Approval of Existing Lease. It is understood that Xxxxxxx’s execution and delivery of this Security Deed, together with Xxxxxxx’s disbursement of the proceeds of the Loan, shall constitute Xxxxxxx’s written consent to the terms of the Existing Lease, approval of the Tenant and an acknowledgment that the Existing Lease complies with the provisions of this Section and the other provisions of this Security Deed. As of the date of this Security Deed, the Property is subject to the Existing Lease which has been approved by Grantee and is the only Lease affecting the Property.
Appears in 3 contracts
Samples: Deed to Secure Debt (Cole Credit Property Trust III, Inc.), Deed to Secure Debt (Cole Credit Property Trust III, Inc.), Deed to Secure Debt (Cole Credit Property Trust III, Inc.)
Approval of Existing Lease. It is understood that Xxxxxxx’s execution and delivery of this Security DeedDeed of Trust, together with XxxxxxxXxxxxx’s disbursement of the proceeds of the Loan, shall constitute XxxxxxxLender’s written consent to the terms of the Existing Lease, approval of the Tenant and an acknowledgment that the Existing Lease complies with the provisions of this Section and the other provisions of this Security DeedDeed of Trust. As of the date of this Security DeedDeed of Trust, the Property is subject to the Existing Lease which has been approved by Grantee Lender and is the only Lease affecting the Property.
Appears in 2 contracts
Samples: Deed of Trust (Cole Credit Property Trust III, Inc.), Deed of Trust, Absolute Assignment of Rents and Leases and Security Agreement (Cole Credit Property Trust III, Inc.)
