Leasing Restrictions. Without the prior written consent of Lender, Borrowers shall not (i) enter into any leases, (ii) modify the form of lease previously approved by Lender, (iii) modify, amend or terminate any Lease, (iv) accept any rental payment more than 30 days in advance of its due date or (v) enter into any ground lease of the Project. Borrowers shall provide Lender not less than 10 Business Days to review any proposed leases and any proposed modifications or amendments to any Lease. All Leases must contain an automatic attornment provision whereby in the event of a foreclosure, the tenant automatically shall recognize the successor owner as landlord and such tenant shall have no right to terminate its Lease in the event of such foreclosure. If Borrowers enter into any new Lease or any modification or renewal of any existing Lease, at Lender’s request, Borrowers shall cause the Tenant thereunder to execute a subordination, non-disturbance and attornment agreement in form and substance reasonably satisfactory to Lender. Borrowers shall provide Lender with a copy of the fully executed original of all Leases promptly following their execution. Within 10 Business Days after written request from Borrower, Lender shall execute and deliver a subordination, non-disturbance and attornment agreement substantially in the form reasonably approved by Lender (with such modifications thereto requested by the tenant as may be reasonably acceptable to Lender) to any tenant under any Lease and shall negotiate in good faith the terms of such subordination, non-disturbance and attornment agreements with proposed tenants under proposed Leases (or existing tenants under proposed extensions or renewals of existing Leases). Notwithstanding the foregoing, so long as no Event of Default exists Borrowers may, without Lender’s prior written consent, enter into any Lease for 10,000 net rentable square feet of space or less in any Project so long as: (A) such Lease is on the form previously approved by Lender without material modifications; (B) the term of such Lease is at least five (5) years; (C) the rent for such Lease is not less than 95% of the market rent and the rent for any renewal option is not less than 95% of the market rent at the time of renewal; (D) the tenant improvement costs and leasing commissions relating to such Lease to be paid by Borrowers are “market” and otherwise comparable to improvements and commissions for other tenants engaged in a similar business; and (E) the aggregate...
Leasing Restrictions. (a) With respect to any Lease with a Major Xxxxxx (a “Major Tenant Lease”), Borrower shall not, without first obtaining Xxxxxx’s prior written consent:
(1) amend or modify any Major Tenant Lease;
(2) extend or renew (except in accordance with mandatory actions by the lessor under the existing Major Tenant Lease provisions, if any, including the exercise by either Prentice Hall or New Cingular Wireless of the renewal options set for in their respective leases that require mandatory actions by the lessor) any Major Tenant Lease;
(3) terminate or accept the surrender of any Major Xxxxxx Xxxxx;
(4) enter into any new Major Tenant Lease; or
(5) accept any (i) prepayment of rent more than one (1) month in advance, (ii) termination fee, or (iii) similar payment.
(b) With respect to any Lease that is not a Major Tenant Lease, Borrower may:
(1) enter into a new Lease on Borrower's standard form lease as approved by Lender (if such new Lease does not give the tenant any rights, whether in the form of expansion rights, rights of first refusal to lease or purchase, or otherwise, relating to property which is not part of the Property and/or would require Borrower and/or Lender to possess or control any property other than the Property to honor such rights and/or would grant such tenant any purchase rights with respect to any portion of the Property);
(2) terminate any Lease which is in default; or
(3) amend any Lease (if such amendment does not give the tenant any rights, whether in the form of expansion rights, rights of first refusal to lease or purchase, or otherwise, relating to property which is not part of the Property and/or would require Borrower and/or Lender to possess or control any property other than the Property to honor such rights and/or would grant such tenant any purchase rights with respect to any portion of the Property); provided, however, that all decisions made by and all actions taken by Borrower pursuant to Subsection 7(b)(1), (2) and (3) above:
Leasing Restrictions. Provided that, on the condition that and only so long as (i) Tenant directly leases from Landlord at least 75,000 square feet of rentable floor area and its Government and Industrial Division is still in occupancy of portions of the Premises, (ii) no Event of Default of Tenant exists, (iii) this Lease is still in full force and effect, and (iv) Tenant has neither assigned this Lease nor sublet the Premises in its entirety (except for an assignment or sublease under Section 5.6.1 above or a permitted occupancy under Section 5.6.6 below), (a) Landlord shall not hereafter directly enter into a lease of other space in the Complex with any of the "Named Companies" (as hereinafter defined), and (b) Landlord agrees to include in all "Future Leases" (as hereinafter defined) the same clause as is contained in Section 5.6.2(i) below (the "Assignment and Subletting Restriction Clause") which would allow Landlord to withhold its consent (and Landlord shall so withhold its consent) to a proposed assignment or sublease that would be in violation of the restrictions of this Section 4.6. Landlord shall use commercially reasonable efforts to enforce the terms of the Assignment and Subletting Restriction Clauses in its Future Leases, but in no event shall Landlord be liable to Tenant (x) for the failure of other occupants of the Complex to comply with the Assignment and Subletting Restriction Clause so long as Landlord has withheld its consent and used commercially reasonable efforts to enforce the same as aforesaid or (y) to the extent that a court of competent jurisdiction determines that the Assignment and Subletting Restriction Clause is invalid and/or unenforceable. Notwithstanding the foregoing, the provisions of this Section 4.6 shall not apply to the Existing Leases set forth in Exhibit 0 hereto or to any business operations or other activities of the holders of the tenant(s) interest(s) in the Existing Leases or, to the extent such Existing Leases do not contain the Assignment and Subletting Restriction Clause, of the subtenants or assignees under the Existing Leases. For the purposes hereof:
(i) The "Named Companies" are Samsung, LG, Yujin, Xxxxxx-Xxxxxx, Qinetiq, Xxxxx-Vanguard, Northrop Grummann's Remotec division, General Dynamics Robotic Systems, and any successor-in-interest to the foregoing entities and/or divisions, as the case may be, who is engaged in whole or in part in the business of developing or manufacturing robotic devices. Landlord agrees during t...
