Leases and Operating Agreements Sample Clauses

Leases and Operating Agreements. The Leases and the Operating Agreements, if any, are in full force and effect. Mortgagor has neither given to, nor received any notice of default from, any party to any of the Operating Agreements, if any, or any Lease which remains uncured. To the best of Mortgagor's knowledge, except as set forth in estoppel certificates delivered to Mortgagee prior to the date hereof, no events or circumstances exist which with or without the giving of notice, the passage of time or both, may constitute a default under any of the Operating Agreements or the Leases on the part of Mortgagor, or party thereunder. Mortgagor has complied with and performed all of its material construction, improvement and alteration obligations with respect to each Property required under the Operating Agreements and the Leases which was required prior to the date hereof. Mortgagor will promptly after receipt thereof deliver to Mortgagee a copy of any notice received with respect to the Operating Agreements and the Leases, claiming that Mortgagor is in default in the performance or observance of any of the material terms, covenants or conditions of any of the Operating Agreements or the Leases.

Leases and Operating Agreements. Lender shall have received true and complete copies of any other Leases. Lender shall have received true and complete copies of all Operating Agreements and all Ground Leases.

Leases and Operating Agreements. Lender shall have received true and complete copies of all Leases executed and delivered on or before the Closing Date and all subleases executed and delivered on or before the Closing Date of which Borrower has knowledge. Lender shall have received true and complete copies of all Material Agreements.

Leases and Operating Agreements. Lender shall have received true and complete copies of all Leases with Major Tenants executed and delivered on or before the Rent Roll Date (and any such Leases executed and delivered since such date shall be delivered promptly after the Closing). Lender shall have received true and complete copies of all Operating Agreements and any ground leases with respect to each Property.

Leases and Operating Agreements. The Leases and the Operating Agreements, if any, are in full force and effect. Borrower has neither given to, nor received any notice of default from, any party to any of the Operating Agreements, if any, or any Lease which remains uncured. To the best of Borrower's knowledge, no events or circumstances exist which with or without the giving of notice, the passage of time or both, may constitute a default under any of the Operating Agreements or the Leases on the part of Borrower, or party thereunder. Borrower has complied with and performed all of its material construction, improvement and alteration obligations with respect to each Property required under the Operating Agreements and the Leases which was required prior to the date hereof. Borrower will promptly after receipt thereof deliver to Lender a copy of any notice received with respect to the Operating Agreements and the Leases, claiming that Borrower is in default in the performance or observance of any of the material terms, covenants or conditions of any of the Operating Agreements or the Leases.

Leases and Operating Agreements. (1) Mortgagor has no right or power, as against Mortgagee, without the prior written consent of Mortgagee, in each case (i) to enter into or modify, amend, or cancel, any of the terms, covenants or conditions of any Leases or Operating Agreements, (ii) to consent to any assignment of any Lease or any subletting of the portion of the Real Estate subject to any Lease, (iii) to assign, mortgage or otherwise encumber any of the Leases or any of the Rents due or to become due thereunder or to which Mortgagee may now or hereafter become entitled, or (iv) to accept prepayments of installments of rent for more than thirty (30) days in advance of the time when the same shall become due or to anticipate the rents thereunder, except for security deposits. Mortgagor shall notify Mortgagee not later than three (3) months prior to the date of the expiration of the term of any Lease of its intention either to renew or not renew any such Lease, and, if Mortgagor shall intend to renew the Lease, the terms and conditions of any such renewal Lease. (2) In addition to containing such other terms and conditions as Mortgagee shall approve, each Lease which shall be executed in accordance with the provisions hereof shall (i) not permit the lessee thereunder to terminate or invalidate the terms of its Lease as a result of any action taken by Mortgagee to enforce this Mortgage either by foreclosure, or acceptance of a deed in lieu of foreclosure, or by resort to any other rights or remedies available to Mortgagee hereunder or at law or in equity, (ii) include a subordination clause providing that the Lease and the interest of the lessee thereunder in the Mortgaged Property are in all respects subject and subordinate to this Mortgage, (iii) provide that, at the option of Mortgagee or the purchaser at a foreclosure sale or the grantee in a voluntary conveyance in lieu of foreclosure, the lessee thereunder shall attorn to Mortgagee or to such purchaser or grantee under all of the terms of the Lease and recognize such entity as the lessor under the Lease for the balance of the term of the Lease, and (iv) provide that, in the event of the enforcement by Mortgagee of the rights and remedies provided by law or in equity or by this Mortgage, any person succeeding to the interest of Mortgagee as a result of such enforcement shall not be bound by any prepayment of installments of rent for more than thirty (30) days in advance of the time when the same shall become due or any amendment, modi...