Common use of Operating Obligations Clause in Contracts

Operating Obligations. Except as otherwise permitted under this Agreement and the other Loan Documents, the Borrower shall not and shall not permit the Property Owner to enter into, assume or permit to exist, any obligations for the payment of rent for any property (real, personal or mixed, tangible or intangible) under Leases, subleases or similar arrangements as lessee other than operating leases, equipment leases and similar leases entered into in ordinary course of business for assets incidental to the management and operation of the Mortgaged Property.

Operating Obligations. Except for the Ground Sublease or as otherwise expressly permitted under this Agreement and the other Loan DocumentsAgreement, the Borrower shall not and shall not permit the Property Owner to enter into, assume or permit to exist, any obligations for the payment of rent for any property (real, personal or mixed, tangible or intangible) under Leasesleases, subleases or similar arrangements as lessee other than operating leases, equipment leases and similar leases entered into in ordinary course of business for assets incidental to the management and operation of the Mortgaged PropertyProperty which, in each case, would not constitute a Material Agreement.

Operating Obligations. Except as otherwise permitted under this Agreement and the other Loan DocumentsAgreement, the Borrower shall not and shall not permit the Property Owner to enter into, assume or permit to exist, any obligations for the payment of rent for any property (real, personal or mixed, tangible or intangible) under Leasesleases, subleases or similar arrangements as lessee other than operating leases, equipment leases and similar leases entered into in ordinary course of business for assets incidental to the management and operation of the Mortgaged Property.