Leasing of Space. A. Unless otherwise approved by Lender in writing in advance, all Leases shall be entered into with bona fide third party tenants financially capable of performing their obligations thereunder and shall reflect arms-length transactions at the then current market rate for comparable space. Lender acknowledges its approval of the XM Radio Lease. Borrower shall perform all obligations required to be performed by it as landlord under any Lease. Borrower shall not accept any rent (however denominated) or other charges under any of the Leases more than one (1) month in advance.
B. Borrower shall not enter into, or modify, amend, terminate or accept a surrender or cancellation of, any Lease, or consent to any assignment or subletting under any Lease, without Lender's prior written consent except as follows:
(i) Borrower may terminate Leases other than Major Leases without Lender's prior written consent if Borrower would in good faith terminate such Lease in the ordinary course of its business.
(ii) Lender's prior written consent shall not be required for any new Lease (a) which is not a Major Lease, (b) which does not include any Material Lease Provisions, (c) where the term of the Lease (including any options to extend the initial term of the Lease) does not exceed ten (10) years, and (d) where the proposed use of the portion of the Project leased does not involve the use, storage, processing, manufacture, transportation, disposal or release of Hazardous Substances.
(iii) Lender's prior written consent shall not be required for any amendment or modification of a Lease if the amendment or modification contains no Material Lease Provision.
(iv) Lender's prior written consent shall not be required in connection with any sublease or assignment of any Lease if either (a)(1) the assignee or subtenant meets the requirements of SECTION 7.4(A), and (2) the proposed use of the Project by such assignee or subtenant does not involve the use, storage, processing, manufacture, transportation, disposal or release of Hazardous Substances in excess of, or to a greater extent than, the use permitted under such Lease (provided that the Lease is entered into in accordance with the terms of the Loan Documents), or (b) such sublease or assignment does not require Borrower's consent under the terms of the Lease executed by Borrower in accordance with the terms of this Agreement.
C. Borrower shall promptly deliver to Lender such Leases, rent rolls, leasing reports, operating statements...
Leasing of Space. A. Unless otherwise approved by Lender in writing in advance, all Leases shall be entered into with bona fide third party tenants financially capable of performing their obligations thereunder and shall reflect arms-length transactions at the then current market rate for comparable space. Borrower shall perform all obligations required to be performed by it as landlord under any Lease. With respect to any Project that is not a mini-storage facility, Borrower shall not accept any rent (however denominated) or other charges under any of the Leases more than one (1) month in advance. With respect to any Project that is a mini-storage facility, Borrower shall not accept any rent (however denominated) or other charges under any of the Leases more than two (2) months in advance; provided that for each such Project, Borrower may accept up to one (1) year of advance rent with respect to an aggregate maximum of five percent (5%) of the net rentable square feet of space within the applicable Project.
B. Borrower shall not enter into, or modify, amend, terminate (except upon the stated expiration of the term thereof) or accept (where Borrower has the legal right to accept or
Leasing of Space. Manager agrees to use its reasonable and good faith efforts to have the Property fully rented under leases (“Leases”) to tenants (“Tenants”) consistent with current practices or such other practices from time to time directed by the Company. Owner shall have the right to (x) approve the persons engaged by Manager to perform the leasing functions under Section 2.3 and (y) after any such approval, to revoke any such approval on a reasonable basis in accordance with the terms of the applicable Exclusive Listing Agreement. In connection with the foregoing, Manager shall act as leasing supervisor for the 237 11th Property and shall perform the following services:
Leasing of Space. Seller shall (or shall cause the Subsidiaries to) perform all of their material obligations under the Leases prior to Closing. Seller and the Subsidiaries shall be entitled to modify, amend, enter into, and renew any Leases in the ordinary course of business, provided that all Leases are on Seller’s standard form and are negotiated at arms-length with third parties that are not controlled by or under common control with Seller. Notwithstanding the foregoing, after the expiration of the Extended Inspection Period Seller and the Subsidiaries shall not modify, amend, enter into or renew any non mini-storage leases without the consent of Buyer, which consent will not be unreasonably withheld or delayed.
Leasing of Space. Manager agrees to use its commercially reasonable and good faith efforts to oversee the leasing of each of the Projects in a manner consistent with the Business Plan to tenants acceptable to Owner and, in connection therewith, Manager shall act as leasing advisor (including review, analysis and assistance in negotiation of lease terms), and advise Owner in all matters regarding the retention of the Leasing Agent. Owner and not Manager shall have final approval (in its sole discretion) over, and shall execute all Leases (including amendments), unless otherwise agreed in writing. Manager shall submit to Owner periodically, in a timely manner, monthly leasing activity reports. No additional compensation shall be due or payable to Manager on account of its leasing responsibilities.
Leasing of Space. With respect to the leasing of space for occupancy prior to the Agency’s issuance of a Release of Construction Covenants for the applicable Subarea, the Developer shall not be required to submit the documentation otherwise required for a Transfer by § 702.1, nor obtain the assignment and assumption agreement otherwise required by § 702.2, nor pay the costs referred to in § 702.1; provided, however, that such lease shall contain appropriate provisions conforming the use and operation of the premises to this Agreement and the covenants of the Grant Deed and the Agreement Containing Covenants Affecting Real Property, and further provided, that the Developer has complied with Section 103.1 of this Agreement.
Leasing of Space. Sellers shall perform all of their obligations under the Leases prior to Closing. Sellers shall be entitled to modify, amend, enter into, and renew any Leases in the ordinary course of business, provided that all Leases are on Sellers’ standard form and are negotiated at arms-length with third parties that are not controlled by or under common control with Sellers. Notwithstanding the foregoing, after the expiration of the Inspection Period Sellers shall not modify, amend, enter into or renew any non mini-storage leases without the consent of Buyer, which consent will not be unreasonably withheld or delayed.
Leasing of Space. Borrower will comply with all of the terms and ---------------- conditions of Section 22 of the Lease (which governs Borrower's rights and ---------- obligations with respect to assignments of the Lease or subleases of portions of the Project).
Leasing of Space. From the Effective Date until the Closing or earlier termination of this Agreement, Seller will not lease any space in the Improvements without the prior written approval of Purchaser (such approval not to be unreasonably withheld, conditioned or delayed). For avoidance of doubt, the foregoing limitation upon Seller shall apply with respect to Lease renewals and Lease extensions with respect to Leases existing as of the Effective Date (other than any renewals or extensions exercised as of right by a party other than the Seller under such Lease), but shall not apply with respect to nightly room rentals. If the Closing occurs, all costs and expenses incurred and paid by Seller under (i) any new Lease entered into after the Effective Date with Purchaser’s approval (or deemed approval as hereafter provided) and (ii) any extension, renewal or modification of an existing Lease entered into after the Effective Date pursuant to rights of the tenant contained in the Lease or otherwise with Purchaser’s approval (or deemed approval as hereafter provided), shall be paid by Purchaser in accordance with Section 6.4(b) of this Agreement. Said costs and expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorneys’ fees. If Purchaser does not deliver written notice to Seller of its approval or disapproval of any matters for which Seller seeks Purchaser’s approval as set forth above within five (5) Business Days after Purchaser’s receipt of Seller’s request for such approval, Purchaser shall be deemed to have approved such matters and to have agreed to assume all obligations with respect thereto.
Leasing of Space. Seller shall be entitled to continue to lease the apartments in a manner consistent with the current leasing practices, provided however, that Seller will not execute any Lease of a term of greater than one (1) year.
