Lenders’ Obligations. Nothing in this Agreement and no action taken by Lender to enforce any provision in the Lease shall be deemed or construed to constitute an agreement by Lender to perform or assume any covenant of Landlord as landlord under the Lease unless and until Lender obtains title to the Leased Premises by foreclosure of the Security Instrument or a deed in lieu or in aid thereof. Without limiting any of Tenant's rights against Landlord under the Lease, in the event Lender acquires title to the Leased Premises, Lender shall: A. only be liable for any damage or other relief attributable to any act or omission accruing during Lender's period of ownership of the Leased Premises, regardless of whether such acts or omissions commenced prior to such period of ownership. For example, if the Lease provides that the failure of the Landlord to repair a hole in the roof entitles Tenant to offset rent for the number of days that the roof is not repaired, and if the hole in the roof occurred sixty (60) days prior to Lender's acquisition of title and was not repaired for another thirty (30) days after Lender's acquisition of title, Tenant would only be entitled to offset against its rental obligations owed to Lender thirty (30) days rental and would retain a claim against Landlord for sixty (60) days rental; B. only be responsible for representations, warranties, covenants and indemnities of Landlord to the extent that such representations, warranties, covenants and indemnities apply to the Project and relate to the operation of the Project during Lender's period of ownership of the Leased Premises; C. be liable only for any security deposit actually delivered to Lender; and D. have its obligations and liabilities limited to the then interest, if any, of Lender in the Project, without consideration of any mortgage liens placed on the Project by Lender. Tenant shall look exclusively to such interest of Lender, if any, in the Project for the payment and discharge of any obligations imposed upon Lender hereunder or under the Lease and Tenant hereby releases Lender from any other liability hereunder and under the Lease. Nothing contained in this Section 6 shall be deemed to limit or affect Tenant's claims against Landlord for any breaches of Landlord's obligations under the Lease, or for any breaches of Landlord's representations, warranties, covenants or indemnities under the Lease, or for return of any security deposit under the Lease, and no transfer of the Project to Lender shall release Landlord from any of its Lease obligations, notwithstanding anything to the contrary in the Lease.
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Samples: Office Lease (Websense Inc), Office Lease (Websense Inc)
Lenders’ Obligations. Nothing in this Agreement and no action taken by Lender to enforce any provision in the Lease shall be deemed or construed to constitute an agreement by Lender to perform or assume any covenant of Landlord as landlord under the Lease unless and until Lender obtains title to the Leased Premises by foreclosure of the Security Instrument Deed of Trust or a deed in lieu or in aid thereof. Without limiting any of Tenant's rights against Landlord under the Lease, in the event Lender acquires title to the Leased Premises, Lender shall:
A. only be liable only for any damage damages or other relief attributable to any act or omission accruing during Lender's period of ownership of the Leased Premises, regardless of whether such acts or omissions commenced prior to such period of ownership. For example, if the Lease provides that the failure of the Landlord to repair a hole in the roof entitles the Tenant to offset rent for the number of days that the roof is not repaired, and if the hole in the roof occurred sixty (60) 60 days prior to Lender's acquisition of the title and was not repaired for another thirty (30) 30 days after Lender's acquisition of titlethereafter, Tenant would only be entitled to offset against its rental obligations owed to Lender thirty (30) 30 days rental and would retain a claim against Landlord for sixty (60) 60 days rental;
B. only be responsible for representations, warranties, warranties and covenants and indemnities of Landlord to the extent that such representations, warranties, warranties and covenants and indemnities apply to the Project and relate to the operation of the Project during Lender's period of ownership of the Leased Premises;
C. be liable only for any security deposit actually delivered to Lender; and
D. have its obligations and liabilities limited to the then interest, if any, of Lender in the Project, without consideration of any mortgage liens placed on the Project by Lender. Tenant shall look lock exclusively to such interest of Lender, if any, in the Project (including any insurance proceeds thereof and the proceeds of the sale thereof) for the payment and discharge of any obligations imposed upon Lender hereunder or under the Lease and Tenant hereby releases Lender from any other liability hereunder and under the Lease. Nothing contained in this Section 6 shall be deemed to limit or affect Tenant's claims against Landlord for any breaches of or the Landlord's obligations under the Lease, or for any breaches of Landlord's representations, warranties, warranties and covenants or indemnities under the Lease, or for return of any security deposit under the Lease, and no transfer of the Project to Lender shall release Landlord from any of its Lease obligations, notwithstanding anything to the contrary in the Lease.
