Permitted Tenant Successor definition

Permitted Tenant Successor shall have the meaning given in Section 14.1 hereof.
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Permitted Tenant Successor. Any entity into which Tenant may be converted or with which it may merge, or to any entity purchasing all or substantially all of Tenant’s assets.
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Permitted Tenant Successor means any successor to Tenant by merger, consolidation, or other form of corporate reorganization, and any successor to Tenant by the purchase of all, or substantially all, of Tenant’s assets, “Affiliate” shall mean an entity controlled by, controlling, or under common control with Tenant. “Permitted Transferee” shall mean any Permitted Tenant Successor or Affiliate. The “Credit Requirement” shall be deemed satisfied if, as of the date immediately following the date of the Transfer, the Permitted Tenant Successor has a net worth at least equal to the net worth of Tenant immediately prior to such Transfer.
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Examples of Permitted Tenant Successor in a sentence

  • Except in the case of a statutory merger, in which case the surviving entity in the merger shall be liable under this Lease, Tenant shall continue to remain fully liable under this Lease, on a joint and several basis with the Tenant Affiliate or Permitted Tenant Successor.

  • Any Permitted Tenant Successor which satisfies the requirements of Article 16C and any Affiliated Entity which satisfies the requirements of Article 16D is sometimes hereinafter referred to as “Permitted Transferee”.

  • The signage rights under this Section 16.32 are personal to the original Tenant hereunder and may not be assigned (except in connection with an assignment to a Permitted Tenant Successor pursuant to Section 11.2 above), including in connection with any subleasing by Tenant.

  • Such notice (a "Termination Notice") shall be deemed an offer from Tenant to Landlord whereby Landlord may, at its option, (A) with respect to an assignment of this Lease or a sublease of all or substantially all of the Premises for the remainder of the Term only (but not with respect to any Sublease to a Permitted Tenant Successor), terminate this Lease, or (B) accept or reject the proposed Sublease.

  • Notwithstanding the foregoing, in the event of a statutory merger or other form of transaction where the original tenant no longer continues to exist after such transaction and the Permitted Tenant Successor is deemed, as a matter of law, to have assumed all of Tenant’s obligations under the Lease, Tenant may deliver to Landlord reasonable evidence that such transaction has occurred in lieu of delivering an Assumption Agreement to Landlord.

  • If, at any time following the Phase IV Expansion Premises Commencement Date, Tenant (together with any Tenant Affiliate and/or Permitted Tenant Successor pursuant to Section 12.2 of the Lease) does not satisfy the Leasing Threshold, Tenant’s rooftop rights set forth in this Section 20 shall no longer be exclusive to Tenant.

  • It shall be conditions to any assignment or sublease effected pursuant to this Section 12.2 that: (x) Tenant deliver to Landlord evidence, reasonably satisfactory to Landlord, that the subtenant or assignee, as the case may be, is a Permitted Tenant Successor or a Tenant Affiliate, as the case may be, and (y) such transaction is not entered into solely for the purposes of avoiding the restrictions set forth in this Article 12.

  • In the event of an assignment of this Lease or a sublease of the Premises or any portion thereof to anyone other than a Permitted Tenant Successor or an Affiliated Entity, Tenant shall pay to Landlord fifty (50%) percent of any Net Sublease Profits (as defined below), payable in accordance with the following.

  • Japan argued that the right to a fair hearing was satisfied by providing sufficient time for the respondent to consider the first written submission of the complainant.

  • The Extension Right is personal to Tenant and any assignee of this Lease (but not a subtenant) under a Permitted Transfer and, other than to any such assignee under a Permitted Tenant Successor resulting from a Permitted Transfer, and, other than to any such assignee under a Permitted Transfer , is not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in this Lease.


More Definitions of Permitted Tenant Successor

Permitted Tenant Successor means (A) any Permitted Transferee and/or (B) the Transferee of any Transfer requiring Landlord’s prior consent in accordance with Section 10 as to which such Landlord’s consent is obtained.
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Related to Permitted Tenant Successor

  • Permitted Successor is defined in Section 5.02 of the Sale Agreement.

  • Qualified Successor means a person who is entitled to ownership of an Option upon the death of an Optionee, pursuant to a will or the applicable laws of descent and distribution upon death;

  • Qualified Successor Entity means, with respect to a Business Combination Event, a corporation; provided, however, that a limited liability company, limited partnership or other similar entity will also constitute a Qualified Successor Entity with respect to such Business Combination Event if either (A) such Business Combination Event is an Exempted Fundamental Change; or (B) both of the following conditions are satisfied: (i) either (x) such limited liability company, limited partnership or other similar entity, as applicable, is treated as a corporation or is a direct or indirect, wholly owned subsidiary of, and disregarded as an entity separate from, a corporation, in each case for U.S. federal income tax purposes; or (y) the Company has received an opinion of a nationally recognized tax counsel to the effect that such Business Combination Event will not be treated as an exchange under Section 1001 of the Internal Revenue Code of 1986, as amended, for Holders or beneficial owners of the Notes; and (ii) such Business Combination Event constitutes a Common Stock Change Event whose Reference Property consists solely of any combination of cash in U.S. dollars and shares of common stock or other corporate common equity interests of an entity that is (x) treated as a corporation for U.S. federal income tax purposes; and (y) duly organized and existing under the laws of the United States of America, any State thereof or the District of Columbia.

