Common use of Lease Provisions Clause in Contracts

Lease Provisions. Mortgagor covenants and agrees ---------------- specifically with respect to each Lease, and the leasehold estate created thereunder that: (a) In case any proceeds of insurance upon the Land, the Mortgaged Property or any part thereof are deposited with any person other than the Mortgagee pursuant to the requirements of the Lease, then, upon Mortgagor obtaining knowledge of same, Mortgagor will promptly notify the Mortgagee in writing of the name and address of the person with whom such proceeds have been deposited and the amount so deposited. (b) Mortgagor will promptly notify the Mortgagee in writing of any request made by either party to a Material Lease to the other party thereto for arbitration or appraisal proceedings pursuant to such Lease, and of the institution of any arbitration or appraisal proceedings and promptly deliver to Mortgagee a copy of the determination of the arbitrators or appraisers in each such proceeding. (c) As further security for the Secured Indebtedness, Mortgagor hereby agrees to deposit with the Mortgagee a fully executed counterpart of the Lease and all supplements thereto and amendments thereof, in each case if and to the extent Mortgagor possesses such documents, to be retained by the Mortgagee until the Secured Indebtedness secured hereby is fully paid or until this Mortgage is released in accordance with the terms of the Credit Agreement. (d) As to any Material Lease relating to all or any portion of the Mortgaged Property, Mortgagor shall (i) as and to the extent required under the Credit Agreement, appear in and defend any action or proceeding arising under or in any manner connected with such Lease or the obligations of Mortgagor as lessor thereunder; (ii) exercise, within ten (10) days after a request by Mortgagee, any right to request from the lessee a certificate with respect to the status thereof; (iii) deliver to Mortgagee upon Mortgagee's request, a written statement, certified by Mortgagor as being true, correct and complete, to the best of Mortgagor's knowledge, containing the names of all lessees under Material Leases affecting the Mortgaged Property, the terms of all such Leases and the spaces occupied and rentals payable thereunder, and a list of all Material Leases which are then in default, including the nature and magnitude of such default. (e) All Leases entered into by Mortgagor after the date hereof, and all rights of any lessees thereunder shall be subject and subordinate in all respects to the lien and provisions of this Mortgage unless Mortgagee shall otherwise elect in writing; provided, however, that Mortgagee hereby agrees to the inclusion in all such Leases of a customary recognition and non-disturbance provision to the effect that Mortgagee (and any Person succeeding to the interest of Mortgagee under this Mortgage) will not disturb the applicable lessee's occupancy of the Mortgaged Property, or any other rights of such lessee under the applicable Lease, so long as the lessee is not in default under said Lease (after the expiration of all applicable cure periods). (f) All Leases entered into by Mortgagor after the date hereof shall provide that if any act or omission of Mortgagor would give any lessee under any such Lease the right, immediately or after lapse of a period of time, to cancel or terminate such Lease, or to xxxxx or offset against the payment of rent or to claim a partial or total eviction, such lessee shall not exercise such right until it has given written notice of such act or omission to Mortgagee and until a reasonable period for remedying such act or omission shall have elapsed following the giving of such notice without a remedy being effected. (g) All Leases entered into by Mortgagor after the date hereof shall provide that in the event of the enforcement by Mortgagee of any remedy under this Mortgage, the lessee under each such Lease shall at Mortgagee's option attorn to Mortgagee (or to any other Person succeeding to the interest of Mortgagee as a result of such enforcement) and recognize Mortgagee or such successor in interest as lessor under the Lease without change in the provisions thereof; provided, however, Mortgagee or such successor in interest shall not be: (i) bound by any payment of an installment of rent or additional rent which may have been made more than thirty (30) days before the due date of such installment; (ii) bound by any amendment or modification to the Lease made without the consent of Mortgagee or such successor in interest; (iii) liable for any previous act or omission of Mortgagor (or its predecessors in interest); (iv) responsible for any monies owing by Mortgagor to the credit of such lessee or subject to any credits, offsets, claims, counterclaims, demands or defenses which the lessee may have against Mortgagor (or its predecessors in interest); (v) bound by any covenant to undertake or complete any construction of the premises demised under any Lease or any portion thereof; or (vi) obligated to make any payment to such lessee other than any security deposit actually delivered to Mortgagee or such successor in interest. Each such Lease shall provide that each lessee or other occupant, upon request by Mortgagee or such successor in interest, shall execute and deliver an instrument or instruments confirming such attornment and non-disturbance.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Assignment of Rents (Ventas Inc)

