Covenants Regarding Leases. Borrower (i) shall observe and perform all the obligations imposed upon the lessor under each Lease in all material respects, and shall not do or permit to be done anything to impair the value of any Lease as security for the Obligations; (ii) upon request (which request is hereby deemed given with respect to any “Major Lease”, as defined below), shall promptly send copies to Lender of all notices of default which Borrower shall send or receive thereunder; (iii) shall enforce all of the material terms, covenants and conditions contained in each Lease upon the part of the Tenant thereunder to be observed or performed, (iv) shall not collect any of the Rents more than one (1) month in advance (it being acknowledged that security deposits shall not be deemed Rents collected in advance); (v) shall not execute any other assignment of the lessor’s interest in any of the Leases or the Rents and Profits (other than to Lender as security for the Obligations); and (vi) shall not consent to any assignment of or subletting under any Lease not in accordance with the terms of such Lease, in each case without the prior written consent of Lender. Within 30 days after Lender’s request therefor (which request shall not be made more than the lesser of twice in any calendar year absent an Event of Default or the maximum number of estoppel certificates the Tenant under the Lease is required to provide), Borrower shall deliver to Lender an estoppel certificate from each Tenant to the extent Borrower can require Tenant to deliver such estoppel certificates.
Covenants Regarding Leases. Grantor shall not, without the prior written consent of Beneficiary obtained in each instance:
Covenants Regarding Leases. Mortgagor shall not, without the prior written consent of Mortgagee obtained in each instance:
Covenants Regarding Leases. Borrower agrees:
Covenants Regarding Leases. Trustor agrees:
Covenants Regarding Leases. Assignor covenants it will not, without the prior written consent of Assignee obtained in each instance:
Covenants Regarding Leases. Borrower shall cause Property Owner to not, without the prior written consent of Lender obtained in each instance:
Covenants Regarding Leases. (a) Borrower agrees that (i) Borrower will observe and perform in all material respects 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; (ii) Borrower will use its commercially reasonable efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every material obligation and undertaking of the respective tenants under the Leases 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; (iii) no Rents will be waived, released, discounted, set off or compromised; (iv) except as stated in the Leases, Borrower has not received any funds or deposits from any tenant which for credit has not already been made on account of accrued Rents; (v) Borrower will not without the prior written consent of Administrative Agent waive, release, discount, set off, compromise, reduce or defer any Rent, receive or collect Rents more than one (1) month in advance, grant any rent-free period to any tenant, reduce any Lease term or waive, release or otherwise modify any other material obligation under any Lease, renew or extend any Lease except in accordance with a right of the tenant thereto in such Lease, approve or consent to an assignment of a Lease or a subletting of any part of the premises covered by a Lease, or settle or compromise any claim against a tenant under a Lease in bankruptcy or otherwise; (vi) Borrower will not, without the prior written consent of Administrative Agent, terminate or consent to the cancellation or surrender of any Lease having an unexpired term of one (1) year or more unless promptly after the cancellation or surrender a new Lease of such premises is made with a new tenant having a credit standing, in Administrative Agent’s judgment, at least equivalent to that of the tenant whose Lease was cancelled, on substantially the same terms as the terminated or cancelled Lease; (vii) Borrower will not execute any Lease except in accordance with the Loan Documents and for actual occupancy by the tenant thereunder; and (viii) Borrower shall give prompt notice to Administrative Agent, as soon as Borrower first obtains notice, of any claim, or the commencement of any action, by any tenant or subtenant under or with respect to a Lease regarding any claimed damage, default, diminution of or offset against Rent, cancellation of the Lease, or c...
Covenants Regarding Leases. (a) The Leases are valid and subsisting leases, are in full force and effect in accordance with the terms thereof and have not been modified except as herein set forth. All of the rents and other charges payable under the Leases prior to the execution hereof have been paid, all of the terms, conditions and agreements contained in the Leases have been performed and no default exists under the Leases. This Deed of Trust is lawfully executed and delivered in conformity with the Leases and is, and will be kept, a valid lien on the interests of the Grantor therein.
Covenants Regarding Leases. (I) All future Leases, amendments, modifications, renewals and terminations shall be subject to Beneficiary's approval.
