New Leases. Continue its present rental program and efforts at such Seller’s Property to rent vacant space in accordance with past practices; provided that, without the prior written consent of the Buyer, which consent may be granted or withheld in the Buyer’s sole discretion, such Seller shall not (i) execute any new lease, license or other occupancy agreement, (ii) amend, supplement, terminate, accept the surrender of, renew or otherwise modify any existing Lease, (iii) approve any assignment or sublease of any existing Lease, or (iv) waive any right or obligation thereunder; provided, however, that, in the case of any amendment, supplement, termination, surrender, renewal or modification of any existing Lease as set forth in clause (ii) above, if such existing Lease expressly and specifically sets forth the terms of any such amendment, supplement, termination, surrender, renewal or modification and requires the landlord under the Lease to acknowledge or counter-sign the same, in which case, the Buyer’s consent shall not be required, but Seller shall provide the Buyer with written notice of (and to the extent such amendment, supplement or modification modifies the rental terms of such Lease which rental amount is not specifically stated in such Lease, the Buyer shall have an opportunity to review and comment upon) such amendment, supplement, termination, surrender, renewal or modification at least five (5) Business Days prior to the date of execution. If such Seller enters into any new lease, license or other occupancy agreement, or renews any existing Lease (each such new lease, license, occupancy agreement and renewal, a “New Lease”) after the date hereof in accordance with the terms of this Section 3.2(d), then each such lease, license, occupancy agreement and renewal shall be included in the definition of “Leases” herein and added to Schedule 3.2(c) attached hereto, shall be assigned to and assumed by the Buyer at the Closing in accordance with this Agreement. If the Buyer does not reject or approve a new lease, license, occupancy agreement, renewal or a Lease amendment within five (5) Business Days after receipt of a copy thereof, then the Buyer shall be deemed to have approved such new lease, license, occupancy agreement, renewal or Lease amendment; provided that such notice includes specific reference to this Section 3.3(d) and the deemed approval provision hereof.
New Leases. On or before ten (10) business days prior to the expiration of the Inspection Period, Seller may execute any new lease or modify or renew any existing lease affecting the Property without Purchaser's consent. Seller shall deliver a copy of any such new lease or existing lease modification or renewal (together with an estimation of the "New Lease Costs" (as hereinafter defined)), as applicable, to Purchaser within ten (10) business days of execution by Seller and the new tenant or existing tenant, as applicable, but in any event on or before ten (10) business days prior to the expiration of the Inspection Period. In the event Purchaser disapproves of such new lease or existing lease modification or renewal, Purchaser's sole remedy shall be to terminate this Agreement in accordance with Paragraph 7 hereof. In the event that Purchaser does not terminate this Agreement as aforesaid, Purchaser shall be responsible for the costs of all tenant improvements and leasing commissions associated with the negotiation and execution of any such new lease or existing lease modification or renewal ("New Lease Costs") and Purchaser shall assume all such obligations at the Closing. Seller shall receive a credit at Closing for any New Lease Cost incurred by Seller prior to Closing. After the date ten (10) business days prior to the expiration of the Inspection Period, Seller shall not execute any new lease or existing lease modification or renewal affecting the Property without Purchaser's prior written consent. Purchaser's consent shall be deemed given if Purchaser has not responded to the contrary within ten (10) business days after Seller's written request and Purchaser's receipt of such new lease or existing lease modification or renewal (together with an estimation of the New Lease Costs). If approved by Purchaser, a complete copy of any such new lease or existing lease modification or renewal shall be delivered to Purchaser within ten (10) days of the full execution thereof. All New Lease Costs shall be paid by Purchaser and Purchaser shall assume all such obligations at the Closing and Seller shall receive a credit at Closing for any New Lease Costs incurred by Seller prior to Closing. Purchaser acknowledges that there currently exists the unsatisfied tenant improvement obligations and leasing commissions set forth on Exhibit N attached hereto. Seller agrees to pay the unsatisfied leasing commission obligations and tenant improvement obligations set forth on Exhibit N ...
