Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Schedule 4 in connection with the leasing of space within the Improvements.
Leasing and Tenant Matters. Each Borrower shall comply with the terms and conditions of Exhibit “D” in connection with the leasing of space within the Improvements of such Borrower. In addition, each Borrower shall deposit with Administrative Agent on the date of Borrower’s receipt thereof any and all termination fees or other similar funds in excess of $1,000,000.00 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise (the “Termination Fee Deposit”). The Termination Fee Deposit shall be deposited into an interest-bearing account maintained with Administrative Agent for the benefit of Borrowers. Administrative Agent shall make the Termination Fee Deposit available to reimburse the applicable Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property of such Borrower which shall be disbursed in accordance with Administrative Agent’s reasonable customary terms and conditions relating to the disbursement of tenant improvement costs and leasing commissions under loans made or administered by Administrative Agent. After a vacated space has been re-leased to another tenant, any amounts remaining under the Termination Fee Deposit shall, at the Borrower’s election, be returned to the Borrower or be applied to repay a portion of the outstanding balance of the Loan. If a Default has occurred and is continuing, then Administrative Agent shall have the option to apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 1.5 of this Agreement. Notwithstanding the foregoing, so long as no Default or Potential Default has occurred and is continuing, Administrative Agent shall, after any Property has been released pursuant to Section 9.29 hereof, refund all Termination Fee Deposits applicable to such Property to the Borrower which is the owner of such Property.
Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Schedule 4 in connection with the leasing of space within the Improvements. In addition, Borrower shall deposit with Lender on the date of Borrower’s receipt thereof any and all termination fees or other similar funds in excess of $250,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Property (the “Termination Fee Deposit”). Lender shall have the right, in its reasonable discretion, to either (a) make the Termination Fee Deposit available to reimburse Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property which shall be disbursed in accordance with the terms and conditions of Schedule 2 attached hereto, or to apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 4 of the Note.
Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Schedule 2 in connection with the leasing of space within the Property.
Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Schedule 4 in connection with the leasing of space within the Improvements. In addition, Borrower shall deposit with Lender on the date of Borrower’s receipt thereof any and all termination fees or other similar funds paid by tenant in connection with any tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Property (the “Termination Fee Deposit”). Lender shall have the right, in its sole and absolute discretion, at any time when an uncured Event of Default exists, to either (a) make the Termination Fee Deposit available to reimburse Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property which shall be disbursed in accordance with the terms and conditions of Schedule 2 attached hereto, or (b) apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 4 of the Note at any time when an unsecured Event of Default exists; provided that if no uncured Event of Default exists Lender shall make the Termination Fee Deposit available for the purposes specified in clause (a).
Leasing and Tenant Matters. The final sentence of Section 7 of Exhibit I of the Original Loan Agreement is hereby deleted and replaced with the following: “Further Borrower shall not modify any terms or provisions of the Lease without prior written consent of the Required Lenders, which consent shall be in the Required Lenders’ sole and absolute discretion.”
Leasing and Tenant Matters. Borrower, Guarantor and each Permitted Subsidiary shall comply with the terms and conditions of Schedule 3 in connection with the leasing of space within the Improvements.
Leasing and Tenant Matters. Borrower and Lenders agree as follows:
Leasing and Tenant Matters. Each Borrower shall comply with the terms and conditions of Schedule 4 in connection with the leasing of space within the Improvements of such Borrower. In addition, each Borrower shall deposit with Lender on the date of Borrower’s receipt thereof any and all termination fees or other similar funds in excess of $100,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Northridge Property, $250,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Powers Ferry Property, $250,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the West Loop Point Property, $100,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Great Hills Property, $250,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Park Centre Property, or $250,000 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Westech 360 Property (the “Termination Fee Deposit”). Lender shall have the right, in its reasonable discretion, to either (a) make the Termination Fee Deposit available to reimburse the applicable Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property of such Borrower which shall be disbursed in accordance with the terms and conditions of Schedule 2 attached hereto, or to apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 4 of the Note.
Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Schedule 3 in connection with the leasing of space within the Improvements. In addition, Borrower shall deposit with Lender on the date of Borrower’s receipt thereof any and all termination fees or other similar funds paid by tenant in connection with any tenant’s election to exercise an early termination option contained in its respective Lease or otherwise at the Property (the “Termination Fee Deposit”). Lender shall have the right, in its sole and absolute discretion, to either (a) make the Termination Fee Deposit available to reimburse Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property which shall be disbursed in accordance with Lender’s customary practices, terms and conditions for construction lending or (b) apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 4 of the Note.
