Leasing Activities. Manager shall be the exclusive leasing agent of the Project, and shall perform all leasing functions relating to the Project. As provided in Article IX hereof, Manager shall be paid for such leasing activities in conformity with Schedule 5 to this Agreement, which amounts shall be in addition to the compensation otherwise payable to Manager hereunder. Without limiting the generality of the foregoing, Manager's leasing function includes the following:
Leasing Activities. None of Borrower, Guarantors or any Affiliate of Borrower or Guarantors shall prompt, direct, cause or otherwise encourage any tenant or licensee at any Unencumbered Pool Property to relocate to space or acquire other rights at or in connection with other buildings owned by Borrower, a Guarantor or any Affiliate adjacent to the Unencumbered Pool Property, or condominium units within the same development, without the prior written consent of Agent.
Leasing Activities. Except as set forth in Section 5.4 below, Seller shall not, from the Effective Date, enter into any new leases, enter into any modification or amendment to the Lease, or consent to any sublease under the existing Lease, in each case, without the prior written consent of Buyer, which may be given or withheld in Buyer’s sole but reasonable discretion. Seller represents that no leasing commissions, rent concessions or tenant improvement allowances will be due or are owing with respect to any Lease renewals that can be entered into as of right by the tenant.
Leasing Activities. Seller shall not, from and after the Effective Date, enter into any lease affecting the Property or any modification or amendment thereto, or consent to any sublease under a lease, in each case, without the prior written consent of Buyer, which may be given or withheld in Buyer’s sole and absolute discretion. Seller shall copy Buyer on any and all correspondence received from or sent to tenants regarding the Tenant Leases.
Leasing Activities. If the Design Ventures lease is, for any reason, not executed by Design Ventures, then in consideration of Seller depositing the amounts required hereunder in the Escrow Account, Buyer hereby agrees that during the period commencing on the date hereof and ending on the twelve (12) month anniversary of the date hereof (the "SUBSEQUENT LEASING PERIOD"), Seller is hereby granted a license to enter upon the Property for the purposes of, and shall be responsible for, coordinating all leasing activities at the Property for the Vacant Space (but not any other space in the Property). Seller and Buyer each agree to comply with the laws of the State of Illinois in connection with their respective leasing activities. As leasing coordinator, Seller shall work with Buyer's broker to coordinate negotiations with prospective tenants and supervise completion of construction of tenant improvements under leases for the Vacant Space. Buyer shall have the right to reasonably approve all leases executed after the date hereof for Vacant Space; provided however, Buyer has no right to disapprove lease terms equal to or more favorable to the landlord than the terms set forth in the "LEASING GUIDELINES" attached hereto as EXHIBIT B. Buyer agrees to approve or disapprove any lease submitted to Buyer for approval within seven (7) business days after Buyer's receipt thereof and Buyer shall advise Seller of specific reasons for any such disapprovals. If Buyer fails to approve or disapprove of any lease submitted to Buyer within such seven (7) day period of Buyer's receipt thereof, such lease shall be deemed approved by Buyer. Seller shall submit all letters of intent to lease to Buyer for execution and Seller shall periodically advise Buyer of the status of lease negotiations during the Subsequent Leasing Period, including sending drafts of leases to Buyer. During the Subsequent Leasing Period, leases shall be prepared and negotiated through legal counsel recommended by Seller and reasonably approved by Buyer, using the standard form lease prepared by Buyer, or, subject to Buyer's written approval, a tenant form lease. (SIGNATURE PAGE FOLLOWS) SIGNATURE PAGE FOR VACANCY ESCROW AGREEMENT AMONG RUBLOFF GURNEE TOWN CENTRE, L.L.C., INLAND WESTERN GURNEE, L.L.C., AND CHICAGO TITLE INSURANCE COMPANY
Leasing Activities. Until the Closing or earlier termination of this Agreement, Seller shall (a) not amend or modify or renew (except pursuant to existing renewal and/or extension provisions in such Leases) the terms of any of the Leases (not including the Operating Lease) or enter into new leases for all or any portion of the Property, without Buyer’s consent (which consent, except in respect of the Operating Lease, Buyer shall not unreasonably deny, delay or condition), except that Seller (in addition to any renewal pursuant to an existing renewal and/or extension rights) shall have the right (but not the obligation), in Seller’s sole discretion, to enter into new leases or extensions of existing Leases in the ordinary course of business, provided that the terms of such new leases or new extensions shall not be greater than one (1) year (unless cancelable without penalty or premium after such one (1) year; it being agreed that Buyer shall not unreasonably withhold, delay or condition its consent or approval to such new leases or extensions of existing Leases which shall have a term greater than one (1) year), and (b) perform its obligations as landlord under the Leases and shall advise Buyer of any notices of default received by Seller from tenants under the Leases (not including the Operating Lease). Notwithstanding anything to the contrary contained in this Agreement, Seller reserves the right, but is not obligated, to institute summary or other proceedings against any tenant (including without limitation the Restaurant Tenant and/or the Operating Tenant) as a result of a default by the tenant under its Lease prior to the Closing Date. Anything in this Agreement to the contrary notwithstanding, Seller makes no representations and assumes no responsibility with respect to the continued occupancy of the Property or any part thereof by any tenant (including without limitation the Restaurant Tenant) and Seller may terminate any Lease (including without limitation the Restaurant Lease and/or the Operating Lease) and/or allow same to expire prior to Closing in accordance with the provisions of such Lease. Further, Buyer expressly agrees that it shall not be grounds for Buyer’s refusal to close this transaction that any tenant (including without limitation the Restaurant Tenant and/or the tenant under the Operating Lease) is a holdover tenant or is in default under its Lease on the Closing Date, or that such Lease has expired or been terminated by Seller in accordance with its t...
Leasing Activities. Except in the ordinary course of business, Seller shall not, from the Effective Date, enter into any modification or amendment to any Lease.
Leasing Activities. Except as set forth on Schedule 4.5.1, Seller shall not, from and after the Effective Date, enter into any lease affecting the Property (Tenant Lease, Ground Lease or otherwise) or any modification or amendment thereto, or consent to any sublease under a lease, in each case, without the prior written consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, and which consent may be given or withheld in Buyer’s sole discretion after the expiration of the Due Diligence Period. Seller shall copy Buyer on any and all correspondence received from or sent to Tenants regarding such leases and subleases at the notice address below.
Leasing Activities. Prior to the Release Security Date, none of Borrower, Guarantors or any Affiliate of Borrower or Guarantors shall prompt, direct, cause or otherwise encourage any tenant or licensee at any Pool Property to relocate to space or acquire other rights at or in connection with other buildings owned by Borrower, a Guarantor or any Affiliate adjacent to the Pool Property, or condominium units within the same development, without the prior written consent of Agent.
Leasing Activities. Notwithstanding anything contained herein to the contrary, Seller may, in its sole discretion, execute and enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing Lease (all of the foregoing, a “New Lease”) on or prior to the Approval Date provided that Seller provides a complete copy to Purchaser of such New Lease two (2) business days prior to the Approval Date. From and after the Contract Date, Seller shall not enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing Lease unless Seller obtains Purchaser’s advance written consent to such New Lease, which consent may be withheld in Purchaser’s reasonable discretion prior to the Approval Date and in Purchaser’s sole discretion thereafter, but which consent shall be deemed automatically given if Purchaser fails to respond within three (3) business days after Seller makes a written request for same. New Leases shall not include, and Seller shall be free to execute and enter into at any time, any amendments, modifications, renewals or expansions of any Existing Lease pursuant to the terms of such Existing Lease.
