Common use of Existing Leases Clause in Contracts

Existing Leases. At Closing, pursuant to the Assignment and Assumption of Leases in the form annexed hereto as Exhibit “F”, Seller shall assign to Buyer the Existing Leases. During the period from the Effective Date through and including the last day of the Inspection Period, Seller shall have the right, upon notice to Buyer but without Buyer’s consent or approval, to enter into new leases for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases. During the period from and including the day immediately following the expiration of the Inspection Period through Closing (or earlier termination of this Agreement or default by Buyer hereunder), Seller shall not enter into new leases for portions of the Premises now vacant or for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases (other than those to which the tenant is entitled pursuant to the terms of the Existing Lease) without first submitting a copy of such proposed lease or lease amendment (including any renewal, extension or expansion as to which the lessor’s consent is required) to Buyer for Buyer’s approval, which may not be unreasonably withheld or

Existing Leases. At If Seller intends, prior to Closing, pursuant to the Assignment and Assumption of Leases in the form annexed hereto as Exhibit “F”, Seller shall assign to Buyer the Existing Leases. During the period from the Effective Date through and including the last day of the Inspection Period, Seller shall have the right, upon notice to Buyer but without Buyer’s consent or approval, to enter into new leases for portions of the Premises which may become vacant, or to enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases, Seller shall first submit to Buyer for Buyer's approval a term sheet (the "Leasing Term Sheet") identifying the tenant or proposed tenant and setting forth the material economic terms of such transaction. During the period from and including the day immediately following the expiration If Buyer does not disapprove such proposed lease transaction by written notice to Seller given within five (5) business days after Buyer's receipt of the Inspection Period through Closing (or earlier termination Leasing Term Sheet, Buyer shall be deemed to have approved the proposed lease transaction which is the subject of such Leasing Term Sheet. Buyer acknowledges that it has approved the pending lease transactions described on Schedule 7(g) to this Agreement or default by Buyer hereunder)Agreement. Notwithstanding the foregoing, Seller shall not enter into new leases for portions of the Premises now vacant or for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or be required to obtain Buyer's consent to any renewals, extensions or expansions of Existing Leases (other than those such amendments as Seller may be required to which the tenant is entitled pursuant to enter under the terms of an Existing Lease or which Seller may enter to confirm matters for which a tenant under an Existing Lease exercises an option (for example, an amendment to confirm the terms pursuant to which a tenant may lease expansion space following the exercise by such tenant of an expansion option). Seller shall promptly notify Buyer of any such amendments. Seller shall not enter any new lease or amend any Existing Lease, except as provided in this Paragraph. All existing leases listed on Exhibit D to this Agreement, together with lease amendments and new leases entered in accordance with this Paragraph, are collectively called the "Existing Leases." Without limiting the effect of any other condition to Closing contained in this Agreement, the termination of any of the Existing Lease) without first submitting Leases prior to Closing by reason of the expiration of its term or by reason of the tenant's default or exercise of a copy termination right shall not excuse Buyer from its obligation to complete Closing and to pay the Purchase Price. At Closing, Buyer shall receive a credit on account of such proposed the Purchase Price equal to the amount of any lease termination or lease amendment (including similar payment made by any renewal, extension or expansion as tenant to which Seller between the lessor’s consent is required) to Buyer for Buyer’s approval, which may not be unreasonably withheld ordate of this Agreement and Closing.

Existing Leases. Possession of the Premises and the Personal Property is to be given by Seller to Buyer at the completion of Closing by delivery of the Deed, Bxxx of Sale and General Assignment and Assumption Agreement. At Closing, pursuant to the General Assignment and Assumption of Leases in the form annexed hereto as Exhibit “F”Agreement, Seller shall assign to Buyer, without any representation or warranty whatsoever (except as otherwise expressly set forth in Paragraph 9 of this Agreement) and without recourse (other than Seller’s liability for any obligations thereunder relating to the period prior to the date of Closing that Buyer has not assumed at Closing) the Existing Leases. During the period from the Effective Date through and including the last day of the Inspection Period, Seller shall have the right, upon notice to Buyer but without Buyer’s consent or approval, to enter into new leases for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases. During the period from and including the day immediately following the expiration of the Inspection Period through Closing (or earlier termination of this Agreement or default by Buyer hereunder), Seller shall not enter into new leases for portions of the Premises now vacant or for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases (other than those to which the tenant is entitled pursuant to the terms of the Existing Lease) without first submitting such a copy of such proposed lease or lease amendment (including any renewal, extension or expansion as to which the lessor’s consent is required) to Buyer for Buyer’s approval, which may not be unreasonably withheld oror delayed. If Buyer does not disapprove in writing such a proposed lease or amendment (or renewal, extension or expansion agreement) within five (5) days of Buyer’s receipt of a copy thereof, Buyer shall be deemed to have approved the proposed lease or amendment (or renewal, extension or expansion agreement). All such new leases and modifications approved or deemed approved by Buyer (and renewals, extensions or expansions approved or deemed approved by Buyer or as to which the lessor’s consent is not required) and the presently existing leases that are listed on Exhibit “D-1" hereto are collectively herein called the “Existing Leases”. Neither (i) the termination of any of the Existing Leases prior to Closing by reason of the expiration of its term or the default of the tenant thereunder nor (ii) delinquency in the payment of rent (i.e., a failure to pay which, with notice and the opportunity to cure, if any, would constitute a default) by the tenant under any Existing Lease, shall excuse Buyer from its obligation to complete Closing and to pay the full Purchase Price, unless such termination, default, or delinquency under (i) or (ii) relates to tenant(s) whose base rent(s), in the aggregate, equal more than five percent (5%) of the total base rent of all tenants under the Existing Leases.

