Management and Leasing Agreements; Subordination. Borrower shall not amend, extend, substitute or enter into any new management or property leasing agreement covering all or any portion of the Project without Lender’s prior written consent. In the event that Lender grants such, consent, Borrower shall cause the manager or leasing broker under said agreement to enter into aft agreement with Lender, acceptable in form and substance to Lender, pursuant to which said manager or broker subordinates its liens for unpaid fees to the liens of the Mortgage and the other Loan Documents.
Appears in 2 contracts
Samples: Construction Loan Agreement (Campus Crest Communities, Inc.), Construction Loan Agreement (Campus Crest Communities, Inc.)
Management and Leasing Agreements; Subordination. Borrower shall not amend, extend, substitute or enter into any new management or property leasing agreement covering all or any portion of the Project without Lender’s prior written consent. In the event that Lender grants such, consent, Borrower shall cause the manager or leasing broker under said agreement to enter into aft agreement with Lender, acceptable in form and substance to Lender, pursuant to which said manager or broker subordinates its liens for unpaid fees to the liens of the Mortgage and the other Loan Documents.. 7.19
Appears in 1 contract
Samples: Construction Loan Agreement
Management and Leasing Agreements; Subordination. Borrower shall not amend, extend, substitute or enter into any new management or property leasing agreement covering all or any portion of the Project without Lender’s 's prior written consent. In the event that Lender grants such, such consent, Borrower shall cause the manager or leasing broker under said agreement to enter into aft an agreement with Lender, acceptable in form and substance to Lender, pursuant to which said manager or broker subordinates its liens for unpaid fees to the liens of the Mortgage and the other Loan Documents.
Appears in 1 contract
Samples: Construction Loan Agreement (Heartland Partners L P)
Management and Leasing Agreements; Subordination. Borrower shall not amend, extend, substitute or enter into any new management or property leasing agreement covering all or any portion of the Project Property without Lender’s 's prior written consent. In the event that Lender grants such, such consent, Borrower shall cause the tenant, property manager or leasing broker under said agreement to enter into aft an agreement with Lender, acceptable in form and substance to Lender, pursuant to which said tenant, property manager or broker subordinates its liens for unpaid fees to the liens of the Mortgage and the other Loan Documents.
Appears in 1 contract
Samples: Construction Loan Agreement (Heartland Partners L P)
Management and Leasing Agreements; Subordination. Borrower Borrowers ------------------------------------------------ shall not amend, extend, substitute or enter into any new management or property leasing agreement covering all or any portion of the Project Property without Lender’s 's prior written consent. In the event that Lender grants such, such consent, Borrower Borrowers shall cause the manager or leasing broker under said agreement to enter into aft an agreement with Lender, acceptable in form and substance to Lender, pursuant to which said manager or broker subordinates its liens for unpaid fees to the liens of the Mortgage and the other Loan Documents.
Appears in 1 contract
Samples: Loan Agreement (Sundance Homes Inc)