Common use of Covenant of Lessor Clause in Contracts

Covenant of Lessor. So long as the Loan remains outstanding and unpaid or any other amount is owing to Lender hereunder or under the other Operative Documents, the Lessor will promptly pay all amounts payable by it under this Loan Agreement and the Note in accordance with the terms hereof and thereof and shall duly perform each of its obligations under this Loan Agreement and the Note. The Lessor agrees to provide to the Lender a copy of each estoppel certificate that the Lessor proposes to deliver pursuant to Section 18.13 of the Lease at least five (5) days prior to such delivery and to make any corrections thereto reasonably requested by the Lender prior to such delivery. The Lessor shall keep the Leased Property free and clear of all Lessor Liens. The Lessor shall not reject any sale of the Leased Property pursuant to Section 15.6 of the Lease unless the Loan has not been paid in full or the Lender consents to such rejection. In the event that the Lender directs the Lessor to reject any sale of the Leased Property pursuant to Section 15.6 of the Lease, the Lessor agrees to take such action as Lender reasonably requests to effect a sale or other disposition of the Leased Property. If a Loan Event of Default under Section 5.1(e) hereof occurs, the Lessor will not reject the Lease but shall assign the same to the Lender and the Lender agrees to assume the Lessor's obligations thereunder.

Appears in 2 contracts

Samples: Loan Agreement (Eagle Usa Airfreight Inc), Loan Agreement (Eagle Usa Airfreight Inc)

AutoNDA by SimpleDocs

Covenant of Lessor. So long as the any Loan remains outstanding and unpaid or any other amount is owing to any Lender hereunder or under the other Operative Documentswith respect to its Funding Party Balances, subject to Section 4.2, the Lessor will promptly pay all amounts payable by it under this Loan Agreement and the Note Notes issued by it in accordance with the terms hereof and thereof and shall duly perform each of its obligations under this Loan Agreement and the NoteNotes. The Lessor agrees to provide to the Lender Agent a copy of each estoppel certificate that the Lessor proposes to deliver pursuant to Section 18.13 17.13 of the Lease at least five (5) days prior to such delivery and to make any corrections thereto reasonably requested by the Lender Agent prior to such delivery. The Lessor shall keep the Leased Property free and clear of all Lessor Liens. The Lessor shall not reject any sale of the Leased Property pursuant to Section 15.6 14.6 of the Lease unless all of the Loan has not Loans have been paid in full or the Lender consents Lenders consent to such rejection. In the event that the Lender directs the Lessor to Lenders reject any sale of the Leased Property pursuant to Section 15.6 14.6 of the Lease, the Lessor agrees to take such action as Lender the Lenders reasonably requests request to effect a sale or other disposition of the Leased Property. If a Loan Event of Default under Section 5.1(e) hereof occurs, provided that the Lessor will shall not reject the Lease but shall assign the same be required to the Lender and the Lender agrees to assume the Lessor's obligations thereunderexpend its own funds in connection with such sale or disposition.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Fidelity National Information Services, Inc.)

Covenant of Lessor. So long as the any Loan remains ------------------ outstanding and unpaid or any other amount is owing to any Lender hereunder or under the other Operative Documentswith respect to its Funding Party Balances, subject to Section 4.2, the Lessor will promptly ----------- pay all amounts payable by it under this Loan Agreement and the Note Notes issued by it in accordance with the terms hereof and thereof and shall duly perform each of its obligations under this Loan Agreement and the NoteNotes. The Lessor agrees to provide to the Lender Agent a copy of each estoppel certificate that the Lessor proposes to deliver pursuant to Section 18.13 17.13 of the Lease at least five (5) days prior to such delivery and to make any corrections thereto reasonably requested by the Lender Agent prior to such delivery. The Lessor shall keep the Leased Property free and clear of all Lessor Liens. The Lessor shall not reject any sale of the Leased Property pursuant to Section 15.6 14.6 of the Lease unless all of the Loan has not Loans have been paid in full or the Lender consents Lenders consent to such rejection. In the event that the Lender directs the Lessor to Lenders reject any sale of the Leased Property pursuant to Section 15.6 14.6 of the Lease, the Lessor agrees to take such action as Lender the Lenders reasonably requests request to effect a sale or other disposition of the Leased Property. If a Loan Event of Default under Section 5.1(e) hereof occurs, provided that the Lessor will shall not reject the Lease but shall assign the same be required to the Lender and the Lender agrees to assume the Lessor's obligations thereunderexpend its own funds in -------- connection with such sale or disposition.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Certegy Inc)

