlements, approvals, licenses and permits as required under applicable law or regulations on or before the Section 8.4 Expiration Date; and (c) in the event of any timely made appeal or legal challenge being pursued (whether by administrative appeal, lawsuit or otherwise) with respect to the issuance, renewal or re-issuance of one or more of the above-described entitlements, approvals and permits set forth in this Section 2.23 (each, an "Entitlement Appeal"), upon the final resolution of any such challenge in favor of Purchaser (whether by final judgment, dismissal with prejudice, dismissal of any appeal, settlement or otherw...
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Entitlement Condition means the occurrence of the following:
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Related to Entitlement Condition

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below) and, (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage”: shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%.; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • Payment Conditions means, at the time of determination with respect to any specified transaction or payment, that:

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Review Conditions means (i) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger for that Payment Date and (ii) the Noteholders or Note Owners, as applicable, have voted, pursuant to Section 2.03(d) of the Receivables Purchase Agreement, to direct an Asset Representations Review of the Subject Receivables.

  • Condition Satisfaction Date shall have the meaning set forth in Section 7.2.