Common use of Existing Leases Clause in Contracts

Existing Leases. There are no leases, licenses, or other occupancy agreements affecting any portion of the Property other than the Leases identified on Exhibit F. There are no lease term letters or leases delivered for execution to prospective tenants of the Property except for prospective lease transactions that, although at one time actively pursued, are not currently being pursued by Seller. The information contained in Exhibit F is true and correct. The copies of the Leases furnished by the Seller to the Purchaser are true and complete copies. Other than items included in Seller’s lease files which Seller has made available to Purchaser, Seller has executed no side letters or other understandings concerning the Leases. The Leases are in full force and effect, without any material default by the Seller or, to Seller’s knowledge, by any tenant thereunder. Except as set forth in Exhibit F All tenants required to pay rent or additional rent as of the Effective Date have paid such sums in full without set-off or counterclaim. Seller has not given or received any notice of default which remains uncured or unsatisfied with respect to any of the Leases. Seller has not granted to any tenant under a Lease or any other person or entity an option, right of first refusal, or right to purchase the Property or any part thereof or interest therein which is not contained in a recorded document listed as a Permitted Exception or in a Lease. All Security Deposits are set forth on Exhibit F. There are no Tenant Inducement Costs other than as set forth in Exhibit K.

Appears in 3 contracts

Sources: Purchase and Sale Agreement (Kite Realty Group Trust), Purchase and Sale Agreement (Kite Realty Group Trust), Purchase and Sale Agreement (Kite Realty Group Trust)

Existing Leases. There One or more Sellers are no leases, licenses, the lessor or other occupancy agreements affecting any portion landlord under each of the Property other than the Leases identified on Exhibit F. There are no lease term letters or leases delivered for execution to prospective tenants of the Property except for prospective lease transactions that, although at one time actively pursued, are not currently being pursued by Seller. The information contained in Exhibit F is true and correct. The copies of the Leases furnished by the Seller to the Purchaser are true and complete copies. Other than items included in Seller’s lease files which Seller has made available to Purchaser, Seller has executed no side letters or other understandings concerning the Existing Leases. The list of the Existing Leases are in full force on Schedule II constitutes and effect, without accurately reflects the only Existing Leases affecting the Facilities or any material default by the Seller or, to Seller’s knowledge, by any tenant thereunder. Except as set forth in Exhibit F All tenants required to pay rent or additional rent portion thereof as of the Effective Date have paid such sums in full without set-off or counterclaim. and the copies of the Existing Leases provided to Purchaser by Sellers constitute and include any and all agreements between Seller has not given or received any notice of default which remains uncured or unsatisfied and the Tenants with respect to the Facilities. The Existing Leases have not been amended and, to Seller’s Knowledge, no sublease under any Existing Lease is in effect, in either case, except as listed on Schedule II . Each of the LeasesExisting Leases is in full force and effect (except as terminated in accordance with the terms of Section 7.2.1 hereof). Seller Sellers have not received or delivered a notice of any default under any Existing Lease which has not granted to any tenant under a Lease been cured or any other person or entity an option, right of first refusal, or right to purchase the Property or any part thereof or interest therein which is not contained in a recorded document listed as a Permitted Exception or in a Lease. All Security Deposits are set forth on Exhibit F. There are no Tenant Inducement Costs waived other than as set forth on Schedule 6.1.7(a). The rent roll attached hereto as Schedule 6.1.7(b) (the “Rent Roll”) reflects a true, correct and complete copy, as of the Effective Date, of the rent roll used by Sellers in Exhibit K.the ordinary course of business. There is no tenant, lessee or other occupant of a Facility claiming by, through or under the applicable Seller having any right or claim to possession or use of a Facility as tenants or lessees after the Closing Date other than the tenants under the Existing Leases, and possession of the Facilities shall be delivered by Seller to Purchaser at the applicable Closing free of the rights or claims of any tenants, occupants or other parties in possession of, or having or claiming any right to possession or use of, the Facilities, in each case other than Tenants, beneficiaries under the Permitted Exceptions and such rights or claims granted, or claimed to be granted, by, through or under any Tenant (including subtenants).

Appears in 1 contract

Sources: Purchase and Sale Agreement (Global Net Lease, Inc.)

Existing Leases. There are no leasesExhibit B sets forth a correct and complete list of Existing Leases and Original Landlord has made available to Tenant a copy of each of Existing Leases in Original Landlord’s possession, licenses, or other occupancy agreements affecting any portion of the Property other than the Leases identified on Exhibit F. There are no lease term letters or leases delivered for execution to prospective tenants of the Property except for prospective lease transactions that, although at one time actively pursued, are not currently being pursued by Seller. The information contained in Exhibit F is true and correct. The copies of the Leases furnished by the Seller to the Purchaser which are true and complete copies. Other than items included in Seller’s lease files which Seller has made available to Purchaser, Seller has executed no side letters or other understandings concerning the copies of Existing Leases. The To Original Landlord’s Knowledge, (i) Original Landlord has neither given nor received any written notice of any breach or default under any of Existing Leases are in full force and effectwhich has not been cured, without any material default by the Seller or, to Seller’s knowledge, by any tenant thereunder. Except (ii) except as set forth in Exhibit F All H, no tenants are entitled to any rebates, rent concessions or free rent except as may be expressly set forth in Existing Leases, (iii) no rents due under any of Existing Leases are presently assigned, charged, hypothecated or encumbered by Original Landlord, (iv) there are no unpaid brokerage commissions or unpaid landlord obligations for tenant improvements in connection with the current term of occupancy of tenants under Existing Leases, (v) no rent under any of Existing Leases has been prepaid (except for rental for the current month and payments that are required to pay rent or additional rent as be made in advance pursuant to the terms and provisions of Existing Leases and except for prepayments set forth either in Existing Leases, (vi) no tenant has notified Landlord in writing of its intent to terminate its lease prior to expiration of the Effective Date have paid term of such sums in full without set-off or counterclaim. Seller lease, and (vii) no written notice of any default under Existing Leases has not been given or received any notice of default which remains uncured or unsatisfied with respect to any of the Leases. Seller has not granted to any tenant under a Lease or any other person or entity an option, right of first refusal, or right to purchase the Property or any part thereof or interest therein which is not contained in a recorded document listed as a Permitted Exception or in a Lease. All Security Deposits are set forth on Exhibit F. There are no Tenant Inducement Costs other than as set forth in Exhibit K.by Landlord;

Appears in 1 contract

Sources: Master Lease Agreement (CNL Income Properties Inc)