Lease Covenants. Throughout the term of the Lease, Guarantor shall comply with all requirements and covenants of the Lease applicable to Guarantor, including, without limitation, Article 14, §15.7 and Article 23.
Lease Covenants. Each Chargor shall not, in relation to any lease, agreement for lease or other right to occupy to which all or any part of the Real Property is at any time subject, do any act or thing whereby any lease or other document which gives any right to occupy any part of the Charged Property becomes or may become subject to determination or any right of re-entry or forfeiture prior to the expiration of its term.
Lease Covenants. Lessee warrants, covenants and represents to Lessor that prior to December 31, 1999, Karrington shall not undertake or accomplish any of the following: (a) buy back any of the stock of Karrington; (b) declare a dividend to Karrington stockholders; or (c) repay any loan or other indebtedness to any current or former directors, officers, shareholders or affiliates of Karrington; provided, however, that Karrington shall be allowed to do any of the foregoing only up to a total combined amount equal to or less than fifty percent (50%) of a total amount of equity funding actually received by Karrington from the Commencement Date through December 31, 1999. Notwithstanding the foregoing, Karrington shall be entitled, prior to December 31, 1999, to do any of the following: (d) repay to JMAC the Four Million Dollar ($4,000,000) bridge loan entered into on or about April 1, 1998, so long as the entire outstanding balance of such bridge loan has been used substantially in accordance with the use of proceeds attached to this Lease as Exhibit "D", (e) grant to JMAC the right to convert to equity in Karrington all or any portion of its existing debt to Karrington, in the approximate amount of Seven Million Five Hundred Thousand Dollars ($7,500,000); and (f) upon a Change of Control of Karrington, so long as the surviving entity at the conclusion of such Change of Control has a net worth of Twenty-Six Million Five Hundred Thousand Dollars ($26,500,000) or more and a debt to equity ratio of not more than four to one (4.0:1.0), Karrington shall be entitled to pay off any and all debts which it may have to JMAC. Lessee acknowledges and agrees that Lessor has entered into this Lease in material reliance on the foregoing warranties, covenants and representations (the "Lease Covenants"). Lessee further acknowledges that certain of the Lease Covenants concern the activities of Karrington rather than Lessee and that any violation or breach of any of the Lease Covenants, whether by Lessee or Karrington shall be an Event of Default hereunder.
Lease Covenants. Except as may be otherwise specifically set forth in the Agreement, Farmee hereby assumes and agrees to comply with all applicable covenants and obligations of the Leases (including, without limitation, the payment of lessor's royalty), together with any prior assignments thereof, agreements and/or other instruments pertaining to the Farmout Acreage, insofar as such covenants and obligations relate to such lands and the rights earned thereunder by Farmee.
Lease Covenants. (a) The Sellers shall obtain and deliver the Lease Estoppel and the Sublease Estoppel not later than five (5) days prior to the Closing.
Lease Covenants. Borrower shall comply with the financial covenants, and all other affirmative covenants applicable to Borrower as set forth in each Lease.
Lease Covenants. Each Borrower shall and shall cause Emeritus, acting in its capacity as the manager of the Facilities, to: (a) enforce the material obligations to be performed by the residents and non-residential tenants under the Leases; (b) promptly furnish to Administrative Agent any notice of default or termination received by such Borrower or Emeritus, acting in its capacity as the manager of the Facilities, from any non-residential tenant under any Material Non-Residential Lease, and any notice of default or termination given by such Borrower or Emeritus, acting in its capacity as the manager of the Facilities, to any non-residential tenant under any Material Non-Residential Lease; (c) not collect any rents for more than one month in advance of the time when the same shall become due, except for bona fide security deposits not in excess of an amount equal to two months’ rent; (d) not enter into any ground lease or master lease of any part of the Facilities; (e) not further assign or encumber any Lease; (f) not, except with Administrative Agent's prior written consent, which consent shall not be unreasonably withheld, cancel or accept surrender or termination of any Material Non-Residential Lease other than in accordance with the terms thereof; and (g) not, except with Administrative Agent's prior written consent, materially modify or amend any Material Non-Residential Lease, and any action in violation of clauses (d), (e), (f) and (g) of this Section 4.22 shall be void at the election of Administrative Agent. Borrowers will not suffer or permit any breach or default to occur in any of any of the obligations imposed on Borrowers or Emeritus, acting in its capacity as the manager of the Facilities, under any of the Leases nor suffer or permit the same to terminate by reason of any failure of any Borrower or Emeritus, acting in its capacity as the manager of the Facilities, to meet any requirement of any Lease, if such breach, default and/or termination would reasonably be expected to have a Material Adverse Effect.
Lease Covenants. Agent shall perform and observe all of the agreements and conditions set forth in paragraphs (ii)(a), (ii)(b), (ii)(c), (ii)(d) and (ii)(g) of Section 2 of the Lease as if set forth in full herein.
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Lease Covenants. Landlord agrees that the Leases shall not be modified or surrendered to Landlord or cancelled by Tenant, nor shall Landlord accept a surrender of the Consolidated Lease or the Intercoastal Lease without the prior written consent of the Agent, nor shall any merger result from the acquisition by, or devolution upon, any one entity of both the fee in the Premises and the leasehold estate. If the Leases shall terminate prior to the scheduled expiration dates, Landlord shall at the Agent’s sole election enter into a new lease for the Premises covered by the Leases with the Agent for the remainder of the then term thereof, effective as of the date of such termination at the same rent and upon the same terms, covenants and conditions contained therein on the condition that the Agent shall make a written request for such new lease within thirty (30) days after the date of its actual receipt of a notice of such termination or, if proceedings are commenced by or on behalf of Tenant within such thirty (30) day period that stay or extend the effective date of such termination, within ten (10) days of the date on which such termination is finally determined to be effective by a court of competent jurisdiction and on the commencement date of the term of the new lease, the Agent shall cure all defaults of Tenant under the Leases that are susceptible of being cured by the Agent and that remain uncured on such date and shall pay or cause to be paid all unpaid sums which at such time would have been payable under the Leases but for such termination (provided, that, the Agent shall only cure those defaults of which it is given notice and an opportunity to cure as provided in paragraph 3 above).
