Covenants of Borrower Regarding Leases and Rents. Borrower covenants that Borrower (a) will observe and perform all of the obligations imposed upon the landlord in the Leases and will not do or permit to be done anything to impair the security thereof; (b) will use its best efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every obligation and undertaking of the respective Tenants under the Leases, except for obligations or undertaking waived in the ordinary course of Borrower’s business, and will appear in and defend, at Borrower’s sole cost and expense, any action or proceeding arising under, or in any manner connected with, the Leases; (c) will not collect any of the rents under the Leases more than thirty (30) days in advance of the time when the same become due under the terms of the Leases; (d) will not discount any future accruing rents other than in the ordinary course of business; (e) without the prior written consent of Administrative Agent, will not execute any assignment of the Leases or the rents thereunder; and (f) will execute and deliver, at the request of Administrative Agent, all such assignments of the Leases and rents thereunder in favor of Administrative Agent for the benefit of itself and the Lenders as Administrative Agent may from time to time reasonably require.
Appears in 1 contract
Samples: Construction Loan Agreement
Covenants of Borrower Regarding Leases and Rents. Borrower covenants that Borrower (a) will observe and perform all of the obligations imposed upon the landlord in the Leases and will not do or permit to be done anything to impair the security thereof; (b) will use its best efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every obligation and undertaking of the respective Tenants under the Leases, except for obligations or undertaking waived in the ordinary course of BorrowerXxxxxxxx’s business, and will appear in and defend, at BorrowerXxxxxxxx’s sole cost and expense, any action or proceeding arising under, or in any manner connected with, the Leases; (c) will not collect any of the rents under the Leases more than thirty (30) days in advance of the time when the same become due under the terms of the Leases; (d) will not discount any future accruing rents other than in the ordinary course of business; (e) without the prior written consent of Administrative Agent, will not execute any assignment of the Leases or the rents thereunder; and (f) will execute and deliver, at the request of Administrative Agent, all such assignments of the Leases and rents thereunder in favor of Administrative Agent for the benefit of itself and the Lenders as Administrative Agent may from time to time reasonably require.
Appears in 1 contract
Samples: Term Loan Agreement
Covenants of Borrower Regarding Leases and Rents. Borrower covenants that Borrower (a) will observe and perform all of the obligations imposed upon the landlord in the Leases and will not do or permit to be done anything to impair the security thereof; (b) will use its best efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every obligation and undertaking of the respective Tenants under the Leases, except for obligations or undertaking waived in the ordinary course of BorrowerXxxxxxxx’s business, and will appear in and defend, at BorrowerXxxxxxxx’s sole cost and expense, any action or proceeding arising under, or in any manner connected with, the Leases; (c) will not collect any of the rents under the Leases more than thirty (30) days in advance of the time when the same become due under the terms of the Leases; (d) will not discount any future accruing rents other than in the ordinary course of business; (e) without the prior written consent of Administrative AgentLender, will not execute any assignment of the Leases or the rents thereunder; and (f) will execute and deliver, at the request of Administrative AgentXxxxxx, all such assignments of the Leases and rents thereunder in favor of Administrative Agent for the benefit of itself and the Lenders Xxxxxx as Administrative Agent Lender may from time to time reasonably require.
Appears in 1 contract
Samples: Construction Loan Agreement
Covenants of Borrower Regarding Leases and Rents. Borrower covenants that Borrower (a) will observe and perform all of the obligations imposed upon the landlord in the Leases and will not do or permit to be done anything to impair the security thereof; (b) will use its best efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every obligation and undertaking of the respective Tenants under the Leases, except for obligations or undertaking waived in the ordinary course of BorrowerXxxxxxxx’s business, and will appear in and defend, at BorrowerXxxxxxxx’s sole cost and expense, any action or proceeding arising under, or in any manner connected with, the Leases; (c) will not collect any of the rents under the Leases more than thirty (30) days in advance of the time when the same become due under the terms of the Leases; (d) will not discount any future accruing rents other than in the ordinary course of business; (e) without the prior written consent of Administrative AgentXxxxxx, will not execute any assignment of the Leases or the rents thereunder; and (f) will execute and deliver, at the request of Administrative AgentXxxxxx, all such assignments of the Leases and rents thereunder in favor of Administrative Agent for the benefit of itself and the Lenders Xxxxxx as Administrative Agent Xxxxxx may from time to time reasonably require.
Appears in 1 contract
Samples: Term Loan Agreement