Common use of FINANCING OF THE LEASED PROPERTY Clause in Contracts

FINANCING OF THE LEASED PROPERTY. Lessor agrees that it will not grant or create any mortgage, deed of trust, lien, encumbrance or other title retention agreement upon the Leased Property to secure any indebtedness of Lessor (an "Encumbrance"), unless each holder of such an Encumbrance agrees (a) to give Lessee the same notice, if any, given to Lessor of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure of such Encumbrance, (b) to permit Lessee to appear with its representatives and to bid at any public foreclosure sale with respect to any such Encumbrance, (c) agrees to release the Leased Property from the Encumbrance upon the exercise by Lessee of a right to purchase contained in this Lease and the payment by Lessee of the applicable purchase price, and (d) enters into an agreement with Lessee containing the provisions described in Article 33 of this Lease. Lessee agrees to execute and deliver to Lessor or the holder of an Encumbrance any written agreement required by this Article within ten days of written request thereof by Lessor or such holder of an Encumbrance. Lessee hereby consents to the assignment of and grant of a security interest and lien in this Lease together with the other documents and instruments delivered to Lessor by Lessee pursuant hereto and in connection herewith (collectively, the "Assigned Documents"), including all rights of Lessor in, to and under each Assigned Document, by Lessor to any Facility Mortgagee requesting same. Lessee hereby further agrees to execute a Consent to Assignment in substantially the form attached hereto as Exhibit X. Xxxxxx shall --------- pay any Encumbrance as and when due subject to any right granted Lessor in such Encumbrance to contest any obligation of Lessor or to withhold any payment or sum due under the Encumbrance.

Appears in 3 contracts

Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)

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FINANCING OF THE LEASED PROPERTY. Lessor agrees that it will not grant or create any mortgage, deed of trust, lien, encumbrance or other title retention agreement (“Encumbrance”) upon the Leased Property to secure any indebtedness of Lessor (an "Encumbrance"), unless each the holder of each such an Encumbrance shall simultaneously with or prior to recording the Encumbrance agrees (a) to give Lessee the same notice, if any, given to Lessor of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure of such Encumbrance, (b) to permit Lessee to appear with its representatives and to bid at any public foreclosure sale with respect to any such Encumbrance, Encumbrance and (c) agrees to release the Leased Property from the Encumbrance upon the exercise by Lessee of a right to purchase contained in this Lease and the payment by Lessee of the applicable purchase price, and (d) enters enter into an agreement with Lessee containing the provisions described in Article 33 XXXIII of this Lease. Lessee Lxxxxx agrees to execute and deliver to Lessor or the holder of an Encumbrance any written agreement required by this Article within ten days of written request thereof by Lessor or such the holder of an Encumbrance. Lessee hereby consents to the assignment of and grant of a security interest and lien in this Lease together with the other documents and instruments delivered to Lessor by Lessee pursuant hereto and in connection herewith (collectively, the "Assigned Documents"), including all rights of Lessor in, to and under each Assigned Document, by Lessor to any Facility Mortgagee requesting sameNationsBank of Georgia, National Association, as Agent (the “Agent”) for itself and the other lenders from time to time parties to that certain Revolving Credit and Reimbursement Agreement dated as of June 22, 1994, among Lessor, the lenders party thereto (the “Lenders”) and the Agent, as amended by that certain Amendment Agreement No. Lessee I to Revolving Credit and Reimbursement Agreement and Certain Other Loan Documents dated as of October 26, 1994, and by that certain Amendment Agreement No. 2 to Revolving Credit and Reimbursement Agreement and Certain Other Loan Documents dated as of March 17, 1995 (as so amended and as it may be further amended, modified or supplemented from time to time, the “Credit Agreement”), pursuant to which the Lenders have established a revolving credit facility and letter of credit facility in favor of Lessor. Lxxxxx hereby further agrees to execute a Consent to Assignment in substantially the form attached hereto as Exhibit X. E. Xxxxxx shall --------- pay further agrees that in connection with the execution of any Encumbrance such assignment by Lxxxxx, Lxxxxx will execute and deliver to the Agent a tenant estoppel certificate in substantially the form attached hereto as and when due subject to any right granted Lessor in such Encumbrance to contest any obligation of Lessor or to withhold any payment or sum due under the Encumbrance.Exhibit F.

