Common use of Lease Default Clause in Contracts

Lease Default. (i) Seller has not received any notice of --------------- termination or default under the Lease, (ii) there are no existing or uncured defaults by Seller or by the Tenant under the Lease, (iii) to the best of Seller's knowledge, there are no events which with the passage of time or notice, or both, would constitute a default by Seller or by the Tenant, and Seller has complied with each and every undertaking, covenant, and obligation of Seller under the Lease, and (iv) Tenant has not asserted any defense, set-off, or counterclaim with respect to its tenancy or its obligation to pay rent, additional rent, or other charges pursuant to the Lease.

Appears in 4 contracts

Samples: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc), Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc), Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)

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Lease Default. (i) Seller has not received any notice of --------------- termination or default under the LeaseLeases, (ii) there are no existing or uncured defaults by Seller or to Seller’s actual knowledge by the Tenant Tenants under the LeaseLeases, (iii) to the best of Seller's ’s actual knowledge, there are no events which with the passage of time or notice, or both, would constitute a default by Seller or by the TenantTenants, and Seller has complied with each and every undertaking, covenant, and obligation of Seller under the LeaseLeases required through the date hereof, and (iv) Tenant has the Tenants have not asserted any defense, set-off, or counterclaim with respect to its respective tenancy or its respective obligation to pay rent, additional rent, or other charges pursuant to the LeaseLeases.

Appears in 1 contract

Samples: Purchase Agreement (Wells Real Estate Fund Xiii L P)

Lease Default. (iI) Seller has not received any notice of --------------- termination or default under the Lease, (iiLease,(ii) there are no existing or uncured defaults by Seller or by the Tenant under the Lease, (iii) to the best of Seller's knowledge, there are no events which with the passage of time or notice, or both, would constitute a default by Seller or by the Tenant, and Seller has complied with each and every undertaking, covenant, and obligation of Seller under the Lease, and (iv) Tenant has not asserted any defense, set-off, or counterclaim with respect to its tenancy or its obligation to pay rent, additional rent, or other charges pursuant to the Lease.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)

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Lease Default. (i) Seller has not received any notice of --------------- termination or default under the Lease, (ii) there are no existing or uncured defaults by Seller or to Seller's actual knowledge by the Tenant under the Lease, (iii) to the best of Seller's actual knowledge, there are no events which with the passage of time or notice, or both, would constitute a default by Seller or by the Tenant, and Seller has complied with each and every undertaking, covenant, and obligation of Seller under the LeaseLease required through the date hereof, and (iv) Tenant has not asserted any defense, set-off, or counterclaim with respect to its tenancy or its obligation to pay rent, additional rent, or other charges pursuant to the Lease.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)

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