Tenant Opportunity definition

Tenant Opportunity means the opportunity to become the lessee under a mutually agreed upon lease arrangement of a property owned or subsequently acquired by the MSH Parties if the MSH Parties, in their sole discretion, determine that (i) consistent with MSH's status as a REIT, the MSH Parties are required to enter into such a lease arrangement for such property, including without limitation a hotel or similar type of facility and (ii) the OPCO Parties or an entity that the OPCO Parties control is qualified to be the lessee based on experience in the industry and financial and legal qualifications. A Tenant Opportunity shall not include (1) a property which already has an existing lessee as of the date of this Agreement (or, with respect to a property acquired subsequent to the date of this Agreement, which has an existing binding lessee arrangement that predates the acquisition of the property by the MSH Parties), provided that the MSH Parties shall offer any such lessee interest to the OPCO Parties if the lessee interest subsequently becomes available), (2) an opportunity in which the seller of the property (or any affiliate or designee of the seller) desires to enter into a lease agreement with the MSH Parties, or (3) a property which has at any time been leased from any of the MSH Parties to any of the OPCO Parties. The OPCO Parties shall have the right from time to time to provide written notice to the MSH Parties specifying certain criteria for a Tenant Opportunity in addition to the criteria specified above in this definition of Tenant Opportunity. Any such written notice from the OPCO Parties may be modified or canceled by written notice given by the OPCO Parties at any time. The definition of Tenant Opportunity shall be modified as appropriate from time to time in accordance with any such written notices sent by the OPCO Parties.
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Tenant Opportunity means the opportunity to become the lessee under a "master" lease arrangement of a property owned or subsequently acquired by the Operating Partnership if the Operating Partnership, in its sole discretion, determines that, consistent with the status of Crescent Equities as a REIT, the Operating Partnership is required to enter into such a "master" lease arrangement for such property, including without limitation a hotel or similar type of facility, so long as the Operating Partnership determines, in its sole discretion, that Crescent Operating or an entity that Crescent Operating controls is qualified to be the lessee based on experience in the industry and financial and legal qualifications, provided that all determinations relating to both (i) the ability or inability of the Operating Partnership to pursue an opportunity or acquire assets and (ii) the necessity for the Operating Partnership to enter into a "master" lease arrangement for a property, shall be made by the Operating Partnership in its sole discretion. A Tenant Opportunity shall not include (1) a property which already has an existing "master" lessee as of the date of this Agreement (or, with respect to a property acquired subsequent to the date of this Agreement, which has an existing binding "master" lessee arrangement that predates the acquisition of the property by the Operating Partnership), provided that the Operating Partnership shall offer any such "master" lessee interest to Crescent Operating if the lessee interest subsequently becomes available), or (2) an opportunity in which the seller of the property (or any affiliate or designee of the seller) desires to enter into a "master"
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Tenant Opportunity means the opportunity to become the lessee of any real property owned now or in the future by Vornado Sub if Vornado Sub determines in its sole discretion that, consistent with Vornado's status as a REIT, Vornado Sub is required to enter into a "master" lease arrangement with respect to such property and the Company is qualified to act as lessee thereof; provided, that the Company may from time to time modify the foregoing definition of Tenant Opportunity by providing written notice to Vornado Sub specifying certain additional criteria that an opportunity must meet in order to constitute a "Tenant Opportunity"; provided, further, that any such written notice from the Company may from time to time be modified or canceled by providing written notice to Vornado Sub; provided, further, that a Tenant Opportunity shall not include an opportunity in respect of (i) a property which has a "master" lessee as of the date of this Agreement, (ii) a property which has a "master" lessee that predates the acquisition of the property by Vornado Sub or (iii) a property whose seller (or any affiliate or designee of the seller) desires to enter into a "master" lease arrangement with respect to the property with Vornado Sub. In general, a "master" lease arrangement is an arrangement pursuant to which an entire property or project (or a group of related properties or projects) are leased to a single lessee.
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Examples of Tenant Opportunity in a sentence

  • If the MSH Parties do not enter into a binding agreement with respect to such Tenant Opportunity within such one-year period, or if the price and terms and conditions are more favorable to the tenant in any material respect than the price and terms and conditions last proposed in writing by the MSH Parties to the OPCO Parties, the MSH Parties shall again be required to comply with the procedures set forth above in this Section 3(a) if they desire to pursue such Tenant Opportunity.

  • The offer shall be made by written notice (the "MSH Notice") from the MSH Parties to the OPCO Parties, which MSH Notice shall contain a detailed description of the material terms and conditions under which the MSH Parties propose to offer such Tenant Opportunity to the OPCO Parties.

  • For a period of 30 days after the date that the MSH Parties deliver the MSH Notice to the OPCO Parties, the MSH Parties and the OPCO Parties shall negotiate with each other on an exclusive basis with respect to such Tenant Opportunity.

  • The MSH Parties shall thereafter provide or cause to be provided promptly to the OPCO Parties such additional information relating to the Tenant Opportunity as the OPCO Parties reasonably may request.

  • No termination, cancellation, modification, amendment, deletion, addition or other change in this Agreement, or any provision hereof or waiver of any right or remedy herein provided, shall be effective for any purpose unless such change or waiver is specifically set forth in a writing signed by the party or parties to be bound thereby, except any addition or modifications to the definition of "REIT Opportunity" or "Tenant Opportunity" as contemplated herein.

