Lease Covenants and Limitations. (a) Except as expressly contemplated by or permitted under Subsection 5.1(b) or Subsection 5.1(c), all New Leases (including, without limitation, any amendments, modifications or renewals of any Existing Leases or any other Lease) shall be subject to the prior review and approval of Lender, at Borrower's expense, which approval shall not, as long as there is no Event of Default, be unreasonably withheld or conditioned. Except as otherwise consented to by Lender or permitted by Sections 5.1(b) or 5.1(c), all Leases entered into after the Closing Date shall (a) be written on the Borrower's standard form of lease, which standard form shall have been approved by Lender (Lender acknowledging that the standard form of lease attached to the Borrower's Affidavit is hereby approved); (b) be at rental rates and on terms comparable to existing local market rates and terms and shall be arm's-length transactions with bona fide, independent third party tenants; and (c) provide that they are subordinate to the Deed of Trust and that the tenant agrees to attorn to Lender. In the event that Lender's approval is required for a New Lease, the failure of Lender to disapprove, within ten (10) Business Days following delivery by Borrower to Lender of a Lease Approval Package, shall constitute Lender's approval of the New Lease, provided such New Lease is documented pursuant to a New Lease or Lease modification agreement consistent with the draft and lease summary delivered to the Lender (in the Lease Approval Package) in all material respects. If the New Lease (including a Lease modification) has material changes from that which was presented in the Lease Approval Package, the failure of Lender to disapprove within five (5) Business Days following delivery by Borrower to Lender of a marked, revised New Lease (including a Lease modification) showing the changes from the draft previously submitted to Lender (in the Lease Approval Package) shall constitute Lender's approval of the revised New Lease (including a Lease modification). Borrower shall provide Lender with executed copies of all New Leases within thirty (30) days after execution thereof.
Lease Covenants and Limitations. (a) Except as otherwise set forth in this clause (a), Borrower shall not enter into any Lease or other occupancy agreement without the prior written consent of Lender, which consent may be granted or withheld in Lender’ sole and absolute discretion. If Lender shall approve a Lease, Borrower shall provide Lender with a complete copy of said Lease within ten (10) Business Days following its execution. Notwithstanding the foregoing in this clause (a), provided that no Event of Default shall have occurred and be continuing, Xxxxxx’s consent shall not be required prior to entering into any Lease for all or any portion of the Retail Unit, provided that:
Lease Covenants and Limitations. (a) Borrower shall not enter into any Lease or other occupancy agreement without the prior written consent of Lender, which consent may be granted or withheld in Lender’ sole and absolute discretion. If Lender shall approve a Lease, Borrower shall provide Lender with a complete copy of said Lease within ten (10) Business Days following its execution. Lender hereby approves the Master Lease and the Sublease.
Lease Covenants and Limitations. (a) Except with respect to New Leases or New Subleases that Hotel Manager has the right to enter into without Borrower’s or Master Tenant’s approval in accordance with the Management Agreement, all New Leases and New Subleases of space at the Hotel Property in excess of twenty thousand (20,000) net rentable square feet shall be subject to the prior review and approval of Lender at Borrower’s expense, which approval shall not be unreasonably withheld, conditioned or delayed. For any such New Lease or New Sublease requiring Lender approval, if, within ten (10) Business Days after Lender’s receipt of Borrower’s written request for such approval stating: (i) “TIME SENSITIVE RESPONSE REQUIRED WITHIN TEN (10) BUSINESS DAYS OF RECEIPT OR DEEMED APPROVAL MAY OCCUR”, together with the following: (1) a true and complete copy of the proposed final New Lease or New Sublease, including any amendments, exhibits and side agreements relating thereto, (2) a lease summary describing in reasonable detail all material terms, and (3) a description of material financial terms of the proposed tenants, including any available tenant financial statements or credit reports (collectively, the “Lease Approval Package”), Lender does not approve or disapprove such New Lease or New Sublease (disapproval
Lease Covenants and Limitations. (a) Except as otherwise set forth in this clause (a), Borrower shall not cause or permit Mortgage Borrower to enter into any Lease or other occupancy agreement without the prior written consent of Administrative Agent, which consent may be granted or withheld in Administrative Agent’s sole and absolute discretion; provided, that if Mortgage Lender shall have consented to such Lease, Administrative Agent’s consent to such Lease shall not be unreasonably withheld, delayed or conditioned. If Administrative Agent shall approve a Lease, Borrower shall provide Administrative Agent with a complete copy of said Lease within ten (10) Business Days following its execution. Notwithstanding the foregoing in this clause (a), provided that no Event of Default shall have occurred and be continuing, Administrative Agent’s consent shall not be required prior to entering into any Lease for all or any portion of the Retail Unit, provided that:
Lease Covenants and Limitations. (a) Subject to Section 7.1(c) below, Borrower shall not cause or permit Mortgage Borrower to enter into any Lease or other occupancy agreement without the prior written consent of Administrative Agent, which consent may be granted or withheld in Administrative Agent’s sole and absolute discretion; provided, that if Mortgage Lender shall have consented to such Lease, Administrative Agent’s consent to such Lease shall not be unreasonably withheld, delayed or conditioned. If Administrative Agent shall approve a Lease, Borrower shall provide Administrative Agent with a complete copy of said Lease within ten (10) Business Days following its execution.
