Eligible Subtenant definition

Eligible Subtenant as defined in Section 14.13(a).
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Eligible Subtenant means a Person who or which is not an Affiliate of Tenant, and has a financial condition reasonably satisfactory to Landlord taking into account the obligations in question. 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 Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).
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Examples of Eligible Subtenant in a sentence

  • Following the Eligible Subtenant’s and Tenant’s execution and delivery of the Landlord’s Non-Disturbance Agreement, Landlord shall, within thirty (30) days, execute and deliver a counterpart thereof to the Eligible Subtenant.

  • Said proposed subtenant shall be deemed an Eligible Subtenant unless Landlord notifies Tenant to the contrary within fourteen (14) days after receipt of such request so long as such request expressly and conspicuously recites the effect of Landlord's failure to respond thereto as aforesaid.

  • Landlord shall, whenever requested in writing by Tenant with respect to a prospective subletting, advise Tenant as to whether the proposed subtenant is an Eligible Subtenant.

  • For purposes hereof, an "Eligible Subtenant" shall be a tenant, subtenant or occupant occupying space in the Building at such time as Landlord is not able to deliver to such tenant, subtenant or occupant, for a period beginning on or before or within six (6) months after the date on which the term of the proposed subletting would commence and continuing through the date on which said term would end, space elsewhere in the Building comparable in size to the proposed sublet area.