Common use of Leases and other Agreements Affecting Property Clause in Contracts

Leases and other Agreements Affecting Property. Grantor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor will not enter into, modify, surrender or terminate, either orally or in writing, any Lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor will not accept payment of rent more than one (1) month in advance without the prior written consent of Grantee. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of Grantor's obligations, Grantor hereby collaterally assigns, transfers and sets over unto Grantee all of Grantor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor to collect and use the same so long as no Event of Default is continuing. Grantee shall be entitled to require, and Grantor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to Grantee. Grantor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee all rents and any other sums due Grantor as landlord and to perform for the direct benefit of Grantee any other obligations of such tenant to Grantor as landlord, as if Grantee were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee shall constitute or be deemed to constitute any assumption by Grantee of any obligations of the landlord under such tenant's Lease. No such demand by Grantee shall constitute or be deemed to constitute any wrongful interference by Grantee in the affairs or business relationships for ascertaining whether any such demand by Grantee is authorized or whether a default by Grantor has occurred under this Security Deed. Grantor hereby waives any right, claim or action Grantor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee as described above, and any such payment to or performance for Grantee shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, Grantor. Grantor shall furnish the Grantee with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreement.

Appears in 2 contracts

Samples: And Security Agreement (Koger Equity Inc), And Security Agreement (Koger Equity Inc)

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Leases and other Agreements Affecting Property. Grantor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease lease or any other agreement of any nature whatsoever which involves or affects the Property Premises or any part thereof. Grantor will, at the request of Grantee, furnish Grantee with executed copies of all leases now or hereafter created upon the Premises or any part thereof, and all leases now or hereafter entered into will not enter intobe in form and substance subject to the prior approval of Grantee. Grantor will not, without the express written consent of Grantee, modify, surrender or terminate, either orally or in writing, any Lease lease now existing or hereafter created upon the Property Premises or any part thereof, nor will Grantor permit an assignment or a subletting by any tenant other than in accordance with without the terms prior express written consent of the Credit AgreementGrantee. Grantor will not accept payment of rent more than one (1) month in advance without the prior express written consent of Grantee. In order to further secure payment of the Secured Obligations Note and the observance, performance and discharge of Grantor's ’s obligations, Grantor hereby collaterally assigns, transfers and sets over unto Grantee all of Grantor's ’s right, title and interest in, to and under all Leases present and future leases affecting the Property Premises or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property Premises or any part thereof; reserving only the right to Grantor to collect and use the same so long as no Event of Default exists hereunder. The foregoing part of this Paragraph 1.07 to the contrary notwithstanding, Grantor shall have the following rights respecting the Leases without having to obtain the prior written consent of Grantee: (w) Grantor may deal with smaller tenants (those leasing five percent (5%) of the Secured Property Improvements or less) in the ordinary course of business, including, without limitation, any of the matters specified above in Paragraph 1.07 which would otherwise require Grantee’s consent but for this item (w); (x) as provided in the existing License Agreement with Xxxxxx Industries, Inc., Grantor, as landlord, may terminate the License Agreement for the 4,210 square feet (Suite 300) by providing thirty (30) days’ prior written notice to said tenant but only in the event that Grantor has entered into a lease for said space under terms approved in writing by Grantee with a tenant having a business reputation and credit worthiness approved in writing by Grantee, which approvals shall not be unreasonably withheld; (y) Grantor may give consent to any assignment by a tenant under any of the leases in the event the assignment is continuingto a new tenant having better credit than the assigning tenant, such new tenant, and its business reputation and credit, being subject to the written approval of Grantee which shall not unreasonably be withheld; and (z) with respect to all leases, Grantor may act in the ordinary course of business as market conditions dictate and in a commercially reasonable manner subject, however, to Grantee’s right of consent and/or approval of certain matters as set forth in this Paragraph 1.07, such consent and/or approval not to be unreasonably withheld. In addition, with respect to any written consent or approval of Grantee pursuant to this Paragraph 1.07, Grantee shall notify Grantor if Grantee does not consent to or approve such matter within ten (10) business days after receipt from Grantor of a request to consent to or approve of any of the matters requiring Grantee’s consent or approval together with receipt of the required relevant information. In the event that Grantee does not notify Grantor that Grantee has not consented to or approved the requested matter within ten (10) business days, the requested matter shall be deemed consented to or approved by Grantee. As an accommodation to Grantor, Grantee will approve a standard lease form. Notwithstanding the approval of a standard lease form, Grantee specifically reserves the right to approve each lease hereinafter entered into wherein (i) the tenant occupies more than five percent (5%) of the net leasable area of the Secured Property Improvements; (ii) where the lease term, excluding renewal options, exceeds three (3) years; (iii) where the use of the premises may be different than the standard building use regardless of length of lease term or square footage; (iv) where the use may be potentially hazardous (x-ray laboratories, etc.); or (v) where there are restrictions on competing stores in a shopping center or other similar project. Grantor may deal with smaller tenants (those taking five percent [5%] of the space or less) in the ordinary course of business without Grantee’s consent. Grantee shall be entitled notify Grantor within ten (10) business days after receipt from Grantor of a request to require, and approve a lease requiring approval together with receipt of the required relevant information if Grantee does not approve the lease. In the event that Grantee does not notify Grantor shall use its best efforts to obtainthat Grantee has not approved the proposed lease within such ten (10) business days, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to Grantee. Grantor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee all rents and any other sums due Grantor as landlord and to perform for the direct benefit of Grantee any other obligations of such tenant to Grantor as landlord, as if Grantee were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee lease shall constitute or be deemed to constitute any assumption by Grantee of any obligations of the landlord under such tenant's Lease. No such demand by Grantee shall constitute or be deemed to constitute any wrongful interference by Grantee in the affairs or business relationships for ascertaining whether any such demand by Grantee is authorized or whether a default by Grantor has occurred under this Security Deed. Grantor hereby waives any right, claim or action Grantor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee as described above, and any such payment to or performance for Grantee shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, Grantor. Grantor shall furnish the Grantee with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreementapproved.