Covenant of Lessor. So long as the any Lender's Commitment remains in effect, any Loan remains outstanding and unpaid or any other amount is owing to any Lender hereunder or under the other Operative Documentswith respect to its Funding Party Balances, subject to Section 4.2, the Lessor will promptly pay all amounts payable by it under this Loan Agreement and the Note Notes issued by it in accordance with the terms hereof and thereof and shall duly perform each of its obligations under this Loan Agreement and the NoteNotes. The Lessor agrees to provide to the Lender Agent a copy of each estoppel certificate that the Lessor proposes to deliver pursuant to Section 18.13 17.13 of the Lease at least five (5) days prior to such delivery and to make any corrections thereto reasonably requested by the Lender Agent prior to such delivery. The Lessor shall keep the each Leased Property owned by it free and clear of all Lessor Liens. The Lessor shall not reject any sale of the any Leased Property pursuant to Section 15.6 14.6 of the Lease unless all of the Loan has not related Loans have been paid in full or the Lender consents Lenders consent to such rejection. In the event that the Lender directs the Lessor to Lenders reject any sale of the any Leased Property pursuant to Section 15.6 14.6 of the LeaseLease or the Lessee returns any Leased Property pursuant to the Construction Agency Agreement, the Lessor agrees to take such action as Lender the Lenders reasonably requests request to effect a sale or other disposition of the such Leased Property. If a Loan Event of Default under Section 5.1(e) hereof occurs, provided that the Lessor will shall not reject the Lease but shall assign the same be required to the Lender and the Lender agrees to assume the Lessor's obligations thereunderexpend its own funds in connection with such sale or disposition.

Appears in 1 contract

Samples: Master Agreement (Ruby Tuesday Inc)

AutoNDA by SimpleDocs

Covenant of Lessor. So long as the any Lender's Commitment remains in effect, any Loan remains outstanding and unpaid or any other amount is owing to any Lender hereunder or under the other Operative Documentswith respect to its Funding Party Balances, subject to Section 4.2, the Lessor will promptly pay all amounts payable by it under this Loan Agreement and the Note Notes issued by it in accordance with the terms hereof and thereof and shall duly perform each of its obligations under this Loan Agreement and the NoteNotes. The Lessor agrees to provide to the Lender Agent a copy of each estoppel certificate that the Lessor proposes to deliver pursuant to Section 18.13 17.13 of the Lease at least five (5) days prior to such delivery and to make any corrections thereto reasonably requested by the Lender Agent prior to such delivery. The Lessor shall keep the each Leased Property owned by it free and clear of all Lessor Liens. The Lessor shall not reject any sale of the any Leased Property pursuant to Section 15.6 14.6 of the Lease unless all of the Loan has not related Loans have been paid in full or the Lender consents Lenders consent to such rejection. In the event that the Lender directs the Lessor to Lenders reject any sale of the any Leased Property pursuant to Section 15.6 14.6 of the Lease, the Lessor agrees to take such action as Lender the Lenders reasonably requests request to effect a sale or other disposition of the such Leased Property. If a Loan Event of Default under Section 5.1(e) hereof occurs, provided that the Lessor will shall not reject the Lease but shall assign the same be required to the Lender and the Lender agrees to assume the Lessor's obligations thereunderexpend its own funds in connection with such sale or disposition.

Appears in 1 contract

Samples: Master Agreement (Ruby Tuesday Inc)

Covenant of Lessor. So long as the any Lender's Commitment remains in effect, any Loan remains outstanding and unpaid or any other amount is owing to any Lender hereunder or under the other Operative Documentswith respect to its Funding Party Balances, subject to Section 4.2, the Lessor will promptly pay all amounts payable by it under this Loan Agreement and the Note Notes issued by it in accordance with the terms hereof and thereof and shall duly perform each of its obligations under this Loan Agreement Agreement, the Notes and the Noteother Operative Documents to which it is a party. The Lessor agrees to provide to the Lender Agent a copy of each estoppel certificate that the Lessor proposes to deliver pursuant to Section 18.13 17.13 of the Lease at least five (5) days prior to such delivery and to make any corrections thereto reasonably requested by the Lender Agent prior to such delivery. The Lessor shall keep the each Leased Property owned by it free and clear of all Lessor Liens. The Lessor shall not reject any sale of the any Leased Property pursuant to Section 15.6 14.6 of the Lease unless all of the Loan has not related Loans have been paid in full or all of the Lender consents Lenders consent to such rejection. In the event that all of the Lender directs the Lessor to Lenders reject any sale of the any Leased Property pursuant to Section 15.6 14.6 of the LeaseLease or the Lessee returns any Leased Property pursuant to the Construction Agency Agreement, the Lessor agrees to take such action as Lender the Required Lenders reasonably requests request to effect a sale or other disposition of the such Leased Property. If a Loan Event of Default under Section 5.1(e) hereof occurs, provided that the Lessor will shall not reject the Lease but shall assign the same be required to the Lender and the Lender agrees to assume the Lessor's obligations thereunderexpend its own funds in connection with such sale or disposition.

Appears in 1 contract

Samples: Master Agreement (Ruby Tuesday Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!