Good Standing

Good Standing. Means that all of the following are met with respect to any Customer: the Property Management Agreement with such Customer is in full force and effect; Customer has not materially breached the Property Management Agreement; Customer is current in the payment of all amounts due to the Company and its Affiliates, provided that any minor discrepancies and disputes over amounts not exceeding 5% of the total due shall not affect the Customer's status; and there are no other unresolved dispute(s) of... a material nature between the Company or its Affiliates and the Customer under the Property Management Agreement. View More

Good Standing. Shall have the following meaning: Tenant shall be deemed to be in "Good Standing" if, as of a given point in time: (a) there exists no Event of Default; (b) this Lease is in full force and effect, (c) the Tenant shall not have assigned this Lease other than as an Affiliated Assignment as hereinafter defined, and there shall not then be in effect any sublease or subleases other than an Affiliate Transfer either (i) with respect to more than thirty-three percent (33%) of the original Premises or... (ii) having a term of more than three (3) years, (d) there is no Material Adverse Change in the financial status of Tenant, and (e) not more than two cured and/or uncured Events of Default of a material nature shall have occurred during any twelve (12) month period during the Term of this Lease (any of which conditions described in clauses (a), (b), (c), (d) and (e) may be waived by the Landlord in writing at any time in Landlord's sole discretion). For purposes of this paragraph, a Material Adverse Change in the financial status of Tenant shall be deemed to have occurred in the event of the following: (i) with respect to the First Expansion Space provided for under Section 2.7 hereunder, the Losses shown on Tenant's financial statements for calendar year 1999 shall show no less than a twenty-five percent (251/6) reduction from the losses shown in Tenant's 1998 financial statements, and, similarly, the losses for Tenant in its financials for calendar year 2000 shall show no less than a twenty five percent (25%) reduction from the losses show in Tenant's 1999 financial statements; (ii) with respect to the Second Expansion Space provided for under Section 2.7 hereunder, the requirements of clause (i) of this sentence shall be satisfied and the Tenant shall have received during calendar year 2000 a capital infusion of no less than ten (10) million dollars ($10,000,000.00); and(iii) with respect to the First Offer Space provided for under Section 2.8 hereof and the Extension 3 7 Option provided for under Section 2.5 hereof, the requirements of clauses (i) and (ii) of this sentence must be satisfied if Tenant is seeking to exercise its First Offer rights prior to January 1, 2001, and otherwise as to the First Offer Space and Extension Option Tenant must maintain a net worth of no less than fifteen million dollars ($15,000,000.00) for the fiscal years ending December 31, 2000 and 2001 and of no less than twenty-five million dollars ($25,000,000.00) at all times after December 31, 2001 and the Tenant must be "profitable" for each of its fiscal years commencing as of January 1, 2001 as evidenced by its audited financial statements prepared consistently with generally accepted accounting practices. View More

Good Standing. A Participant who has received a performance rating of a 3 (Good Performer) or better for each year of the Performance Period and who remains employed at the same level in the same or a similar role throughout the Performance Period.

Good Standing. Means that Executive remains actively employed and (i) has not been given notice of the termination of employment; (ii) has not given notice of resignation or resigned; (iii) is not suspended by the Company for violation of its material policies and/or procedures and (iv) is not under investigation for conduct that could, in the Company's good faith determination, result in a suspension or termination for Cause.