Institutional Owner definition

Institutional Owner means an insurance company, bank, savings and loan association, REIT, Real Estate Mortgage Investment Conduit, grantor trust, trust company, commercial credit corporation, pension plan, pension fund or pension fund advisory firm, mutual fund or other investment company, governmental entity or plan, "qualified institutional buyer", within the meaning of Rule 144A under the Securities Act (U.S.) of 1993, as amended (other than a broker/dealer) or an institution substantially similar to any of the foregoing, or any entity wholly owned by any one or more such institutions, in each case, having not less than $500,000,000 in assets and $250,000,000 in equity, and having a long term unsecured debt rating of "A" by S&P or the equivalent by Moody’s.

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Institutional Owner or "Institutional Mortgagee" means an owner or mortgagee, as the case may be, which is (a) bank, trust company, savings and loan association, securities or investment banking company, insurance company, mortgage company, pension, profit, retirement or union fund or trust, real estate investment trust, governmental agency or fund, or other financial or lending entity generally regarded as an institutional lender, which in case has assets in excess of $100,000,000.00 or (b) an affiliate of any entity described in clause (a) (i.e.: an entity that is 50% or more directly or indirectly owned and controlled by an entity described in clause (a)), provided such affiliate has assets in excess of $100,000,000.00. This provision shall also apply to subsequent grantees and transferees.

Institutional Owner means pension funds, life insurance companies, real estate investment trusts and other institutional owners and operators of commercial real estate in Santa ▇▇▇▇▇ County, California, and “Institutional Asset Management Practices” means the asset management standards generally employed by Institutional Owners with respect to real estate assets held for purposes of investment (as opposed to owner-occupied assets).

Examples of Institutional Owner in a sentence

• All discounts, reimbursements, rebates, refunds, or credits (collectively, “Reimbursements”) attributable to Operating Expenses or Real Property Taxes received by Landlord in a particular year shall be deducted from Operating Expenses or Real Property Taxes, as applicable, in the year the same are received; provided, however, if such practice is consistent with Institutional Owner Practices, Landlord may treat Reimbursements generally (or under particular circumstances) on a different basis.

• All assessments and premiums of Operating Expenses or Property Taxes which can be paid by Landlord in periodic installments shall be paid by Landlord in the maximum number of periodic installments permitted by Law; provided, however, that if the then prevailing Institutional Owner Practice is to pay such assessments or premiums on a different basis, Landlord may utilize such different basis of payment.

• Any such succeeding individual shall thereafter be an Equinox Nominee.

• Notwithstanding the foregoing, normal quantities of those Hazardous Materials customarily used in the conduct of the Permitted Use may be used at the Tenant Space without Landlord’s prior written consent, but only in compliance with all applicable Environmental Laws (defined below) and only in a manner consistent with Institutional Owner Practices (defined in Section 8.3, below).

• All discounts, reimbursements, rebates, refunds, or credits (collectively, “Reimbursements”) attributable to Operating Expenses or Real Property Taxes that are received by Landlord in a particular year shall be deducted from Operating Expenses or Real Property Taxes, as applicable, in the year the same are received; provided, however, if such practice is consistent with Institutional Owner Practices, Landlord may treat Reimbursements generally (or under particular circumstances) on a different basis.

• For the avoidance of doubt, Landlord and Tenant acknowledge that the Electricity Consumption Threshold exists, so that Landlord is better able to (a) budget the amount of power available at the Building among the existing and future tenants of the Building, (b) enhance the safeguarding, in accordance with National Electrical Code Guidelines, of person and property in the Premises, and (c) operate the Premises consistent with Institutional Owner Practices.

• Landlord shall maintain insurance covering the Premises and Landlord’s ownership and operation thereof in such types and amounts as it deems necessary or desirable, consistent with Institutional Owner Practices, which insurance may include, without limitation, liability, property damage and/or loss of rental income coverage.

• For the avoidance of doubt, Grantor and Grantee acknowledge that the Electricity Consumption Threshold exists, so that Grantor is better able to (a) budget the amount of power available to the Demised Premises among the existing and future users and occupants of the Demised Premises, (b) enhance the safeguarding, in accordance with National Electrical Code Guidelines, of person and property in the Colocation Premises, and (c) operate the Colocation Premises consistent with Institutional Owner Practices.

• Landlord shall operate the Building, the Campus, and the Project in a manner consistent with Institutional Owner Practices.

• From time to time during the Term, Landlord shall have the right to modify the services provided to Tenant hereunder; provided such modified services are consistent with Institutional Owner Practices.

More Definitions of Institutional Owner

Institutional Owner means any bank, savings and loan association, trust company, insurance company, pension fund or similar institutional owner, which, in the ordinary course of its business, owns or operates first-class office buildings and, in connection with such ownership or operation, is self-insured with respect to fire and extended and commercial general liability insurance coverage and which has a "Standard & Poor's" or "Moody's" (or any successor rating service or substitute rating service (if either of the "Standard & Poor's" and "Moody's" services are not then available)) "claims paying ability rating" or "debt rating" of AA or Aa (or better) or a "Best's Insurance" (or any successor rating service or substitute rating service, if "Best's insurance" is not then available) rating of A (or better). If the rating scales of any of such rating services (or their successors or substitutes) are changed, then the required rating shall be that rating which is most nearly comparable to the current rating of "AA" (for Standard & Poor's), "Aa" (for Moody's) or "A" (for Best's Insurance).

Institutional Owner means any owner of a public or nonprofit school, church, hospital, lodge, club, fire department, library, memorial building or other public or nonprofit activity.

Institutional Owner means pension funds, life insurance companies, real estate investment trusts and other institutional owners and operators of commercial real estate in ▇▇▇▇▇▇▇ County, Colorado, and “Institutional Asset Management Practices” means the asset management standards generally employed by Institutional Owners with respect to real estate assets held for purposes of investment (as opposed to owner-occupied assets).

Institutional Owner is a bank or trust company, a savings bank, a savings and loan association, an insurance company, a college or university, a governmental pension or retirement fund or a pension trust of a publicly-held corporation.

Institutional Owner means a bank or trust company, a savings bank, a savings and loan association, an insurance company, a college or university, a governmental pension or retirement fund or a pension trust of a publicly-held corporation.