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Samples: Lease Agreement (Broadvision Inc)
Lenders’ Obligations. Nothing in this Agreement and no action taken by Lender to enforce any provision in the Lease shall be deemed or construed to constitute an agreement by Lender to perform or assume any covenant of Landlord as landlord under the Lease unless and until Lender obtains title to the Leased Premises by foreclosure of the Security Instrument Deed of Trust or a deed in lieu or in aid thereof. Without limiting any of Tenant's ’s rights against Landlord under the Lease, in the event Lender acquires title to the Leased Premises, Lender shall:
A. only be liable for any damage or other relief attributable to any act or omission accruing during Lender's period of ownership of the Leased Premises, regardless of whether such acts or omissions commenced prior to such period of ownership. For example, if the Lease provides that the failure of the Landlord to repair a hole in the roof entitles the Tenant to offset rent for the number of days that the roof is not repaired, and if the hole in the roof occurred sixty (60) 60 days prior to Lender's acquisition of title and was not repaired for another thirty (30) 30 days after Lender's acquisition of titlethereafter, Tenant would only be entitled to offset against its rental obligations owed to Lender thirty (30) 30 days rental and would retain a claim against Landlord for sixty (60) 60 days rental;
B. only be responsible for representations, warranties, warranties and covenants and indemnities of Landlord to the extent that such representations, warranties, warranties and covenants and indemnities apply to the Project and relate to the operation of the Project during Lender's period of ownership of the Leased Premises;
C. be liable only for any security deposit actually delivered to Lender; and
D. have its obligations and liabilities limited to the then interest, if any, of Lender in the Project, without consideration of any mortgage liens placed on the Project by Lender. Tenant shall look exclusively to such interest of Lender, if any, in the Project for the payment and discharge of any obligations imposed upon Lender hereunder or under the Lease and Tenant hereby releases Lender from any other liability hereunder and under the Lease. Nothing contained in this Section 6 shall be deemed to limit or affect Tenant's claims against Landlord for any breaches of Landlord's obligations under the Lease, or for any breaches of Landlord's representations, warranties, covenants or indemnities under the Lease, or for return of any security deposit under the Lease, and no transfer of the Project to Lender shall release Landlord from any of its Lease obligations, notwithstanding anything to the contrary in the Lease.
