Common use of Leasing Matters Clause in Contracts

Leasing Matters. Any Leases with respect to any Individual Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property shall be subject to the prior written approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involved; (iii) shall not collect more than five percent (5%) of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any Individual the Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property 8,000 square feet shall be subject to the prior written approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all LeasesLeases not previously delivered to Lender. All renewals of Leases and all proposed Leases shall provide for rental rates (to the extent not already set forth in the Lease) comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documentsterms. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involvedinvolved except that no termination by Borrower or acceptance of surrender by a Tenant of any Leases shall be permitted unless by reason of a tenant default, in connection with a tenant relocation within the applicable Individual Property, or re-tenanting of any portion of the applicable Individual Property with respect to which the tenant has “gone dark” and then only in a commercially reasonable manner to preserve and protect the Property (or any portion thereof); provided, however, that no such termination or surrender of any Lease covering more than 10,000 square feet will be permitted without the prior written consent of Lender unless a material default thereunder exists and the applicable Tenant has been provided all notice and cure rights required under such Lease or by applicable law; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent, not to be unreasonably withheld, delayed or conditioned. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender. Lender agrees to enter into a subordination, non-disturbance agreement with tenants with respect to any Lease in a form substantially similar to the subordination, non-disturbance agreements entered into in connection with the closing of the Loan. Borrower has indicated that it is currently negotiating a lease with CarolinaEast Medical Center, a North Carolina not-for-profit corporation (the “CarolinaEast”), for a portion of the Individual Property located at 4000 Xxxxxxxx Xx., Mxxxxxxx City, NC 28557. So long as the final lease with CarolinaEast is executed prior to October 31, 2018, Lender agrees that the following economic terms included in any such lease will be deemed approved: triple net lease for a minimum rent of $20.00 per square foot and for a term of at least 10 years. Notwithstanding anything to the contrary contained herein, to the extent Lender’s prior approval is required for any leasing matters set forth in this Section 5.1.20, Lender shall have ten (10) Business Days from receipt of written request (which such written request shall include a copy of the proposed lease, market information relating to leases comparable to the proposed lease, financial information with respect to the proposed tenant to the extent in Borrower’s possession and such other relevant materials and information used by Borrower in connection with negotiation of the proposed Lease), to approve or disapprove such matter, provided that the front page of any such request to Lender is marked, in not less than fourteen (14) point bold face type, underlined and using all capital letters, as follows: “LENDER’S RESPONSE IS REQUIRED WITHIN TEN (10) BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF A LOAN AGREEMENT BETWEEN THE UNDERSIGNED AND LENDER.” In the event additional information is reasonably requested by Lender within such ten (10) Business Day period, Lender shall have three (3) Business Days from receipt of all additional requested information in which to approve or disapprove such the applicable matter, notwithstanding the date of the original request. In the event that Lender fails to respond to the applicable matter in question within such time frames as set forth above, Lender’s failure to respond shall constitute Lender’s deemed approval of the particular approval request.

Leasing Matters. Any Leases with respect to any Individual the Property written executed after the date hereof, for more than fifty percent 5,000 square feet (50%“Lease Threshold Amount”) of the leasable space at such Individual Property shall be subject to the prior written approval of approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which that would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower shall, and shall cause Operating Tenant to, (ia) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (iib) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (involved except that no termination by Borrower or Operating Tenant or acceptance of surrender by a tenant of any portion thereof) involvedLeases shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Property; provided, however, that no such termination or surrender of any Lease covering more than the Lease Threshold Amount shall be permitted without the consent of Lender; (iiic) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (ivd) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (ve) shall not alter, modify or change the terms of any Lease in excess of the Leases Lease Threshold Amount in a manner inconsistent with the provisions of the Loan Documents; and (vif) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not not, and shall cause Operating Tenant to not, enter into a lease of all or substantially all of any Individual the Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any Individual the Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property hereof shall be subject to the prior written approval of approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involved; (iii) shall not collect more than five percent (5%) of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (involved except as contemplated that no termination by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.52

