Common use of Operation of Property Clause in Contracts

Operation of Property. (a) Borrower shall cause each Individual Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If the applicable Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 8 contracts

Samples: Loan Agreement (Global Net Lease, Inc.), Loan Agreement (Healthcare Trust, Inc.), Loan Agreement (Global Net Lease, Inc.)

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Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 7 contracts

Samples: Loan Agreement (TNP Strategic Retail Trust, Inc.), Loan Agreement (TNP Strategic Retail Trust, Inc.), Loan Agreement (Global Income Trust, Inc.)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) , as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 6 contracts

Samples: Loan Agreement (Lightstone Value Plus Real Estate Investment Trust V, Inc.), Loan Agreement (Hudson Pacific Properties, L.P.), Loan Agreement (MPG Office Trust, Inc.)

Operation of Property. (a) Borrower shall cause each Individual Property the Properties to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 5 contracts

Samples: Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (Brixmor Property Group Inc.)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If the applicable Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 3 contracts

Samples: Loan Agreement (Wheeler Real Estate Investment Trust, Inc.), Loan Agreement (City Office REIT, Inc.), Loan Agreement (Carter Validus Mission Critical REIT II, Inc.)

Operation of Property. (a) Borrower shall cause each Individual Property Mortgage Borrower to be operatedoperate the Property, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) , as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly cause Mortgage Borrower to enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (CNL Income Properties Inc), Loan Agreement (Maguire Properties Inc)

Operation of Property. (a) Each Individual Borrower shall cause each its Individual Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of an Individual Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), such Individual Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 2 contracts

Samples: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.)

Operation of Property. (a) Unless approved, consented to or waived in writing by Administrative Agent, Borrower shall cause each Individual Property the Properties to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain LenderAdministrative Agent’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 2 contracts

Samples: Loan Agreement (Excel Trust, L.P.), Loan Agreement (Excel Trust, L.P.)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this AgreementAgreement or any of the other Loan Documents), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 2 contracts

Samples: Loan Agreement (City Office REIT, Inc.), Loan Agreement (Glimcher Realty Trust)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement Agreement, if applicable, in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 2 contracts

Samples: Loan Agreement (FelCor Lodging Trust Inc), Loan Agreement (FelCor Lodging Trust Inc)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If the applicable Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall cause Mortgage Borrower to promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement, Mezzanine Loan Agreement (TNP Strategic Retail Trust, Inc.)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Property Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Property Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Property Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Property Manager or another Qualified Qualifying Property Manager, as applicable.

Appears in 2 contracts

Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)

Operation of Property. (a) Borrower shall use commercially reasonable efforts to cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Hudson Pacific Properties, Inc.)

Operation of Property. (a) Borrower and Manager shall cause each Individual Property the Properties to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicableapplicable and in accordance with all applicable Legal Requirements. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Hilton Worldwide Holdings Inc.)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Property Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Property Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Property Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Qualifying Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Reit I Inc)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Operating Lease and the Management Agreement (or Replacement Management Agreement) , as applicable. If the applicable Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Eagle Hospitality Properties Trust, Inc.)

Operation of Property. (a) Borrower shall cause each Individual Property the Properties to be operated, in all material respects, in accordance with the applicable Property Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Property Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s 's consent to any termination or modification of the Property Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Property Manager or another Qualified Qualifying Property Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Reit I Inc)

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Operation of Property. (a) Borrower shall cause each Individual Property the Properties to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain LenderAdministrative Agent’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Apartment Income REIT, L.P.)

Operation of Property. (a) Borrower shall cause each Individual Property Mortgage Borrower to be operatedoperate the Properties, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly cause Mortgage Borrower to enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Senior Mezzanine Loan Agreement (Brixmor Property Group Inc.)

Operation of Property. (a) Borrower shall use reasonable efforts to cause each Individual Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If the applicable Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Strategic Storage Trust IV, Inc.)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) replacement management agreement), as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicablereplacement management agreement pursuant to Section 5.2.1 hereof.

Appears in 1 contract

Samples: Loan Agreement (Taubman Centers Inc)

Operation of Property. (a) Each Borrower shall cause each Individual its Property to be operated, in all material respects, in accordance with the applicable Management Agreement Agreement, as applicable, (or Replacement Management Agreement) , as applicable). If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s 's consent to any termination or modification of the such Management Agreement in accordance with the terms and provisions of this Agreement), such Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Operation of Property. (a) Borrower shall cause each Individual the Property to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Brixmor Property Group Inc.)

Operation of Property. (a1) Borrower shall cause each Individual the Property to be maintained in good and safe condition and operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Acadia Realty Trust)

Operation of Property. (a) Borrower shall cause each Individual Property Mortgage Borrower to be operatedoperate the Property, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly cause Mortgage Borrower to enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Global Income Trust, Inc.)

Operation of Property. (a) Borrower shall cause each Individual Property the Properties to be operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Sun Communities Inc)

Operation of Property. (a) Borrower shall cause each Individual the Property to be maintained in good and safe condition and operated, in all material respects, in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Acadia Realty Trust)

Operation of Property. (a) Borrower shall cause each Individual Property Manager to be operated, operate the Properties operated by Manager in all material respects, respects in accordance with the applicable Management Agreement (or Replacement Management Agreement) as applicable. If In the applicable event that the Management Agreement expires or is terminated (without limiting any obligation of Borrower to obtain Lender’s consent to any termination or modification of the Management Agreement in accordance with the terms and provisions of this Agreement), Borrower shall promptly enter into a Replacement Management Agreement with Manager or another Qualified Manager, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Gramercy Capital Corp)

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