Leases and Lease Reports. Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any leases of space in the Property without the prior written consent of Lender, except in each case in accordance with the Leasing Guidelines set forth on Exhibit B attached hereto. Borrower shall submit each and every proposed lease to Lender and Mortgage Correspondent for Lender’s prior written consent except for leases not requiring Lender consent as provided in the Leasing Guidelines set forth on Exhibit B. All lessees shall be required at Lender’s election to execute estoppel certificates and subordination, non-disturbance and attornment agreements in accordance with the Leasing Guidelines set forth on Exhibit B. Within thirty (30) days following the end of each year, except for multifamily properties, Borrower shall deliver to Lender and Mortgage Correspondent a report showing the status of the leasing of space in the Property certified by Borrower. Such report shall include information on the amount of space covered by any letters of intent, leases out for execution, and fully executed leases; the rental amount under each lease agreement or proposed lease agreement; the term of each lease agreement; and a summary of any terms which vary from the standard form of lease, if applicable, previously approved by Lender. Any new lease, modification, amendment, waiver of any material provision, termination or cancellation of any lease of space in the Property without the prior written consent of Lender, if required pursuant to the Leasing Guidelines set forth on Exhibit B, shall be deemed by Lender, in its sole discretion, as an Event of Default.
Leases and Lease Reports. (i) No Borrower shall enter into any new lease of space in the Borrower's Project without Lender's prior written consent, except for leases of premises at Fort Liberty (other than the On Stage Lease) at market value entered into with bona fide third parties for a term not to exceed five years on a form previously approved in writing by Lender; (ii) no Borrower shall modify, amend, waive any material provision of, terminate or cancel (a) any On Stage Lease, or (b) any existing leases of space in the applicable Project that would cause the term of any lease to exceed five years or the rentable payable thereunder to be other than market rates without the prior written consent of Lender (and the applicable Borrower shall be required at Lender's election to use its reasonable best efforts to cause each lessee to execute estoppel certificates and subordination, non-disturbance and attornment agreements in form and substance satisfactory to Lender); and (c) if there are any leases of space in such Project generating or expected to generate annual rents of $60,000 or more, within fifteen (15) days following the end of each month, such Borrower shall deliver to Lender a report showing the status of such leases in the Project as of the end of such month certified by such Borrower. Such report shall include information on the amount of space covered by any letters of intent, leases out for execution, and fully executed leases; the rental under each lease agreement or proposed lease agreement; the term of each lease agreement; and a summary of any terms which vary from the standard form of lease previously approved by Lender.
Leases and Lease Reports. Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any lease(s) of space in the Project without the prior written consent of Lender. All lessees shall be required, at Lender's election, to execute estoppel certificates and subordination, non-disturbance and attornment agreements in form and substance satisfactory to Lender. Within fifteen (15) days following the end of each year, Borrower shall deliver to Lender a report showing the status of the leasing of space in the Project certified by Borrower. Such report shall include information on the amount of space covered by any letters of intent, leases out for execution, and fully executed leases; the rental amount under each lease agreement or proposed lease agreement; the term of each lease agreement; and a summary of any terms which vary from the standard form of lease, if applicable, previously approved by Lender. Any new lease, modification, amendment, waiver of any material provision, termination or cancellation of any lease of space in the Project without the prior written consent of Lender may be deemed by Lender, in its sole discretion, as an Event of Default.
Leases and Lease Reports. Mortgagors shall not enter into, modify, amend, waive any material provision of, terminate or cancel any lease(s) of space in any Property without the prior written consent of Lender, except in accordance with the Leasing Guidelines attached hereto as Exhibit E and made a part hereof. Any breach by a Mortgagor of this Section 3.7 (continuing beyond any applicable notice and cure periods) shall be deemed by Lender in its sole discretion, as an Event of Default.
