Certain Leases. SCHEDULE 3.7 lists all leases to which Seller is a party in respect of the Business involving annual obligations on the part of Seller for the payment of rent in excess of $5,000 or involving rental of real property by Seller as lessor, lessee, sublessor or sublessee ("SCHEDULED LEASES"). Seller has delivered or made available to Buyer true and correct copies of all Scheduled Leases. All of the Scheduled Leases which Buyer has agreed to assume pursuant to the Assignment and Undertaking are valid and binding obligations of the parties thereto, are in full force and effect, and are enforceable against the parties thereto in accordance with their terms; and to the best of Seller's knowledge, no event has occurred including, but not limited to, the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby which (whether with or without notice, lapse of time or both) would constitute a default thereunder. To the best of Seller's knowledge, neither Seller nor any of the other parties to any of those Scheduled Leases which Buyer has agreed to assume pursuant to the Assignment and Undertaking (i) is in default under any such Scheduled Lease or (ii) considers Seller to be in default thereunder. Seller has not, as lessor under any such Scheduled Lease, accepted prepaid rent more than one month in advance or waived any rights or obligations thereunder. No consents are required for Seller's assignments of the Scheduled Leases to be assigned except as disclosed in SCHEDULE 3.7.
Certain Leases. None of the Parent, Lessee or any of the Subsidiaries will permit the aggregate payments (excluding any property taxes, insurance or maintenance obligations paid by the Parent, Lessee and the Subsidiaries as additional rent or lease payments) by the Parent, Lessee and the Subsidiaries on a consolidated basis under agreements to rent or lease any real or personal property for a period exceeding 12 months (including any renewal or similar option periods) (other than any leases constituting Capital Leases, Synthetic Leases or, subject to Paragraph (s) above, leases between the Parent and Lessee, between Subsidiaries or between the Parent or Lessee and a Subsidiary), to exceed in any fiscal year of the Parent an amount greater than 3.50% of the Consolidated Net Worth of the Parent and Lessee as of the date of the financial statements then most recently furnished to Lessor and the Participants under Section IV(b)(i).
Certain Leases. The Borrower will not permit the aggregate payments (excluding any property taxes, insurance or maintenance obligations paid by the Borrower and its Subsidiaries as additional rent or lease payments) by the Borrower and its Subsidiaries on a consolidated basis under agreements to rent or lease any real or personal property for a period exceeding 12 months (including any renewal or similar option periods), other than any leases constituting Capital Leases, to exceed $3,000,000 in any fiscal year of the Borrower.
Certain Leases. Buyer shall indemnify Holdings and PHL for and hold them harmless from any Losses incurred by APC, Holdings or PHL after the Closing as a result of the failure to obtain prior to the Closing any required consent to assign the following leases: St. Davids Center Indenture of Lease between Wyeth Laboratories Inc. and American Brokerage Corporation of Philadelphia, dated November 15, 1990; and Office Lease between Magnolia Associates, Ltd. and American Phoenix Corporation, dated August 2, 1995.
Certain Leases. (a) Prior to the Closing, except as otherwise provided in this subsection (a), Seller shall use its reasonable best efforts to obtain the consent of the landlords under the leases specified on Schedule 6.09 (collectively, the "Consent Leases"). The form of consent letter shall be subject to the prior consent of Purchaser, which Purchaser consent shall not be unreasonably withheld or delayed. Seller shall control the process of obtaining consents with respect to the Consent Leases prior to the Closing, however, Seller shall consult with Purchaser prior to soliciting consents with respect to the Consent Leases. If within 10 days after receipt from Seller of the form of consent letter, Purchaser requests in writing to
Certain Leases. The Borrower will not permit the aggregate rental payments (exclusive of any supplemental or additional rental payments in respect of taxes, maintenance or insurance) under all noncancelable leases (other than Capital Leases) of real and/or personal property having an original term (including any extensions or renewals at the option of the lessee or lessor) of at least one year, to exceed $4,000,000 on a combined basis for the Borrower, its Subsidiaries and the Property Joint Ventures, in any period of 12 consecutive months.
Certain Leases. The Shareholders and the Company will cause the leases set forth on Schedule 9.07 that are marked with an asterisk (each such lease being a “Required Lease”) to be assigned (including all security deposits in connection with such leases) to the Purchaser at the Closing. With respect to all other leases (such other lease being the “Other Leases”) set forth on Schedule 9.07 (other than the Required Leases), the Shareholders and the Company will use their respective reasonable best efforts to cause such Other Leases to be assigned (including all security deposits in connection with such leases) to the Purchaser at the Closing; provided, however, that the failure of the Shareholders and the Company to cause all of the Other Leases to be assigned to the Purchaser shall not be considered to be a breach of this Agreement. In any event, the Company will cause all of the Other Leases to be assigned to the Purchaser within 60 days following the Closing.
Certain Leases. The Borrower will not permit the aggregate payments (excluding any property taxes, insurance or maintenance obligations paid by the Borrower and its Subsidiaries as additional rent or lease payments) by the Borrower and its Subsidiaries on a consolidated basis under agreements to rent or lease any real or personal property for a period exceeding 12 months (including any renewal or similar option periods), including any leases constituting Capital Leases, to exceed in any fiscal year of the Borrower an amount equal to 2% of the consolidated revenues of the Borrower and its Subsidiaries for the preceding fiscal year.
