Eligible Sublease means a direct sublease:
Eligible Sublease shall have the meaning assigned to such term in Section 8.7.1.
Eligible Sublease means a Sublease entered into by and between Tenant and a Subtenant consistent with the terms of this Article VIII, and which (i) demises a portion(s) of the Leased Premises containing either (x) a full floor of the Building (i.e., all the Leasable Area on a floor of the Building), or (y) not less than 5,000 RSF of Net Rentable Area (in the aggregate), and (ii) has a term of at least five (5) years.
Examples of Eligible Sublease in a sentence
Landlord shall, within thirty (30) days after Tenant’s written request, accompanied by an executed counterpart of an Eligible Sublease (as hereinafter defined), deliver to Tenant and the subtenant under an Eligible Sublease (herein called an “Eligible Subtenant”) a non-disturbance agreement (herein called a “Landlord’s Non-Disturbance Agreement”) on Landlord’s standard form.
In such event, Landlord shall execute and deliver the Landlord’s Non-Disturbance Agreement promptly following, or concurrently with, delivery of the fully executed Eligible Sublease and counterparts of the Landlord’s Non-Disturbance Agreement executed by the subtenant.
Thereafter, Tenant shall have no right to sublease the Eligible Sublease Premises unless Tenant shall have again complied with the procedures set forth in this Section 7.3.
In addition, to be an Eligible Sublease for a Mortgagee SNDA, after considering all other space that is then subleased, the remaining space in either tower which is not sublet must be completely contiguous.
The Society encourages all Eligible Sublease Voters to designate a Registered Sublease Voter for their respective sublease property in order to achieve a full turnout of the 351 voters for the Lease Vote.
More Definitions of Eligible Sublease
Eligible Sublease means any sublease entered into by Original Tenant as sublandlord which (A) demises full floor(s) of the Premises, (B) has an initial sublease term (i.e. not including any renewals) of at least five (5) years, (C) demises subleased premises which are either contiguous to leasable space in the Building other than the Premises or are either the highest or lowest floors which are part of the Premises, and (D) demises subleased premises to a subtenant with a net worth and creditworthiness computed in accordance with GAAP reasonably acceptable to Landlord and Landlord’s Mortgagee and/or Overlandlord.
Eligible Sublease means a direct sublease which (A) is between Tenant and a subtenant which is not an Affiliate of Tenant, and as of the execution of the Eligible Sublease, has a financial condition reasonably satisfactory to Landlord taking into account the obligations in question (it being agreed that the financial condition of a subtenant shall be deemed satisfactory if such subtenant has a net worth, computed in accordance with generally accepted accounting principles consistently applied, equal to or greater than the annual Fixed Rent and Additional Rent then payable by Tenant on account of the portion of the Premises demised under the Eligible Sublease (without giving effect to any free rent or rent abatement) as the same may be increased pursuant to Section 14.13(a)(i) multiplied by fifteen (15), (B) demises at least one (1) full floor of the Premises, and (C) has an initial sublease term (i.e., not including any renewals) of at least five (5) years (or, if less than five (5) years remain in the Term, the remaining balance of the Term less one day).
Eligible Sublease means a direct sublease which (A) is between Tenant and a subtenant which is not an Affiliate of Tenant, and, as of the execution of the Eligible Sublease, has a net worth, computed in accordance with GAAP, equal to or greater than the product of the annual Fixed Rent and Recurring Additional Charges then payable by Tenant on account of the portion of the Premises demised under the Eligible Sublease (without giving effect to any free rent or rent abatement) multiplied by 17.5, (B) demises at least one or more full floor(s) of the Premises of contiguous space beginning with (and which must include) the highest or lowest full floors of the Premises (it being agreed that any partial floor(s) of the Premises and any Amenity Floor shall be disregarded for purposes of determining the highest or lowest floors of the Premises), (C) if a Landlord Non-Disturbance Agreement has theretofore been delivered by Landlord with respect to an Eligible Sublease which is then in effect, (x) demises at least one (1) or more full floors of the Premises which are contiguous to each other and contiguous to the floors demised pursuant to such existing Eligible Sublease (it being agreed that any Amenity Floor shall be disregarded for purposes of determining whether such Eligible Subleases are contiguous to each other and contiguous to the floors demised pursuant to such existing Eligible Sublease) and (y) has a term which ends on the same day as the Eligible Sublease in question (and without any renewal or extension option which might result in such term ending on a different day) and (D) has an initial sublease term (i.e., not including any renewals) of at least 5 years (or, if less than 5 years remain in the Term, the remaining balance of the Term less one day).