Appears in 1 contract
Samples: Lease Agreement (Wilshire Financial Services Group Inc)
Lenders’ Obligations. Nothing in this Agreement and no action taken by Lender to enforce any provision in the Lease shall be deemed or construed to constitute an agreement by Lender to perform or assume any covenant of Landlord as landlord under the Lease unless and until Lender obtains title to the Leased Premises by foreclosure of the Security Instrument Deed of Trust or a deed in lieu or in aid thereof. Without limiting any of Tenant's rights against Landlord under the Lease, in the event Lender acquires title to the Leased Premises, Lender shall:
A. only be liable for any damage or other relief attributable to any act or omission accruing during Lender's period of ownership of the Leased Premises, regardless of whether such acts or omissions commenced prior to such period of ownership. For example, if the Lease provides that the failure of the Landlord to repair a hole in the roof entitles the Tenant to offset rent for the number of days that the roof is not repaired, and if the hole in the roof occurred sixty (60) 60 days prior to Lender's acquisition of title and was not repaired for another thirty (30) 30 days after Lender's acquisition of titlethereafter, Tenant would only be entitled to offset against its rental obligations owed to Lender thirty (30) 30 days rental and would retain a claim against Landlord for sixty (60) 60 days rental;
B. only be responsible for representations, warranties, warranties and covenants and indemnities of Landlord to the extent that such representations, warranties, warranties and covenants and indemnities apply to the Project and relate to the operation of the Project during Lender's period of ownership of the Leased Premises;
C. be liable only for any security deposit actually delivered to Lender; and
D. have its obligations and liabilities limited to the then interest, if any, of Lender in the Project, without consideration of any mortgage liens placed on the Project by Lender. Tenant shall look exclusively to such interest of Lender, if any, in the Project for the payment and discharge of any obligations imposed upon Lender hereunder or under the Lease and Tenant hereby releases Lender from any other liability hereunder and under the Lease. Nothing contained in this Section 6 shall be deemed to limit or affect Tenant's claims against Landlord for any breaches of the Landlord's obligations under the Lease, or for any breaches of Landlord's representations, warranties, warranties and covenants or indemnities under the Lease, or for return of any security deposit under the Lease, and no transfer of the Project to Lender shall release Landlord from any of its Lease obligations, notwithstanding anything to the contrary in the Lease.
Appears in 1 contract
Lenders’ Obligations. Nothing in this Agreement and no action taken by Lender to enforce any provision in the Lease shall be deemed or construed to constitute an agreement by Lender to perform or assume any covenant of Landlord as landlord under the Lease unless and until Lender obtains title to the Leased Premises by foreclosure of the Security Instrument Deed of Trust or a deed in lieu or in aid thereof. Without limiting any of Tenant's rights against Landlord under the Lease, in the event Lender acquires title to the Leased Premises, Lender shall:
A. only be liable only for any damage damages or other relief attributable to any act or omission accruing during Lender's period of ownership of the Leased Premises, regardless of whether such acts act or omissions commenced prior to such period of or ownership. For example, if the Lease provides that the failure of the Landlord to repair a hole in the roof entitles Tenant to offset rent for the number of days that the roof is not repaired, and if the hole in the roof occurred sixty (60) 60 days prior to Lender's acquisition of title and was not repaired for another thirty (30) 30 days after Lender's acquisition of titlethereafter, Tenant would only be entitled to offset against its rental obligations owed to Lender thirty (30) 30 days rental and would retain a claim against Landlord for sixty (60) 60 days rental;
B. only be responsible for representations, warranties, warranties and covenants and indemnities of Landlord to the extent that such representations, warranties, warranties and covenants and indemnities apply to the Project and relate to the operation of the Project during Lender's period of ownership of the Leased Premises;
C. be liable only for any security deposit actually delivered to Lender; and
D. have its obligations and liabilities limited to the then interest, if any, of Lender in the Project, without consideration of any mortgage liens placed on the Project by Lender. Tenant Tenant's shall look exclusively to such interest of Lender, if any, in the Project for (including any insurance proceeds thereof and the proceeds of the sale thereof) the payment and discharge of any obligations imposed upon Lender hereunder or under the Lease and Tenant hereby releases Lender from any other ether liability hereunder and under the Lease. Nothing contained in In this Section 6 shall be deemed to limit or affect Tenant's claims against Landlord for any breaches of the Landlord's obligations under the Lease, or for any breaches of Landlord's representations, warranties, warranties and covenants or indemnities under the Lease, or for return of any security deposit under the Lease, and no transfer of the Project to Lender shall release Landlord from any of its Lease obligations, notwithstanding anything to the contrary in the Lease.
