Common use of Acceptable Ground Leases Clause in Contracts

Acceptable Ground Leases. Each of Parent and Borrower shall, and shall cause each other Loan Party to: (a) pay or cause to be paid all rents, additional rents, and other sums required to be paid by such Loan Party, as tenant under and pursuant to the provisions of each Acceptable Ground Lease; (b) diligently perform and observe all of the terms, covenants, and conditions of each Acceptable Ground Lease as tenant under such Acceptable Ground Lease; and (c) promptly notify Administrative Agent of (i) the giving to any Loan Party of any notice of any default by such Loan Party under any Acceptable Ground Lease and deliver to Administrative Agent a true copy of each such notice, and (ii) any bankruptcy, reorganization, or insolvency of the landlord under any Acceptable Ground Lease or of any notice thereof, and deliver to Administrative Agent a true copy of such notice;

Appears in 2 contracts

Samples: Credit Agreement (Rexford Industrial Realty, Inc.), Credit Agreement (Rexford Industrial Realty, Inc.)

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Acceptable Ground Leases. Each of Parent Borrower and Borrower shall, and shall cause each other Loan Party toshall: (a) pay or cause to be paid all rents, additional rents, and other sums required to be paid by such the applicable Loan Party, as tenant under and pursuant to the provisions of each Acceptable Ground Lease; (b) diligently perform and observe all of the material terms, covenants, and conditions of each Acceptable Ground Lease as tenant under such Acceptable Ground Lease; and (c) promptly notify Administrative Agent of (i) the giving to any Loan Party of any notice of any default by such Loan Party under any Acceptable Ground Lease and deliver to Administrative Agent a true copy of each such notice, and (ii) any bankruptcy, reorganization, or insolvency of the landlord under any Acceptable Ground Lease or of any notice thereof, and deliver to Administrative Agent a true copy of such notice;.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Clarion Partners Real Estate Income Fund Inc.), Revolving Credit Agreement (Clarion Partners Real Estate Income Fund Inc.)

Acceptable Ground Leases. Each of Parent and Borrower shall, and shall cause each other Loan Party to: (a) pay or cause to be paid all rents, additional rents, and other sums required to be paid by such the applicable Loan Party, as tenant under and pursuant to the provisions of each Acceptable Ground Lease; (b) diligently perform and observe in all material respects all of the terms, covenants, and conditions of each Acceptable Ground Lease as tenant under such Acceptable Ground Lease; and (c) promptly notify Administrative Agent of (i) the giving to any Loan Party of any notice of any default by such Loan Party under any Acceptable Ground Lease and deliver to Administrative Agent a true copy of each such notice, and (ii) any bankruptcy, reorganization, or insolvency of the landlord under any Acceptable Ground Lease or of any notice thereof, and deliver to Administrative Agent a true copy of such notice;

Appears in 2 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

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Acceptable Ground Leases. Each of Parent Parent, Borrower and Borrower shall, and shall cause each other Loan Party toshall: (a) pay or cause to be paid all rents, additional rents, and other sums required to be paid by such the applicable Loan Party, as tenant under and pursuant to the provisions of each Acceptable Ground Lease; (b) diligently perform and observe all of the material terms, covenants, and conditions of each Acceptable Ground Lease as tenant under such Acceptable Ground Lease; and (c) promptly notify Administrative Agent of (i) the giving to any Loan Party of any notice of any default by such Loan Party under any Acceptable Ground Lease and deliver to Administrative Agent a true copy of each such notice, and (ii) any bankruptcy, reorganization, or insolvency of the landlord under any Acceptable Ground Lease or of any notice thereof, and deliver to Administrative Agent a true copy of such notice;.

Appears in 1 contract

Samples: Revolving Credit Agreement (Clarion Partners Real Estate Income Fund Inc.)

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