Occupational Leases. (a) The Borrower shall procure that no Propco (other than an Excluded Propco) shall without the consent of the Majority Lenders:
(i) enter into any Agreement for Lease;
(ii) other than under an Agreement for Lease, grant or agree to grant any new Occupational Lease;
(iii) agree to any amendment, supplement, extension, waiver, surrender or release in respect of any Lease Document;
(iv) exercise any right to break, determine or extend any Lease Document;
(v) commence any forfeiture or irritancy proceedings in respect of any Lease Document;
(vi) grant any licence or right to use or occupy any part of a Property;
(vii) consent to any sublease or assignment of any tenant’s interest under any Lease Document;
(viii) agree to any change of use under, or (except where required to do so under the terms of the relevant Lease Document) rent review in respect of, any Lease Document; or
(ix) serve any notice on any former tenant under any Lease Document (or on any guarantor of that former tenant) which would entitle it to a new lease or tenancy.
(b) The Borrower shall procure that each Propco (other than an Excluded Propco) shall:
(i) diligently collect or procure to be collected all Rental Income;
(ii) exercise its rights and comply with its obligations under each Lease Document; and
(iii) use its reasonable endeavours to ensure that each tenant complies with its obligations under each Lease Document, in a proper and timely manner.
(c) Any Lease Prepayment Proceeds must be paid into the Deposit Account for application in accordance with Clause 16.4 (Deposit Account).
(d) The Borrower must supply to the Agent each Lease Document, each amendment, supplement or extension to a Lease Document and each document recording any rent review in respect of a Lease Document promptly upon the relevant Propco (other than an Excluded Propco) entering into the same.
(e) The Borrower shall ensure that the relevant Propco (other than an Excluded Propco) must use its reasonable endeavours to find tenants for any vacant lettable space in the Properties with a view to granting a Lease Document with respect to that space.
(f) The Borrower shall ensure that no Propco (other than an Excluded Propco) which owns a Property in England and Wales grants or agrees to grant any Lease Document without including in the alienation covenant a provision for the proposed assignor on any assignment to guarantee the obligations of the proposed assignee until that assignee is released as tenant under the term...
Occupational Leases. The Borrower must not, without the prior consent of the Lenders (such consent not to be unreasonably withheld or delayed):
(a) enter into any Agreement for Lease or grant or agree to grant any new Occupational Lease unless the same relates to a part of the Property which is a Permitted Letting:
(b) agree to any amendment, waiver or surrender in respect of any Lease Document or exercise any break option under an Occupational Lease;
(c) consent to any sub-lease or assignment of any tenant's interest under any Lease Document unless the assignor remains bound by the terms of the Occupational Lease for the remainder of the term of that Occupational Lease; or
(d) agree to any downward rent review in respect of any Lease Document.
Occupational Leases. Subject to the terms of the Occupational Leases, during normal business hours and upon reasonable notice permit the Agent and/or the Agent's authorised representatives and advisers to have access to the Property and all buildings thereon for the purpose of inspecting the Property.
Occupational Leases. All leases and tenancies and all agreements for leases and tenancies granted by the Company (or any predecessor) in respect of the Properties are correctly summarised in the particulars set out in part 2 of schedule 9.
Occupational Leases. (1) The Purchaser has been provided with complete copies of each lease, tenancy, licence and agreement for occupation and use to which any Material Property is subject ("Relevant Letting").
(2) So far as the Sellers are aware, the relevant Company has not given or received under any Relevant Letting of any Material Property any notice which is not being dealt with by or on behalf of the Company in the usual course of business and which if not so dealt with would have an adverse effect.
Occupational Leases. (a) In this Clause:
Occupational Leases. (a) The Company must duly and diligently implement the material terms and provisions of each Occupational Lease including, if instructed to do so by the Facility Agent, to petition the Court for leave to forfeit the relevant Occupation Lease in the event of the Principal Tenant going into administration,
(b) The Facility Agent will not give an instruction pursuant to subparagraph (a) above unless the Principal Tenant has failed to pay any rent due under an Occupational Lease (including as a consequence of the exercise of any right of set off).
Occupational Leases. (a) The Borrower must not:
(i) enter into any Agreement for Lease;
(ii) grant or agree to grant any new Lease;
(iii) agree to any amendment, supplement, extension, waiver, surrender or release in respect of any Lease Document; or
(iv) consent to any sublease or assignment of any tenant’s interest under any Lease Document, without the prior written consent of the Lender (such consent not to be unreasonably withheld or delayed).
(b) The Borrower must supply to the Lender each Lease Document, each amendment, supplement or extension to a Lease Document and each document recording any rent review in respect of a Lease Document promptly upon entering into the same.
Occupational Leases.
2.7.1 The Agency confirms to the Developer that the Occupational Leases are the only occupational interests which affect the Property.
2.7.2 The Agency will within 2 weeks of the date that possession of Phase 1 and Phase 2 has been obtained under Clause 2.3.1 (at its own cost) make an application to the Land Registry to remove all entries relating to the relevant Occupational Leases from the registers of title.
2.7.3 The Agency will within 2 weeks of the date that possession of Phase 5 has been obtained under Clause 2.3.2 (at its own cost) make an application to the Land Registry to remove all entries relating to the relevant Occupational Leases from the registers of title.
2.7.4 If any of the applications referred to in Clauses 2.7.2 and 2.7.3 above are unsuccessful the Agency will at its own costs as soon as practical take all necessary steps (including (where possible) bringing court proceedings where required) to procure the removal of the title entries.
Occupational Leases. 6.3.1 The occupational lease agreements are all in full force and effect and the Company and the Subsidiaries have complied with the obligations under the agreements in all material respects.
6.3.2 Neither the Company nor the Subsidiaries has made any renovation or alteration of any real estate which is the subject of an occupational lease, other than on the basis of and in accordance with the prior permission or consent of the relevant landlords and/or – to the extent applicable – the relevant governmental or quasi-governmental entities.
6.3.3 Neither the Company nor the Subsidiaries is a party to any occupational lease which cannot be terminated and upon termination by any of them in accordance with its terms, neither the Company nor the Subsidiaries incur any termination penalty.
6.3.4 The development and use of the premises used by the Company and the Subsidiaries are in conformity with the appropriate statutory and municipal zoning laws, building permits and other regulations and orders and in accordance with the exemptions therefrom.
6.3.5 In connection with the Properties no subsidies or other types of financial aid have been granted or applied for in respect of which any of the Company or the Subsidiaries are required to fulfil any conditions or are otherwise subject to any other obligations or restrictions.