Appears in 2 contracts

Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)

FINANCING OF THE LEASED PROPERTY. Lessor agrees that it will not grant or create any mortgage, deed of trust, lien, encumbrance or other title retention agreement upon the Leased Property to secure any indebtedness of Lessor (an "Encumbrance"), unless each holder of such an Encumbrance agrees (a) to give Lessee the same notice, if any, given to Lessor of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure of such Encumbrance, (b) to permit Lessee to appear with its representatives and to bid at any public foreclosure sale with respect to any such Encumbrance, (c) agrees to release the Leased Property from the Encumbrance upon the exercise by Lessee of a right to purchase contained in this Lease and the payment by Lessee of the applicable purchase price, and (d) enters into an agreement with Lessee containing the provisions described in Article 33 XXXIII of this Lease. Lessee agrees to execute and deliver to Lessor or the holder of an Encumbrance any written agreement required by this Article within ten days of written request thereof by Lessor or such the holder of an Encumbrance. Lessee hereby consents to the assignment of and grant of a security interest and lien in this Lease together with the other documents and instruments delivered to Lessor by Lessee and Guarantor pursuant hereto and in connection herewith (collectively, the "Assigned Documents"), including all rights of Lessor in, to and under each Assigned Document, by Lessor to any Facility Mortgagee requesting same. Lessee hereby further agrees to execute a Consent to Assignment in substantially the form attached hereto as Exhibit X. Xxxxxx shall --------- pay any Encumbrance as and when due subject to any right granted Lessor in such Encumbrance to contest any obligation of Lessor or to withhold any payment or sum due under the Encumbrance.G.

Appears in 2 contracts

Samples: Agreement (Integrated Living Communities Inc), Lease Agreement (Integrated Living Communities Inc)

FINANCING OF THE LEASED PROPERTY. Lessor agrees that that, if it will not grant grants or create creates any mortgage, deed of trust, lien, encumbrance or other title retention agreement (“Liens”) upon any portion of the Leased Property relating to secure any indebtedness of particular Facility after the Commencement Date, Lessor (will use commercially reasonable efforts to obtain an "Encumbrance"), unless each agreement from the holder of each such an Encumbrance Lien whereby such holder agrees (a) to give the Facility Lessee which operates the Facility on such portion of the Leased Property the same notice, if any, given to Lessor of any default or acceleration of any obligation underlying any such Encumbrance Lien or any sale in foreclosure of such EncumbranceLien, (b) to permit such Facility Lessee, after twenty (20) days’ prior written notice, to cure any such default on Lessor’s behalf within any applicable cure period, (c) to permit such Facility Lessee to appear with its representatives and to bid at any public foreclosure sale with respect to any such EncumbranceLien, (c) agrees to release the Leased Property from the Encumbrance upon the exercise by Lessee of a right to purchase contained in this Lease and the payment by Lessee of the applicable purchase price, and (d) enters that, if subordination by such Facility Lessee is requested by the holder of each such Lien, to enter into an agreement with such Facility Lessee containing the provisions described in Article 33 of this Lease. Lessee agrees XXXVII and (e) to execute and deliver to Lessor such Facility Lessee a written agreement consenting to this Lease and agreeing that, notwithstanding any such other Facility Instrument or any default, expiration, termination, foreclosure, sale, entry or other act or omission thereunder, such Facility Lessee shall not be disturbed in peaceful enjoyment of such portion of the Leased Property nor shall this Lease be terminated or canceled at any time, except in accordance with Article XVI as a result of an Event of Default. No Facility Lessee shall be subordinated to the holder of an Encumbrance any written agreement required by this Article within ten days a Lien unless both conditions of written request thereof by Lessor or such holder of an Encumbrance. Lessee hereby consents to the assignment of clause (d) and grant of a security interest and lien in this Lease together with the other documents and instruments delivered to Lessor by Lessee pursuant hereto and in connection herewith (collectively, the "Assigned Documents"), including all rights of Lessor in, to and under each Assigned Document, by Lessor to any Facility Mortgagee requesting same. Lessee hereby further agrees to execute a Consent to Assignment in substantially the form attached hereto as Exhibit X. Xxxxxx shall --------- pay any Encumbrance as and when due subject to any right granted Lessor in such Encumbrance to contest any obligation of Lessor or to withhold any payment or sum due under the Encumbrancee) above are met.

Appears in 1 contract

Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)

