Common use of Notices of Default Under Leases Clause in Contracts

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives notice from a tenant under a Lease of a Borrowing Base Asset of a default by the landlord under such Lease, or (ii) delivers a notice to any Major Tenant under a Lease of a Borrowing Base Asset of a default by such tenant under its Lease.

Appears in 3 contracts

Samples: Credit Agreement (MedEquities Realty Trust, Inc.), Credit Agreement (MedEquities Realty Trust, Inc.), Credit Agreement (MedEquities Realty Trust, Inc.)

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Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five ten (510) Business Days after the Borrower or any Guarantor (i) receives notice written notices from a tenant tenants under a Lease of Leases at a Borrowing Base Asset representing 15% or more aggregate units at such properties at any one time of a default by the landlord under such Lease, or (ii) delivers a notice to any Major Tenant under a Lease of a Borrowing Base Asset of a default by such tenant under its Lease.

Appears in 3 contracts

Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives notice from a tenant under a Lease lease of a Borrowing Base Asset Subject Property of a default by the landlord under such Lease, lease which default would provide the tenant with an ability to terminate the lease or the right to an abatement of rent thereunder or (ii) delivers a notice to any Major Tenant tenant under a Lease lease of a Borrowing Base Asset Subject Property of a payment or other material default by such tenant under its Leaselease.

Appears in 2 contracts

Samples: Credit Agreement (Gladstone Commercial Corp), Credit Agreement (Gladstone Commercial Corp)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower Borrower, any Guarantor or any Guarantor Unencumbered Property Subsidiary (i) receives notice from a tenant under a Lease lease of a Borrowing Base Asset Subject Property of a default by the landlord under such Lease, lease which default would provide the tenant with an ability to terminate the lease or the right to an abatement of rent thereunder or (ii) delivers a notice to any Major Tenant tenant under a Lease lease of a Borrowing Base Asset Subject Property of a payment or other material default by such tenant under its Leaselease.

Appears in 2 contracts

Samples: Credit Agreement (Gladstone Commercial Corp), Credit Agreement (Gladstone Commercial Corp)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives notice from a tenant under a Major Lease of a Borrowing Base Asset of a default by the landlord under such Major Lease, or (ii) delivers a notice to any Major Tenant tenant under a Major Lease of a Borrowing Base Asset of a default by such tenant under its a Major Lease.

Appears in 1 contract

Samples: Credit Agreement (NorthStar Healthcare Income, Inc.)

Notices of Default Under Leases. The Borrower Borrowers will give notice to the Administrative Agent in writing within five (5) Business Days after the Borrower any Loan Party or any Guarantor Subsidiary thereof (i) receives written notice from a tenant under a Lease of a Borrowing Base Asset Collateral Property of a default by the landlord under such Lease, or (ii) delivers a written notice to any Major Tenant tenant under a Lease of a Borrowing Base Asset Collateral Property of a default by such tenant under its Lease.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives written notice from a tenant Tenant under a Lease of a Borrowing Base Asset Property of a default by the landlord under such Lease, or (ii) delivers a written notice to any Major Tenant under a Lease of a Borrowing Base Asset Property of a payment or other default by such tenant Tenant under its Lease.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives written notice from a tenant Major Tenant under a Lease of a Borrowing Base Asset Property of a default by the landlord under such Lease, or (ii) delivers a written notice to any Major Tenant under a Lease of a Borrowing Base Asset Property of a payment or other default by such tenant Major Tenant under its Lease.

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

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Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five ten (510) Business Days after the Borrower or any Guarantor (i) receives written notice from a tenant under a Lease of a Borrowing Base Asset of a default by the landlord under such Lease, or (ii) delivers a written notice to any Major Tenant tenant under a Lease of a Borrowing Base Asset of a default by such tenant under its Lease.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust Inc)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five ten (510) Business Days after the Borrower or any Guarantor (i) receives written notice from a tenant under a Lease of a Borrowing Base Asset of a material default by the landlord under such Lease, or (ii) delivers a written notice to any Major Tenant tenant under a Lease of a Borrowing Base Asset of a payment or other material default by such tenant under its Lease.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust II, Inc.)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives written notice from a tenant Tenant under a Lease of a an Unencumbered Borrowing Base Asset Property of a default by the landlord under such Lease, or (ii) delivers a written notice to any Major Tenant under a Lease of a an Unencumbered Borrowing Base Asset Property of a payment or other default by such tenant Tenant under its Lease.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower Borrower, any Guarantor or any Guarantor Unencumbered Property Subsidiary (i) receives notice from a tenant under a Lease lease of a Borrowing Base Asset Subject Property of a default by the landlord under such Lease, lease which default would provide the tenant with an ability to terminate the lease or the right to an abatement of rent thereunder or (ii) delivers a notice to any Major Tenant tenant under a Lease lease of a Borrowing Base Asset Subject Property of a payment or other material default by such tenant under its Lease.lease. (g)

Appears in 1 contract

Samples: Credit Agreement (Gladstone Commercial Corp)

Notices of Default Under Leases. The Borrower will give notice to the Agent in writing within five (5) Business Days after the Borrower or any Guarantor (i) receives notice from a tenant under a Lease lease of a Borrowing Base Asset Subject Property or a property subject to an Eligible Note Receivable of a default by the landlord under such Leaselease or from a landlord of a default by a tenant under a lease of a property subject to an Eligible Note Receivable, or (ii) delivers a notice to any Major Tenant tenant under a Lease lease of a Borrowing Base Asset Subject Property of a default by such tenant under its Leaselease.

Appears in 1 contract

Samples: Secured Revolving Credit Agreement (Gladstone Commercial Corp)

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