Administration of Leases. The Manager shall, on behalf of the Owners (i) maintain a database of the Leases indicating, for each Lease, the amount of all payments due from the Tenant thereunder, the dates on which such payments are due and, in the case of a Managed Site, the amount of all payments due to or from the counterparty under the relevant Site Management Agreement, (ii) invoice all rent and other amounts due under the Leases and use commercially reasonable efforts to collect such rent and other amounts, (iii) perform all services required to be performed by the Owners under the terms of the Leases and the Site Management Agreements and (iv) otherwise use commercially reasonable efforts to ensure compliance on the part of the Tenants and the Owners with the terms of each Lease and Site Management Agreement, all in accordance with the Operation Standards. Each Owner hereby authorizes the Manager to take any action the Manager deems to be necessary or appropriate to enforce the terms of each Lease and Site Management Agreement in accordance with the Operation Standards, including the right to exercise (or not to exercise) any right such Owner may have to collect rent and other amounts due under the Leases (whether through judicial proceedings or otherwise), to terminate any Lease and/or to evict any Tenant. The Manager shall also have the right, in accordance with the Operation Standards, to compromise, settle, and otherwise resolve claims and disputes with regard to Leases and Site Management Agreements. The Manager may agree to any modification, waiver or amendment of any term of, forgive any payment on, and permit the release of any Tenant on, any Lease pertaining to the Sites as it may determine to be necessary or appropriate in accordance with the Operation Standards.
Administration of Leases. (a) Servicer shall do, and shall have full power and authority to do, subject only to the specific requirements and prohibitions of this Agreement, any and all things in connection with the servicing and administration of the Leases and the interests in the Equipment which are consistent with the Servicing Standard, but in performing its duties hereunder, Servicer will act on behalf and for the benefit of Issuer (and to the extent provided herein) Indenture Trustee, subject at all times to the provisions of the Indenture, without regard to any relationship which Servicer or any Affiliate of Servicer may otherwise have with a Lessee. Servicer shall at all times act in accordance with the provisions of each Lease, and shall observe and comply with all requirements of law applicable to it. Except as permitted by the terms of any Lease following a default thereunder, Servicer shall not take any action which would result in the interference with Lessee's right to quiet enjoyment of the Equipment subject to the Lease during the term thereof. Servicer shall exercise with respect to each item of Equipment all rights and remedies it, Issuer or Indenture Trustee shall have against any vendor of the Equipment, subject to the provisions of any Lease, and shall deposit all amounts realized from such actions into the Collection Account.
Administration of Leases. The Manager shall, on behalf of the Owner (i) maintain a database of the Leases indicating, for each Lease, the amount of all payments due from the Tenant thereunder, the dates on which such payments are due and, (ii) use commercially reasonable efforts to collect all rent and other amounts due under the Leases, which efforts shall include invoicing such rent and other amounts and managing delinquencies and defaults in connection therewith, (iii) perform all services and duties required to be performed by the Owner under the terms of the Leases and (iv) otherwise use commercially reasonable efforts to ensure compliance on the part of the Tenants and the Owner with the terms of each Lease, all in accordance with the Operation Standards. The Owner hereby authorizes the Manager to take any action the Manager deems to be necessary or appropriate to enforce the terms of each Lease in accordance with the Operation Standards, including the right to exercise (or not to exercise) any right such Owner may have to collect rent and other amounts due under the Leases (whether through judicial proceedings or otherwise), to terminate any Lease and/or to evict any Tenant. The Manager shall also have the right, in accordance with the Operation Standards, to compromise, settle, and otherwise resolve claims and disputes with regard to Leases. The Manager may agree to any modification, waiver or amendment of any term of, forgive any payment on, and permit the release of any Tenant on, any Lease pertaining to the Tower Sites as it may determine to be necessary or appropriate in accordance with the Operation Standards.
Administration of Leases. To administer all present and future leases for the Premises including, but not limited to, the calculation and billing of all rents, pass-throughs, CPT adjustments and "true-up" reconciliations.
Administration of Leases. Seller shall immediately deliver to Purchaser a copy of any correspondence received from any Tenant regarding any claims of default or requests for action by Seller or Seller’s property manager or other non-routine communication with respect to its Lease or premises, or from any tenant prospect or its broker with respect to any vacant space in the Property. Seller shall not enter into any new leases or amendments to any current Lease nor waive performance of any Tenant’s obligations under its Lease without Purchaser’s written consent, which consent shall not be unreasonably withheld, conditioned or delayed during the Due Diligence Period, but after the expiration of the Due Diligence Period, in Purchaser’s sole discretion. Purchaser shall notify Seller in writing of its disapproval with an explanation of its objections thereto set forth in reasonable detail within 5 Business Days of Purchaser’s receipt of a copy of the proposed lease or Lease modification, or Purchaser shall be deemed to have approved the same during the Due Diligence Period, but after the expiration of the Due Diligence Period such proposed lease or Lease modification shall be deemed disapproved.
Administration of Leases