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Lease Provisions. Mortgagor Grantor covenants and agrees ---------------- specifically with respect to each Lease, and the leasehold estate created thereunder that: (a) In case any proceeds of insurance upon the Land, the Mortgaged Trust Property or any part thereof are deposited with any person other than the Mortgagee Beneficiary pursuant to the requirements of the Lease, then, upon Mortgagor Grantor obtaining knowledge of same, Mortgagor Grantor will promptly notify the Mortgagee Beneficiary in writing of the name and address of the person with whom such proceeds have been deposited and the amount so deposited. (b) Mortgagor Grantor will promptly notify the Mortgagee Beneficiary in writing of any request made by either party to a Material Lease to the other party thereto for arbitration or appraisal proceedings pursuant to such Lease, and of the institution of any arbitration or appraisal proceedings and promptly deliver to Mortgagee Beneficiary a copy of the determination of the arbitrators or appraisers in each such proceeding. (c) As further security for the Secured Indebtedness, Mortgagor Grantor hereby agrees to deposit with the Mortgagee Beneficiary a fully executed counterpart of the Lease and all supplements thereto and amendments thereof, in each case if and to the extent Mortgagor Grantor possesses such documents, to be retained by the Mortgagee Beneficiary until the Secured Indebtedness secured hereby is fully paid or until this Mortgage Deed of Trust is released in accordance with the terms of the Credit Agreement. (d) As to any Material Lease relating to all or any portion of the Mortgaged Trust Property, Mortgagor Grantor shall (i) as and to the extent required under the Credit Agreement, appear in and defend any action or proceeding arising under or in any manner connected with such Lease or the obligations of Mortgagor Grantor as lessor thereunder; (ii) exercise, within ten (10) days after a request by MortgageeBeneficiary, any right to request from the lessee a certificate with respect to the status thereof; (iii) deliver to Mortgagee Beneficiary upon MortgageeBeneficiary's request, a written statement, certified by Mortgagor Grantor as being true, correct and complete, to the best of MortgagorGrantor's knowledge, containing the names of all lessees under Material Leases affecting the Mortgaged Trust Property, the terms of all such Leases and the spaces occupied and rentals payable thereunder, and a list of all Material Leases which are then in default, including the nature and magnitude of such default. (e) All Leases entered into by Mortgagor Grantor after the date hereof, and all rights of any lessees thereunder shall be subject and subordinate in all respects to the lien and provisions of this Mortgage Deed of Trust unless Mortgagee Beneficiary shall otherwise elect in writing; provided, however, that Mortgagee Beneficiary hereby agrees to the inclusion in all such Leases of a customary recognition and non-disturbance provision to the effect that Mortgagee Beneficiary (and any Person succeeding to the interest of Mortgagee Beneficiary under this MortgageDeed of Trust) will not disturb the applicable lessee's occupancy of the Mortgaged Trust Property, or any other rights of such lessee under the applicable Lease, so long as the lessee is not in default under said Lease (after the expiration of all applicable cure periods). (f) All Leases entered into by Mortgagor Grantor after the date hereof shall provide that if any act or omission of Mortgagor Grantor would give any lessee under any such Lease the right, immediately or after lapse of a period of time, to cancel or terminate such Lease, or to xxxxx or offset against the payment of rent or to claim a partial or total eviction, such lessee shall not exercise such right until it has given written notice of such act or omission to Mortgagee and until a reasonable period for remedying such act or omission shall have elapsed following the giving of such notice without a remedy being effected. (g) All Leases entered into by Mortgagor after the date hereof shall provide that in the event of the enforcement by Mortgagee of any remedy under this Mortgage, the lessee under each such Lease shall at Mortgagee's option attorn to Mortgagee (or to any other Person succeeding to the interest of Mortgagee as a result of such enforcement) and recognize Mortgagee or such successor in interest as lessor under the Lease without change in the provisions thereof; provided, however, Mortgagee or such successor in interest shall not be: (i) bound by any payment of an installment of rent or additional rent which may have been made more than thirty (30) days before the due date of such installment; (ii) bound by any amendment or modification