LEASES; AGREEMENTS. The Borrowers have delivered to Lender true and complete copies (in all material respects) of all (i) Leases for more than five hundred (500) square feet of space at any Property and (ii) Material Agreements affecting the operation and management of the Properties, and such Leases and Material Agreements have not been modified or amended except pursuant to amendments or modifications delivered to Lender. Except for the rights of each of the current Managers pursuant to the existing Management Agreements, no Person has any right or obligation to manage any of the Properties or to receive compensation in connection with such management. Except for the parties to any leasing brokerage agreement that has been delivered to Lender, no Person has any right or obligation to lease or solicit tenants for the Properties, or (except for cooperating outside brokers) to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. Borrowers have delivered to Lender true, complete and fully executed copies of all (i) Leases and (ii) material contracts and agreements affecting the operation and management of each of the Individual Properties, including, without limitation, the existing Management Agreement, any leasing brokerage agreements and any service and maintenance contracts and such Leases, contracts and agreements have not been modified or amended except pursuant to amendments or modifications delivered to Lender. Except for the rights of the current Manager pursuant to the existing Management Agreement, no Person has any right or obligation to manage any of the Properties or to receive compensation in connection with such management. Except for the parties to any leasing brokerage agreement(s) that has/have been delivered to Lender, no Person has any right or obligation to lease or solicit tenants for any of the Properties, or to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. The Sponsor shall ensure that its lease agreements provide for fair market value income and prohibit exclusive rights.
(A) Long term commitments (longer than 5 years) must provide for renegotiation of the leases’/agreements’ terms and payments at least every five (5) years.
(B) Leases/agreements shall not contain provisions that adversely affect the Sponsor's possession and control of the airport or interfere with the Sponsor's ability to comply with the obligations and covenants set forth in this grant Agreement.
LEASES; AGREEMENTS. To the Borrowers' Knowledge, it has delivered to Lender true and complete copies (in all material respect) of all (i) Leases and (ii) Material Agreements affecting the operation and management of the Properties, and such Leases and Material Agreements have not been modified or amended except pursuant to amendments or modifications delivered to Lender. Except for the rights of each of the current Managers pursuant to the existing Management Agreements, no Person has any right or obligation to manage any of the Properties or to receive compensation in connection with such management. Except for the parties to any leasing brokerage agreement that has been delivered to Lender, no Person has any right or obligation to lease or solicit tenants for the Properties, or (except for cooperating outside brokers) to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. The Sponsor shall incorporate the FAA Standard Airport Lease/Agreement provisions into all leases/agreements for use of airport property other than the public use areas. In addition to these provisions, these leases/agreements must provide for fair market value income and prohibit exclusive rights.
(A) Long term commitments (longer than 5 years) must provide for renegotiation of the leases’/agreements’ terms and payments at least every five (5) years.
(B) Leases/agreements shall not contain provisions that adversely affect the Sponsor's possession and control of the airport or interfere with the Sponsor's ability to comply with the obligations and covenants set forth in this grant Agreement.
LEASES; AGREEMENTS. The Borrowers have made available, pursuant to Section 3.1(H) to Lender a copy of the Database. Except for the rights of Manager pursuant to the Management Agreement, and the fee owners of Managed Sites, no Person has any right or obligation to manage any of the Sites or to receive compensation in connection with such management. No Person other than the Manager has any right or obligation to lease or solicit Lessees for the Sites, or (except for revenue sharing arrangements under Ground Leases) to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. To the Borrowers' Knowledge, it has delivered to Lender true and complete copies (in all material respects) of all (i) Leases, if any, and (ii) Material Agreements affecting the operation and management of the Jekyll Island Property, and such Leases and Material Agreements have not been modified or amended except pursuant to amendments or modifications delivered to Lender. Except for the rights of the current Manager pursuant to the existing Management Agreement at the Jekyll Island Property, no Person has any right or obligation to manage the Jekyll Island Property or to receive compensation in connection with such management. Except for the parties to any leasing brokerage agreement that has been delivered to Lender, no Person has any right or obligation to lease or solicit tenants for the Jekyll Island Property, or (except for cooperating outside brokers) to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. The Borrowers have made available, have delivered, or will deliver pursuant to Section 3.1(I) and (K), as applicable, to Lender (i) true and complete copies (in all material respects) of all Material Leases and (ii) a list of all Material Agreements affecting the operation and management of the Sites, and such Material Leases and list of Material Agreements have not been modified or amended except pursuant to amendments or modifications delivered to Lender. Except for the rights of the Manager pursuant to the existing Management Agreement, and the fee owners of Managed Sites, no Person has any right or obligation to manage any of the Sites or to receive compensation in connection with such management. Except for the parties to any leasing brokerage agreement that has been delivered to Lender, no Person has any right or obligation to lease or solicit tenants for the Sites, or (except for cooperating outside brokers and revenue sharing arrangements under Ground Leases) to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. The Borrower has delivered to Administrative Agent true and complete copies (in all material respects) of all (i) Ground Leases and any other Leases (as in effect on the Closing Date or at the time of the creation or acquisition thereof) required to be delivered pursuant to Section 5.2(d) or Section 6.10(a) and (ii) Material Agreements affecting the operation and management of the Towers, and such Ground Leases and Material Agreements have not been modified or amended except pursuant to amendments or modifications delivered to Administrative Agent. Except for the rights of the Manager pursuant to the existing Management Agreement, and the fee owners of Managed Properties, no Person has any right or obligation to manage any of the Towers or to receive compensation in connection with such management. Except for the parties to any leasing brokerage agreement that has been delivered to Administrative Agent or pursuant to a Management Agreement, no Person has any right or obligation to lease or solicit tenants for the Towers, or (except for cooperating outside brokers) to receive compensation in connection with such leasing.
LEASES; AGREEMENTS. (a) EXISTING LEASES. Seller shall not amend any Existing Lease, as defined below, in any material respect or execute any new or renewal lease, license, or other agreement affecting the ownership or operation of all or any portion of the Premises nor may Seller execute any new lease or renewal lease at a net effective rent less than that set forth in the Confidential Offering Memorandum prepared by CB Xxxxxxx Xxxxx, Inc., without the prior consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed. For purposes of this paragraph, net effective rent will include a deduction for tenant improvements, leasing commissions, and rollover downtime prorated over the new lease term. All existing leases listed on Exhibit "D" to this Agreement, together with lease amendments and new leases entered in accordance with this Paragraph, are collectively called the "Existing Leases". Without limiting the effect of any other condition to Closing contained in this Agreement, the termination of any of the Existing Leases prior to Closing by reason of the expiration of its term or by reason of the tenant's default or exercise of a termination right shall not excuse Buyer from its obligation to complete Closing and to pay the Purchase Price. 4 of 29
