Qualified Manager any of (a) the OP (provided the OP Controls the Borrower and Owner at the time in question), (b) an Affiliated Manager, (c) any property manager Controlled (within the sense of clause (ii) of the defined term “Control”) by the REIT (provided the REIT Controls the Borrower and Owner at the time in question) or (d) in the reasonable judgment of Lender, a reputable and experienced management company which (i) is a reputable national (or regional) major management company having at least five (5) years’ experience in the management of commercial properties of comparable quality to the Property, with similar uses as the Property and in the jurisdiction in which the Property is located, (ii) at the time of its engagement has managed, for at least five (5) years prior to its engagement as property manager, at least five (5) commercial office buildings of comparable quality to the Property, (iii) at the time of its engagement as property manager is managing leasable square footage of office buildings of comparable quality to the Property equal to five (5) times the leasable square feet of the Property or such lesser amount as is approved by the applicable Rating Agencies and (iv) is not the subject of a Bankruptcy Action; provided that Borrower or Owner shall have obtained prior written confirmation from the applicable Rating Agencies that management of the Property by such Person will not cause a downgrade, withdrawal or qualification of the then current ratings of the Securities or any class thereof (provided that no such written confirmation from the Rating Agencies in connection with such Qualified Manager will be required in connection with Permitted Transfers under Section 5.26.5 hereof and the Transfer and Assumption under Section 5.26.6 hereof not requiring such prior written confirmation from the Rating Agencies).
Qualified Manager. A property manager of any of the Borrowing Base Assets which (i) is a reputable management company having at least three (3) years’ experience in the management of properties with similar uses as the applicable Borrowing Base Asset, (ii) has, for at least three (3) years prior to its engagement as property manager, managed at least five (5) properties of the same property type as the applicable Borrowing Base Asset, (iii) is managing at least 300,000 rentable square feet at the time of its engagement as property manager (if the applicable Borrowing Base Asset is an MOB), is managing at least 100,000 rentable square feet at the time of its engagement as property manager (if the applicable Borrowing Base Asset is an LTAC, Rehab, Hospital or ASC), has managed at least 500 individual units in the three (3) years preceding its engagement as Property Manager (if the applicable Borrowing Base Asset is an ILF or ALF), has managed at least 500 individual beds in the three (3) years preceding its engagement as Property Manager (if the applicable Borrowing Base Asset is a SNF), or that is otherwise reasonably acceptable to the Agent (if the applicable Borrowing Base Asset is a HRP), and (iv) is not and has not been for the preceding five (5) years the subject of a bankruptcy or similar insolvency proceedings or a material violation or investigation with respect to compliance with Healthcare Laws or Third Party Payor Programs.
Qualified Manager. As defined in the Specified Senior Secured Credit Agreement.
Qualified Manager. A Manager that is (or is controlled by, controlling or under common control with) a professional management company which at the time of the Manager's engagement as Manager shall be the property manager for at least ten (10) hotel properties containing at least one thousand three hundred (1,300) rooms exclusive of the Leased Properties. RCRA: The Resource Conservation and Recovery Act, as amended.
Qualified Manager. The Property shall at all times be managed by a Qualified Manager. Mortgagee acknowledges that the Management Agreement has been approved. Any subsequent agreement for the management and operation of the Property shall also be subject to Mortgagee’s approval (other than amendments to the Management Agreement that do not increase the base management fee above 5% of the gross revenues of the Property or increase other fees or commissions payable to Manager, unless Mortgagor reasonably determines that the same would result in greater cost savings to Mortgagor than increases in such fees and or commissions or cause the Management Agreement to contain commercially unreasonable terms. Mortgagor shall provide copies of any amendments to the Management Agreement to Mortgagee promptly after execution thereof.
Qualified Manager. A property manager of any of the Borrowing Base Assets which (i) is a reputable management company having at least three (3) years’ experience in the management of properties with similar uses as the applicable Borrowing Base Asset, (ii) has, for at least three (3) years prior to its engagement as property manager, managed at least five (5) properties of the same property type as the applicable Borrowing Base Asset, (iii) is managing at least 300,000 rentable square feet at the time of its engagement as property manager (if the applicable Borrowing Base Asset is an MOB), is managing at least 100,000 rentable square feet at the time of its engagement as property manager (if the applicable Borrowing Base Asset is an LTAC, Rehab, or ASC), has managed at least 500 individual units in the three (3) years preceding its engagement as Property Manager (if the applicable Borrowing Base Asset is an ILF or ALF), or has managed at least 500 individual beds in the three (3) years preceding its engagement as Property Manager (if the applicable Borrowing Base Asset is a SNF), and (iv) is not and has not been for the preceding five (5) years the subject of a bankruptcy or similar insolvency proceedings or a material violation or investigation with respect to compliance with Healthcare Laws or Third Party Payor Programs.
Qualified Manager either (a) Manager, or (b) a reputable and experienced management organization (which may be an Affiliate of a Borrower) possessing experience in managing properties similar in size, scope, use and value as the Properties and approved by Lender.
Qualified Manager. The Property shall at all times be managed by a Qualified Manager. Lender acknowledges that the Management Agreement has been approved. Any subsequent agreement for the management and operation of the Property shall also be subject to Lender’s approval (other than amendments to the Management Agreement that do not increase the base management fee above 5% of the gross revenues of the Property or increase other fees or commissions payable to Manager, unless Borrower reasonably determines that the same would result in greater cost savings to Borrower than increases in such fees and or commissions or cause the Management Agreement to contain commercially unreasonable terms). Borrower shall provide copies of any amendments to the Management Agreement to Lender promptly after execution thereof.
Qualified Manager. Buyer and New Guarantor each hereby represents and warrants to Lender that immediately following the Assumption, the Property shall be managed by a Qualified Manager.
Qualified Manager. Article 3, Subsection 3.16(a);