Appears in 1 contract

Samples: Debt and Security Agreement (Servidyne, Inc.)

Leases and other Agreements Affecting Property. Grantor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease lease, sublease, rental agreement, occupancy agreement or any other agreement of any nature whatsoever which involves or affects the Property Premises or any part thereof if such failure to perform would have a materially adverse effect on the Premises or Grantor's ability to repay or perform the Indebtedness. Grantor will furnish the Beneficiary with executed copies of all leases, subleases, rental agreements or occupancy agreements now or hereafter created upon the Premises or any part thereof. Grantor will not, without the express written consent of the Beneficiary, enter into any lease, sublease or occupancy agreements with respect to the Premises or any portion thereof; provided, however, that the Beneficiary's prior written consent shall not enter be required with respect to the entering into, modifymodification or termination of any occupancy agreement for any of the Premises consisting of a portion of any legally subdivided parcel and having a term of less than sixty (60) days. Grantor will not, surrender without the express written consent of the Beneficiary, terminate or terminate, modify either orally or in writing, any Lease lease, sublease, rental agreement or occupancy agreement now existing or hereafter created upon the Property Premises or any part thereof, nor will Grantor permit an any assignment or a subletting by any tenant other than in accordance with Tenant without the terms prior express written consent of the Credit AgreementBeneficiary. Grantor will not accept payment of rent more than one (1) month in advance without the prior express written consent of Granteethe Beneficiary. In order to further secure payment of the Secured Obligations Note and the observance, performance and discharge of Grantor's obligations, Grantor hereby collaterally assigns, transfers and sets over unto Grantee the Beneficiary, and grants the Beneficiary a security interest in, all of Grantor's right, title and interest in, to and under all Leases leases, subleases, rental agreements, occupancy agreements, licenses, concessions, entry fees, other agreements which grant a possessory interest and other contracts now or hereafter affecting the Property Premises or any part thereof and in and to all of the rents, issues, profits, revenues, proceeds, awards and other benefits now or hereafter arising from the use and enjoyment of the Property Premises or any part thereof; reserving only provided, however, that Beneficiary hereby licenses back to Grantor the right to Grantor to collect and use the same so long as no unless and until an Event of Default is continuing. Grantee shall be entitled to require, and Grantor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to Grantee. Grantor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee all rents and any other sums due Grantor as landlord and to perform for the direct benefit of Grantee any other obligations of such tenant to Grantor as landlord, as if Grantee were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee shall constitute or be deemed to constitute any assumption by Grantee of any obligations of the landlord under such tenant's Lease. No such demand by Grantee shall constitute or be deemed to constitute any wrongful interference by Grantee in the affairs or business relationships for ascertaining whether any such demand by Grantee is authorized or whether a default by Grantor has occurred under this Security Deed. Grantor hereby waives any right, claim or action Grantor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee as described above, and any such payment to or performance for Grantee shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, Grantor. Grantor shall furnish the Grantee with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreementhereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Mego Financial Corp)

