NO ADDITIONAL PROCEEDINGS; TENANT DEFAULTS. Except for matters as to which Brandywine OP was given written notice by Xxxxxxxx or otherwise had actual knowledge prior to the end of the Study Period, on the Closing Date, there shall be no (a) litigation pending or threatened, seeking (i) to enjoin the consummation of the transactions contemplated hereunder, (ii) to recover title to the Property, or any part thereof or any interest therein, (iii) to increase substantially ad valorem taxes theretofore assessed against any of the Property, (iv) to enjoin the violation of any law, rule, regulation, restrictive covenant or zoning ordinance that may be applicable to the Property, or (v) claiming defaults or other liability of any of the Partnerships under Leases by tenants leasing five percent (5%) or more of the rentable square feet of the Improvements, in the aggregate or (b) monetary default in excess of thirty (30) days for which a written notice of default has been given to a tenant and which constitutes an event of default under, and as defined in, the applicable Lease, or any threatened or reasonably anticipated material default or other material default by tenants leasing five percent (5%) or more of the rentable square feet of the Improvements, in the aggregate.
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (Brandywine Realty Trust), Agreement of Purchase and Sale (Prentiss Properties Trust/Md)
NO ADDITIONAL PROCEEDINGS; TENANT DEFAULTS. Except for matters as to which Brandywine OP Xxxxxxxx was given written notice by Xxxxxxxx Brandywine OP or otherwise had actual knowledge prior to the end of the Study Period, on the Closing Date, there shall be no (a) litigation pending or threatened, seeking (i) to enjoin the consummation of the transactions contemplated hereunder, (ii) to recover title to the Property, or any part thereof or any interest therein, (iii) to increase substantially ad valorem taxes theretofore assessed against any of the Property, (iv) to enjoin the violation of any law, rule, regulation, restrictive covenant or zoning ordinance that may be applicable to the Property, or (v) claiming defaults or other liability of any of the Partnerships lessor under Leases by tenants leasing five percent (5%) or more of the rentable square feet of the Improvements, in the aggregate or (b) monetary default in excess of thirty (30) days for which a written notice of default has been given to a tenant and which constitutes an event of default under, and as defined in, the applicable Lease, other material default or any threatened or reasonably anticipated material default or other material default by tenants leasing five percent (5%) or more of the rentable square feet of the Improvements, in the aggregate.
Appears in 1 contract
Samples: Contribution Agreement (Prentiss Properties Trust/Md)
NO ADDITIONAL PROCEEDINGS; TENANT DEFAULTS. Except for matters as to which Brandywine OP the Operating Partnership was given written notice by Xxxxxxxx or otherwise had actual knowledge the Contributors prior to the end of the Study Perioddate hereof, on the Closing Date, there shall be no (a) litigation pending or threatened, seeking threatened in writing (i) seeking to enjoin the consummation of the transactions contemplated hereunderby this Agreement, (ii) seeking to recover title to the any Property, or any part thereof or any interest therein, (iii) to increase substantially ad valorem taxes theretofore assessed against any of the Property, (iv) seeking to enjoin the violation of any law, rule, regulation, restrictive covenant or zoning ordinance that may be Law applicable to the any Property, or (viv) claiming defaults or other liability of any of the Partnerships Contributors, TRCLP and/or TRCLP's Subsidiaries under Leases by tenants leasing five ten percent (510%) or more of the rentable square feet of the ImprovementsProperties, in the aggregate or (b) monetary default delinquencies or defaults in excess of thirty forty-five (3045) days for which a written notice of default has been given to a tenant and which constitutes an event of default under, and as defined in, the applicable Lease, or any threatened or reasonably anticipated material default or other material default under Leases by tenants leasing five ten percent (510%) or more of the rentable square feet of the ImprovementsProperties, in the aggregate or (c) bankruptcy filings or similar petitions for relief by tenants leasing ten percent (10%) or more of the rentable square feet of the Properties, in the aggregate.
Appears in 1 contract
NO ADDITIONAL PROCEEDINGS; TENANT DEFAULTS. Except for matters as to which Brandywine OP was given written notice by Xxxxxxxx or otherwise had actual knowledge prior to the end of the Study Period, on the Closing Date, there shall be no (a) litigation pending or threatened, seeking (i) to enjoin the consummation of the transactions contemplated hereunder, (ii) to recover title to the Property, or any part thereof or any interest therein, (iii) to increase substantially ad valorem taxes theretofore assessed against any of the Property, (iv) to enjoin the violation of any law, rule, regulation, restrictive covenant or zoning ordinance that may be applicable to the Property, or (v) claiming defaults or other liability of any of the Partnerships Xxxxxxxx under Leases by tenants leasing five percent (5%) or more of the rentable square feet of the Improvements, in the aggregate or (b) monetary default in excess of thirty (30) days for which a written notice of default has been given to a tenant and which constitutes an event of default under, and as defined in, the applicable Lease, other material default or any threatened or reasonably anticipated material default or other material default by tenants leasing five percent (5%) or more of the rentable square feet of the Improvements, in the aggregate.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Prentiss Properties Trust/Md)