Qualifying Manager definition
Qualifying Manager means either (a) a reputable and experienced management organization reasonably satisfactory to Lender, which organization or its principals possess at least ten (10) years experience in managing properties similar in size, scope and value of the Property and which, on the date Lender determines whether such management organization is a Qualifying Manager, manages at least one million square feet of retail space, provided that Borrower shall have obtained prior written confirmation from the Rating Agency that management of the Property by such entity will not cause a downgrading, withdrawal or qualification of the then current rating of the securities issued pursuant to the Securitization, or (b) the fee owner of the Property, provided that such owner possesses experience in managing and operating properties similar in size, scope and value of the Property. Lender acknowledges that on the Closing Date, Manager shall be deemed to be a Qualifying Manager.
Qualifying Manager means either (a) a reputable and experienced management organization reasonably satisfactory to Lender, which organization or its principals possess at least ten (10) years experience in managing properties similar in size, scope and value of the Property and which, on the date Lender determines whether such management organization is a Qualifying Manager, manages at least one million square feet of retail and/or office space, provided that Borrower shall have obtained prior written confirmation from the Rating Agency that management of the Property by such entity will not cause a downgrading, withdrawal or qualification of the then current rating of the securities issued pursuant to the Securitization, or (b) the fee owner of the Property, provided that such owner possesses experience in managing and operating properties similar in size, scope and value of the Property. Lender acknowledges that on the Closing Date, Manager shall be deemed to be a Qualifying Manager.
Qualifying Manager means (i) YSI Management LLC, a Delaware limited liability company or (ii) a reputable and experienced management organization possessing experience in managing properties similar in size, scope and value to the Property, provided that (a) prior to a Securitization, Borrower shall have obtained the prior written consent of Lender for such entity which consent shall not be unreasonably withheld and (b) after a Securitization, Borrower shall have obtained prior written confirmation from the Rating Agencies that management of the Property by such entity will not, in and of itself, cause a downgrade, withdrawal or qualification of the then current ratings of the Securities issued pursuant to the Securitization.
Examples of Qualifying Manager in a sentence
Lender agrees that its consent will not be unreasonably withheld, delayed or conditioned provided that the Person chosen by Borrower as the replacement Manager is a Qualifying Manager and provided further that Borrower shall deliver an acceptable non-consolidation opinion covering such replacement Manager if such Person was not covered by such opinion delivered at the closing of the Loan.
Lender agrees that its consent will not be unreasonably withheld, delayed or conditioned provided that the Person chosen by Borrower as the replacement Manager is a Qualifying Manager.
At such time as the Manager may be removed, a Qualifying Manager shall assume management of the applicable Individual Property pursuant to a Replacement Management Agreement.
Lender agrees that its consent will not be unreasonably withheld, delayed or conditioned provided that the Person chosen by Borrower as the replacement Manager is a Qualifying Manager and provided further that Borrower shall deliver an acceptable non- consolidation opinion covering such replacement Manager if any such opinion was delivered at the closing of the Loan and such Person was not covered by that opinion.
Upon any Manager Termination Event, Qualifying Manager Termination or if the Participant undergoes a Termination, this Award shall be treated in accordance with the Plan.
More Definitions of Qualifying Manager
Qualifying Manager means a reputable and experienced management organization reasonably satisfactory to Lender, which organization or its principals possess at least ten (10) years’ experience in managing properties similar in scope, size, use and value of the applicable Individual Property, provided that, if a Securitization has occurred, Borrower shall have obtained prior written confirmation from the Rating Agencies that management of such Individual Property by such entity will not cause a downgrading, withdrawal or qualification of the then current rating of the Securities issued pursuant to the Securitization or, if a Securitization has not occurred, Borrower shall have obtained the prior written consent of Lender. Lender acknowledges that on the Closing Date, Manager shall be deemed a Qualifying Manager.
Qualifying Manager means either (a) a reputable and experienced management organization reasonably satisfactory to Lender, which organization or its principals possess at least ten (10) years experience in managing properties similar in size, scope and value of the Property and which, on the date Lender determines whether such management organization is a Qualifying Manager, manages at least one million square feet of retail space, provided that Borrower shall have obtained prior written confirmation from the Rating Agency that management of the Property by such entity will not cause a downgrading, withdrawal or qualification of the then current rating of the securities issued pursuant to the Securitization, or (b) the fee owner of the Property, provided that such owner possesses experience in managing and operating properties similar in size, scope and value of the Property. Lender acknowledges that on the date hereof Inland Northwest Management Corp. shall be deemed to be a Qualifying Manager. Lender also acknowledges that a new property management company that is an affiliate of or under common control with Inland Northwest Management Corp. also shall be deemed a Qualifying Manager.
Qualifying Manager means an individual designated by a proprietary security organization to be responsible for compliance with the provisions of this part on behalf of such organization;
Qualifying Manager. As defined in Section 19(a) hereof.
Qualifying Manager means a reputable and experienced management organization reasonably satisfactory to Lender possessing experience in managing properties similar in size, scope and value of the Properties, provided that Borrower shall have obtained prior written confirmation from the Rating Agency that management of the Properties by such entity will not cause a downgrading, withdrawal or qualification of the then current rating of the securities issued pursuant to the Securitization.
Qualifying Manager means any Affiliate of Borrower or Guarantor or a reputable and experienced management organization possessing experience in managing properties similar in size, scope and value to the Property, provided that (a) prior to a Securitization, Borrower shall have obtained the prior written consent of Lender for such entity which consent shall not be unreasonably withheld and (b) after a Securitization, Borrower shall have obtained prior written confirmation from the Rating Agencies that management of the Property by such entity will not, in and of itself, cause a downgrade, withdrawal or qualification of the then current ratings of the Securities issued pursuant to the Securitization.
Qualifying Manager means either (a) a reputable and experienced management organization reasonably satisfactory to Lender, which organization or its principals possess at least ten (10) years experience in managing properties similar in size, scope and value of the Properties and which, on the date Lender determines whether such management organization is a Qualifying Manager, manages at least one million square feet of retail space, provided that a Borrower shall have obtained prior written confirmation from the Rating Agency that management of the applicable Property by such entity will not cause a downgrading, withdrawal or qualification of the then current rating of the securities issued pursuant to the Securitization, (b) the fee owner of the Property, provided that such owner possesses experience in managing and operating properties similar in size, scope and value of the Property, or (c) an organization whose principal business is the management of properties for Inland Western Retail Real Estate Trust, Inc., and which organization or its principals have at least ten (10) years experience managing properties similar in size, scope and value to the Property. Lender acknowledges that on the date hereof, Manager shall be deemed to be a Qualifying Manager.