Common use of Existing Financing Clause in Contracts

Existing Financing. Tenant shall comply with the terms, covenants and conditions contained in the Existing Financing Documents, and shall not take any action that would cause a default thereunder. In the event of any inconsistency between the terms, covenants and conditions provided in this Agreement and those provided in the Existing Financing Documents, the Existing Financing Documents shall control. Effective automatically upon the repayment in full of the Existing Financing, this Lease shall terminate with respect to the Leased Property and the Leased Property shall be deemed to be added to and demised under Master Lease Agreement No. 4 (or under such other lease between Landlord and/or one or more Affiliates of Landlord and Tenant and/or one or more Affiliates of Tenant as may be agreed upon by Landlord and Tenant) for the Rent set forth herein and otherwise on the terms and conditions of Master Lease Agreement No. 4 (or such other lease), including, without limitation, Section 4.1.1(b) of Master Lease Agreement No. 4. Such termination and addition shall occur automatically without the need to execute any additional documentation, but Landlord and Tenant shall execute any documentation reasonably requested by the other to evidence such termination and addition.

Appears in 2 contracts

Samples: Lease Agreement (Five Star Quality Care Inc), Lease Agreement (Senior Housing Properties Trust)

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Existing Financing. Tenant shall comply with the terms, covenants and conditions contained in the Existing Financing Documents, and shall not take any action that would cause a default thereunder. In the event of any inconsistency between the terms, covenants and conditions provided in this Agreement and those provided in the Existing Financing Documents, the Existing Financing Documents shall control. Effective automatically upon the repayment in full of the Existing Financing, this Lease shall terminate with respect to the Leased Property and the Leased Property shall be deemed to be added to and demised under Master Lease Agreement No. 4 1 (or under such other lease between Landlord and/or one or more Affiliates of Landlord and Tenant and/or one or more Affiliates of Tenant as may be agreed upon by Landlord and Tenant) for the Rent set forth herein and otherwise on the terms and conditions of Master Lease Agreement No. 4 1 (or such other lease), including, without limitation, Section 4.1.1(b) of Master Lease Agreement No. 41. Such termination and addition shall occur automatically without the need to execute any additional documentation, but Landlord and Tenant shall execute any documentation reasonably requested by the other to evidence such termination and addition.

Appears in 2 contracts

Samples: Lease Agreement (Five Star Quality Care Inc), Lease Agreement (Senior Housing Properties Trust)

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