Lease Issues. There are no legal proceedings commenced (or, to the best of the knowledge of the Borrower, threatened) against Borrower by any Existing Tenant; no rental in excess of one month's rent has been prepaid under any of the Existing Leases; each of the Leases is valid and binding on the parties thereto in accordance with its terms; and the execution of this Instrument and the other Loan Documents will not constitute an event of default under any of the Existing Leases.
Appears in 4 contracts
Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust), Open End Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust), Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust)
Lease Issues. There are no legal proceedings commenced (or, to the best of the knowledge of the any Borrower, threatened) against any Borrower or any Affiliate thereof by any Existing Tenant; no tenant or former tenant. No rental in excess of one month's ’s rent has been prepaid under any of the Existing Leases; each Leases (not including Security Deposits). Each of the Leases is valid and binding on the parties thereto in accordance with its terms; and the execution of this Instrument and the other Loan Documents will not constitute an event of default under any of the Existing Leases.
Appears in 2 contracts
Samples: Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)
Lease Issues. There are no legal proceedings commenced (or, to the best of the knowledge of the Borrower, threatened) against Borrower by any Existing Tenant; no rental in excess of one month's rent has been prepaid under any of the Existing Leases; each of the Leases is valid and binding on Borrower and, to the best of Borrower's knowledge, the other parties thereto in accordance with its terms; and the execution of this Instrument and the other Loan Documents will not constitute an event of default under any of the Existing Leases.
Appears in 1 contract
Samples: Mortgage, Assignment of Rents and Security Agreement (Gladstone Commercial Corp)
Lease Issues. There are no legal proceedings commenced (or, to the best of the knowledge of the Borrower, threatened) against Borrower by any Existing Tenant; no rental in excess of one month's rent has been prepaid under any of the Existing Leases; each of the Leases is valid and binding on the parties thereto in accordance with its terms; and the execution of this Instrument and the other Loan Documents will not constitute an event of default under any of the Existing Leases.
Appears in 1 contract
