Lease Obligations Clause Samples

Lease Obligations. The Manager shall perform all duties of the landlord under all leases insofar as such duties relate to the operation, maintenance, and day-to-day management of the Properties. The Manager shall also provide or cause to be provided, at the Owner’s expense, all services normally provided to tenants of like premises, including, where applicable and without limitation, gas, electricity or other utilities required to be furnished to tenants under leases, normal repairs and maintenance, and cleaning and janitorial service. The Manager shall arrange for and supervise the performance of all installations and improvements in space leased to any tenant which are either expressly required under the terms of the lease of such space or which are customarily provided to tenants.

Lease Obligations. As further security for the indebtedness secured hereby, ▇▇▇▇▇▇▇▇▇ has, concurrently herewith, executed and delivered to Mortgagee the Assignment, wherein and whereby, among other things, ▇▇▇▇▇▇▇▇▇ has assigned to Mortgagee all of Grantor’s right, title and interest to the rents, issues and profits and any and all leases and the rights of management of the Mortgaged Premises, all as therein more specifically set forth, which Assignment is hereby incorporated herein by reference as fully and with the same effect as if set forth herein at length. ▇▇▇▇▇▇▇▇▇ agrees that it will duly perform and observe all of the terms and provisions on the landlord’s part to be performed and observed under any and all leases of the Mortgaged Premises and that it will refrain from any action or inaction which would result in the termination by the tenants thereunder of any such leases or in the diminution of the value thereof or of the rents, issues, profits and revenues thereunder. Nothing herein contained shall be deemed to obligate Mortgagee to perform or discharge any obligation, duty or liability of landlord under any lease of the Mortgaged Premises, and Mortgagor shall and does hereby agree to indemnify and hold Mortgagee harmless from any and all liability, loss or damage which Mortgagee may or might incur under any lease of the Mortgaged Premises or by reason of the Assignment; and any and all such liability, loss or damage incurred by Mortgagee, together with the costs and expenses, including reasonable attorneys’ fees, incurred by Mortgagee in the defense of any claims or demands therefor (whether successful or not), shall be so much additional indebtedness hereby secured, and ▇▇▇▇▇▇▇▇▇ shall reimburse Mortgagee therefor on demand, together with interest at a rate equal to twelve percent (12%) per annum or, if less, the highest legal rate permitted under applicable law, until paid. Mortgagor shall not lease or sublease any portion of the Mortgaged Premises without the prior written consent of Mortgagee, nor will Mortgagor permit or enter into any sublease, assignment, modification, amendment or termination of any prior approved lease or sublease without the prior written consent of Mortgagee; provided, however, that Mortgagee’s consent will not be required for any assignments, subleases or other transfers that may be completed by Tenant under the terms of the Lease as hereinafter defined) without the consent of Mortgagor.

Lease Obligations. Create, incur, assume or suffer to exist any obligations as lessee for the rental or lease of real or personal property, other than for the lease or rental of an office space or office equipment for use by the Seller in the ordinary course of its business.

Lease Obligations. Create, incur or suffer to exist, or permit any of its Subsidiaries to create, incur or suffer to exist, any obligations as lessee (i) for the payment of rent for any real or personal property in connection with any sale and leaseback transaction (other than any existing sale and leaseback transaction in effect on the Effective Date), or (ii) for the payment of rent for any real or personal property under leases or agreements to lease other than Operating Lease Obligations entered into in the ordinary course of business and Capitalized Lease Obligations otherwise permitted hereunder.

Lease Obligations. Create, incur, assume or suffer to exist any obligations as lessee for the rental or hire of real or personal Property of any kind under leases or agreements to lease having an original term of one year or more that would cause the direct and contingent liabilities of the Borrower and its Subsidiaries, on a consolidated basis, in respect of all such obligations to exceed $15.0 million payable in any period of 12 consecutive months.

Lease Obligations. The Loan Parties will not, and will not permit any of their Subsidiaries to, at any time create, incur or assume any obligations as lessee for the rental or hire of real or personal property in connection with any Sale and Leaseback Transaction other than (i) operating lease transactions for equipment paid for by such operating leases and (ii) any Sale and Leaseback Transactions permitted under Section 8.5(m).

Lease Obligations. Create or suffer to exist any obligations for the payment of rent for any Property under lease or agreement to lease, except: (a) leases in existence on the date hereof and any renewal, extension or refinancing thereof; and (b) leases (other than Capital Leases) entered into or assumed by Borrowers or any of their Subsidiaries after the date hereof in the Ordinary Course of Business.

Lease Obligations. 35 SECTION 6.33

Lease Obligations. Manager shall be Owner’s exclusive leasing agent for the Properties, and shall, to the extent permitted by applicable law and subject to this Agreement, perform all leasing functions relating to the Properties. Manager shall be paid for such leasing activities in conformity with this Agreement, which amounts shall be in addition to the compensation otherwise payable to Manager hereunder. Without limiting the generality of the foregoing, Manager’s leasing function includes the following: (a) Manager shall use commercially reasonable efforts to lease all space in the Properties which is now vacant, becomes vacant or is projected to become vacant during the term of this Agreement, subject to the limitations imposed by any Annual Business Plan approved by Owner, and Manager’s responsibilities shall include lease negotiation coordination, tenant improvement coordination, governmental liaison, opening activities, tenant liaison, facilitating tenant move-in and similar activities. Manager may, in its sole discretion, engage the services of other outside cooperating real estate consultants and brokers to lease space in the Properties on behalf of Owner and who shall be paid by Owner such commissions as may be included in the Annual Business Plan approved by Owner or are otherwise established by Owner and Manager from time to time. Manager shall, so far as possible, procure references from prospective tenants, investigate such references and use its best judgment in the selection of prospective tenants. Where appropriate, upon the occurrence of a vacancy or a projected vacancy, Manager will prepare and disseminate adequate rental listings. After a vacancy is listed, Manager will cooperate with brokers in an effort to aid in successfully filling the vacancy. Manager shall establish procedures to ensure that ample time is available to renew existing leases or obtain new tenants in an effort to minimize vacancies and loss of income. (b) Owner shall refer all inquiries concerning the rental of space in the Property to Manager. All negotiations with prospective tenants shall be conducted by Manager or under its direction. All leases for the Properties shall be prepared by Manager in the name of Owner and shall be in accordance with such leasing guidelines as Owner and Manager shall agree upon from time to time. Manager shall secure Owner’s prior written approval before finalizing any lease for a Property that is not in compliance with the leasing plan set forth in the A...