New Leases. Continue its present rental program and efforts at such Seller’s Property to rent vacant space in accordance with past practices; provided that, without the prior written consent of the Buyer, which consent may be granted or withheld in the Buyer’s sole discretion, such Seller shall not (i) execute any new lease, license or other occupancy agreement, (ii) amend, supplement, terminate, accept the surrender of, renew or otherwise modify any existing Lease, (iii) approve any assignment or sublease of any existing Lease, or
New Leases. Notwithstanding anything contained in this Contract to the contrary, Purchaser shall be responsible for the costs of all tenant improvement expenses and leasing commissions payable or attributable to any new Tenant Leases entered into by Seller after June 1, 1998 and prior to the Closing Date; provided, that such new Tenant Leases have been delivered by Seller to Purchaser for Purchaser's approval and Purchaser has approved of such new Tenant Leases, which approval shall not be unreasonably withheld, conditioned or delayed, and which shall be deemed approved if Purchaser has not notified Seller of its rejection of such new Tenant Lease within three (3) business days after receipt of a request for approval of such new Tenant Lease from Seller (which request shall be accompanied by a copy of the Tenant Lease in question and the amount of any leasing commissions relating thereto). In the event that Seller has paid any of such expenses and/or leasing commissions prior to Closing, Purchaser shall reimburse Seller at Closing for the amount of any such expenses and/or leasing commissions paid by Seller and, in the event Seller has not paid such expenses and/or leasing commissions prior to Closing, Purchaser shall be responsible for payment of all such expenses and/or leasing commissions after Closing.
New Leases. Seller agrees to deliver to Purchaser five (5) days prior to the expiration of the Inspection Period any new leases executed by Seller. After the expiration of the Inspection Period, Seller shall not execute any new lease affecting the Property or modify, amend or accept the surrender (collectively or individually a "Modification Agreement") of any of the Leases without Purchaser's prior written consent. Upon requesting Purchaser's consent, Seller shall deliver a complete copy of said proposed lease to Purchaser with a copy of any brokerage commission agreement and statement as to the cost of any tenant improvement work, contributions, and brokerage commissions due or to become due in connection therewith (the "Disclosure Documents"). Purchaser's consent shall be deemed given if Purchaser has not responded to the contrary within five (5) business days after receipt of Seller's written request and the complete copy of said lease or Modification Agreement and other material. If approved by Purchaser, a complete copy of any such lease or Modification Agreement shall be delivered to Purchaser within five (5) days of the full execution thereof. With respect to all new leases or Modification Agreement executed and delivered to Purchaser five (5) days prior to the expiration of the Inspection Period and with respect to all other new leases or Modification Agreement, provided Purchaser has approved the new lease to the extent said approval is required, leasing costs and commissions, tenant improvements and contributions, and reasonable attorneys' fees, shall be paid by Purchaser or credited to Seller at Closing if already paid by Seller provided such costs and expenses were specifically disclosed to Purchaser in the Disclosure Documents.
