Common use of Leases; Lease Approval; Lease Termination Clause in Contracts

Leases; Lease Approval; Lease Termination. (i) Unless otherwise consented to by Lender in writing, all Leases entered into after the date of this Agreement shall (A) be to unaffiliated third parties and under market terms (provided, “market terms” shall not be deemed to require market rents), including, without limitation, those relating to insurance, waiver of claims, damage and destruction, condemnation, notice to mortgagee and subordination and attornment, (B) provide for uses of the Property that are consistent with first-class management thereof, and (C) be on a standard form lease reasonably approved by Lender subject to modification as reasonably required by Borrower. Additionally, at any time that Lender does not have first priority liens on at least four of the properties listed on Schedule 11.22, Borrower shall not execute any Major Lease nor materially modify or voluntarily terminate any such Major Lease (except for terminations by reason of a material default), in each case without Lender’s prior consent, not to be unreasonably withheld.

Leases; Lease Approval; Lease Termination. (i) Unless otherwise consented to by Lender in writing, all Leases entered into after the date of this Agreement shall (A) be to unaffiliated third parties and under market terms (provided, “market terms” shall not be deemed to require market rents), including, without limitation, those relating to insurance, waiver of claims, damage and destruction, condemnation, notice to mortgagee and subordination and attornment, (B) provide for uses of the Property that are consistent with first-class management thereof, and (C) be on a standard form lease reasonably approved by Lender subject to modification as reasonably required by Borrower. Additionally, at any time that Lender does not have first priority liens on at least four of the properties listed on Schedule 11.22, Borrower shall not execute any Major Lease nor materially modify or voluntarily terminate any such Major Lease (except for terminations by reason of a material default), in each case without Lender’s prior consent, not to be unreasonably withheld.

Leases; Lease Approval; Lease Termination. (ia) Unless otherwise consented to by Lender in writing, all Leases entered into after the date of this Agreement shall shall, in Lender’s reasonable discretion (Ai) be to unaffiliated third parties and under parties, (ii) contain market terms (provided, “market terms” shall not be deemed to require market rents), including, without limitation, those relating to insurance, waiver of claims, damage and destruction, condemnation, notice to mortgagee and subordination and attornment, (Biii) provide for uses of the Property that are consistent with first-class management thereof, and (Civ) be on a standard form lease reasonably approved by Lender subject to modification as reasonably required by Borrower. Additionally, at any time that Lender does not have first priority liens on at least four of the properties listed on Schedule 11.22, Borrower shall not cause Senior Borrower to execute any Major Lease nor materially modify or voluntarily terminate any such Major Lease (except for terminations by reason of a material defaultdefault or in the event tenant has a specific right to terminate provided in the Lease), in each case without Lender’s prior consent, not to be unreasonably withheld.