Appears in 1 contract
Samples: Sublease (Realnames Corp)
Lenders’ Obligations. Nothing Relating to L/Cs and TD, BNS and the Additional Swingline Tranches
4.1.1 Notwithstanding that Advances under the TD Tranche, the BNS Tranche and any Additional Swingline Tranche are for the time being made by TD, BNS and any Additional Swingline Lender, respectively, it is the intention of the parties that the ultimate credit risk and exposure of any Lender in respect of the Credits (including any Advances under the TD Tranche, the BNS Tranche and any Additional Swingline Tranche) be in accordance with its Applicable Percentage. Accordingly, on the Obligations becoming due and payable under Section 7.2, each Lender shall do all such things, including purchasing participations in Advances made by TD, BNS and any Additional Swingline Lender, under the TD Tranche, the BNS Tranche and any Additional Swingline Tranche, as shall be required to ensure that result. Any such action on the part of the Lenders shall be binding on the Borrower.
4.1.2 In addition, each Lender shall immediately indemnify the Issuing Bank for that Lender’s Applicable Percentage of any payment made by the Issuing Bank in respect of an L/C (other than those issued under the TD Tranche, the BNS Tranche or any Additional Swingline Tranche, which are subject to the preceding paragraph) for which the Issuing Bank is not immediately reimbursed by the Borrower, and shall do all such things, including purchase of participations in Advances made by the Issuing Bank, as shall be required to ensure that result. Any such action on the part of the Lenders shall be binding on the Borrower.
4.1.3 Each Lender acknowledges and agrees that its obligations under this Section 4.1 are absolute, unconditional and irrevocable and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any L/C, the occurrence and continuance of a Default or the reduction or termination of its Commitment, and that any payment it is required to make pursuant to its obligations shall be made without any offset, abatement, withholding or reduction whatsoever.
4.1.4 If any Lender fails to take the actions required under this Section 4.1, the Agent may, without prejudice to the other rights of the Lenders, make such adjustments to the payments to that Lender under this Agreement and no action taken by Lender as are necessary to enforce any provision in compensate the Lease other Lenders for that Lender’s failure. Any such adjustment shall be deemed or construed to constitute an agreement by consistent with Section 8.11 if that Lender to perform or assume any covenant of Landlord as landlord under the Lease unless and until Lender obtains title to the Leased Premises by foreclosure of the Security Instrument or is a deed in lieu or in aid thereof. Without limiting any of Tenant's rights against Landlord under the Lease, in the event Lender acquires title to the Leased Premises, Lender shall:
A. only be liable for any damage or other relief attributable to any act or omission accruing during Defaulting Lender's period of ownership of the Leased Premises, regardless of whether such acts or omissions commenced prior to such period of ownership. For example, if the Lease provides that the failure of the Landlord to repair a hole in the roof entitles Tenant to offset rent for the number of days that the roof is not repaired, and if the hole in the roof occurred sixty (60) days prior to Lender's acquisition of title and was not repaired for another thirty (30) days after Lender's acquisition of title, Tenant would only be entitled to offset against its rental obligations owed to Lender thirty (30) days rental and would retain a claim against Landlord for sixty (60) days rental;
B. only be responsible for representations, warranties, covenants and indemnities of Landlord to the extent that such representations, warranties, covenants and indemnities apply to the Project and relate to the operation of the Project during Lender's period of ownership of the Leased Premises;
C. be liable only for any security deposit actually delivered to Lender; and
D. have its obligations and liabilities limited to the then interest, if any, of Lender in the Project, without consideration of any mortgage liens placed on the Project by Lender. Tenant shall look exclusively to such interest of Lender, if any, in the Project for the payment and discharge of any obligations imposed upon Lender hereunder or under the Lease and Tenant hereby releases Lender from any other liability hereunder and under the Lease. Nothing contained in this Section 6 shall be deemed to limit or affect Tenant's claims against Landlord for any breaches of Landlord's obligations under the Lease, or for any breaches of Landlord's representations, warranties, covenants or indemnities under the Lease, or for return of any security deposit under the Lease, and no transfer of the Project to Lender shall release Landlord from any of its Lease obligations, notwithstanding anything to the contrary in the Lease.
Appears in 1 contract