Compliance with Leases and Agreements. To the best of the information, knowledge and belief of the Vendor, no act or omission has occurred whereby the Vendor is, or would be, in default under the terms of the Regulations, any Lease or any agreement pertaining to the Assets;
Compliance with Leases and Agreements. (a) The Mortgagor has heretofore delivered to the Beneficiary true and complete copies of all Leases, and all Agreements and any and all amendments or modifications thereof as required under the Credit Agreement. Except as disclosed in writing to Beneficiary (and which such matters do not have a Material Adverse Effect), the Leases and Agreements are in full force and effect and the Mortgagor has neither given to, nor received any written notice of default from, any Tenants under any Leases or any party to any of the Agreements, and, to the Mortgagor's knowledge, no events or circum- stances exist which with or without the giving of notice, the passage of time or both, may constitute a default under any of the Leases or Agreements. The Mortgagor will promptly notify the Beneficiary upon the occurrence of any of the foregoing events.
(b) The Mortgagor may, at all times, lease to any Person space within any Property in a manner consistent with other first-class office properties comparable to the applicable Property and then current market conditions existing in the applicable market area in which such Property is located, and otherwise in accordance with this Mortgage. Each Lease entered into after the date hereof (including the renewal or extension on or after the date hereof of any Lease entered into prior to the date hereof if the rent payable during such renewal or extension, or a formula or other method to compute such rent, is not provided for in such Lease (such a renewal or extension a "Renewal Lease")) ------------- shall either (i)
(A) provide for payment of rent and all other material amounts payable thereunder at rates at least equal to the fair market rental value (taking into account the type and creditworthiness of the tenant, the length of tenancy and the location and size of the unit so rented), as of the date such Lease is executed by the Mortgagor, of the space covered by such Lease or Renewal Lease for the term thereof, including any renewal options, (B) not contain any provision whereby the rent payable thereunder would be based, in whole or in part, upon the net income or profits derived by any Person from the applicable Property (provided, however, that it may contain a provision in which -------- ------- a portion of rent may be payable based on a percentage of gross income), (C) not entitle any Tenant to receive and retain Proceeds of a Taking except those that may be specifically awarded to it in condemnation proceedings because of...
Compliance with Leases and Agreements. Except for the payments due to Westhill Resources Ltd., the Canadian Western Bank and to the operator of the Assets, to the best of the information, knowledge and belief of the Vendor, no act or omission has occurred whereby the Vendor is, or would be, in default under the terms of the Regulations, any Lease or any agreement pertaining to the Assets;
Compliance with Leases and Agreements. CONTRACTOR covenants that it shall comply in all material respects with (a) all leases relating to the DESIGNATED LOCATIONS (including the Aurora Lease, any other lease for the Aurora Facility, and any lease for the West Coast Facility), and (b) all leases relating to, and all agreements for the purchase of, any Funded Equipment.
Compliance with Leases and Agreements. To Vendor’s knowledge, there has been no act or omission whereby it is, or would be, in default under the Regulations or any of the Title and Operating Documents, which default would reasonably be expected to have a material adverse effect on the aggregate value of the Assets;
Compliance with Leases and Agreements. To Vendors’ and Vendors’ Affiliates knowledge, there has been no act or omission whereby the Partnership or the Vendors are, or would be, in default under the Regulations or any of the Title and Operating Documents, which default would reasonably be expected to have a material adverse effect on the aggregate value of the Assets or the Partnership;
Compliance with Leases and Agreements. To the best of the information, knowledge and belief of the Vendor, and other than as disclosed in the documents provided by the Vendor to the Purchaser for the purposes of the Purchaser conducting its due diligence in respect of the Assets, no act or omission has occurred whereby the Vendor is, or would be, in default under the terms of the Regulations, any Lease or any agreement pertaining to the Assets, where such a default would impact materially and adversely upon the Assets, or any of them;
Compliance with Leases and Agreements. To the best of the information, ------------------------------------- knowledge and belief of the Seller, no act or omission has occurred whereby the Seller is, or would be, in default under the terms of the Regulations, any Lease or any agreement pertaining to the Assets, where such a default would impact materially and adversely upon the Assets, or any of them;
Compliance with Leases and Agreements. To the best of the knowledge of the vendor , no act or omission has occurred whereby the vendor is, or would be, in default under the terms of the Regulations, any Lease or any agreement pertaining to the Assets, where such a default would impact materially and adversely upon the Assets, or any of them;
Compliance with Leases and Agreements. Mortgagor will comply in all material respects with all of the terms, covenants and provisions, express or implied, of the Leases and the Agreements, and perform all reasonable acts necessary or proper to prevent the termination or forfeiture of any Lease by curing any default by Mortgagor under the terms of the Lease within the time allotted to Mortgagor under such Lease. Except with the prior written consent of the Bank, or except to effect extensions or renewals thereof, Mortgagor will not amend any material provision of or terminate (before the end of the stated term) any of the Agreements or surrender, abandon or release any of the Leases in whole or in part so long as any Well located in any unit containing all or any part of such Leases is capable of producing Hydrocarbons in paying or commercial quantities. Mortgagor will promptly discharge all obligations within any applicable cure period which it has to the holders of royalty and overriding royalty interests and all other interests in the Leases and other Mortgaged Properties.
