Restricted Owner definition

Restricted Owner means (i) Developer and (ii) any Person who directly or indirectly owns or holds any interest in Developer or any Casino Component Manager/Operator of a Component other than any Person who would be a Restricted Owner due solely to that Person’s ownership of (x) a direct or indirect interest in a Publicly Traded Corporation or (y) a five percent (5%) or less direct or indirect interest in (1) Developer unless, in the case of clause (y), upon completion of any Transfer the transferee will in the aggregate own or hold a five percent (5%) or more direct or indirect ownership interest in Developer, or (2) the Casino Component Manager/Operator of a Component. The covenants that Developer is to perform under this Agreement for City’s and EDC’s benefit and the services that each Casino Component Manager/Operator of a Component renders with respect to the Casino Complex are personal in nature. City and EDC are relying upon Developer and the Casino Component Manager/Operators in the exercise of their skill, judgment, reputation and discretion with respect to the Casino Complex. From and after the Execution Date under the Amended Agreement, any Transfer by a Restricted Owner of (x) any direct ownership interest in Developer or any Casino Component Manager/Operator of a Component, whether held by virtue of partnership, limited liability company, corporation or other form of entity; or (y) any ownership interest in any Restricted Owner, whether held by virtue of partnership, limited liability company, corporation or through other form of entity shall require the prior written consent of City, provided that with respect to a Transfer by any Restricted Owner other than a Transfer by Developer, any Affiliate of Developer or any Affiliate of any Casino Component Manager/Operator of a Component, City shall not withhold its consent to any Transfer unless the transferee (i) is in default on any debts due City, EDC or any other entity (a “Municipal Supported Entity”) that receives or received any City funding or subsidy to carry out its activities; (ii) has defaulted on any other material obligations to City, EDC or any Municipal Supported Entity whether or not such default has been cured; or (iii) has engaged in any frivolous litigation or made any frivolous claims against City as determined by a court, or has been found liable to the City for abuse of process or malicious prosecution with respect to claims against the City.

Restricted Owner is defined in Section 8.2(a). (eeee) “RFA-2” is defined in Section 2.2.

Restricted Owner means (i) Developer and (ii) any Person who has a direct or indirect interest in Developer through one (1) or more intermediary entities other than any Person who would be a Restricted Owner due solely to that Person’s ownership of (x) a direct or indirect interest in a Publicly Traded Corporation or (y) less than a five percent (5%) direct or indirect interest in Developer. The covenants that Developer is to perform under this Agreement for the City’s benefit are personal in nature. The City is relying upon Developer, the Parent Company and its controlled Affiliates and all other Restricted Owners in the exercise of their respective skill, judgment, reputation and discretion with respect to the Project. Any Transfer by a Restricted Owner of (x) any direct ownership interest in Developer; or (y) any ownership interest in any Restricted Owner, other than a Transfer of any ownership interest in Parent Company, shall require the prior written consent of the City.

Examples of Restricted Owner in a sentence

• The lien of all Mortgages affecting any Parcel or Parcels owned by any Restricted Owner shall at all times be subject and subordinate to all of the terms, covenants, conditions and obligations set forth in this Declaration, and to any amendments or modifications hereof.

• The provisions of Section 2(b) above do not apply to any Transfer by a Restricted Owner of such Restricted Owner's Owner Shares pursuant to (i) a registration statement filed under the Securities Act, or (ii) a sale effected through a national securities exchange or the Nasdaq Stock Market.

• The provisions of Section 2(b) above do not apply to any Transfer by a Restricted Owner of such Restricted Owner's Owner Shares in an Excluded Affiliate Transfer.

• In addition to any restrictions on the Transfer of Owner Shares that are imposed under the Securities Act or other applicable securities laws, no Restricted Owner shall Transfer or Pledge all or any part of such Restricted Owner's Owner Shares without the prior written consent of the other Restricted Owners or in accordance with this Section 2.

• Neither the Trustee nor the Administrator shall be liable for any violation of the Restricted Owner restrictions which may occur during the term of the Trust.

• Ownership by any Seller or any Restricted Owner, as a passive investment, of less than 5% of the publicly traded securities of any company listed on a national securities exchange or publicly traded on any nationally recognized over-the-counter market, that is competitive with any business of Buyers as of the Closing Date, shall not constitute a breach of this Section 6.9(c).

• In such cases no Consent Fee will be payable to such Bondholders.No Consent Fee will be payable to any Bondholder or beneficial owner of the Covered Bonds that is a Restricted Owner and no provision of any document or agreement relating to the Consent Solicitation shall entitle any Restricted Owner to payment of any amount in respect of any Consent Fee.

More Definitions of Restricted Owner

Restricted Owner is defined in Section 11.c. of this Agreement.

Restricted Owner is defined in Section 13.2(a) of this Agreement. “Site” means the Property.

Restricted Owner means an Owner that holds 1% or more of the Equity Interests in any Seller.