Leases and other Agreements Affecting Property. Grantor Obligor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will, at the request of Collateral Agent, furnish the Lenders with executed copies of all leases now or hereafter created upon the Property or any part thereof and all leases now or hereafter entered into will not enter intobe in form and substance subject to the prior approval of Collateral Agent. Obligor will not, without the express written consent of the Required Lenders, modify, surrender or terminate, either orally or in writing, any Lease lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor will not accept payment of rent more than one (1) month in advance without the prior express written consent of GranteeCollateral Agent. In order to further secure payment of the Secured Obligations Indebtedness and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee under Collateral Agent all of GrantorObligor's right, title and interest in, to and under all Leases leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event Obligor is not in default hereunder. All such leases must be subordinate to the lien of Default is continuingthis Instrument unless Collateral Agent otherwise specifies, in which case such specific leases shall be made superior to this Instrument. Grantee Collateral Agent shall be entitled to require that certain leases be made superior to this Instrument but that certain provisions of such superior leases be made subject to this Instrument. Collateral Agent shall also be entitled to require, and Grantor Obligor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form tenants specified by the related tenant Lease, if any, Collateral Agent. Any form lease hereafter used by Obligor shall be first submitted to and reasonably acceptable to Granteeapproved by Collateral Agent. Grantor Obligor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee Collateral Agent all rents and any other sums due Grantor Obligor as landlord and to perform for the direct benefit of Grantee Collateral Agent any other obligations of such tenant to Grantor Obligor as landlord, as if Grantee Collateral Agent were the landlord under such tenant's Leaselease, immediately upon receipt of a written demand by Grantee Collateral Agent to make such payment or perform such obligation during the existence of an a Default or Event of Default. No such demand by Grantee Collateral Agent shall constitute or be deemed to constitute any assumption by Grantee Collateral Agent of any obligations of the landlord under such tenant's Leaselease. No Subject only to compliance by Collateral Agent with the provisions of Paragraph 2.01, no such demand by Grantee Collateral Agent shall constitute or be deemed to constitute any wrongful interference by Grantee Collateral Agent in the affairs or business relationships for ascertaining whether any such demand by Grantee Collateral Agent is authorized or whether a default by Grantor Obligor has occurred under this Security DeedInstrument. Grantor Obligor hereby waives any right, claim or action Grantor Obligor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee Collateral Agent as described above, and any such payment to or performance for Grantee Collateral Agent shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, Grantor. Grantor shall furnish the Grantee with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit AgreementObligor.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Financing Statement (Crown Crafts Inc)

Leases and other Agreements Affecting Property. Grantor Obligor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will not enter into, modify, surrender or terminate, either orally or in writing, any Lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor Obligor will not accept payment of rent more than one (1) month in advance without the prior written consent of GranteeAgent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee Agent all of GrantorObligor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event of Default is continuing. Grantee Agent shall be entitled to require, and Grantor Obligor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to GranteeAgent. Grantor Obligor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee Agent all rents and any other sums due Grantor Obligor as landlord and to perform for the direct benefit of Grantee Agent any other obligations of such tenant to Grantor Obligor as landlord, as if Grantee Agent were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee Agent to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee Agent shall constitute or be deemed to constitute any assumption by Grantee Agent of any obligations of the landlord under such tenant's Lease. No such demand by Grantee Agent shall constitute or be deemed to constitute any wrongful interference by Grantee Agent in the affairs or business relationships for ascertaining whether any such demand by Grantee Agent is authorized or whether a default by Grantor Obligor has occurred under this Security DeedInstrument. Grantor Obligor hereby waives any right, claim or action Grantor Obligor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee Agent as described above, and any such payment to or performance for Grantee Agent shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, GrantorObligor. Grantor Obligor shall furnish the Grantee Agent with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreement.