to the Lease made without the consent of Mortgagee or such successor in interest; (iii) liable for any previous act or omission of Mortgagor (or its predecessors in interest); (iv) responsible for any monies owing by Mortgagor to the credit of such lessee or subject to any credits, offsets, claims, counterclaims, demands or defenses which the lessee may have against Mortgagor (or its predecessors in interest); (v) bound by any covenant to undertake or complete any construction of the premises demised under any Lease or any portion thereof; or (vi) obligated to make any payment to such lessee other than any security deposit actually delivered to Mortgagee or such successor in interest. Each such Lease shall provide that each lessee or other occupant, upon request by Mortgagee or such successor in interest, shall execute and deliver an instrument or instruments confirming such attornment and non-disturbance.of

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Ventas Inc)

Lease Provisions. Mortgagor Grantor covenants and agrees ---------------- specifically with respect to each Lease, and the leasehold estate created thereunder that: (a) In case any proceeds of insurance upon the Land, the Mortgaged Property or any part thereof are deposited with any person other than the Mortgagee pursuant to the requirements of the Lease, then, upon Mortgagor obtaining knowledge of same, Mortgagor Grantor will promptly notify the Mortgagee in writing of the name and address of the person with whom such proceeds have been deposited and the amount so deposited. (b) Mortgagor Grantor will promptly notify the Mortgagee in writing of any request made by either party to a Material Lease to the other party thereto for arbitration or appraisal proceedings pursuant to such Lease, and of the institution of any arbitration or appraisal proceedings and promptly deliver to Mortgagee a copy of the determination of the arbitrators or appraisers in each such proceeding. (c) As further security for the Secured Indebtedness, Mortgagor Grantor hereby agrees to deposit with the Mortgagee a fully executed counterpart of the Lease and all supplements thereto and amendments thereof, in each case if and to the extent Mortgagor Grantor possesses such documents, to be retained by the Mortgagee until the Secured Indebtedness secured hereby is fully paid Bank Credit Termination Date or until this Mortgage is otherwise discharged and released in accordance with the terms of the Credit Agreement. (d) As to any Material Lease relating to all or any portion of the Mortgaged Property, Mortgagor Grantor shall (i) as and to the extent required under the provisions of Section 5.8 of the Credit Agreement, appear in and defend any action or proceeding arising under or in any manner connected with such Lease or the obligations of Mortgagor Grantor as lessor thereunder; (ii) exercise, within ten (10) days after a request by Mortgagee, any right to request from the lessee a certificate with respect to the status thereof; (iii) deliver to Mortgagee upon Mortgagee's request, a written statement, certified by Mortgagor Grantor as being true, correct and complete, to the best of MortgagorGrantor's knowledge, containing the names of all lessees under Material Leases affecting the Mortgaged Property, the terms of all such Leases and the spaces occupied and rentals payable thereunder, and a list of all Material Leases which are then in default, including the nature and magnitude of such default. (e) All Leases entered into by Mortgagor Grantor after the date hereof, and hereof shall provide that all rights of any lessees thereunder shall be subject and subordinate in all respects to the lien and provisions of this Mortgage unless Mortgagee shall otherwise elect in writing. With respect to such Leases, Grantor shall use all commercially reasonable efforts to deliver to Mortgagee as soon as reasonably practicable after the effective date of such Leases, executed and acknowledged subordination, non-disturbance and attornment agreements and estoppel certificates, in form and substance reasonably satisfactory to Mortgagee and Grantor; provided, however, that Mortgagee hereby agrees to the inclusion in all such Leases commercially reasonable efforts shall not be construed as requiring payment of a customary recognition any consent fee or other consideration for any third party's execution and non-disturbance provision to the effect that Mortgagee (and any Person succeeding to the interest delivery of Mortgagee under this Mortgage) will not disturb the applicable lessee's occupancy of the Mortgaged Property, or any other rights of such lessee under the applicable Lease, so long as the lessee is not in default under said Lease (after the expiration of all applicable cure periods). (f) All Leases entered into by Mortgagor after the date hereof shall provide that if any act or omission of Mortgagor would give any lessee under any such Lease the right, immediately or after lapse of a period of time, to cancel or terminate such Lease, or to xxxxx or offset against the payment of rent or to claim a partial or total eviction, such lessee