Leasing Matters. Any Leases with respect to any Individual the Property written after the date hereof, for more than fifty percent (50%) 15,000 square feet and any Leases to Affiliates of the leasable space at such Individual Property Borrower shall be subject to the prior written approval of approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayeddelayed and which approval shall be deemed given if Lender does not respond within five (5) Business Days after receipt of such proposed Lease, provided that the notice requesting such approval shall contain a legend stating that Lender's approval shall be deemed given if Lender fails to respond within such five (5) Business Day period. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates, as reasonably determined by Borrower. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially and adversely affect Lender’s 's rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of saleforeclosure. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to materially impair the value of the Property (involved except that no termination by Borrower or acceptance of surrender by a tenant of any portion thereof) involvedLeases shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Property provided, however, that no such termination or surrender of any Lease covering more than 15,000 square feet will be permitted without the written consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s 's interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases Major Lease with respect to any Individual portion of the Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property hereof shall be subject to the prior written approval of Lender. So long as no Event of Default is continuing, which approval any Minor Lease with respect to any of the Property written after the date hereof shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower subject to the prior written approval of Lender if it shall furnish be written substantially in accordance with a standard lease form approved by Lender with executed copies of all Leasesand shall satisfy the other requirements hereof. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and terms, shall not contain any terms which would materially affect Lender’s rights under the Loan DocumentsDocuments and shall provide for rental rates comparable to existing local market rates. All Major Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Notwithstanding anything to the contrary contained herein, all Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender. Upon request, Borrower shall furnish Lender with executed copies of all Leases. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (involved except that no termination by Borrower or acceptance of surrender by a Tenant of any portion thereof) involvedLeases shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Property; provided, however, that no such termination or surrender of any Major Lease will be permitted without the prior written consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any All Leases with respect to entered into by Borrower and all modifications, extensions and renewals of any Individual Property written Leases (including, without limitation, the Sabre Leases) executed after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property hereof shall be subject to the prior written approval of approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage encumbering the applicable Individual Property and that the lessee agrees to attorn attorney to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Individual Property (involved except that no termination by Borrower or acceptance of surrender by a tenant of any portion thereof) involvedLeases shall be permitted without the consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) provided in this Section 5.1.20, shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.not

Leasing Matters. Any Leases with respect to any Individual Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property shall be subject to the Without Lender’s prior written approval consent, except as otherwise in the ordinary course of Lenderits business, which approval Borrower shall not be unreasonably withheldcause or permit Mortgage Borrower to cancel, conditioned terminate, abridge or delayedmaterially modify the terms of any Lease, renew or extend the term of any Lease, enter into a new Lease, or permit the assignment of any Lease. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which that would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof Borrower shall provide that they are subordinate cause Mortgage Borrower to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (ia) shall observe and perform the obligations imposed upon the lessor landlord under the Leases in a commercially reasonable manner; (iib) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee tenant thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involved; (iiic) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate Rents more than one (1) month in advance (other than security deposits); (ivd) shall not execute any other assignment of lessorlandlord’s interest in the Leases or the Rents (except as contemplated by the Mortgage Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vie) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any Individual Property the Premises written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property Closing Date shall be subject to the prior written approval of Lenderthe Bank, which approval shall not may be unreasonably withheld, conditioned given or delayedwithheld in the sole discretion of the Bank. Upon request, Borrower Borrowers shall furnish Lender the Bank with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market ratesrates (unless such rental rates are otherwise set forth in the Leases executed prior to the Closing Date). All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lenderthe Bank’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage encumbering the Premises and that the lessee tenant thereunder agrees to attorn to Lender the Bank or any purchaser at a sale by foreclosure or power of sale. Borrower Borrowers (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee tenant thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (Premises involved except that no termination by Borrowers or acceptance of surrender by a tenant of any portion thereof) involvedLease shall be permitted without the written’ consent of the Bank which consent may be withheld in the sole discretion of the Bank; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan DocumentsDocuments without the prior written consent of the Bank, which consent may be withheld in the sole discretion of the Bank; (vi) shall not consent to approve any assignment or, unless such consent is not required under the Lease, subletting under any Lease; and (vivii) shall execute and deliver at the reasonable request of Lender the Bank all such further assurances, confirmations and assignments assignment in connection with the Leases as Lender the Bank shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any Individual the Property written executed after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property 10,000 square feet shall be subject to the prior written approval of by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially and adversely affect Lender’s 's rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Lender agrees to provide non-disturbance agreements from subordinating tenants leasing more than 10,000 square feet on Lender's then standard form. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (except that no termination by Borrower or any portion thereof) involved; (iii) shall not collect more than five percent (5%) acceptance of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated surrender by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all tenant of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent permitted unless by reason of Lender.a tenant default and then only in a