Appears in 1 contract

Samples: And Security Agreement (Koger Equity Inc)

Leases and other Agreements Affecting Property. Grantor Obligor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will not enter intofurnish Collateral Agent with executed copies of the Leases for all Major Tenants now or hereafter created upon the Property or any part thereof and abstracts of all other Leases, modifyunless Collateral Agent requests a copy of such other Leases in which case Obligor will furnish copies of such Leases to Collateral Agent. Obligor will not, without the express written consent of Collateral Agent, modify in any material respect, surrender or terminate, either orally or in writing, any Lease with a Major Tenant now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with Major Tenant without the terms prior express written consent of the Credit AgreementCollateral Agent. Grantor Obligor will not accept payment of rent more than one (1) month in advance without the prior written consent of GranteeCollateral Agent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee under Collateral Agent all of GrantorObligor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event of Default Obligor is continuingnot in default hereunder. Grantee Collateral Agent shall be entitled to require, and Grantor Obligor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to GranteeCollateral Agent. Grantor Obligor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee Collateral Agent all rents and any other sums due Grantor Obligor as landlord and to perform for the direct benefit of Grantee Collateral Agent any other obligations of such tenant to Grantor Obligor as landlord, as if Grantee Collateral Agent were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee Collateral Agent to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee Collateral Agent shall constitute or be deemed to constitute any assumption by Grantee Collateral Agent of any obligations of the landlord under such tenant's Lease. No Subject only to compliance by Collateral Agent with the provisions of Paragraph 2.01, no such demand by Grantee Collateral Agent shall constitute or be deemed to constitute any wrongful interference by Grantee Collateral Agent in the affairs or business relationships for ascertaining whether any such demand by Grantee Collateral Agent is authorized or whether a default by Grantor Obligor has occurred under this Security DeedInstrument. Grantor Obligor hereby waives any right, claim or action Grantor Obligor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee Collateral Agent as described above, and any such payment to or performance for Grantee Collateral Agent shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, GrantorObligor. Grantor Obligor shall furnish the Grantee Collateral Agent with signed copies of all new, modified or renewal Leases affecting the Propertyfor Major Tenants and abstracts of all new, as required pursuant modified or renewal Leases for non-Major Tenants, unless Collateral Agent requests a copy of such other Leases in which event Obligor shall furnish copies of such other Leases to the terms and provisions of the Credit AgreementCollateral Agent.

Appears in 1 contract

Samples: Credit Agreement (JDN Realty Corp)

Leases and other Agreements Affecting Property. Grantor Obligor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will not enter into, modify, surrender or terminate, either orally or in writing, any Lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor Obligor will not accept payment of rent more than one (1) month in advance without the prior written consent of GranteeAgent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee Agent all of GrantorObligor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event of Default Obligor is continuingnot in default hereunder. Grantee Agent shall be entitled to require, and Grantor Obligor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to GranteeAgent. Grantor Obligor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee Agent all rents and any other sums due Grantor Obligor as landlord and to perform for the direct benefit of Grantee Agent any other obligations of such tenant to Grantor Obligor as landlord, as if Grantee Agent were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee Agent to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee Agent shall constitute or be deemed to constitute any assumption by Grantee Agent of any obligations of the landlord under such tenant's Lease. No such demand by Grantee Agent shall constitute or be deemed to constitute any wrongful interference by Grantee Agent in the affairs or business relationships for ascertaining whether any such demand by Grantee Agent is authorized or whether a default by Grantor Obligor has occurred under this Security DeedInstrument. Grantor Obligor hereby waives any right, claim or action Grantor Obligor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee Agent as described above, and any such payment to or performance for Grantee Agent shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, GrantorObligor. Grantor Obligor shall furnish the Grantee Agent with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreement.

