Common use of Leases and Lease Reports Clause in Contracts

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. Except as set forth on Exhibit B, Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any leases lease(s) of space in the Property Project 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 their prior written consent except for leases not requiring Lender consent as provided in the Leasing Guidelines set forth on Exhibit B. consent. All lessees shall be required required, at Lender’s election election, to execute estoppel certificates and subordination, non-disturbance and attornment agreements in accordance with the Leasing Guidelines set forth on Exhibit B. form and substance satisfactory to Lender. 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 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 Except as set forth on Exhibit B, any new lease, modification, amendment, waiver of any material provision, termination or cancellation of any lease of space in the Property Project without the prior written consent of Lender, if required pursuant to the Leasing Guidelines set forth on Exhibit B, Lender shall be deemed by Lender, Lender in its sole discretion, as an Event of Default.

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 all or any portion of the Property Project 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 all lessees shall be required at Lender’s '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 form and substance satisfactory to Lender; and (30ii) within fifteen (15) days following the end of each year, except for multifamily propertiescalendar month, Borrower shall deliver to Lender and Mortgage Correspondent a report showing the status of the leasing of space in the Property 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, 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 Property Project without the prior written consent of Lender, if required pursuant to the Leasing Guidelines set forth on Exhibit B, Lender shall be deemed by Lender, in its sole discretion, as an Event of Default. Lender reserves the right to charge an administrative fee for any such modification, amendment, waiver, termination or cancellation of any lease(s) done with or without Lender's consent.

Leases and Lease Reports. Except for leases for less than five thousand (5,000) square feet written at commercially reasonable terms and conditions, Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any leases lease(s) of space in the Property Project 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 for areas of greater than five thousand square feet to Lender and Mortgage Correspondent for Lender’s their prior written consent except for leases not requiring Lender consent consent, all as provided more particularly set out in the Leasing Guidelines set forth on Exhibit B. B, attached hereto. All lessees shall be required required, at Lender’s election election, to execute estoppel certificates and subordination, non-disturbance and attornment agreements in accordance with the Leasing Guidelines set forth on Exhibit B. form and substance satisfactory to Lender. 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 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 excess of five thousand square feet in the Property Project without the prior written consent of Lender, if required pursuant to the Leasing Guidelines set forth on Exhibit B, Lender shall be deemed by Lender, Lender in its sole discretion, as an Event of Default.