Unaffiliated Qualified Manager means a property manager of the Property that is not an Affiliate of Borrower and that (A) is a reputable, nationally or regionally recognized management company having at least five (5) years’ experience in the management of similar Class “A” office properties, (B) at the time of its engagement as property manager has under management leasable square footage of the same property type as the Property located in major metropolitan markets in the United States equal to or greater than 5,000,000 leasable square feet of office space (excluding the Property) and (C) is not the subject of a bankruptcy or similar insolvency proceeding.
Unaffiliated Qualified Manager shall have the meaning set forth in the Mortgage Loan Agreement.
Unaffiliated Qualified Manager means an unaffiliated property manager of the Property that (A) is a reputable, nationally or regionally recognized management company having at least five (5) years’ experience in the management of properties that are similar to the Property as to quality, location and type, (B) at the time of its engagement as property manager has (x) leasable square footage of the same property type as the Property equal to the lesser of 2,000,000 leasable square feet in the aggregate and five (5) times the leasable square feet of the Property and (y) managed at least ten (10) properties that are similar to the Property as to quality, location and type and used as industrial facilities and (C) is not the subject of a bankruptcy or similar insolvency proceeding.
Examples of Unaffiliated Qualified Manager in a sentence
Notwithstanding the foregoing, however, provided no Event of Default is continuing, the approval of Lender and the Rating Agencies shall not be required with respect to the appointment of an Unaffiliated Qualified Manager.
More Definitions of Unaffiliated Qualified Manager
Unaffiliated Qualified Manager means an unaffiliated property manager of the Property that (A) is a reputable, nationally or regionally recognized management company having at least five (5) years’ experience in the management of similar type properties, (B) at the time of its engagement as property manager manages not less than two thousand five hundred (2,500) apartment units of similar quality to the Property (“Comparable Units”) in the State and an aggregate of not less than ten thousand (10,000) Comparable Units and (C) is not the subject of a bankruptcy or similar insolvency proceeding.
Unaffiliated Qualified Manager means a property manager that (A) is a management company having at least five (5) years’ experience in the management of Class A office properties in New York City or similar metropolitan areas, (B) at the time of its engagement as property manager has under management leasable square footage equal to or greater than 5,000,000 leasable square feet (excluding the Property) of office space and (C) is not the subject of a bankruptcy or similar insolvency proceeding.
Unaffiliated Qualified Manager means, with respect to any Individual Property, an unaffiliated property manager of such Individual Property that (A) is a reputable management company that is regionally recognized in each region where such Individual Property to be managed by such management company is located and which has at least five (5) years’ experience in the management of properties similar to such Individual Properties to be managed by such management company, (B) at the time of its engagement as property manager (1) in the case of an Individual Property that is a Medical Office Building, such management company owns and/or manages office buildings (exclusive of the Properties) having in the aggregate not less than 5,000,000 leaseable square feet and (2) in the case of an Individual Property that is a Non-MOB Facility, such management company owns and/or manages the greater of (i) five (5) properties similar in type to the Properties to be managed by such management company (exclusive of the Properties managed (or to be managed) by such management company) and (ii) thirty-three and one-third percent (33.3%) of the aggregate properties to be managed by such management company similar in type to the Properties to be managed by such management company (exclusive of the Properties managed (or to be managed) by such management company) and (C) has not been convicted of, or been indicted for a felony criminal offense, has not been adjudicated guilty of fraud, racketeering or moral turpitude in connection with a governmental investigation and has not been subject to a bankruptcy or insolvency action against it.
Unaffiliated Qualified Manager means the entity set forth on Schedule XII attached hereto, so long as, at the time of its engagement as a property manager (i) there is no material adverse change in such entity’s reputation as a reputable, nationally or regionally recognized management company and (ii) such entity is not the subject of a bankruptcy or similar insolvency proceeding.
Unaffiliated Qualified Manager means a property manager of the Property and the Worldwide Plaza Amenities that (A) is a reputable nationally recognized management company having at least five (5) years’ experience in the management of similar type, size and quality properties as the Property, (B) at the time of its engagement as property manager is managing at least five (5) buildings that are comparable to the Property and manages properties with leasable square footage of the same type, size and quality as the Property at least equal to the lesser of 5,000,000 leasable square feet and five (5) times the leasable square feet of the Property and (C) is not the subject of a bankruptcy or similar insolvency proceeding.
Unaffiliated Qualified Manager means a property manager of the Property that is not an Affiliate of Borrower and that (A) is a reputable, nationally or regionally recognized management company having at least five (5) years’ experience in the management of similar Class “A” office properties, (B) at the time of its engagement as property manager has under management leasable square footage of the same property type as the Property located in major xxxxxxxxxxxx xxxxxxx xx xxx Xxxxxx Xxxxxx equal to or greater than 5,000,000 leasable square feet of office space (excluding the Property) and (C) is not the subject of a bankruptcy or similar insolvency proceeding.
Unaffiliated Qualified Manager means a property manager that (A) is a management company having at least five (5) years’ experience in the management of Class A office properties in New York City or similar metropolitan areas, (B) at the time of its engagement as property manager has under management leasable square footage equal to or greater than 5,000,000 leasable