Leasing Matters. Any Leases with respect to any an Individual Property in excess of three thousand (3,000) square feet written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property hereof shall be subject to the prior written approval of approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower and Property Owner shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument encumbering the applicable Individual Property and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower and Property Owner shall, and shall cause Operating Lessee to, (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Individual Property involved except that no termination by Borrower or Property Owner or acceptance of surrender by a tenant of any Leases in excess of three thousand (3,000) square feet shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property; provided, however, that no such termination or surrender of any portion thereof) involvedLease will be permitted without the written consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate Rents more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower neither Borrower, Property Owner nor Operating Lessee shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything Except for the immediately preceding sentence, the foregoing provisions of this Section 5.1.20 shall not apply in any manner to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of LenderOperating Lease.

Leasing Matters. Any Leases with respect to any Individual the Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property 7,500 square feet shall be subject to the prior written approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involvedinvolved except that no termination by Borrower or acceptance of surrender by a Tenant of any Leases shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Property (or any portion thereof); provided, however, that no such termination or surrender of any Lease covering more than 7,500 square feet will be permitted without the prior written consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any Individual the Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property 18,000 square feet shall be subject to the prior written approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all LeasesLeases not previously delivered to Lender. All renewals of Leases and all proposed Leases shall provide for rental rates (to the extent not already set forth in the Lease) comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documentsterms. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involvedinvolved except that no termination by Borrower or acceptance of surrender by a Tenant of any Leases shall be permitted unless in connection with a unilateral right of a Tenant set forth in such Tenant’s Lease that does not require Borrower’s approval, by reason of a tenant default, in connection with a tenant relocation within the applicable Individual Property, or re-tenanting of any portion of the applicable Individual Property with respect to which the tenant has “gone dark” and then only in a commercially reasonable manner to preserve and protect the Property (or any portion thereof); provided, however, that no such termination or surrender of any Lease covering more than 18,000 square feet will be permitted without the prior written consent of Lender unless a material default thereunder exists and the applicable Tenant has been provided all notice and cure rights required under such Lease or by applicable law; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent, not to be unreasonably withheld, delayed or conditioned. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender. Lender agrees to enter into a subordination, non-disturbance agreement with tenants with respect to any Lease in a form substantially similar to the subordination, non-disturbance agreements entered into in connection with the closing of the Loan. Notwithstanding anything to the contrary contained herein, to the extent Lender’s prior approval is required for any leasing matters set forth in this Section 5.1.20, Lender shall have ten (10) Business Days from receipt of written request (which such written request shall include a copy of the proposed lease, market information relating to leases comparable to the proposed lease, financial information with respect to the proposed tenant to the extent in Borrower’s possession and such other relevant materials and information used by Borrower in connection with negotiation of the proposed Lease), to approve or disapprove such matter, provided that the front page of any such request to Lender is marked, in not less than fourteen (14) point bold face type, underlined and using all capital letters, as follows: “LENDER’S RESPONSE IS REQUIRED WITHIN TEN (10) BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF A LOAN AGREEMENT BETWEEN THE UNDERSIGNED AND LENDER.” In the event additional information is reasonably requested by Lender within such ten (10) Business Day period, Lender shall have three (3) Business Days from receipt of all additional requested information in which to approve or disapprove such the applicable matter, notwithstanding the date of the original request. In the event that Lender fails to respond to the applicable matter in question within such time frames as set forth above, Lender’s failure to respond shall constitute Lender’s deemed approval of the particular approval request.