Appears in 1 contract

Samples: Master Credit Agreement (JDN Realty Corp)

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Leases and other Agreements Affecting Property. Grantor Obligor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will not enter into, modify, surrender or terminate, either orally or in writing, any Lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor Obligor will not accept payment of rent more than one (1) month in advance without the prior written consent of GranteeAgent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee Agent all of GrantorObligor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event of Default is continuing. Grantee Agent shall be entitled to require, and Grantor Obligor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to GranteeAgent. Grantor Obligor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee Agent all rents and any other sums due Grantor Obligor as landlord and to perform for the direct benefit of Grantee Agent any other obligations of such tenant to Grantor Obligor as landlord, as if Grantee Agent were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee Agent to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee Agent shall constitute or be deemed to constitute any assumption by Grantee Agent of any obligations of the landlord under such tenant's Lease. No such demand by Grantee Agent shall constitute or be deemed to constitute any wrongful interference by Grantee Agent in the affairs or business relationships for ascertaining whether any such demand by Grantee Agent is authorized or whether a default by Grantor Obligor has occurred under this Security DeedMortgage. Grantor Obligor hereby waives any right, claim or action Grantor Obligor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee Agent as described above, and any such payment to or performance for Grantee Agent shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, GrantorObligor. Grantor Obligor shall furnish the Grantee Agent with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreement.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Koger Equity Inc)

Leases and other Agreements Affecting Property. Grantor Obligor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will not enter intofurnish Collateral Agent with executed copies of the Leases for all Major Tenants now or hereafter created upon the Property or any part thereof and abstracts of all other Leases, unless Collateral Agent requests a copy of such other Leases in which case Obligor will furnish copies of such Leases to Collateral Agent. Obligor will not, without the express written consent of Collateral Agent, modify, surrender or terminate, either orally or in writing, any Lease with a Major Tenant now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with Major Tenant without the terms prior express written consent of the Credit AgreementCollateral Agent. Grantor Obligor will not accept payment of rent more than one (1) month in advance without the prior written consent of GranteeCollateral Agent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee under Collateral Agent all of GrantorObligor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event of Default Obligor is continuing. Grantee shall be entitled to require, and Grantor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined not in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to Grantee. Grantor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee all rents and any other sums due Grantor as landlord and to perform for the direct benefit of Grantee any other obligations of such tenant to Grantor as landlord, as if Grantee were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee shall constitute or be deemed to constitute any assumption by Grantee of any obligations of the landlord under such tenant's Lease. No such demand by Grantee shall constitute or be deemed to constitute any wrongful interference by Grantee in the affairs or business relationships for ascertaining whether any such demand by Grantee is authorized or whether a default by Grantor has occurred under this Security Deed. Grantor hereby waives any right, claim or action Grantor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee as described above, and any such payment to or performance for Grantee shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, Grantor. Grantor shall furnish the Grantee with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreementhereunder.

Appears in 1 contract

Samples: Credit Agreement (JDN Realty Corp)

Leases and other Agreements Affecting Property. Grantor Obligor will duly and ---------------------------------------------- punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor Obligor will not enter into, modify, surrender or terminate, either orally or in writing, any Lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor Obligor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor Obligor will not accept payment of rent more than one (1) month in advance without the prior written consent of GranteeAgent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of GrantorObligor's obligations, Grantor Obligor hereby collaterally assigns, transfers and sets over unto Grantee Agent all of GrantorObligor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor Obligor to collect and use the same so long as no Event of Default Obligor is continuingnot in default hereunder. Grantee Agent shall be entitled to require, and Grantor Obligor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to GranteeAgent. Grantor Obligor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee Agent all rents and any other sums due Grantor Obligor as landlord and to perform for the direct benefit of Grantee Agent any other obligations of such tenant to Grantor Obligor as landlord, as if Grantee Agent were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee Agent to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee Agent shall constitute or be deemed to constitute any assumption by Grantee Agent of any obligations of the landlord under such tenant's Lease. No such demand by Grantee Agent shall constitute or be deemed to constitute any wrongful interference by Grantee Agent in the affairs or business relationships for ascertaining whether any such demand by Grantee Agent is authorized or whether a default by Grantor Obligor has occurred under this Security DeedInstrument. Grantor Obligor hereby waives any right, claim or action Grantor Obligor may now or hereafter have against any such tenant by reason of such tenant's payment to or performance for Grantee Agent as described above, and any such payment to or performance for Grantee Agent shall discharge the obligation of such tenant to make such payment to, or perform such obligation for, GrantorObligor. Grantor shall Obligor will furnish the Grantee Agent with signed copies of all new, modified or renewal Leases affecting the Property, as required pursuant to the terms and provisions of the Credit Agreement.

Appears in 1 contract

Samples: Indemnity Agreement (JDN Realty Corp)

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