Permitted Tenant Successor definition

Permitted Tenant Successor. Any entity into which Tenant may be converted or with which it may merge, or to any entity purchasing all or substantially all of Tenant’s assets.
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Permitted Tenant Successor shall have the meaning given in Section 14.1 hereof.
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Permitted Tenant Successor means any successor to Tenant by merger, consolidation, or other form of corporate reorganization, and any successor to Tenant by the purchase of all, or substantially all, of Tenant’s assets, “Affiliate” shall mean an entity controlled by, controlling, or under common control with Tenant. “Permitted Transferee” shall mean any Permitted Tenant Successor or Affiliate. The “Credit Requirement” shall be deemed satisfied if, as of the date immediately following the date of the Transfer, the Permitted Tenant Successor has a net worth at least equal to the net worth of Tenant immediately prior to such Transfer.
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Examples of Permitted Tenant Successor in a sentence

  • Except in the case of a statutory merger, in which case the surviving entity in the merger shall be liable under this Lease, Tenant shall continue to remain fully liable under this Lease, on a joint and several basis with the Tenant Affiliate or Permitted Tenant Successor.

  • The signage rights under this Section 16.32 are personal to the original Tenant hereunder and may not be assigned (except in connection with an assignment to a Permitted Tenant Successor pursuant to Section 11.2 above), including in connection with any subleasing by Tenant.

  • Any Permitted Tenant Successor which satisfies the requirements of Article 16C and any Affiliated Entity which satisfies the requirements of Article 16D is sometimes hereinafter referred to as “Permitted Transferee”.

  • Such notice (a "Termination Notice") shall be deemed an offer from Tenant to Landlord whereby Landlord may, at its option, (A) with respect to an assignment of this Lease or a sublease of all or substantially all of the Premises for the remainder of the Term only (but not with respect to any Sublease to a Permitted Tenant Successor), terminate this Lease, or (B) accept or reject the proposed Sublease.

  • The Extension Right is personal to Tenant and any assignee of this Lease (but not a subtenant) under a Permitted Transfer and, other than to any such assignee under a Permitted Tenant Successor resulting from a Permitted Transfer, and, other than to any such assignee under a Permitted Transfer , is not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in this Lease.

  • The right to the Monument Signage may be transferred (x) to a Tenant Affiliate or Permitted Tenant Successor under Section 12.2 below and (y) subject to Landlord’s reasonable approval, to any other approved assignee or subtenant, but no more than one (1) time during the Lease Term.

  • The foregoing First Offer Right to lease the Expansion Space is personal to the original Tenant signing the Lease, but may not be assigned or transferred to or exercised by any assignee, sublessee or transferee under an assignment or sublease (unless such assignee, sublessee or transferee is a Permitted Tenant Successor or a Tenant Affiliate).

  • A "Permitted Tenant Successor" shall be defined as an entity which succeeds to Tenant's business by merger, consolidation, sale of all or substantially all of Tenant's stock or assets, or other form of corporate reorganization.

  • Tenant shall have no right to assign or sublet the Antenna Area, except that permitted assignees or subtenants under Article 16 of the Lease shall be permitted to use the Antenna Area, provided that such assignees and subtenants (other than an Affiliate of Tenant and/or a Permitted Tenant Successor) pay to Landlord directly a rental equal to the market rate then being charged by Landlord for use of rooftop areas for similar use in the Market Area.

  • In the event of an assignment of this Lease to anyone other than an Affiliate of Tenant or Permitted Tenant Successor, Tenant shall pay to Landlord twenty-five percent (25%) percent of any Net Sublease Profits (as defined below), payable in accordance with the following.


More Definitions of Permitted Tenant Successor

Permitted Tenant Successor means (A) any Permitted Transferee and/or (B) the Transferee of any Transfer requiring Landlord’s prior consent in accordance with Section 10 as to which such Landlord’s consent is obtained.
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Related to Permitted Tenant Successor

  • Permitted Successor is defined in Section 5.02 of the Sale Agreement.

  • Qualified Successor means a person who is entitled to ownership of an Option upon the death of an Optionee, pursuant to a will or the applicable laws of descent and distribution upon death;

  • Permitted Assignment means a Permitted Subsidiary Assignment or a Permitted Third-Party Assignment.