shall not exercise such right until it has given written notice of such act or omission to Mortgagee and until a reasonable period for remedying such act or omission shall have elapsed following the giving of such notice without a remedy being effectedagreement. (g) All Leases entered into by Mortgagor after the date hereof shall provide that in the event of the enforcement by Mortgagee of any remedy under this Mortgage, the lessee under each such Lease shall at Mortgagee's option attorn to Mortgagee (or to any other Person succeeding to the interest of Mortgagee as a result of such enforcement) and recognize Mortgagee or such successor in interest as lessor under the Lease without change in the provisions thereof; provided, however, Mortgagee or such successor in interest shall not be: (i) bound by any payment of an installment of rent or additional rent which may have been made more than thirty (30) days before the due date of such installment; (ii) bound by any amendment or modification to the Lease made without the consent of Mortgagee or such successor in interest; (iii) liable for any previous act or omission of Mortgagor (or its predecessors in interest); (iv) responsible for any monies owing by Mortgagor to the credit of such lessee or subject to any credits, offsets, claims, counterclaims, demands or defenses which the lessee may have against Mortgagor (or its predecessors in interest); (v) bound by any covenant to undertake or complete any construction of the premises demised under any Lease or any portion thereof; or (vi) obligated to make any payment to such lessee other than any security deposit actually delivered to Mortgagee or such successor in interest. Each such Lease shall provide that each lessee or other occupant, upon request by Mortgagee or such successor in interest, shall execute and deliver an instrument or instruments confirming such attornment and non-disturbance.

Appears in 1 contract

Samples: Mortgage (Ventas Inc)

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Lease Provisions. Mortgagor covenants The terms and provisions of the Lease are hereby amended and supplemented. In the event of any conflict between the provisions of the Lease and the provisions of this Work Letter, the provisions of this Work Letter shall control. The pursuit of any remedies by Tenant in connection with any breach by Landlord of its obligations under this Work Letter shall be subject to the provisions of Paragraph 11 hereof and subject to any other limitations stated in the Lease. 1. The sidewalks, passages and stairways, if any, shall not be obstructed by Tenant or used for any purpose other than for ingress to and egress from the Premises. The passages, entrances, stairways, if any, balconies, if any, and roof are not for the use of the general public, and Landlord shall in all cases retain the right to control and prevent access thereto of all persons whose presence in the judgment of Landlord shall be prejudicial to the safety, character, reputation and interests to the Building and its tenants; provided that nothing herein contained shall be construed to prevent such access to person with whom Tenant normally deals in the ordinary course of its business unless such persons are engaged in illegal activities. Tenant and its employees shall not go upon the roof of the Building without the written consent of the Landlord. 2. The sashes, sash doors, windows, glass lights and any lights or skylights that reflect or admit light into halls, from the building exterior or other places into the building shall not be covered or obstructed. Any curtains, blinds, shades, or screens attached or hung to any of the prior mentioned areas must have prior approval of Landlord. Landlord will provide standard window coverings on exterior windows and other glass if appropriate and Landlord reserves the right to regulate position of such coverings. 3. In case of invasion, riot, public excitement or other commotion, Landlord reserves the right to prevent access to the Building during the continuance of same. Landlord shall in no case be liable for damages for the admission or exclusion of any person to or from the Building. Landlord has the right to evacuate the Building in the event of an emergency or catastrophe. 4. Two door keys for doors to leased premises shall be furnished at the commencement of a lease by Landlord. All duplicate keys shall be purchased only from the Landlord. One security card per each of Tenant’s employees so authorized by Tenant will be issued for all approved personnel to permit after-hour access, and Landlord reserves the right to assess a fee to Tenant for the replacement of lost keys or cards. Tenant shall not alter any lock, or install new or additional locks or bolts, on any door without the prior written approval of Landlord. In the event such alteration or installation is approved by Landlord, Tenant shall supply Landlord with a key for any such lock or bolt. Tenant, upon the termination of the tenancy, shall deliver to Landlord all the keys, locks, bolts, cabinets, safes or vaults, or the means of opening any lockable device and security cards of offices, rooms and toilet rooms which shall have been furnished Tenant or which Tenant shall have had made, and in the event of loss of any keys or security cards so furnished shall pay the Landlord therefor. 