Qualified Real Estate Investor means any of the following:
Qualified Real Estate Investor means any Person domiciled within the United States of America that has, together with its Affiliates, a minimum net worth (treating any subordinated or mezzanine financing as equity) at least equal to the lesser of (i) $10,000,000 or (ii) 20% of the appraised value of the Leased Land, as of the date of its (or their) last audited financial statements or as otherwise certified by an independent certified public accountant or firm thereof, provided the managers of such Person or its Affiliates have sufficient commercial real estate experience with respect to developments similar to the Project or have hired a manager or separate management company that has such experience and will manage, or oversee the management of, the Project. For purposes of the above the term “last audited financial statements” shall be deemed to include unaudited financial statements compiled by an independent certified public accountant or firm thereof accompanied by an accountant’s letter or unaudited financial statements certified by a member of the management of the proposed assignee of this Lease.
Qualified Real Estate Investor means a Person (i) with a net worth of at least $100,000,000, (ii) with not less than five (5) years’ experience in commercial real estate investments, (iii) that satisfies the provisions of Section 4.1.35 hereof, (iv) with respect to which Borrower delivers to Lender, at Borrower’s sole cost and expense, searches pertaining to litigations, judgments, liens and bankruptcy history and “know your customer” searches pertaining to criminal history, OFAC and Patriot Act requirements, reasonably acceptable to Lender, and (v) who satisfies other non-discretionary, administrative requirements of Lender.
Examples of Qualified Real Estate Investor in a sentence
Section 1.1 of the Original Loan Agreement is hereby amended by deleting the definitions of Mezzanine Pledgor, Milestone Construction Hurdle, Milestone Deadline, Qualified Real Estate Investor, Quarterly Sales Hurdle, Quarterly Sales Hurdle Shortfall Payment, Sales Hurdle Period, Sales Hurdle Surplus Amount and Sales Hurdle Threshold Amount.
Lender agrees to exercise good faith in reviewing all documentation it deems necessary to determine whether the proposed Transferee is or is controlled by or under common control with a Qualified Real Estate Investor.
The proposed transferee shall be a Qualified Real Estate Investor.
Lender agrees to be reasonable in the review of such qualifications to determine whether a Person is a Qualified Real Estate Investor.
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More Definitions of Qualified Real Estate Investor
Qualified Real Estate Investor means, with respect to any proposed transferee or its principal or Affiliate, as applicable, any reputable entity (as determined by Administrative Agent in the exercise of its reasonable discretion) which is domiciled in the U.S. and which is reasonably determined by Administrative Agent to have satisfied all of the following conditions: said entity or entities, as applicable (1) shall be an Institutional Real Estate Investor or another Person approved in writing by Administrative Agent, which approval shall not be unreasonably withheld, conditioned or delayed, with an allocation to United States commercial real estate and prior experience investing in commercial real estate in the United States; (2) have (a) total assets, excluding the Mortgaged Property, with a current market value of not less than $200,000,000, (b) have a net worth, excluding the Mortgaged Property of not less than $100,000,000, and (c) liquid assets of not less than $35,000,000; and (3) is not and has not been (w) in default beyond any required notice and the expiration of any applicable cure period on any indebtedness or loan from Lender or any affiliate of Lender, (w) involved as a debtor or as the principal of a debtor in any bankruptcy, reorganization or insolvency proceeding, (x) the subject of any criminal charges or proceedings, (y) involved in litigation which is reasonably deemed to (i) cause Administrative Agent or Lender reputational risk in the commercial real estate market, (ii) prevent or materially impair Borrower’s ability to achieve the Milestone Construction Hurdles prior to the Milestone Deadlines, or (iii) if adversely determined would cause said entity to be unable to satisfy the financial thresholds set forth in clause (2) herein, or (z) listed on, included within or associated with any of the persons or entities referred to in Executive Order 13324 – Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism, as amended by the United States Department of the Treasury, Office of Foreign Assets Control through the date the determination of Qualified Real Estate Investor is made.
Qualified Real Estate Investor is defined as any reputable corporation, partnership, limited liability company, real estate investment trust, listed property trust, bank, saving and loan association, trust company, commercial credit corporation, public or private pension fund or endowment, joint venture, joint-stock company, trust or other legal entity or individual (i) based in the United States, (ii) free from any bankruptcy, reorganization or insolvency proceedings or any criminal charges or proceedings, and (iii) that shall not have been, at the time of transfer or within the ten (10) year period prior thereto, a litigant, plaintiff or defendant in any suit brought against or by Lender (other than uncontested foreclosures). Further, a Qualified Real Estate Investor (alone or together with entities controlled or under common control with it) shall: (a) have a minimum net worth of Forty Million Dollars ($40,000,000), and (b) own and/or manage at least five million (5,000,000) square feet of industrial space or retain a property manager reasonably acceptable to Lender.