Leasing Restrictions. Without the prior written consent of Agent, neither Borrower, nor any Owner or Tenant, shall (i) lease any Pool Asset to a single tenant (each herein referred to as a “Triple Net Lease”), or (ii) modify or amend any existing Triple Net Lease to the extent that such amendment or modification includes one or more of the following: (a) reduction of rent (including waiving any rent payments); (b) reduction of term, (c) modification to the obligor, and (d) other material changes that may impact the value of the asset. In connection with the foregoing, Agent shall respond by approving or disapproving the lease within ten (10) days after receipt of the copy from Borrower. Agent’s failure to approve or disapprove the lease within that period shall constitute approval of the lease. Borrower shall pay all reasonable costs incurred by Agent in connection with Agent’s review and approval of tenant leases, including reasonable attorneys’ fees and costs.
Leasing Restrictions. Without the prior written consent of Lender, no Borrower or its agents shall lease space in the Improvements except to Tenant or pursuant to and on the standard form of residency agreements previously approved by Lender, with no material deviations from the standard form except as approved by Lender. Borrowers shall submit to Lender for its review the standard form of residency agreement proposed for the Improvements and any revisions to the form from time to time, which form as so revised must have the prior written approval of Lender and must contain mortgagee protection provisions acceptable to Lender. Any change from the approved mortgagee protection provisions in the standard form residency agreement, or the inclusion of any provision permitting set-off by the tenant, shall be considered a material deviation requiring the approval of Lender. If any Lease fails to meet all of the foregoing requirements, then the Lease is subject to Lender’s approval, and Lender shall respond by approving or disapproving the Lease within ten (10) Business Days after receipt of the copy from Borrowers. Lender’s failure to approve or disapprove the Lease within that period shall constitute approval of the Lease. Borrowers shall pay all reasonable costs incurred by Lender in connection with Lender’s review and approval of tenant Leases, including reasonable attorneys’ fees and costs. Lender does hereby acknowledge and agree that the form of residency agreement provided by Borrowers to Lender in connection with the Loan has been approved.
Leasing Restrictions. Without the prior written consent of Lender (such consent not to be unreasonably withheld, conditioned or delayed), Borrower shall not (i) enter into any non-residential Lease other than arms-length Leases of non-residential space in the Facility entered into in the ordinary course of business, (ii) accept any rental payment under any Lease more than one month in advance of its due date (except in circumstances where a Resident of the Property intends to be away from the Property for a period in excess of one month), or (iii) enter into any Lease or occupancy agreement other than arms-length transactions in the ordinary course of operation of the Property. Borrower will not enter into any residential Lease for a term of more than one year without Lender’s prior written consent, which consent shall not be unreasonably withheld, conditioned, or delayed, and all residential Leases shall be on a form approved by Lender without material modification. All rents, including all pre-paid rents, will be promptly deposited in Borrower’s operating account maintained with Lender.
Leasing Restrictions. To the extent prohibited by the Loan Agreement, without the prior written consent of Beneficiary, Grantor and Grantor’s agents shall not (i) enter into any additional Leases, (ii) modify, amend or terminate any Lease, or (iii) accept any rental payment in advance of its due date.
Leasing Restrictions. All tenants shall be subject to the terms and conditions of this Declaration and the Project Documents. Each Owner shall deliver copies of the Project Documents to any tenant leasing such Owner’s Residential Unit, and to any management company engaged by such Owner to lease the Residential Unit on the Owner’s behalf. Each Owner shall cause his, her or its tenants or other occupants to comply with this Declaration and the Project Documents and, to the extent permitted by applicable law, shall be responsible and liable for all violations and losses caused by such tenants or occupants, notwithstanding the fact that such tenants or occupants are also fully liable for any violation of each and all of those documents. No sign that is Visible from Neighboring Property may be placed on a Lot or any other area within the Project indicating that a Lot is available for lease at any time during the twenty-four (24) months after the initial conveyance of a Lot with a Residential Unit constructed thereon to an Owner from a Declarant or a Designated Builder (or by a trustee for the benefit of a Declarant or a Designated Builder). No Lot may be leased for a period of less than thirty (30) days. The provisions of this Section 5.16 shall not apply to any Declarant’s or any Designated Builder’s use of Lots owned by (or leased to) a Declarant or a Designated Builder, as applicable, as a model home or for marketing purposes.
Leasing Restrictions. Without the prior written consent of Lender, Borrower and Borrower’s agents shall not (a) enter into any additional leases, (b) modify, amend or terminate the Lease, or (c) accept any rental payment in advance of its due date. Notwithstanding the foregoing, Borrower shall have the right to enter into new leases with third parties for occupancy of the Property, provided that any of such leases are subject and subordinate to the Liens in favor of Lender under this Agreement and are approved by Lender in writing.
Leasing Restrictions. Without the prior written consent of Administrative Agent, Borrower and Borrower’s agents shall not (i) materially modify or amend or terminate any Lease or any letter of credit provided by the Tenant under any Lease, or (ii) accept any rental payment more than one month in advance of its due date. Borrower shall provide Administrative Agent with a copy of the fully executed Leases promptly following their execution.