5. All deliveries, including intra-company deliveries, must be made via service entrances. Tenant agrees ---------------- to adhere to floor loading maximum levels as stated by Landlord. All damage done to the Building by the delivery or removal of such items, or by reason of their presence in the Building, shall be paid to Landlord upon demand by Tenant and shall constitute Additional Rent under the Lease. 6. Parking area and parking policies will be established by Landlord, and Tenant agrees to adhere to said policies. UPON A COMPLAINT BY TENANT AND OTHER TENANTS OF THE BUILDING AND AT ANY OTHER TIME, Landlord reserves the right to IMPLEMENT AND institute new parking policies as they are determined to benefit overall Building operations. Tenant agrees to leave no cars, vans or other vehicles overnight or over any weekend in any parking area. Tenant further agrees that its employees will not park in the visitor parking areas at any time. 7. If Tenant desires signal, communication, alarm or other utility or service connection installed or changed, the same shall be made at the expense of Tenant, with approval and under direction of Landlord, it being understood and agreed that (a) no audible alarm shall be installed unless specifically with respect approved in writing by Landlord prior to each Leaseinstallation; and (b) only Tenant shall be obligated to respond to such signal, communication, alarm or other utility or service connection, and none of Landlord, Landlord’s Managing Agent or other employee, agent or contractor of Landlord shall, under any circumstances have any obligation to Tenant or others to respond to such alarm or be liable to Tenant or any party claiming by or through Tenant for any failure to do so. Any installations, and the leasehold estate created thereunder that:boring or cutting for wires, shall be made at the sole cost and expense of Tenant and under control and direction of Landlord. Landlord retains in all cases the right to require (x) the installation and use of such electrical-protecting devices that prevents the transmission of excessive current or electricity into or transmission of excessive current or electricity into or through the Building (y) the changing of wires and of their installation and arrangement underground or otherwise as Landlord may direct, and (z) compliance on the part of all using or seeking access to such wires with such rules as Landlord may establish relating thereto. All such wires used by Tenant must be clearly tagged at the distribution boards and junction box and elsewhere in the Building, with (h) the number of the Premises to which said wires lead, (i) the purpose for which said wires are used and j) the name of the company operating same. Tenant agrees to instruct all approved communication, and computer and other cabling installers to attach cable in wire hangers from the deck or in any designated building floor or ceiling system cable location. Tenant will not allow installers to lay any cabling on top of the suspended layer ceiling system. (a) In case any proceeds 8. Tenant shall give Landlord prompt notice of insurance upon the Landall accidents to or defects in air conditioning equipment, the Mortgaged Property plumbing, electrical facilities or any part thereof are deposited with any person of appurtenances of the Premises. 9. Tenant assumes full responsibility for protecting its space from theft, robbery, and pilferage, which includes keeping doors locked and other than the Mortgagee pursuant means of entry to the requirements space closed and secured. Landlord shall be in no way responsible to Tenant, its agents, employees, licensees, contractors or invitees for any loss of property from the Premises or public areas or for any damages to any property thereon front any cause whatsoever. 10. Tenant shall not install or operate machinery or any mechanical devices of a nature not directly related to Tenant’s ordinary use of the LeasePremises without the prior written permission of the Landlord. Tenant shall not place in or move about the Premises any safe or other heavy article which, thenin Landlord’s reasonable opinion may damage the Premises (including the slab) or overload the floor of the Premises, upon Mortgagor obtaining knowledge shall not xxxx on or drive nails, screw or drill into the partitions, woodwork or plaster (except as may be incidental to the hanging of samewall decorations) and shall not in any way deface the Premises or any part thereof. 11. No person or contractor not employed by Landlord shall be used to perform window washing, Mortgagor will promptly notify decorating, repair or other work in the Mortgagee in writing leased Premises without the express written consent of Landlord. 