Replacement Tenant definition

Replacement Tenant. As defined in Section 7.2(d).
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Replacement Tenant shall have the meaning set forth in the definition of “Lease Replacement Event”.
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Replacement Tenant shall have the meaning set forth in SECTION 6.6.1(b)
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Examples of Replacement Tenant in a sentence

  • Tenant understands that there is a risk that no suitable Replacement Tenant may be found.

  • Tenant is responsible for all payments as they become due under this Agreement, regardless of move-out date, until the Replacement Tenant begins Replacement Tenant’s tenancy.

  • Immediate occupancy by a Replacement Tenant after Tenant's move-out date is dependent on the availability of a Replacement Tenant and the cleaning and preparation of the Rental Property.

  • If an eligible replacement tenant ("Replacement Tenant") is identified to move into the Rental Property, the Replacement Tenant may begin occupancy at any time between the move-out date and the remainder of the term.

  • This will include the days when Housing Services is required to prepare the Rental Property for the Replacement Tenant if a Replacement Tenant is found.

  • The Property shall be used only as a retail facility and uses ancillary thereto, and, except for any permitted use by PETsMART or an Acceptable Replacement Tenant as set forth in the PETsMART Lease or an Acceptable Replacement Lease, for no other use, without the prior written consent of Lender.

  • Transfer approval is dependent on housing availability, applicant pools, and termination of existing Agreement with eligible Replacement Tenant.

  • Without the prior written consent of Lender, which Lender may give or withhold in its sole discretion, Borrower shall not terminate, amend, revoke or modify any Tenant Direction Letter in any manner whatsoever, nor shall Borrower permit or consent to, directly or by acquiescence, any failure or refusal of Anchor Tenant or any Replacement Tenant to pay Rent as provided pursuant to the Tenant Direction Letter (or as Lender may otherwise direct in writing from time to time).

  • Tenant agrees that Landlord approval is necessary PRIOR TO any roommate change and that execution of the Addendum to Add Replacement Tenant or the Addendum to Add Roommate as appropriate.

  • The Property shall be used only as a retail facility and uses ancillary thereto, and, except for any permitted use by PetsMART or an Acceptable Replacement Tenant as set forth in the PetsMART Lease or an Acceptable Replacement Lease, for no other use, without the prior written consent of Lender.


More Definitions of Replacement Tenant

Replacement Tenant shall have the meaning set forth in Section 6.6.2(b).
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Replacement Tenant. The entity that has been identified to the Lenders as desiring to lease certain retail Store premises presently leased to the Lead Borrower.
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Replacement Tenant means a single department store occupying the entire space formerly occupied by the Anchor Tenant, and which carries a merchandise assortment in terms of breadth of selection and quality of said merchandise which is equal to or better than that carried on by the Anchor Tenant. For clarity, it is agreed that large single purpose stores such as furniture stores, toy stores, or sporting goods stores shall not be considered department stores or a suitable Replacement Tenant, regardless of such store size and trade name, and whether or not they carry merchandise of the same or better quality than was carried on by the Anchor Tenant.”
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Replacement Tenant is a tenant that is acceptable to Lender in the exercise of its reasonable discretion, and which has executed a new lease agreement (on Borrower's standard lease form approved by Lender, or as otherwise agreed to by Lender) that: (i) shall be on a triple-net basis with an initial term of not less than 5 years; (ii) shall provide for rental rates net to the Landlord no less than that payable by the "TERMINATED TENANT" it is replacing (on a square foot basis, after taking into account all payments to be made with respect to both rent and occupancy costs by the Terminated Tenant or the Landlord, as they are compared to corresponding payments and obligation by the proposed Replacement Tenant or undertaken by Borrower under the proposed new lease) and that are otherwise comparable to existing local market rates for the space rented in an arms-length transaction; (iii) shall not contain any options for renewal or expansion by the tenant at rental rates that are either below comparable market levels or less than the rental rates paid by the Terminated Tenant (net to the Landlord, as noted above) during its initial lease term; (iv) in each case shall be to a tenant that is experienced, creditworthy, and reputable and whose use of the leased premises does not violate any restrictive use provision in any other then existing lease of that Individual Property; (v) unless waived by Lender in the exercise of its sole but reasonable discretion, shall require continuous operations of that tenant's business on and from 100% of the premises leased thereunder other than during interim periods necessary for the restoration of those premises after a casualty or during similar periods when that use, operation and/or occupancy is not required under the terms of that lease (a "CONTINUOUS OPERATION CLAUSE"); and (vi) shall not contain an option to purchase, right of first refusal, right to terminate or reduce the lease term (except in the event of destruction of all, or substantially all, of the Property or as otherwise permitted by Lender in the exercise of its sole discretion). A lease to a Replacement Tenant that is approved by Lender is a "REPLACEMENT LEASE". If Lender shall consent to a waiver of any of the foregoing conditions or requirements, it may condition that consent upon Borrower's agreement to the requirement of the continuation of the Rollover Escrow Fund under terms and conditions acceptable to Lender and a monthly payment into the Rollover Escrow Fund in accordanc...
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Replacement Tenant shall have the meaning given to such term in the Master Lease.
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Replacement Tenant. As defined in Section 61(a) hereof.
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Related to Replacement Tenant

  • Anchor Tenant means, with respect to a Community Renewable Energy Generation Project, the non-End Use Customer subscriber designated by Seller as such under its SFA application.” The following is added as Section 1.3.3:

  • Sublessee means any party to whom Lessee grants the right to possess all or any portion of the Premises according to a Sublease.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • Major Tenant means a tenant of a Loan Party under a lease of Property which entitles it to occupy 15,000 square feet or more of the net rentable area of such Property.

  • Sublessor means one who conveys real property by sublease."

  • Sublandlord means the holder of sublandlord’s interest under this Sublease. In the event of any assignment or transfer of the Sublandlord’s interest under this Sublease, which assignment or transfer may occur at any time during the Term in Sublandlord’s sole discretion, Sublandlord shall be and hereby is entirely relieved of all covenants and obligations of Sublandlord hereunder accruing subsequent to the date of the transfer and it shall be deemed and construed, without further agreement between the parties hereto, that any transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublandlord hereunder. Sublandlord may transfer and deliver the then existing Letter of Credit to the transferee of Sublandlord’s interest under this Sublease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto. In addition. Sublandlord shall comply with all of its obligations as “Tenant” under the Master Lease except to the extent that any such obligation is the obligation of Subtenant pursuant to the terms of this Sublease. Notwithstanding any other term or provision of this Sublease, the liability of Subtenant to Sublandlord for any default in Subtenant’s obligations under this Sublease shall be limited to actual, direct damages, and under no circumstances shall Sublandlord, its partners, members, shareholders, directors, agents, officers, employees, contractors, sublessees, successors and/or assigns be entitled to recover from Subtenant (or otherwise be indemnified by Subtenant) for lost revenues, lost profit or other consequential, special or punitive damages arising in connection with this Sublease for any reason, except for any breach by Subtenant under Section 12 of the Master Lease. Notwithstanding any other term or provision of this Sublease, no personal liability shall at any time be asserted or enforceable against Subtenant’s shareholders, directors, officers, or partners on account of any of Subtenant’s obligations or actions under this Sublease.

  • Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Landlord Agreement means an agreement substantially in the form provided by Lender to Borrower or such other form as Lender may agree to accept.

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • Owner or operator means any person who owns, leases, operates, controls, or supervises a stationary source.

  • Landlord means the owner, lessor or sublessor of the dwelling unit or the building of which such

  • Permitted Sublessee means the sublessee under a Permitted Sublease.

  • Major Tenants has the meaning ascribed to such term in Section 7.2.

  • Permitted Lessee means the lessee under a Permitted Lease.

  • the Tenant means the party(ies) named on the tenancy agreement as the tenant of The Property.

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

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

  • Substantial alteration means an alteration that has a major impact on the architectural features, characteristics, appearance, or integrity of a structure or lot. The term does not include routine maintenance that is reasonably necessary to maintain a dealership facility in attractive condition and does not include any changes to items protected by federal intellectual property rights.

  • this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.

  • Major Alteration means change other than repair or replacement of building materials or equipment with materials and equipment of a similar type.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Landlord Access Agreement means a Landlord Access Agreement, substantially in the form of Exhibit G, or such other form as may reasonably be acceptable to the Administrative Agent.

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and