Common use of Ground Leases Clause in Contracts

Ground Leases. With respect to any ground lease to which a Mortgaged Property may be subject: (A) the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (B) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise; (C) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the related Closing Date; (D) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate; (E) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances which, with the passage of time or the giving of notice, or both, would result in a default under such ground lease; (F) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed; (G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the related Closing Date pursuant to the terms of such ground lease; (H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease; and (I) the term of such lease does not terminate earlier than five (5) years after the maturity date of the Mortgage Note.

Ground Leases. With respect to those Real Property Assets in which the Borrower or any ground lease other Consolidated Entity holds a leasehold estate under a Ground Lease, with respect to which a Mortgaged Property may be subject: each such Ground Lease (Ai) the Mortgagor Borrower or the respective Consolidated Entity is the owner of a valid and subsisting leasehold interest as tenant under such ground leasethe Ground Lease; (Bii) such ground lease the Ground Lease is in full force and effect, unmodified and not supplemented by any writing or otherwise; (Ciii) all rent, additional rent and other charges reserved therein have been fully paid to the extent they are payable as to the date hereof; (iv) the remaining term of the related Closing Ground Lease is at least ten (10) years after the Facility Termination Date; (Dv) the Mortgagor Borrower or the respective Consolidated Entity enjoys the quiet and peaceful possession of the leasehold estateestate demised thereby, subject to any sublease; (Evi) the Mortgagor Borrower or the respective Consolidated Entity is not in default under any of the terms of such ground lease, thereof and there are no circumstances which, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground leasethereunder; (Fvii) the lessor under such ground lease the Ground Lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed; (Gviii) the lessor under such ground lease the Ground Lease has satisfied any all of its repair or construction obligations due as of the related Closing Date obligations, if any, to date pursuant to the terms of such ground leasethe Ground Lease; (Hix) Schedule 9 lists all the execution, delivery and performance Ground Leases to which any of the Mortgage do not require the consent (other than those consents which have been obtained Real Property Assets is subject and are in full force all amendments and effect) under, and will not contravene any provision of or cause a default under, such ground leasemodifications thereto; and (Ix) the term of such lease does not terminate earlier than five (5) years after lessor identified on Schedule 9 for each Ground Lease is the maturity date of current lessor under the Mortgage Noterelated Ground Lease.

Ground Leases. With respect to any ground lease to which a Mortgaged Property may be subject: (A) the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (B) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise; (C) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the related Closing Date; (D) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate; (E) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances which, with the passage of time or the giving of notice, or both, would result in a default under such ground lease; (F) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed; (G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the related Closing Date pursuant to the terms of such ground lease; (H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease; and (I) the term of such lease does not terminate earlier than five (5) years after the maturity date of the Mortgage Note.

Ground Leases. With respect Schedule 5.1(g) contains a true, complete and correct list and description of certain key terms of each of the Ground Leases at the Leasehold Properties, true, complete and correct copies of which have been made available to any ground lease Purchaser. Except as contained on Schedule 5.1(g): (i) to which a Mortgaged Property may be subject: (A) such Seller's Knowledge, each owner, lessor or easement grantor under each Ground Lease has good and marketable title to the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground leasecorresponding Property; (Bii) such ground lease each Ground Lease is in full force and effect, unmodified has not been modified or amended, and not supplemented by there is no action to revoke, cancel, renegotiate or adversely affect in any writing or otherwisemanner any Ground Lease; (Ciii) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the related Closing Date; (D) the Mortgagor enjoys the quiet and peaceful such Seller is in actual possession of the leasehold estatepremises under the Ground Leases; (Eiv) there are no material defaults thereunder by such Seller or, to such Seller's Knowledge, by the Mortgagor applicable owner, lessor thereunder, or easement grantor; (v) such Seller has not received any notices from or given notice to any owner, lessor or easement grantor claiming that the other party is not in default under any of the terms of Ground Leases and to such ground leaseSeller's Knowledge, and there are is no circumstances whichevent, with the giving of notice or the passage of time or the giving of notice, or both, would result in constitute such a default under such ground leasedefault; (Fvi) there are no existing disputes regarding the lessor computation and payment of fees or other lease payments under the Ground Leases or any other material provisions thereunder; (vii) such ground lease is not Seller has performed its obligations and paid the rent and such other payments set forth in default or required to be paid under its Ground Leases on a current basis and there are no material past due amounts; (viii) such Seller has no obligation to pay any additional rent or charges to any of the terms owners, lessors or provisions of such ground lease on easement grantors under any Ground Lease except as set forth in the part of the lessor to be observed or performed; (G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the related Closing Date pursuant to the terms of such ground lease; (H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground leaseapplicable Ground Lease; and (Iix) the term of such lease does not terminate earlier than five (5) years after the maturity date there is no non-monetary rent or other consideration payable to any of the Mortgage Noteowners, lessors or easement grantors.

Ground Leases. With respect to any ground lease to which a Mortgaged Property may be subject: (A) the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (B) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise; (C) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the related Closing Date; (D) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate; (E) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances which, with the passage of time or the giving of notice, or both, would result in a default under such ground lease; (F) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed; (G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the related Closing Date pursuant to the terms of such ground lease; (H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease; and (I) the term of such lease does not terminate earlier than [five (5) years after after] the maturity date of the Mortgage Note.

Ground Leases. With respect to any ground lease those Real Property Assets in which the related Owner holds a leasehold estate under a Ground Lease, with respect to which a Mortgaged Property each such Ground Lease (except as may be subject: set forth on Schedule 8) (Ai) the Mortgagor is Guarantor the owner of a valid and subsisting leasehold interest as tenant under such ground leasethe Ground Lease; (Bii) such ground lease the Ground Lease is in full - 44 - 51 force and effect, unmodified and not supplemented by any writing or otherwise; (Ciii) all rent, additional rent and other charges reserved therein have been fully paid to the extent they are payable as of to the related Closing Datedate hereof; (Div) the Mortgagor Owner enjoys the quiet and peaceful possession of the leasehold estateestate demised thereby, subject to any sublease; (Ev) the Mortgagor Owner is not in default under any of the terms of such ground lease, thereof and there are no circumstances which, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground leasethereunder; (Fvi) the lessor under such ground lease the Ground Lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed; (Gvii) the lessor under such ground lease the Ground Lease has satisfied any all of its repair or construction obligations due as of the related Closing Date obligations, if any, to date pursuant to the terms of such ground leasethe Ground Lease; (Hviii) the execution, delivery and performance of the Mortgage do Security Agreement does not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground leasethe Ground Lease; (ix) Schedule 8 lists all the Ground Leases to which any of the Real Property Assets are subject and all amendments and modifications thereto; and (Ix) the term of such lease does not terminate earlier than five (5) years after lessor indicated on Schedule 8 for each Ground Lease is the maturity date of current lessor under the Mortgage Noterelated Ground Lease.