  • Permitted Transfer has the meaning set forth in Section 10.02.

  • Tenant Affiliate means and refer to any partnership, limited liability company, or corporation or other entity, which, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, Tenant.

  • Permitted Transferee Any Transferee of a Residual Certificate other than a Disqualified Organization or Non-United States Person.

  • Permitted Assignee means (a) with respect to a partnership, its partners or former partners in accordance with their partnership interests, (b) with respect to a corporation, its stockholders in accordance with their interest in the corporation, (c) with respect to a limited liability company, its members or former members in accordance with their interest in the limited liability company, (d) with respect to an individual party, any Family Member of such party, (e) an entity that is controlled by, controls, or is under common control with a transferor, or (f) a party to this Agreement.

  • Qualified Tenants means any tenants who have incomes of 60% or less of the area median gross income, as adjusted for family size, so as to make the Project eligible for LIHTC.

  • Permitted Assign means, for a person that is an employee, executive officer, director or consultant of an issuer or of a related entity of the issuer,

  • Permitted Sublessee means the sublessee under a Permitted Sublease.

  • Permitted Sublease means a sublease permitted under Section 7.2.7 of the Lease.

  • Non-Permitted Transferee A Person other than a Permitted Transferee.

  • Permitted Transfers has the meaning set forth in Section 4.2.17(d).

  • Permitted Assigns means a Transferee of shares of Common Stock that agrees to become party to, and to be bound to the same extent as its Transferor by the terms of, this Agreement.

  • Successor Landlord shall have the meaning given such term in Section 20.2.

  • Qualified Tenant means a tenant (i) with income not exceeding that permitted by the Minimum Set-Aside Test who leases a Low-Income Apartment Unit in the Project under a lease having an original term of not less than 6 months at a rent which satisfies the Rent Restriction Test and (ii) complying with any other requirements imposed by the Project Documents.

  • Approved Transferee means (a) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more, (b) an affiliate of the Funding Lender, or (c) a trust or custodial arrangement established by the Funding Lender or one of its affiliates the beneficial interests in which will be owned only by QIBs.

  • Permitted Trust means a bona fide trust where each trustee is (i) a Qualified Stockholder, (ii) a Family Member, or (iii) a professional in the business of providing trustee services, including private professional fiduciaries, trust companies and bank trust departments.

  • Permitted Affiliate means with respect to any Person (a) any Person that directly or indirectly controls such Person, and (b) any Person which is controlled by or is under common control with such controlling Person. As used in this definition, the term “control” of a Person means the possession, directly or indirectly, of the power to vote eighty percent (80%) or more of any class of voting securities of such Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  • Permitted Designee means (i) a spouse or a child of a Permitted Holder, (ii) trusts for the benefit of a Permitted Holder or a spouse or child of a Permitted Holder, (iii) in the event of the death or incompetence of a Permitted Holder, his estate, heirs, executor, administrator, committee or other personal representative or (iv) any Person so long as a Permitted Holder owns at least 50% of the voting power of all classes of the voting stock of such Person.

  • Successor Operator means a Train Operator succeeding or intended by the Secretary of State to succeed (and whose identity is notified to the Franchisee by the Secretary of State) the Franchisee in the provision or operation of all or any of the Franchise Services including, where the context so admits, the Franchisee where it is to continue to provide or operate the Franchise Services following termination of the Franchise Agreement;

  • Permitted Assignees means: (a) Agent, any Lender or any of their direct or indirect Affiliates; and (b) any fund that is administered or managed by Agent or any Lender, an Affiliate of Agent or any Lender or a related entity.

  • Business Successor means (i) any former Subsidiary of the Company and (ii) any Person that, after the Issue Date, has acquired, merged or consolidated with a Subsidiary of the Company (that results in such Subsidiary ceasing to be a Subsidiary of the Company), or acquired (in one transaction or a series of transactions) all or substantially all of the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or division of a Subsidiary of the Company.

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • Wholly Owned Domestic Subsidiary means a Wholly Owned Subsidiary that is also a Domestic Subsidiary.