  • Her background includes managing political campaigns, organizing within the boycott division of UniteHere!, organizing endorsements for Berkeley's Tenant Opportunity to Purchase Act, and coalescing with tenants rights organizations.

  • Unless waived or expressly agreed to as part of a REIT Opportunity or Tenant Opportunity, (i) each party to this Agreement shall bear its own expenses with respect to any REIT Opportunity or Tenant Opportunity to which this Agreement is applicable and (ii) neither party to this Agreement shall be entitled to any compensation from the other party hereto with respect to any REIT Opportunity or Tenant Opportunity to which this Agreement is applicable.

  • Her background includes managing political campaigns, organizing within the boycott division of UniteHere!, organizing endorsements for Berkeley’s Tenant Opportunity to Purchase Act, and coalescing with tenants rights organizations.

  • The Operating Partnership shall thereafter provide or cause to be provided promptly to InnSuites Lessee such additional information relating to the Tenant Opportunity as InnSuites Lessee reasonably may request.

  • The offer shall be made by written notice (the "Operating Partnership Notice") from the Operating Partnership to the Joint Venture, which Operating Partnership Notice shall contain a detailed description of the material terms and conditions of the Tenant Opportunity.


More Definitions of Tenant Opportunity

Tenant Opportunity means the opportunity to become the lessee under a "master" lease arrangement of a Gaming Property (i.e., a lease arrangement in which the operators of the business conducted at the property prior to the date the property is owned or acquired by the Operating Partnership will cease to operate the business) owned or subsequently acquired by the Operating Partnership or any of its Controlled Affiliates if the Operating Partnership, in its sole discretion, determines that, consistent with the status of Crescent Equities as a REIT, the Operating Partnership is required to enter into such a "master" lease arrangement for such Gaming Property; PROVIDED that such determination shall be made by the Operating Partnership in its reasonable discretion. A Tenant Opportunity shall not include (1) a property other than a Gaming Property, (2) a Gaming Property which already has an existing "master" lessee as of the date of this Agreement (or, with respect to a Gaming Property acquired subsequent to the date of this Agreement, which has an existing binding "master" lessee arrangement that predates the acquisition of the Gaming Property by the Operating Partnership), provided that the Operating Partnership shall offer any such "master" lessee interest to the Joint Venture if the lessee interest subsequently becomes available), or (3) an opportunity in which the seller of the Gaming Property desires to enter into a "master" lease agreement with the Operating Partnership (each of the foregoing circumstances being referred to herein as an "Excluded Tenant Opportunity").
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Related to Tenant Opportunity

  • Investment opportunity means anything, tangible or intangible, that is offered, offered for sale, sold, or traded based wholly or in part on representations, either express or implied, about past, present, or future income, profit, or appreciation.

  • Equal Employment Opportunity For any federally assisted construction contract, as defined in 41 CFR 60-1.3, the contractor, subcontractor, subrecipient shall follow all of the requirements of the Equal Opportunity Clause as stated in 41 CFR 60-1.4.

  • EEOC means the United States Equal Employment Opportunity Commission.

  • Contractor Related Parties means any affliates of the Contractor and the Contractor's executive officers, Pennsylvania officers and directors, or owners of 5 percent or more interest in the Contractor.

  • Government Agency means any government or any public, statutory, governmental, semi-governmental, local governmental or judicial body, entity or authority and includes a Minister of the Crown or the Commonwealth of Australia and any person, body, entity or authority exercising a power pursuant to an Act of Parliament.

  • NLRB means the United States National Labor Relations Board.

  • Police means, in relation to the first-mentioned place in subsection (1), any police force in that place, or a member thereof, whether that force is organised at a national, regional or local level;

  • EPA means the United States Environmental Protection Agency.

  • Lobbyist means any person or entity who undertakes to influence any legislative or administrative action on behalf of any person or entity other than: (1) a not-for-profit entity, on an unpaid basis, or (2) himself. "Lobbyist" also means any person or entity any part of whose duties as an employee of another includes undertaking to influence any legislative or administrative action.

  • Lobbying means the advocacy of an interest that is affected, actually or potentially by the procurement process or individuals involved in the procurement process including seeking to influence the outcome of the procurement process or subsequent award of a contract.

  • Water Authority means the body corporate known as the Water Authority of Western Australia established by the Water Authority Xxx 0000;

  • County commission means the board of county commissioners of the county.

  • Civil union means a civil union established pursuant to Act 91 of the 2000 Vermont Legislative Session, entitled “Act Relating to Civil Unions”.

  • Commission means the Securities and Exchange Commission.

  • Best management practice or "BMP" means schedules of activities, prohibitions of practices, including both structural and nonstructural practices, maintenance procedures, and other management practices to prevent or reduce the pollution of surface waters and groundwater systems from the impacts of land-disturbing activities.

  • Government Entity means (a) any federal, state, provincial or similar government, and any body, board, department, commission, court, tribunal, authority, agency or other instrumentality of any such government or otherwise exercising any executive, legislative, judicial, administrative or regulatory functions of such government or (b) any other government entity having jurisdiction over any matter contemplated by the Operative Documents or relating to the observance or performance of the obligations of any of the parties to the Operative Documents.

  • Best management practices (BMP) means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the United States. BMPs include treatment requirements, operation procedures, and practices to control plant site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.