Eligible Sublease as defined in Section 14.3(b)(i).
Eligible Sublease means a direct sublease which (A) is between Tenant and a subtenant which is not an Affiliate of Tenant, and as of the execution of the Eligible Sublease, has a financial condition reasonably satisfactory to Landlord taking into account the obligations in question (it being agreed that the financial condition of a subtenant shall be deemed satisfactory if such subtenant has a net worth, computed in accordance with generally accepted accounting principles consistently applied, equal to or greater than the annual Fixed Rent and Additional Rent then payable by Tenant on account of the portion of the Premises demised under the Eligible Sublease (without giving effect to any free rent or rent abatement) as the same may be increased pursuant to Section 14.14(a)(i) multiplied by ten (10), (B) demises at least one (1) full floor of the Premises and must include the highest or lowest floor of the Premises or if more than one Eligible Sublease is in effect, must include the next contiguous floor above or below the highest or lowest floor subject to the Eligible Sublease, and (C) has an initial sublease term (i.e. not including any renewals) of at least five (5) years (or, if less than five (5) years remain in the Term, the remaining balance of the Term less one day).
Eligible Sublease means a direct sublease which (A) is between Tenant and a subtenant which is not an Affiliate of Tenant, and, as of the execution of the Eligible Sublease, has a financial condition reasonably satisfactory to Landlord taking into account the obligations in question (it being agreed that the financial condition of a subtenant shall be deemed satisfactory if such subtenant or a guarantor of such subtenant’s obligations under the Eligible Sublease, provided the form of such guaranty is reasonably acceptable to Landlord and such guarantor joins in the execution of the Landlord’s Non-Disturbance Agreement meets the Minimum Subtenant Net Worth), (B) demises at least one or more full floor(s) of the Premises of contiguous space beginning with the highest or lowest floor of any contiguous block of three (3) or more floors of the Premises then leased by Tenant (or beginning with the floor directly below or above the highest or lowest floor, respectively, of any Eligible Contiguous Space, as applicable) and/or any floor or floors of the Premises that are not part of a contiguous block of three (3) or more full floors of the Premises, including any full floors which are not contiguous to any other floor of the Premises, and (C) has an initial sublease term (i.e., not including any renewals) of at least 5 years (or, if less than 5 years remain in the Term, the remaining balance of the Term less one day).
Eligible Sublease means a direct sublease which (A) is between Tenant and a subtenant which is not an affiliate of Tenant, and, as of the execution of the Eligible Sublease, has a net worth, computed in accordance with GAAP, equal to or greater than 30 times the sum of the annual Fixed Rent then payable hereunder and all of the Additional Charges payable for the preceding calendar year, in each case, allocable to the portion of the Premises that is the subject of the Eligible Sublease (without giving effect to any free rent or rent abatement), (B) demises the entire 37th Floor Premises and (D) has an initial sublease term (i.e., not including any renewals) that expires on the day immediately preceding the 37th Floor Expiration Date. Notwithstanding anything to the contrary herein contained, it is understood and agreed that Landlord shall have no obligation to deliver a Landlord’s Non-Disturbance Agreement during the continuance of any default which continues beyond applicable notice and cure periods.