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FINANCING OF THE LEASED PROPERTY. Lessor agrees that it will not grant or create any mortgage, deed of trust, lien, encumbrance or other title retention agreement upon the Leased Property to secure any indebtedness of Lessor (an "Encumbrance"), unless each the holder of each such an Encumbrance agrees shall simultaneously with or prior to recording the Encumbrance agree (a) to give Lessee the same notice, if any, given to Lessor of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure of such Encumbrance, (b) to permit Lessee to appear with its representatives and to bid at any public foreclosure sale with respect to any such Encumbrance, Encumbrance and (c) agrees to release the Leased Property from the Encumbrance upon the exercise by Lessee of a right to purchase contained in this Lease and the payment by Lessee of the applicable purchase price, and (d) enters enter into an agreement with Lessee containing the provisions described in Article 33 XXXII of this Lease. Lessee agrees to execute and deliver to Lessor or the holder of an Encumbrance any written agreement required by this Article within ten days of written request thereof by Lessor or such the holder of an Encumbrance. Lessee hereby consents to the assignment of and grant of a security interest and lien in this Lease together with the other documents and instruments delivered to Lessor by Lessee pursuant hereto and in connection herewith (collectively, the "Assigned Documents"), including all rights of Lessor in, to and under each Assigned Document, by Lessor to any Facility Mortgagee requesting sameNationsBank of Georgia, National Association, as Agent (the "Agent") for itself and the other lenders from time to time parties to that certain Revolving Credit and Reimbursement Agreement dated as of June 22, 1994, among Lessor, the lenders party thereto (the "Lenders") and the Agent, as amended by that certain Amendment Agreement No. 1 to Revolving Credit and Reimbursement Agreement and Certain Other Loan Documents dated as of October 26, 1994, and by that certain Amendment Agreement No. 2 to Revolving Credit and Reimbursement Agreement and Certain Other Loan Documents dated as of March 17, 1995 (as so amended and as it may be further amended, modified or supplemented from time to time, the "Credit Agreement"), pursuant to which the Lenders have established a revolving credit facility and letter of credit facility in favor of Lessor. Lessee hereby further agrees to execute a Consent to Assignment in substantially the form attached hereto as Exhibit X. Xxxxxx shall E. Lessee further agrees that in connection --------- pay with the execution of any Encumbrance such assignment by Lessor, Lessee will execute and deliver to the Agent a tenant estoppel certificate in substantially the form attached hereto as and when due subject to any right granted Lessor in such Encumbrance to contest any obligation of Lessor or to withhold any payment or sum due under the Encumbrance.Exhibit ------- F. --

Appears in 1 contract

Samples: Lease Agreement (Ramsay Health Care Inc)

FINANCING OF THE LEASED PROPERTY. Lessor agrees that it will not grant or create any mortgage, deed of trust, lien, encumbrance or other title retention agreement upon the Leased Property to secure any indebtedness of Lessor (an "Encumbrance"), unless each the holder of each such an Encumbrance agrees shall simultaneously with or prior to recording the Encumbrance agree (a) to give Lessee the same notice, if any, given to Lessor of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure of such Encumbrance, (b) to permit Lessee to appear with its representatives and to bid at any public foreclosure sale with respect to any such Encumbrance, Encumbrance and (c) agrees to release the Leased Property from the Encumbrance upon the exercise by Lessee of a right to purchase contained in this Lease and the payment by Lessee of the applicable purchase price, and (d) enters enter into an agreement with Lessee containing the provisions described in Article 33 XXXIII of this Lease. Lessee agrees to execute and deliver to Lessor or the holder of an Encumbrance any written agreement required by this Article within ten days of written request thereof by Lessor or such the holder of an Encumbrance. Lessee hereby consents to the assignment of and grant of a security interest and lien in this Lease together with the other documents and instruments delivered to Lessor by Lessee pursuant hereto and in connection herewith (collectively, the "Assigned Documents"), including all rights of Lessor in, to and under each Assigned Document, by Lessor to any Facility Mortgagee requesting sameNationsBank of Georgia, National Association, as Agent (the "Agent") for itself and the other lenders from time to time parties to that certain Revolving Credit and Reimbursement Agreement dated as of June 22, 1994, among Lessor, the lenders party thereto (the "Lenders") and the Agent, as amended by that certain Amendment Agreement No. 1 to Revolving Credit and Reimbursement Agreement and Certain Other Loan Documents dated as of October 26, 1994, and by that certain Amendment Agreement No. 2 to Revolving Credit and Reimbursement Agreement and Certain Other Loan Documents dated as of March 17, 1995 (as so amended and as it may be further amended, modified or supplemented from time to time, the "Credit Agreement"), pursuant to which the Lenders have established a revolving credit facility and letter of credit facility in favor of Lessor. Lessee hereby further agrees to execute a Consent to Assignment in substantially the form attached hereto as Exhibit X. Xxxxxx shall E. Lessee further agrees that in connection with the execution --------- pay of any Encumbrance such assignment by Lessor, Lessee will execute and deliver to the Agent a tenant estoppel certificate in substantially the form attached hereto as and when due subject to any right granted Lessor in such Encumbrance to contest any obligation of Lessor or to withhold any payment or sum due under the Encumbrance.Exhibit ------- F. -

Appears in 1 contract

Samples: Lease Agreement (Ramsay Health Care Inc)

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