No Default Under Leases. Borrower shall (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Borrower under the Leases, if the failure to perform or observe the same would have a Material Adverse Effect; (ii) exercise, within ten (10) Business Days after a written request by Lender, any right to request from the Tenant under any Lease a certificate with respect to the status thereof and (iii) not collect any of the Rents, more than one (1) month in advance (except that Borrower may collect such security deposits and last month’s Rents as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).
No Default Under Leases. Mezzanine Borrower shall cause Mortgage Borrower to (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Mortgage Borrower under the Leases and the REAs, if the failure to perform or observe the same would have a Material Adverse Effect; (ii) exercise, within ten (10) Business Days after a written request by Mezzanine Lender, any right to request from the Tenant under any Lease, or the party to any REAs, a certificate with respect to the status thereof and (iii) not collect any of the Rents, more than one (1) month in advance (except that Mortgage Borrower may collect such security deposits and last month's Rents as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).
No Default Under Leases. Except as disclosed in the Registration Statement, the General Disclosure Package or the Prospectus, the Company, the Operating Partnership or one of their respective subsidiaries holds the lessor’s interest under the leases with any tenants occupying each Property (collectively, the “Leases”); except as would not, individually or in the aggregate, have a Material Adverse Effect, (i) neither the Company, the Operating Partnership nor any of their respective subsidiaries, nor, to the knowledge of either the Company or the Operating Partnership, any other party to any Lease, is in breach or default of any such Lease; and (ii) to the knowledge of the Company and the Operating Partnership, no event has occurred or has been threatened in writing, that, with or without the passage of time or the giving of notice, or both, would, individually or in the aggregate, constitute an event of default under any Lease or would permit the termination, modification or acceleration under such Lease.
No Default Under Leases. Borrower shall (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Borrower under the Leases and the REAs, if the failure to perform or observe the same would have a Material Adverse Effect; (ii) exercise, within ten (10) Business Days after a written request by Lender, any right to request from the Tenant under any Lease, or the party to any REAs, a certificate with respect to the status thereof and (iii) not collect any of the Rents, more than one (1) month in advance (except that Borrower may collect such security deposits and last month's Rents as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).
No Default Under Leases. Borrower shall (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Borrower under the Leases and the REAs, if the failure to perform or observe the same would have a Material Adverse Effect; (ii) exercise, within ten (10) Business Days after a written request by Lender, any right to request from the Tenant under any Lease, or the party to any REAs a certificate with respect to the status thereof (which shall not be made more than three (3) times in any calendar year) and (iii) not collect any of the Rents, more than one (1) month in advance (except that Borrower may collect Security Deposits and up to one (1) month's Rent (whether the first month, the last month or otherwise) as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).
No Default Under Leases. Each lease referred to in Schedule 3.1(a) is in full force and effect and no default exists on the part of JMS in the performance of its obligations under such leases, and JMS has not received any notice from the lessor under any such lease of the existence of any default on the part of JMS which has not been heretofore performed or cured by JMS. JMS has not made any prior assignment, whether for security purposes or otherwise, of the interest of JMS in, to or under any such lease. Payments under each of such leases has been paid to at least the Closing Date except to the extent, if any, reflected in Schedule 3.1(a). To the best of the knowledge of JMS there are no unperformed obligations on the part of the lessor under any lease with respect to the premises leased pursuant to such lease.
No Default Under Leases. Each of the Leases and Undeveloped Leases is valid and subsisting, in full force and effect and binding in accordance with its terms. Except as set forth on Schedule 8.5, neither Xxxxx nor any of its Affiliates is, to the knowledge of Xxxxx, in material default or breach of any such Lease and Undeveloped Leases,, no written claim of default or breach against Xxxxx or an Affiliate has been issued and is pending and no event which, with the giving of notice or lapse in time, or both, would constitute a default or breach thereunder by Xxxxx or its Affiliates has, to the knowledge of Xxxxx, occurred and is continuing; and, to the knowledge of Xxxxx, no other party to such Lease or Undeveloped Lease is in default or breach thereunder, and, to the knowledge of Xxxxx, no event has occurred which with notice or the lapse of time would constitute a default by such other party under such Lease or Undeveloped Lease. Except as set forth in Schedule 8.5, Xxxxx has no knowledge of any dispute with any landlord under any of the Leases or Undeveloped Leases with respect to any term, provision or condition of any thereof. The recording information with respect to each of the Leases or Undeveloped Leases (or memoranda thereof) set forth in Schedule 8.3(a) hereto is true, complete and correct.
No Default Under Leases. Each of the Star Undeveloped Leases is valid and subsisting, in full force and effect and binding in accordance with its terms. Except as set forth on Schedule 9.4, neither Star nor any of its Affiliates is in material default or breach of any such Star Undeveloped Leases, no written claim of default or breach against Star or an Affiliate has been issued and is pending and no event which, with the giving of notice or lapse in time, or both, would constitute a default or breach thereunder by Star or its Affiliates has, to the knowledge of Star, occurred and is continuing; and, to the knowledge of Star, no other party to such Star Undeveloped Lease is in default or breach thereunder, and, to the knowledge of Star, no event has occurred which with notice or the lapse of time would constitute a default by such other party under such Star Undeveloped Lease. Star has no knowledge of any dispute with any landlord under any of the Star Undeveloped Leases with respect to any term, provision or condition of any thereof. The recording information with respect to each of the Star Undeveloped Leases (or memoranda thereof) set forth in Schedule 9.3(a) hereto is true, complete and correct.
No Default Under Leases. Mezzanine Borrower shall cause Mortgage Borrower to (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Mortgage Borrower under the Leases, if the failure to perform or observe the same would have a Material Adverse Effect; (ii) exercise, within ten (10) Business Days after a written request by Mezzanine Lender, any right to request from the Tenant under any Lease, a certificate with respect to the status thereof and (iii) not collect any of the Rents, more than one (1) month in advance (except that Mortgage Borrower may collect such security deposits and last month’s Rents as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).
No Default Under Leases. Grantor shall (i) promptly perform and ----------------------- observe all of the material terms, covenants and conditions required to be performed and observed by Grantor under the Leases and the Operating Agreements, if the failure to perform or observe the same would materially and adversely affect the value of any Property; (ii) exercise, within fifteen (15) Business Days after a written request by Beneficiary, any right to request from the Tenant under any Lease or the party to any Operating Agreement a certificate with respect to the status thereof; and (iii) not collect any of the Rents under the Leases more than one (1) month in advance (except that Grantor may collect such security deposits as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).