  • Permitted Assignment means a Permitted Subsidiary Assignment or a Permitted Third-Party Assignment.

  • Permitted Transfer has the meaning set forth in Section 10.02.

  • Tenant Affiliate means and refer to any partnership, limited liability company, or corporation or other entity, which, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, Tenant.

  • Permitted Transferee Any Transferee of a Residual Certificate other than a Disqualified Organization or Non-United States Person.

  • Permitted Assignee means (a) with respect to a partnership, its partners or former partners in accordance with their partnership interests, (b) with respect to a corporation, its stockholders in accordance with their interest in the corporation, (c) with respect to a limited liability company, its members or former members in accordance with their interest in the limited liability company, (d) with respect to an individual party, any Family Member of such party, (e) an entity that is controlled by, controls, or is under common control with a transferor, or (f) a party to this Agreement.

  • Permitted Assign means, for a person that is an employee, executive officer, director or consultant of an issuer or of a related entity of the issuer,

  • Permitted Sublessee means the sublessee under a Permitted Sublease.

  • Permitted Sublease means a sublease permitted under Section 7.2.7 of the Lease.

  • Non-Permitted Transferee A Person other than a Permitted Transferee.

  • Permitted Transfers has the meaning set forth in Section 4.2.17(d).

  • Permitted Assigns means a Transferee of shares of Common Stock that agrees to become party to, and to be bound to the same extent as its Transferor by the terms of, this Agreement.

  • Successor Landlord shall have the meaning given such term in Section 20.2.

  • Qualified Tenant means , at any time, a tenant under a Lease of Property that meets the following criteria: (a) either such tenant is itself in occupancy of such Property or, if such Property is occupied by subtenants of such tenant, no member of the Consolidated Group has reason to believe that the failure of such subtenants to occupy such Property would reasonably be expected to result in such tenant defaulting its monetary obligations under the Lease of such Property to which it is a party as lessee, (b) such tenant is not subject to any proceedings under Debtor Relief Laws, (c) such tenant is not more than one month in arrears on its rent payments due under the Lease of such Property to which it is a party as lessee, and (d) if such tenant has one or more sub-tenants, neither the Borrower nor any of its Subsidiaries has actual knowledge, without inquiry or investigation, of any monetary defaults by such sub-tenant(s) under its sublease with such tenant that would reasonably be expected to result in such tenant defaulting its monetary obligations under the Lease of such Property to which it is a party as lessee.

  • Approved Transferee means (a) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more, (b) an affiliate of the Funding Lender, or (c) a trust or custodial arrangement established by the Funding Lender or one of its affiliates the beneficial interests in which will be owned only by QIBs.

  • Successor personal representative means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative.

  • Permitted Trust means a bona fide trust where each trustee is (i) a Qualified Stockholder, (ii) a Family Member, or (iii) a professional in the business of providing trustee services, including private professional fiduciaries, trust companies and bank trust departments.

  • Permitted Affiliate means with respect to any Person (a) any Person that directly or indirectly controls such Person, and (b) any Person which is controlled by or is under common control with such controlling Person. As used in this definition, the term “control” of a Person means the possession, directly or indirectly, of the power to vote eighty percent (80%) or more of any class of voting securities of such Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  • Permitted Designee means (i) a spouse or a child of a Permitted Holder, (ii) trusts for the benefit of a Permitted Holder or a spouse or child of a Permitted Holder, (iii) in the event of the death or incompetence of a Permitted Holder, his estate, heirs, executor, administrator, committee or other personal representative or (iv) any Person so long as a Permitted Holder owns at least 50% of the voting power of all classes of the voting stock of such Person.

  • Permitted Assignees shall have the meaning set forth in Section 3(e) hereto;

  • Business Successor means (i) any former Subsidiary of the Company and (ii) any Person that, after the Issue Date, has acquired, merged or consolidated with a Subsidiary of the Company (that results in such Subsidiary ceasing to be a Subsidiary of the Company), or acquired (in one transaction or a series of transactions) all or substantially all of the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or division of a Subsidiary of the Company.

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • Wholly Owned Domestic Subsidiary means, as to any Person, any Wholly-Owned Subsidiary of such Person which is a Domestic Subsidiary.

  • Protected tenant means any tenant who: