Tenant Competitor. As of any date of determination, any Person (other than Tenant and its Affiliates) that is engaged, or is an Affiliate of a Person that is engaged, in the ownership or operation of a Gaming business; provided, that, (i) for purposes of the foregoing, ownership of the real estate and improvements where a Gaming business is conducted, without ownership of the Gaming business itself, shall not be deemed to constitute the ownership of a Gaming business, (ii) any investment fund or other Person with an investment representing an equity ownership of fifteen percent (15%) or less in a Tenant Competitor and no Control over such Tenant Competitor shall not be a Tenant Competitor, (iii) solely for purposes of Section 18.4(c), a Person with an investment representing an equity ownership of twenty-five percent (25%) or less in a Non-Core Tenant Competitor shall be deemed to not have Control over such Tenant Competitor, and (iv) Landlord shall not be deemed to become a Tenant Competitor by virtue of it or its Affiliate’s acquiring ownership, or engaging in the ownership or operation of, a Gaming business, if Landlord or any of its Affiliates first offered CEC (or its Subsidiary, as applicable) the opportunity to lease and manage such Gaming business pursuant to the ROFR Agreement and CEC (or its Subsidiary, as applicable) did not accept such offer.
Tenant Competitor means, as of any date of determination, any Person (other than Tenant, CEOC, Lease Guarantor and any of their respective Affiliates) that is engaged, or is an Affiliate of a Person that is engaged, in the ownership or operation of a Gaming business; provided that (i) for purposes of the foregoing, ownership of the real estate and improvements where a Gaming business is conducted, without ownership of the Gaming business itself, shall not be deemed to constitute the ownership of a Gaming business, (ii) any investment fund or other Person with an investment representing an equity ownership of fifteen percent (15%) or less in a Tenant Competitor and no Control over such Tenant Competitor shall not be a Tenant Competitor, (iii) solely for purposes of Section 11.4.1.2(iii), a Person with an investment representing an equity ownership of twenty-five percent (25%) or less in a Non-Core Tenant Competitor shall be deemed to not have Control over such Tenant Competitor, and (iv) Landlord shall not be deemed to become a Tenant Competitor by virtue of it or its Affiliate’s acquiring ownership, or engaging in the operation of, a Gaming business, if Landlord or any of its Affiliates first offered CEC (or its Subsidiary, as applicable) the opportunity to lease and manage such Gaming business pursuant to the ROFR Agreement (as defined in the Lease) and CEC (or its Subsidiary, as applicable) did not accept such offer. For purposes of this definition, the terms “Affiliate,” “Control,” “Person” and “Subsidiary” shall each have the meaning given thereto in the Lease.
Tenant Competitor means a tenant under a Future Lease which is a Competitor as of the date on which such Future Lease is executed or which becomes a Competitor during the term of such Future Lease (other than as a result of being acquired by, or otherwise becoming an Affiliate of, a Competitor).
Examples of Tenant Competitor in a sentence
In the event that REIT becomes a Tenant Competitor with respect to any Leased Property, the REIT Observer shall return to CEOC or destroy all Confidential Information in accordance with Section 1.4.6.
The consent of Tenant, in its sole discretion (which shall not be subject to arbitration hereunder), shall be required for any such assignment, transfer or sale to a Tenant Competitor or any Affiliate thereof, except pursuant to a Theme Park Related Transfer.
Tenant acknowledges and agrees that (x) as of the Commencement Date, Joliet Partner is a minority interest holder in the landlord under the Joliet Lease and does not Control such landlord; and (y) for so long as the circumstances in clause (x) continue and the Joliet Partner continues to own no more than twenty percent (20%) of the interest in such landlord, neither Landlord nor any of its Affiliates shall be deemed to be a Tenant Competitor solely as a result of the circumstances in clause (x).
Such consent shall in no event be construed to relieve Landlord or such assignee or buyer from the obligation of obtaining the express consent in writing of Tenant to any further such assignment, transfer or sale to a Tenant Competitor to the extent such consent is required hereunder.
If at any time REIT is a Tenant Competitor with respect to any Leased Property (each as defined in the Master Lease Agreements), REIT and the REIT Designee shall promptly return to CES or destroy any Confidential Information (and all copies thereof) furnished to REIT or the REIT Designee by or on behalf of CES pursuant hereto; provided, that any such destruction shall, upon CES’s request, be promptly certified in writing to CES by REIT and the REIT Designee.
More Definitions of Tenant Competitor
Tenant Competitor. A Person or Affiliate of any Person (other than an Affiliate of Tenant) which is (i) among the top 25 global gaming companies by annual revenues, or (ii) any Person that has or is proposing to build, own or operate a casino resort located in the Gaming Corridor, or (iii) any Person identified in a letter of even date herewith from Tenant to Landlord, or their Affiliates; provided, that the foregoing shall not include commercial or corporate banks, pension funds, mutual funds and any other funds that are managed or controlled by a commercial or corporate banks which funds principally invest in commercial loans or debt securities and shall not apply to any holder or purchaser of only unsecured Indebtedness, provided; further, that clauses (i) and (ii) above shall not include any Person that has elected to be treated as a real estate investment trust and whose primary business activity is limited to acting as a landlord of properties under long-term triple-net leases that may include Gaming Facilities.
Tenant Competitor means a “Prohibited URH Transferee” as defined in the Partnership Agreement.
Tenant Competitor means any Person whose business includes the operation of one or more traditional retail department stores (or stores with departments similar to Tenant) in a state in which BONT or any Subsidiary of BONT operates a retail department store. Notwithstanding anything to the contrary set forth in this paragraph (i), Tenant’s consent shall not be required (x) if an Event of Default shall be continuing under this Lease or (y) in connection with (A) any sale of the Leased Premises pursuant to a private power of sale under or judicial foreclosure of any Mortgage or other security instrument or device to which Landlord’s interest in the Leased Premises is now or hereafter subject, (B) any transfer of Landlord’s interest in the Leased Premises to a Lender, beneficiary under deed of trust or other hold of a security interest therein or their designees by deed in lieu of foreclosure, or (C) any transfer that occurs after any occurrence described in (A) or (B) of the foregoing.
Tenant Competitor means any Person (i) whose primary business is the collection and distribution of news by one or more of the following: media, newspapers, magazines, internet, television and/or the radio, or (ii) who derives more than $2 Billion in revenue during the most recent calendar year from the collection or distribution of news by one or more of the following: media, newspapers, magazines, internet, television and/or the radio, provided that the foregoing shall not preclude a Sale to a Third Party Purchaser that is a bona fide institutional investor, real estate investment company, trust or fund, or sovereign wealth fund that, in any case, would otherwise constitute a Tenant Competitor under clause (ii) hereof as a result of its holdings.
Tenant Competitor means a person or entity principally and primarily engaged, directly or indirectly (including through any partnership, limited liability company, corporation, joint venture or similar arrangement (whether now existing or formed hereafter)) in the restaurant point of sale business.
Tenant Competitor means any Person that is engaged in any of the following and has annual revenue primarily derived from the activities described below in excess of $100,000,000:
Tenant Competitor means (i) any entity listed on Schedule IV attached hereto as such Schedule IV may be supplemented in accordance with the provisions of Section 11.2.9(g) and (ii) any subsidiary (a) Controlled by any such entity listed on Schedule IV (as may be supplemented in accordance with the terms hereof) and (b) owned at least fifty-one percent (51%) by any such entity listed on Schedule IV (as may be supplemented in accordance with the terms hereof).