Leases and Lease Reports. (a) Borrower shall not enter into any Leases without Lender’s prior written consent. Borrower shall not modify, amend, supplement, waive any material provision of, terminate or cancel any Leases of space in the Project: (a) except for a termination or cancellation of any Lease under which the tenant thereof is in default thereunder, (b) except for a modification, amendment, supplement, termination or cancellation which is, in Borrower’s commercially reasonable judgment, in furtherance of the conversion of the Project to a condominium regime and (c) except for Leases of the Condominium Units for a period of time and upon such terms as comport with the schedule for the conversion and sale of such Condominium Units. In addition, any new Leases or modifications to existing leases shall be pursuant to the standard form of Lease approved by Lender. All Leases shall have terms of no more than twelve (12) months. All space tenants shall be required at Lender’s election to execute estoppel certificates and subordination, non-disturbance and attornment agreements in the scope, form, substance and legal sufficiency as Lender shall determine.
Leases and Lease Reports. (i) Except in the ordinary course of business and in the exercise of sound business judgment, and at market rents, a schedule of which has been approved by Lender, and in accordance with the standard form of lease approved by Lender, Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any leases of space in the Project without the prior written consent of Lender, and (ii) annually, upon request or upon an Event of Default, Borrower shall deliver to Lender a report showing the status of the leasing of space in the Project certified by Borrower. Such report shall include information on the amount of space covered by any letters of intent, leases out for execution, and fully executed leases; the rental under each lease agreement or proposed lease agreement; the term of each lease agreement; and a summary of any terms which vary from the standard form of lease previously approved by Lender. Any new lease, modification, amendment, waiver of any material provision, termination or cancellation of any lease of space in the Project without the prior written consent of Lender shall be deemed by Lender, in its sole discretion, as an Event of Default. Notwithstanding the foregoing, Borrower shall have the right, without the prior written consent of Lender, to enter into a lease of a portion of the Project with a person or party not affiliated with Borrower provided that the lease is written with only minor modifications or clarifications of the lease form which has been approved by Lender.
Leases and Lease Reports. (a) Each Borrower agrees not to enter into, modify, amend, or waive any material provision of, terminate or cancel any lease(s) of space to which it is a party without the prior written consent of Lender. All lessees shall be required, at Lender’s election, to execute estoppel certificates and subordination, non-disturbance and attornment agreements (“SNDA”) in form and substance reasonably satisfactory to Lender. With respect to Tenants under Approved Leases, Lender agrees not to unreasonably withhold its consent to any SNDA in Tenant’s standard form. Within thirty (30) days following the end of each calendar year, each Borrower shall deliver to Lender a certified report showing the status of the leasing of space in the Project owned by it.
Leases and Lease Reports. Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any lease(s) of space in the Project without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed. Borrower shall submit each and every proposed lease and lease modification to Lender and Mortgage Correspondent for their prior written consent. If Lender shall fail to respond to Borrower’s request for consent to a proposed lease or lease modification within five (5) business days after receipt of such request, Borrower shall send a second request for consent to Lender and Lender’s failure to respond to such second request within three (3) business days after receipt thereof shall be deemed Lender’s consent of the proposed lease or lease modification. All new lessees shall be required, at Lender’s election, to execute estoppel certificates and subordination, non-disturbance and attornment agreements in form and substance satisfactory to Lender. Any new lease, modification, amendment, waiver of any material provision, termination or cancellation of any lease of space in the Project without the prior written consent of Lender, as provided herein, shall be deemed by Lender, in its sole discretion, as an Event of Default.
Leases and Lease Reports. Borrower shall not enter into ------------------------ any Leases or modify, amend, supplement, waive any material provision of, terminate or cancel any Leases of space in the Project involving square footage in excess of 5,000 square feet without the prior written approval of Lender. All space tenants shall be required at Lender's election to execute estoppel certificates and subordination, non-disturbance and attornment agreements in the scope, form, substance and legal sufficiency as Lender shall determine.
Leases and Lease Reports. (i) Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any leases of space in the Project without the prior written consent of Lender and all lessees shall be required at Lender's election to execute estoppel certificates and subordination, non-disturbance and attornment agreements in form and substance satisfactory to Lender; and (ii) within fifteen (15) days following the end of each month, Borrower shall deliver to Lender a report showing the status of the leasing of space in the Project certified by Borrower. Such report shall include information on the amount of space covered by any letters of intent, leases out for execution, and fully executed leases; the rental under each lease agreement or proposed lease agreement; the term of each lease agreement; and a summary of any terms which vary from the standard form of lease previously approved by Lender.