New Leases. After the date hereof, Seller shall not, without Buyer's prior written consent in each instance, which consent shall not be unreasonably withheld and shall be given or denied, with the reasons for such denial specified in reasonable detail, within ten (10) business days after receipt by Buyer of the information referred to in the next sentence, enter into a new lease, license or occupancy agreement for space in the Property (except any lease with a prospective tenant and on the terms described on Exhibit K-2 attached hereto, herein collectively called "Prospective Tenants") or renew or extend any Lease (except pursuant to the exercise by a tenant of a renewal, extension or expansion option contained in such tenant's Lease which does not require landlord approval). Seller shall furnish Buyer with all information regarding any such proposed action reasonably necessary to enable Buyer to make informed decisions with respect to the advisability of the proposed action (including without limitation a copy of the lease proposal and an itemized list specifying all Lease Expenses, including the estimated amount thereof, incurred or to be incurred in connection therewith). If Buyer fails to object in writing to any such proposed action within ten (10) business days after receipt of the aforementioned information, Buyer shall be deemed to have approved the proposed action. The foregoing notwithstanding, prior to expiration of the Due Diligence Period, if Buyer rejects any such proposed action, Seller shall nevertheless retain full right, power and authority to execute all documents necessary to effect such action (in which event Seller shall promptly advise Buyer of same), but Seller shall also retain the obligation to pay Lease Expenses (as hereinafter defined) arising solely as a result of such
New Leases. If during the term of this Agreement a new Lease is entered into by Owner for space in any of the Projects which is fully executed and delivered by all parties thereto in accordance with the terms of the Lease, then (except as otherwise provided in Section 9(a)(ii) below), Owner shall pay Manager a Commission in accordance with the attached schedule of rates and conditions set forth in Schedule 3 attached hereto (the terms of which are hereby incorporated) on the date on which the following conditions (the “Leasing Conditions”) have been satisfied or waived: (a) a Lease for space in the Projects shall be fully executed by Owner and a Tenant and all other necessary transactional documents shall be executed by all applicable parties, and such Lease and documents shall have been unconditionally delivered by all parties thereto (including, without limitation, delivery of any and all required consents, approvals and releases from, or non-disturbance agreements with, the holders of superior Leases and superior mortgages or any other party as set forth in the applicable Lease unless the Lease term commences in the absence of any of the foregoing); (b) Tenant shall have deposited with Owner such security as may be required (both in form and amount) under the terms of the executed Lease; (c) Tenant shall have paid to Owner all rental payments due and other sums then due and owing unless Owner has waived, in writing, the payment of the same or agreed, in writing to accept payment thereof at a later date; and (d) Tenant shall have taken possession of the applicable premises and commenced paying Rent (other than Rent paid at the time of execution of the Lease). Without limitation, each of the following shall be deemed a new Lease for purposes of this Agreement and Manager shall be entitled to Commissions thereon in accordance with the rates and conditions set forth in Schedule 3 attached hereto:
New Leases provide regular market assessments; coordinate the development of comprehensive leasing and marketing plans; hire and terminate listing brokers for the Property; coordinate listing brokers and tenant brokers; provide leasing benchmarks and analysis of new deals; negotiate, document and execute leases; coordinate and implement the development of space plans; and produce related monthly reports and participate in meetings.
New Leases. If the Mortgaged Lease shall be terminated prior to the natural expiration of its term due to default by Grantor or any tenant thereunder, and if, pursuant to the provisions of the Mortgaged Lease, Beneficiary or its designee shall acquire from the lessor a new lease of the premises subject to the Mortgaged Lease, Grantor shall have no right, title or interest in or to such new lease or the leasehold estate created thereby, or renewal privileges therein contained.
New Leases. None of the Borrowers will, nor will any Borrower permit any Subsidiary to, enter into any Capital Lease, except as permitted below or as otherwise permitted under Sections 5-7 and 5-10. From and after the Closing Date, none of the Borrowers will, and none of the Borrowers will permit any Subsidiary to, enter into any new lease during any fiscal year (including any new Capital Leases, but excluding renewals of any existing leases) as lessee if, immediately after giving effect thereto, the aggregate rental obligations (excluding payments required to be made by the lessee in respect of taxes and insurance whether or not denominated as rent, and excluding payments incurred in connection with a renewal of any existing lease) of all of the Borrowers and their respective Subsidiaries under all such leases entered into during such fiscal year after the Closing Date shall exceed $2,000,000 in the aggregate in such fiscal year; provided, however, that to the extent rental obligations under any lease are reimbursable by such Borrower's customer pursuant to a binding contract between such Borrower and such customer, such rental obligations shall be excluded from the foregoing provision of this sentence. Upon the reasonable request of the Administrative Agent, the Lead Borrower will obtain a landlord's waiver reasonably acceptable to the Administrative Agent on any existing or new leased location occupied by any Borrower.
