Lease Approval. (i) Borrower has submitted to Funding Lender, and Funding Lender has approved, Borrower’s standard form of tenant lease for use in the Project. Borrower shall not materially modify that approved lease form without Funding Lender’s prior Written Consent in each instance, which consent shall not be unreasonably withheld or delayed. Borrower may enter into leases of space within the Improvements (and amendments to such leases) in the ordinary course of business with bona fide third party tenants without Funding Lender’s prior Written Consent if:
(A) The lease is a Permitted Lease, and is executed in the form attached as an exhibit to the Construction Funding Agreement without material modification;
(B) Borrower, acting in good faith following the exercise of due diligence, has determined that the tenant meets requirements imposed under any applicable CC&R and is financially capable of performing all of its obligations under the lease; and
(C) The lease conforms to the Rent Schedule attached as an exhibit to the Construction Funding Agreement and reflects an arm’s-length transaction, subject to the requirement that the Borrower comply with any applicable CC&R.
(ii) If any Event of Default has occurred and is continuing, Funding Lender may make written demand on Borrower to submit all future leases for Funding Lender’s approval prior to execution. Borrower shall comply with any such demand by Funding Lender.
(iii) No approval of any lease by Funding Lender shall be for any purpose other than to protect Funding Lender’s security for the Borrower Loan and to preserve Funding Lender’s rights under the Borrower Loan Documents and the Funding Loan Documents. No approval by Funding Lender shall result in a waiver of any default of Borrower. In no event shall any approval by Funding Lender of a lease be a representation of any kind with regard to the lease or its enforceability, or the financial capacity of any tenant or guarantor.
Lease Approval. This entire lease, in addition to any change, alteration, or renewal thereof, addendum, amendment, sublease or letter of understanding, is subject to prior approval by the Department of Administration.
Lease Approval. The under signed Director Flight Operations Standards hereby, approves airplane damp lease-in as detailed in the attached leased agreement based on the details A & B above in the damp Lease-in between Jordanian AOC holders and foreign AOC holders
Lease Approval. (a) Each of Parent and Borrower shall not, nor shall it permit any other Loan Party to, directly or indirectly, permit any Mortgagor to enter into or consent to any Major Lease unless approved by Administrative Agent prior to execution (such approval not to be unreasonably withheld or delayed). The applicable Mortgagor shall provide to Administrative Agent a correct and complete copy of each Major Lease, including any exhibits, and any Guarantees thereof, prior to execution. The Administrative Agent shall act on requests from Borrower for any approval under Section 8.11 in a commercially reasonable manner and shall use commercially reasonable efforts to respond to any such request within ten (10) Business Days following Administrative Agent’s receipt thereof. Administrative Agent’s response may consist of an approval or disapproval of the request, or a conditional approval thereof subject to specified conditions, or a request for further data or information, or any combination thereof. In order to expedite the processing of requests for such approvals, the Borrower agrees to provide Administrative Agent with as much advance information as is possible in a commercially reasonable manner in advance of Borrower’s formal request for an approval. If the request for approval contains printed in capital letters or boldface type, a legend substantially to the following effect: then in the event that the Administrative Agent does not approve, reject or request additional information regarding any such request for consent or acceptance within the later to occur of (a) ten (10) Business Days of the receipt by the Administrative Agent of such request and (a) ten (10) Business Days of the receipt by the Administrative Agent of all material information reasonably requested by the Administrative Agent during the ten (10) Business Day period following receipt of the request, the Administrative Agent shall be deemed to have approved or consented to the action requested in the request. Administrative Agent shall be provided, within ten (10) Business Days following execution thereof with a full and complete copy of the Lease.
(b) Administrative Agent shall have the right to require each tenant under a Major Lease to execute and deliver an SNDA in form, content and manner of execution reasonably acceptable to Administrative Agent and, from time to time, an estoppel certificate in form and manner of execution reasonably acceptable to Administrative Agent. Upon the Borrower’s r...
Lease Approval. This entire lease, in addition to any change, alteration, or renewal thereof, addendum, amendment, or letter of understanding, is subject to prior approval by the Department of Transportation legal department.
Lease Approval. Bank hereby consents and approves the Lease, including any amendments thereto existing as of the date hereof, and agrees that the exercise by Tenant of the rights, remedies and options provided for therein do not and shall not constitute a default under the Mortgage.
Lease Approval. Each of Parent and Borrower shall not, nor shall it permit any other Loan Party to, directly or indirectly, permit any Mortgagor to enter into any Major Lease unless approved by Administrative Agent prior to execution (such approval not to be unreasonably withheld or delayed). The applicable Mortgagor shall provide to Administrative Agent a correct and complete copy of each Major Lease, including any exhibits, and any Guarantees thereof, prior to execution.
Lease Approval. Each lease of the Premises to be entered into by Mortgagor shall be approved by the Mortgagee and shall be satisfactory to the Mortgagee in form and content. Each such lease at the election of the Mortgagee will be either superior or subordinate to the lien of the Mortgage and each tenant shall execute an appropriate subordination or attornment agreement as required by the Mortgagee. Also, to the extent required by the Mortgagee, each tenant shall execute an estoppel certificate and acknowledge receipt of a notice of the assignment of its lease, all satisfactory in form and content to the Mortgagee.
Lease Approval. Borrower acknowledges and agrees that the approval (directly or indirectly) of any Lease by Lender shall not be construed in any manner to create any liability or responsibility as to Lender in the event that the tenant thereunder should default or if such Lease does not provide the economic benefits anticipated by Borrower. The review of any Lease by Lender shall be solely for Lender’s own purposes, shall not constitute any representation by Lender as to the subject Lease or as to the tenant thereunder and may not and shall not be relied upon by Borrower in any manner. Borrower shall independently review and approve any Lease and the tenant thereunder prior to execution thereof by Borrower.
Lease Approval. You must obtain our approval of the lease of the Site (the “Lease”) before you sign it, or any renewal of it. You must deliver a copy of the signed lease to us within 5 days after its execution along with the Lease Assignment. You must not sign any lease or renewal of a lease unless you have also obtained the Lease Assignment signed by the lessor. Our review and approval of the Lease is solely to ensure that the Lease contains terms that we accept or require for our benefit and the franchise System; it is not a substitute for careful review and analysis by you and your advisors. Our approval of the Lease does not constitute warranty or any assurance that the Lease contains terms and conditions for your benefit. You agree and acknowledge that you are solely responsible for negotiating the Lease and ensuring that its terms and conditions meet your interests and objectives.