Qualified Real Estate Investor means, with respect to any Proposed Transferee or its principal or Affiliate, as applicable, any reputable entity which is domiciled in the U.S. with principals who are U.S. citizens and which is reasonably determined by Lender to have satisfied all of the following conditions: said entity or entities, as applicable (1) have the qualifications and experience at least equal to that of Borrower and its Sponsor on the Closing Date; (2) have (a) real estate assets with a current market value of not less than $750,000,000 (excluding the Mortgaged Property), (b) net worth of not less than $300,000,000, and (c) liquid assets of not less than $10,000,000, and (3) is not and has not been, as of the date for the closing of the applicable transfer or at any time prior thereto, (a) in default on any indebtedness or loan from Lender or any affiliate of Lender, (b) involved as a debtor or as the principal of a debtor in any bankruptcy, reorganization or insolvency proceeding, (c) the subject of any criminal charges or proceedings, (d) involved in litigation which is deemed significant by Lender, or (e) an OFAC Prohibited Person. All of the foregoing conditions must be satisfied as of the date of the request for approval of transfer of title to the Mortgaged Property as provided in Section 8.2 and on the date of the proposed closing of said transfer.
Qualified Real Estate Investor is defined as any reputable corporation, partnership, joint venture, joint-stock company, trust or one or more individuals which (x) shall have a minimum net worth of at least One Hundred Fifty Million Dollars ($150,000,000), real estate assets of at least Three Hundred Million Dollars ($300,000,000), and short-term liquid assets of at least Ten Million Dollars ($10,000,000) and (y) if a foreign entity or person(s), shall be represented by a domestic real estate advisor, and in any case shall be free from any bankruptcy, reorganization or insolvency proceedings or any criminal charges or proceedings in the United States of America or any foreign country which would, in Mortgagee's reasonable judgment, raise a material question as to the reputation of the investor or its ability to own and to operate the Real Property and shall not have been, at the time of transfer or in the past, an adverse party in any suit or proceeding brought against or by Mortgagee. Mortgagee agrees to be reasonable in the review of such qualifications.
Qualified Real Estate Investor means any Person domiciled within the United States of America that has, together with its Affiliates, a minimum net worth of $10,000,000, provided the managers of such Person or its Affiliates have sufficient commercial real estate experience with respect to developments similar to the Project or have hired a manager or separate management company that has such experience and will manage, or oversee the management of, the Project.
Qualified Real Estate Investor means any reputable Person domiciled in the United States of America which has equal the financial strength, qualifications and creditworthiness of Borrower at the time of the disbursement of the Note, evaluated as of a date which is 30 days prior to the date of the proposed closing of the transfer of title to the Mortgaged Property and on the day after the proposed closing of the transfer. Additionally, neither the proposed purchaser nor any principal of the proposed purchaser, whether on the date for the closing of the transfer of title to the Mortgaged Property or at any time prior thereto, may be (i) in default on any indebtedness or loan from Beneficiary or any affiliate of Beneficiary, (ii) involved as a debtor in any bankruptcy, reorganization or insolvency proceeding, (iii) the subject of any criminal charges or proceeding, or (iv) an entity or individual who is or has been involved in litigation which is in good faith deemed significant by Lender.
Qualified Real Estate Investor means any Person domiciled within the United States of America that has, together with its Affiliates, a minimum net worth (treating any subordinated or mezzanine financing as equity) at least equal to the lesser of (i) $10,000,000 or (ii) 20% of the appraised value of the Land, as of the date of its (or their) last audited financial statements or as otherwise certified by an independent ce1tified public accountant or firm thereof, provided the managers of such Person or its Affiliates have sufficient commercial real estate experience with respect to developments similar to the Project or have hired a manager or separate management company that has such experience and will manage, or oversee the management of, the Project. For purposes of the above the term "last audited financial statements" shall be deemed to include unaudited financial statements compiled by an independent certified public accountant or firm thereof accompanied by an accountant's letter or unaudited financial statements ce1tified by a member of the management of the proposed assignee of this Lease.
(d) Any assignment authorized by this Section 9.1 shall be subject to each of the following conditions:
(i) Any such assignee shall agree to fully and unconditionally assume all obligations of the Company under this Lease, including, without limitation, all indemnity provisions contained in this Lease, whereupon the assignor shall automatically be released from all obligations arising under this Lease accruing prior to the assignment; and
(ii) The Company shall, within thirty (30) days prior to the execution of any assignment or any merger, consolidation or sale of substantially all of its assets, furnish or cause to be furnished to the Issuer a true and complete copy of such proposed assignment or documents of merger, consolidation or sale of assets, as the case may be. The Company or such assignee shall, within thirty (30) days after the execution thereof, furnish or cause to be furnished to the Issuer a true and complete copy of such assignment or documents of merger or consolidation or sale of assets, as the case may be, as actually executed. The Issuer and the Holder shall have the right, at any time and from time to time, to notify any assignee of their rights under this paragraph. Any purported assignment in violation of this Section shall be void, as the interest of the Company, being a usufruct and bailment for hire, is not assignable except as herein provided. In the case of an assi...