Existing Leases. At Closing, pursuant Property Manager shall not be entitled to a Leasing Commission with respect to the Assignment and Assumption current term of Leases any Lease executed by Owner prior to the date hereof (each, an "Existing Lease"), whether or not the terms of such Existing Lease have commenced or the tenants under such Lease have commenced to occupy the space; provided, that, subject to the limitations set forth in the form annexed hereto as Exhibit “F”subparagraph (v) below, Seller Property Manager shall assign to Buyer the Existing Leases. During the period from the Effective Date through and including the last day of the Inspection Period, Seller shall have the right, upon notice to Buyer but without Buyer’s consent or approval, to enter into new leases for portions of the Premises which may become vacant, or enter into receive a Leasing Commission in connection with (a) any amendments renewal of any Existing Leases Lease (as further provided in this subparagraph), (b) the expansion of the space presently covered by such Existing Lease (as further provided in this subparagraph), or consent (c) an amendment of an Existing Lease that results in additional income to Owner. If at any time during the term of this Agreement, the term of a Lease is renewed or extended pursuant to any renewalsoption(s) or right(s) contained in the Lease, extensions then, in such event, Owner shall pay a Leasing Commission to Property Manager based on the aggregate Base Rent for the renewal or expansions of Existing Leases. During extension terms(s) and computed at the rates set forth in Exhibit F, except that the additional commission(s) shall be calculated at the percentage rate level that would have applied if the renewal or extension period from and including the day immediately following the expiration were a part of the Inspection Period through Closing (or earlier termination initial term of the Lease. If at any time during the term of this Agreement (i) the term of a Lease is renewed or default by Buyer hereunder)extended not pursuant to any option(s) or right(s) contained in the Lease; or (ii) a tenant leases other or additional space(s) from Owner; then, Seller in such event, Owner shall not enter into new leases pay a Leasing Commission to Property Manager based on the aggregate Base Rent for portions of the Premises now vacant renewal or extension terms(s) or for portions of such other or additional space(s) and computed at the Premises which may become vacant, rates set forth in Exhibit F as if such renewal or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases (other than those to which extension were a new Lease for the tenant is entitled pursuant to the terms of the Existing Lease) without first submitting a copy of such proposed lease or lease amendment (including any renewal, extension or expansion as to which the lessor’s consent is required) to Buyer for Buyer’s approval, which may not be unreasonably withheld orspace affected thereby.

Existing Leases. Possession of each Seller’s Respective Premises and Respective Personal Property is to be given by such Seller to Buyer at the completion of the Applicable Closing by delivery of the Deed and Xxxx of Sale relating thereto, the General Assignment and Assumption Agreement and, as applicable, the Ground Lease Assignment (as defined in Section 14(a)(x)). At the Applicable Closing, pursuant to the General Assignment and Assumption of Leases in the form annexed hereto as Exhibit “F”Agreement, each Seller shall assign to Buyer the Existing Leases. During the period from the Effective Date through and including the last day of the Inspection Period, Seller shall have the right, upon notice to Buyer but without Buyer’s consent or approval, to enter into new leases for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases. During the period from and including the day immediately following the expiration of the Inspection Period date hereof through Closing (or earlier termination of this Agreement or default by Buyer hereunder), Seller none of the Sellers shall not enter into new leases for portions of the Premises now vacant or for portions of the Premises which may become vacant, or enter into any amendments of any Existing Leases or consent to any renewals, extensions or expansions of Existing Leases (other than those to which the tenant is entitled pursuant to the terms of the Existing LeaseLeases) without first submitting (i) all relevant supporting documentation, as reasonably determined by Buyer and (ii) a copy term sheet containing the proposed material terms of such proposed the lease or lease amendment (including any renewal, extension or expansion as to which the lessor’s consent is required) to Buyer for Buyer’s approval. If Buyer does not disapprove in writing such proposed lease or amendment (or renewal, extension or expansion agreement) as described in the term sheet within five (5) business days of Buyer’s receipt of such term sheet, Buyer shall be deemed to have approved the proposed lease or amendment (or renewal, extension or expansion agreement). Notwithstanding anything to the contrary, Buyer shall have the right to approve the final form of any such document and provide comments prior to execution thereof. With respect to each Property, all such new leases and modifications approved or deemed approved by Buyer (and renewals, extensions or expansions approved or deemed approved by Buyer or as to which may the lessor’s consent is not be unreasonably withheld orrequired) and the presently existing leases that are listed on Exhibit “H” hereto with respect to such Property are collectively herein called the “Existing Leases”.