Qualifying Subtenant definition
Qualifying Subtenant means a subtenant that (a) complies with all requirements of Paragraph 21; (b) is not an Affiliate of Tenant; and (c) has Sufficient Creditworthiness.
Qualifying Subtenant means a subtenant, as of the date of the execution of the Nondisturbance Agreement and as of the Lease termination:
(A) that complies with all requirements of this Section 18(d);
(B) is not an affiliate of Tenant;
(C) is an “investment grade” credit (i.e., BBB or higher as rated by Standard and Poors), or if such subtenant is not otherwise rated, has at such time a “shadow rating” (as determined using the same criteria utilized by Standard and Poors, Moodys or in the event neither entity remains in existence, such other rating agency generally recognized by the investment banking industry reasonably acceptable to Landlord) that is an “investment grade” credit;
(D) is not in default of any of its obligations under a Qualifying Sublease.
Qualifying Subtenant means a subtenant under a sublease for all or any portion of the Premises that is consummated in accordance with Article 12 hereof.
Examples of Qualifying Subtenant in a sentence
Except for transfers of Control that are permitted under Section 12.4 hereof, the transfer of Control of any entity that constitutes Tenant or a Qualifying Subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, shall be deemed an assignment of this Lease, or of the applicable sublease, as the case may be.