Leasing Matters. Any Leases of space other than for residential occupancy by the tenant thereunder with respect to any an Individual Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property 10,000 square feet shall be subject to the prior written approval of approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s 's rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument Mortgage encumbering the applicable Individual Property and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Individual Property (involved except that no termination by Borrower or acceptance of surrender by a tenant of any portion thereof) involvedLeases shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property provided, however, that no such termination or surrender of any Lease other than for residential use covering more than 10,000 square feet will be permitted without the written consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits), provided that, Borrower's owning Individual Property in the State of Massachusetts may collect one months' additional pre-paid rent in lieu of security deposits, ; (iv) shall not execute any other assignment of lessor’s 's interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any Individual the Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property 10,000 square feet shall be subject to the prior written approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon requestFollowing the occurrence of an Event of Default and upon request by Lender, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (involved except that no termination by Borrower or acceptance of surrender by a Tenant of any portion thereof) involvedLeases shall be permitted unless by reason of a tenant default and then only in a commercially reasonable manner to preserve and protect the Property; provided, however, that no such termination or surrender of any Lease covering more than 10,000 square feet will be permitted without the prior written consent of Lender; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); provided, however, that Borrower shall have the right to collect, at any one time, not more than five percent (5%) of the gross annual Rent in advance; (iv) shall not execute any other assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual the Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any No Individual Property written after the date hereofBorrower shall, for more than fifty percent (50%) of the leasable space at such Individual Property shall be subject to the without Lender's prior written approval of Lenderconsent, which approval shall not be unreasonably withheldenter into, conditioned modify, amend or delayedrenew any Lease for space over 1,500 square feet. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to that are at or greater than existing local market ratesrates for space at hotel properties similar to the applicable Property. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially adversely affect Lender’s 's rights under the Loan Documents. All Leases executed after the date hereof shall provide (either by the terms of the Lease or pursuant to a subordination and non-disturbance agreement with Lender) that they are subordinate to the Security Instrument Mortgage encumbering the applicable Property and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of saleLender. Borrower (i) shall observe and perform or cause to be performed the obligations imposed upon the lessor under the Leases in a commercially reasonable mannerLeases; (ii) shall enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Property (or any portion thereof) involvedperformed; (iii) shall not collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate more than one (1) month in advance (other than security deposits); (iv) shall not execute any other assignment of lessor’s 's interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with within the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Any Leases with respect to any an Individual Property written after the date hereof, for more than fifty percent (50%) of the leasable space at such Individual Property shall be subject to the prior written approval of approved by Mezzanine Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Upon request, Mezzanine Borrower shall furnish Mezzanine Lender with executed copies of all Leases. All renewals of Leases (unless the terms of such renewal are already provided for in the Lease) and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect title to the Properties or Mezzanine Lender’s 's rights under the Mezzanine Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the Security Instrument and that the lessee agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Mezzanine Borrower (i) shall cause Borrower to observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall cause Borrower to enforce and may amend or terminate the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner and in a manner not to impair the value of the Individual Property (involved except that no termination by Borrower or acceptance of surrender by a tenant of any portion thereof) involvedLeases shall be permitted without the prior written consent of Mezzanine Lender; (iii) shall cause Borrower not to collect more than five percent (5%) any of the gross annual rents for all Property in the aggregate Rents more than one (1) month in advance (other than security deposits); (iv) shall cause Borrower not to execute any other assignment of lessor’s 's interest in the Leases or the Rents (except as contemplated by the Loan Documents); (v) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the reasonable request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.Rents