APPROVAL OF LEASES. All leases of all or any part of the Property shall: (a) be upon terms and with tenants approved by Lender prior to Borrower’s execution of any such lease; and (b) include estoppel, subordination, attornment and mortgagee protection provisions satisfactory to Lender. All standard lease forms and any material deviation from any form, shall be approved by Lender prior to execution of any lease using such form.
APPROVAL OF LEASES. Subject to the provisions of Section 5.9.3 and the last sentence of this Section 5.9.2, Borrower shall not (a) enter into a proposed Lease or a proposed renewal, extension or modification of a Lease (other than a modification of a Lease which does not modify the rights or obligations of the landlord thereunder) (b) permit Property Owner to enter into or consent to Property Owner entering into a proposed Sublease or a proposed renewal, extension or modification of a Sublease or (c) enter into any subordination non-disturbance and attornment agreement (an “SNDA”) with any subtenant under a Sublease, without, in each instance, the prior written consent of Lender, which consent shall not, so long as no Event of Default is continuing (but subject to the last sentence of Section 5.9.4), be unreasonably withheld or delayed. Prior to seeking Lender’s consent to any Lease, Sublease or SNDA, Borrower shall deliver to Lender a copy of such proposed lease, sublease or SNDA blacklined to show changes from the standard form of Lease, Sublease or SNDA approved by Lender and then being used by Borrower. Provided that no Event of Default is continuing, if (i) Borrower provides Lender with a written request for approval of a proposed Lease, a proposed Sublease, a proposed renewal, extension or modification of a Lease or a Sublease or a proposed SNDA (which written request shall specifically refer to this Section 5.9.2), (ii) Lender fails to approve or disapprove of the proposed Lease, proposed Sublease, proposed renewal, extension or modification of a Lease or Sublease or proposed SNDA, as applicable, within ten (10) Business Days after receipt by Lender of the request, (iii) Borrower provides Lender with a second written request for approval of such proposed Lease, proposed Sublease, such proposed renewal, extension or modification of a Lease or a Sublease, or proposed SNDA, as applicable, after the expiration of the ten (10) Business Day period (which second written request shall specifically refer to this Section 5.9.2) and shall explicitly state that failure by Lender to approve or disapprove within five (5) Business Days will constitute a deemed approval) and (iv) Lender fails to reject the request in writing delivered to Borrower within five (5) Business Days after receipt by Lender of such second written request, the proposed Lease, proposed Sublease, proposed renewal, extension or modification of a Lease or a Sublease, or proposed SNDA, as applicable, shall be deeme...
APPROVAL OF LEASES. The Borrower shall not, and shall cause each Mortgagor and other Subsidiary not to, lease space at any of the Properties without the Lender's consent, which consent shall not unreasonably be withheld, provided, however, that no such consent of Lender shall be required for any lease of 10,000 square feet or less unless (i) such lease requires the Lender to provide a non-disturbance agreement to the lessee or (ii) such lease is not on commercially reasonable terms. It is hereby expressly acknowledged and agreed by the Lender that all leases at any Property identified on the certified rent roll delivered to the Lender prior to the date hereof are and shall be deemed to be approved.
APPROVAL OF LEASES. All leases of all or any part of the Property shall: (a) with respect to a Major Lease, be upon terms and with tenants approved in writing by Administrative Agent prior to Borrower’s execution of any such lease, such approval not to be unreasonably withheld, conditioned or delayed; and (b) include estoppel, subordination, attornment and mortgagee protection provisions satisfactory to Administrative Agent.
APPROVAL OF LEASES. Owner shall not enter into any lease for more than 15,000 square feet of gross leaseable area at the Collateral Asset without the prior written consent of the Administrative Agent, which consent shall be given within ten (10) business days after Administrative Agent’s receipt of a request for consent, or if not given in such time period, shall be deemed approved. After either a Default or the occurrence of events that with the passage of time could reasonably lead to a Default, the Administrative Agent shall have the right, to request Owner to request tenant estoppel certificates from any Major Tenant at the Collateral Asset.
APPROVAL OF LEASES. Borrower shall not enter into any lease for more than 10,000 square feet of gross leaseable area at the Collateral Asset without the prior written consent of the Lender, which consent or denial,as applicable, shall be given within ten (10) business days after Lender’s receipt of a request for consent, or if not given in such time period, shall be deemed approved. The Lender shall have the right, upon request, at any time, to receive tenant estoppel certificates and subordination, non-disturbance and attornment agreements in form and substance acceptable to the Lender from any Major Tenant at the Collateral Asset; provided however that Borrower shall have no obligation to provide to Lender (i) an estoppel certificate for any tenant any more often than once in each calendar year and (ii) more than one Subordination, Non-Disturbance and Attornment Agreement for any tenant.
APPROVAL OF LEASES. (a) Borrower may enter into any Leases provided that all the following requirements are satisfied:
APPROVAL OF LEASES. All leases and renewals of leases of all or any part of the Property and Improvements entered into after the Effective Date shall be upon terms consistent with the Approved Form. All standard lease forms, and any material deviation from the Approved Form shall be approved by Bondowner Representative, and if required pursuant to agreements with Investor Limited Partner, by Investor Limited Partner, in writing prior to execution of any such lease. All residential leases (on the Approved Form), and other leases, rental agreements or residency agreements entered into by Borrower, and all indebtedness arising thereunder or secured thereby, shall contain a provision stating that such leases and such tenants’ rights thereunder are unconditionally junior and subordinate to the Regulatory Agreements, the Deed of Trust and the other Loan Documents, and all indebtedness arising thereunder or secured thereby.
APPROVAL OF LEASES. All new proposed leases and each proposed tenant for each Project must be pre-approved by Lender in accordance with the following:
APPROVAL OF LEASES. All leases (and lease terminations, modifications or amendments) of all or any part of the Property shall: (a) in the case of any lease in excess of 15,000 rentable square feet, be upon terms and with tenants approved by Administrative Agent prior to Borrower's execution of any such lease; and (b) include estoppel, subordination, attornment and mortgagee protection provisions satisfactory to Administrative Agent (any such lease, a "Permitted Lease"). With respect to any lease requiring Administrative Agent’s consent, Administrative Agent shall either approve any lease request or provide comments as to why such lease is not acceptable within ten (10) Business Days following receipt of a written request from Borrower. Borrower’s request for approval of a lease CLEARLY SHALL STATE IN BOLD-FACE TYPE THAT THE FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS WILL RESULT IN DEEMED CONSENT UPON FAILURE TO RESPOND WITHIN THREE (3) BUSINESS DAYS AFTER A "FAILURE TO RESPOND" SECOND NOTICE). If Administrative Agent shall not have responded to Borrower within such ten (10) Business Day period, Borrower may give a second notice WHICH CLEARLY SHALL STATE IN BOLD-FACE TYPE THAT THE FAILURE TO RESPOND WITHIN THREE (3) BUSINESS DAYS SHALL BE DEEMED CONSENT. If Administrative Agent fails to so respond within three (3) Business Days after such second notice, the request shall be deemed to be approved.
