Lease Representations Clause Samples
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Lease Representations. Landlord and Tenant hereby certify to Lender that the Lease has been duly executed by Landlord and Tenant and is in full force and effect; that the Lease has not been modified or amended except as specified herein; that to the knowledge of Landlord and Tenant, no party to the Lease is in default thereunder; that no rent under the Lease has been paid more than thirty (30) days in advance of its due date; and that Tenant, as of this date, to its knowledge, has no charge, lien, offset, defense, current abatement right, counterclaim or other right or claim under the Lease, or otherwise against the rents or other charges due or to become due thereunder.
Lease Representations. The representations and warranties made by each of the Lessees in the Master Lease are true and correct in all material respects.
Lease Representations. Seller is not in default under any of the terms, covenants, or conditions of any Real Property Lease on the part of Seller to be observed or performed. All rents, additional rents and other sums due and payable by Seller under any Real Property Lease have been paid in full and no event has occurred which with the passage of time or the giving of notice, or both, would constitute a default by Seller under any Real Property Lease. Seller has not commenced any action, or given or received any notice, for the purpose of terminating any Real Property Lease.”
B. Section 3 is amended to add a new subsection 3(bb) as follows:
Lease Representations. The Lessee represents and warrants for the benefit of the Security Trustee that, on the date hereof:
2.01 Except as reflected on Schedule 1, the Lease is unmodified and is in full force and effect.
2.02 Lease Rent under the Lease is set forth in each respective ASLA (as specified in Schedule 1).
2.03 There are not, to the Lessee’s knowledge, any uncured defaults on the part of the Lessor under the Lease and the Lessee has no claims against the Lessor by reason of the condition of the Aircraft as of the Delivery Date or arising subsequent thereto to the date hereof.
2.04 The Lessee represents and warrants that the Lessee has the power to execute, deliver and perform its obligations under this Lessee Consent, and all necessary corporate, shareholder and other action has been taken to authorize the execution, delivery and performance of this Lessee Consent. This Lessee Consent is the legal, valid and binding agreement of the Lessee, enforceable against the Lessee in accordance with its terms, except to the extent that such enforcement may be limited by moratorium, insolvency, bankruptcy, reorganization and other similar laws of general application affecting the rights of creditors or by general principles of equity.
2.05 All of the representations and warranties of the Lessee set forth in Section 2.1 of the Lease are true and correct as of the date hereof.
Lease Representations. Except as otherwise disclosed on the Lease Schedule or elsewhere in this Agreement:
(A) to Seller’s actual knowledge, each Lease is in full force and effect, constitutes a legal, valid and binding obligation of the Tenant thereunder, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy and similar laws affecting the enforcement of creditors’ rights generally or equitable considerations which may affect a court’s exercise of its equitable powers, and has not been modified, amended or extended;
(B) the annual or monthly Rent listed opposite the name of each Tenant on the Rent Roll is the amount, including Basic Rent and Additional Rent, actually collected from or billed to such Tenant for the month immediately preceding the date of this Agreement and, except as set forth in the Rent Roll, there is no arrearage in excess of one month;
(C) each Tenant is now in possession of the leased premises under its Lease;
(D) none of the Tenants owes Seller any amounts due for Rent or other charges payable under its Lease or other side letter or agreement and, to the extent any Tenant is delinquent in paying Seller any such amount, the amount of the delinquency is set forth in the Rent Roll;
(E) to Seller’s actual knowledge, none of the Tenants is in default in the performance or observance of any of the material non-monetary covenants or conditions to be kept, observed or performed by it under its Lease and, to the extent Seller has actual knowledge of any such default, the default is described in the Rent Roll;
(F) no renewal, extension or expansion options have been granted to any Tenant except as set forth in such Tenant’s Lease;
(G) no Tenant has an option to purchase the Property, or any part thereof,
(H) no Tenant is entitled to any rebate, rent abatement, concession, deduction or offset, except as set forth (i) in such Tenant’s Lease, and (ii) in the Lease Schedule if any Tenant is entitled to receive any portion of same from and after Closing ;
(I) except as disclosed in the Rent Roll, no Tenant has paid any Rent for a period of more than thirty (30) days in advance;
(J) no Tenant is entitled to receive from Seller, as landlord, any contribution or allowance, either in money or in kind, on account of the construction of its improvements, except as set forth (i) in such Tenant’s Lease, and (ii) in the Lease Schedule if any Tenant is entitled to receive any portion of same from and after Closing ;
(K) there are no or...