12. The directories of the Building shall be used exclusively for the display of the name and address location only of the person with whom such proceeds have been deposited and tenants of the amount so deposited. (b) Mortgagor will promptly notify the Mortgagee in writing of any request made by either party to a Material Lease to the other party thereto for arbitration or appraisal proceedings pursuant to such LeaseBuilding, including Tenant, and will be provided at the expense of the institution of any arbitration or appraisal proceedings and promptly deliver to Mortgagee a copy of the determination of the arbitrators or appraisers in each such proceeding. (c) As further security for the Secured Indebtedness, Mortgagor hereby agrees to deposit with the Mortgagee a fully executed counterpart of the Lease and all supplements thereto and amendments thereof, in each case if and to the extent Mortgagor possesses such documents, Landlord. Any additional names requested by Tenant to be retained by the Mortgagee until the Secured Indebtedness secured hereby is fully paid or until this Mortgage is released in accordance with the terms of the Credit Agreement. (d) As to any Material Lease relating to all or any portion of the Mortgaged Property, Mortgagor shall (i) as and to the extent required under the Credit Agreement, appear in and defend any action or proceeding arising under or in any manner connected with such Lease or the obligations of Mortgagor as lessor thereunder; (ii) exercise, within ten (10) days after a request by Mortgagee, any right to request from the lessee a certificate with respect to the status thereof; (iii) deliver to Mortgagee upon Mortgagee's request, a written statement, certified by Mortgagor as being true, correct and complete, to the best of Mortgagor's knowledge, containing the names of all lessees under Material Leases affecting the Mortgaged Property, the terms of all such Leases and the spaces occupied and rentals payable thereunder, and a list of all Material Leases which are then in default, including the nature and magnitude of such default. (e) All Leases entered into by Mortgagor after the date hereof, and all rights of any lessees thereunder shall be subject and subordinate in all respects to the lien and provisions of this Mortgage unless Mortgagee shall otherwise elect in writing; provided, however, that Mortgagee hereby agrees to the inclusion in all such Leases of a customary recognition and non-disturbance provision to the effect that Mortgagee (and any Person succeeding to the interest of Mortgagee under this Mortgage) will not disturb the applicable lessee's occupancy of the Mortgaged Property, or any other rights of such lessee under the applicable Lease, so long as the lessee is not in default under said Lease (after the expiration of all applicable cure periods). (f) All Leases entered into by Mortgagor after the date hereof shall provide that if any act or omission of Mortgagor would give any lessee under any such Lease the right, immediately or after lapse of a period of time, to cancel or terminate such Lease, or to xxxxx or offset against the payment of rent or to claim a partial or total eviction, such lessee shall not exercise such right until it has given written notice of such act or omission to Mortgagee and until a reasonable period for remedying such act or omission shall have elapsed following the giving of such notice without a remedy being effected. (g) All Leases entered into by Mortgagor after the date hereof shall provide that displayed in the event directories must be approved by Landlord and, if approved, will be provided at the sole expense of the enforcement by Mortgagee of any remedy under this Mortgage, the lessee under each such Lease shall at Mortgagee's option attorn to Mortgagee (or to any other Person succeeding to the interest of Mortgagee as a result of such enforcement) and recognize Mortgagee or such successor in interest as lessor under the Lease without change in the provisions thereof; provided, however, Mortgagee or such successor in interest shall not be: (i) bound by any payment of an installment of rent or additional rent which may have been made more than thirty (30) days before the due date of such installment; (ii) bound by any amendment or modification to the Lease made without the consent of Mortgagee or such successor in interest; (iii) liable for any previous act or omission of Mortgagor (or its predecessors in interest); (iv) responsible for any monies owing by Mortgagor to the credit of such lessee or subject to any credits, offsets, claims, counterclaims, demands or defenses which the lessee may have against Mortgagor (or its predecessors in interest); (v) bound by any covenant to undertake or complete any construction of the premises demised under any Lease or any portion thereof; or (vi) obligated to make any payment to such lessee other than any security deposit actually delivered to Mortgagee or such successor in interest. Each such Lease shall provide that each lessee or other occupant, upon request by Mortgagee or such successor in interest, shall execute and deliver an instrument or instruments confirming such attornment and non-disturbanceTenant.

Appears in 1 contract

Samples: Lease Agreement (Kips Bay Medical, Inc.)

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