Common use of Leasing; License Agreements Clause in Contracts

Leasing; License Agreements. As used in this Section 6.1.4, “sublease” means a sublease, sub-sublease and any other sublease at any level. Seller will cause AFE, PXR, PXURA and PXLA not to (i) amend or terminate any existing Lease or License Agreement, (ii) consent to the assignment of any Lease or License Agreement, (iii) enter into any new Lease or new License Agreement, (iv) grant their consent, to the extent AFE’s, PXR’s, PXURA’s or PXLA’s consent is required, to a sublease of the Real Property, a modification of a sublease, an assignment of a sublease or other item for which a consent is required under any Lease or License Agreement or (v) grant an acknowledgement with respect to a sublease of the Real Property, a modification of a sublease or an assignment of a sublease (the foregoing items (i), (ii), (iii), (iv) and (v) are each referred to herein as, a “Lease Event”) after the Effective Date and prior to the Closing Date without first providing Purchaser (a) all relevant supporting documentation, as reasonably determined by Seller, including, without limitation, financial information for the assignee, tenant, subtenant and any guarantor to the extent in Seller’s, AFE’s, PXR’s, PXURA’s or PXLA’s possession, and (b) as to any Lease Event which is to be executed or granted after the expiration of the Inspection Period, Seller’s request for Purchaser’s approval. If Purchaser’s approval is requested by Seller as to any Lease Event, Purchaser shall be held to the same standard for approval as Seller, AFE, PXR, PXURA, or PXLA, as applicable, is held to in the document giving rise to such approval, consent, or acknowledgement right, and Purchaser agrees to give Seller written notice of its approval or disapproval of a proposed Lease Event within three (3) Business Days after Purchaser’s receipt of the items in Section 6.1.4(a) and Section 6.1.4(b). If Purchaser does not respond to Seller’s request within such time period, then Purchaser will be deemed to have approved such Lease Event. Purchaser’s approval rights and obligations will vary depending on whether such Lease Event is to be executed or granted before or after the expiration of the Inspection Period, as follows:

Leasing; License Agreements. As used in this Section 6.1.4, “sublease” means a sublease, sub-sublease and any other sublease at any level. Seller will cause AFE, PXR, PXURA and PXLA not to (i) amend or terminate any existing Lease or License Agreement, (ii) consent to the assignment of any Lease or License Agreement, (iii) enter into any new Lease or new License Agreement, Agreement or (iv) grant their its consent, to the extent AFE’s, PXR’s, PXURA’s or PXLASeller’s consent is required, to a sublease of the Real Property, a modification of a sublease, an or assignment of a sublease covering the Property, a substitution of the Property covered by the Lease with The Goodyear Tire & Rubber Company as a result of a Casualty or any other item for which a consent is required under any Lease or License Agreement or (v) grant an acknowledgement with respect to a sublease of the Real Property, a modification of a sublease or an assignment of a sublease (the foregoing items (i), (ii), (iii), (iv) and (viv) are each referred to herein as, a “Lease Event”) after the Effective Date and prior to the Closing Date without first providing Purchaser (a) all relevant supporting documentation, as reasonably determined by Seller, including, without limitation, financial information for the assignee, tenant, subtenant and any guarantor to the extent in Seller’s, AFE’s, PXR’s, PXURA’s or PXLA’s possession, and (b) as to any Lease Event which is to be executed or granted after the expiration of the Inspection Period, Seller’s request for Purchaser’s approval. If Purchaser’s approval is requested by Seller as to any Lease Event, Purchaser shall be held to the same standard for approval as Seller, AFE, PXR, PXURA, or PXLA, as applicable, Seller is held to in the document giving rise to such approval, consent, approval or acknowledgement consent right, and Purchaser agrees to give Seller written notice of its approval or disapproval of a proposed Lease Event within three (3) Business Days after Purchaser’s receipt of the items in Section 6.1.4(a) and Section 6.1.4(b). If Purchaser does not respond to Seller’s request within such time period, then Purchaser will be deemed to have approved such Lease Event. Purchaser’s approval rights and obligations will vary depending on whether such Lease Event is to be executed or granted before or after the expiration of the Inspection Period, as follows:

Leasing; License Agreements. As used in this Section 6.1.4, “sublease” means a sublease, sub-sublease and any other sublease at any level. Seller will cause AFE, PXR, PXURA and PXLA the Subsidiary not to (i) amend or terminate any existing Lease or License Agreement, (ii) consent to the assignment of any Lease or License Agreement, (iii) enter into any new Lease or new License Agreement, (iv) grant their consent, to the extent AFE’s, PXR’s, PXURA’s or PXLAthe Subsidiary’s consent is required, to a sublease of the Real Property, a modification of a sublease, an assignment of a sublease or other item for which a consent is required under any Lease or License Agreement or (v) grant an acknowledgement with respect to a sublease of the Real Property, a modification of a sublease or an assignment of a sublease (the foregoing items (i), (ii), (iii), (iv) and (v) are each referred to herein as, a “Lease Event”) after the Effective Date and prior to the Closing Date without first providing Purchaser (a) providing Purchaser all relevant supporting documentation, as reasonably determined by Seller, including, without limitation, financial information for the assignee, tenant, subtenant and any guarantor to the extent in Seller’s, AFE’s, PXR’s, PXURA’s or PXLAthe Subsidiary’s possession, and (b) as to any Lease Event which is to be executed or granted after the expiration of the Inspection Period, Seller’s request for Purchaser’s approval. If obtaining Purchaser’s approval is requested by Seller as to any of such Lease Event, . Purchaser shall be held to the same standard for approval as Seller, AFE, PXR, PXURA, Seller or PXLAthe Subsidiary, as applicable, is are held to in the document giving rise to such approval, consent, or acknowledgement right, and Purchaser agrees to give Seller written notice of its approval or disapproval of a proposed Lease Event within three (3) Business Days after Purchaser’s receipt of the items in Section 6.1.4(a) and Section 6.1.4(b). If Purchaser does not respond to Seller’s request within such time period, then Purchaser will be deemed to have approved such Lease Event. Purchaser’s So long as Purchaser has complied with the standard for review described above, Purchaser may withhold its approval rights in its reasonable discretion, and obligations Seller will vary depending on whether cause the Subsidiary not to execute or grant such Lease Event is without Purchaser’s written approval. Seller shall cause the Subsidiary not to be executed apply any tenant or granted before licensee security deposits on account of any alleged default by any tenant or after licensee unless the expiration Subsidiary has terminated the applicable Lease or License Agreement and obtained possession of the Inspection Period, demised or licensed premises. All tenant and licensee security deposits collected and not applied by the Subsidiary as follows:of the Effective Date are set forth on Schedule 6.1.4.

Leasing; License Agreements. As used in this Section 6.1.4, “sublease” means a sublease, sub-sublease and any other sublease at any level. Seller will cause AFE, PXR, PXURA and PXLA not to (i) amend or terminate any existing Lease or License Agreement, (ii) consent to the assignment of any Lease Agreement or License Agreement, (iii) enter into any new Lease or new License Agreement, (iv) grant their consent, to the extent AFE’s, PXR’s, PXURA’s or PXLA’s consent is required, to a sublease of the Real Property, a modification of a sublease, an assignment of a sublease or other item for which a consent is required under any Lease or License Agreement or (v) grant an acknowledgement with respect to a sublease of the Real Property, a modification of a sublease or an assignment of a sublease (the foregoing items (i), (ii), (iii), (iv) and (v) are each referred to herein as, a “Lease Event”) after the Effective Date and prior to the Closing Date without first providing Purchaser (ai) all relevant supporting documentation, as reasonably determined by Seller, including, without limitation, tenant financial information for the assignee, tenant, subtenant and any guarantor to the extent in Seller’s, AFE’s, PXR’s, PXURA’s or PXLA’s possession, and (bii) as unless the new Lease or amendment to any existing Lease Event which is to be executed or granted after the expiration for a month-to-month tenancy of the Inspection Periodoffice space, Seller’s request for Purchaser’s approval. If Purchaser’s approval is requested by Seller as to any Lease Event, Purchaser shall be held to the same standard for approval as Seller, AFE, PXR, PXURA, or PXLA, as applicable, is held to in the document giving rise to such approval, consent, or acknowledgement right, and Purchaser agrees to give Seller written notice of its approval or disapproval of a proposed amendment or termination of a Lease Event or License Agreement or new Lease or new License Agreement within three (3) Business Days business days after Purchaser’s receipt of the items in Section 6.1.4(a(i) and Section 6.1.4(b)(ii) of this Subsection 6.1.4. If Purchaser will be deemed to have approved such amendment, termination or new Lease or new License Agreement if (i) Purchaser does not respond to Seller’s request within such time period, then Purchaser will be deemed period or (ii) the new Lease or amendment to have approved existing Lease for office space within the Improvements is for a minimum term of three (3) years with an effective rate over the term of such new Lease Eventor amendment to existing Lease of at least $20 per rentable square foot full service (which effective rental rate must increase at least $.50 for each one-year increase in the proposed term beyond 3 years) and with combined tenant finish allowance and leasing commissions of a maximum of $17.00 per rentable square foot. Purchaser’s approval rights and obligations will vary depending on the type of space being leased and whether such Lease Event the request for approval from Seller is delivered to be executed or granted Purchaser before or after the expiration of the Inspection Period, as follows: