PERFORMANCE OF AGREEMENTS AND LEASES. Each Primary Borrower Party shall duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, (ii) under all Material Agreements and Leases and (iii) all other agreements entered into or assumed by such Person in connection with the Properties, and will not suffer or permit any material default or event of default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing except where the failure to perform, observe or comply with any agreement referred to in this clause (iii) would not reasonably be expected to have a material adverse effect on the operation or value of any Property.
PERFORMANCE OF AGREEMENTS AND LEASES. Each Borrower Party shall duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, (ii) under all Material Agreements and Leases and (iii) all other agreements entered into or assumed by such Person in connection with the Sites, and will not suffer or permit any material default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing except where the failure to perform, observe or comply with any agreement referred to in this clause (iii) would not reasonably be expected to have a Material Adverse Effect. Notwithstanding the foregoing to the contrary, the Borrowers shall be permitted to terminate or assign any Site Management Agreement (x) which the Borrowers reasonably deem to be in accordance with prudent business practices (including, but not limited to, instances in which the applicable Site has, and the Borrowers reasonably anticipate that such Site will continue to have, negative Annualized Run Rate Net Cash Flow), (y) to cure a breach of a representation, warranty, covenant or other default or (z) in connection with any Site disposition if the Release or Substitution Conditions are met (except that assignments of a Site Management Agreement to another Borrower need not satisfy the Release or Substitution Conditions). In each of the foregoing, at any time if the Termination and Assignment Threshold is exceeded, any subsequent termination or assignment of a Site Management Agreement (except with respect to assignments to another Borrower) shall require (i) satisfaction of the Release or Substitution Conditions and (ii) written notice to the Rating Agencies of such Site Management Agreement termination or assignment, as well as any subsequent Site Management Agreement terminations or assignments (except with respect to assignments to another Borrower) that, collectively, constitute a successive 5% increase in the total Allocated Loan Amount for all Sites affected by the proposed termination or assignment. In connection with any sale permitted pursuant to the terms of this Section 5.9, the Borrowers may sell any Other Company Collateral associated with the applicable Site and no longer required in connection with the operation of the Borrowers’ business.
PERFORMANCE OF AGREEMENTS AND LEASES. Each Borrower Party shall duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, and (ii) agreements entered into or assumed by such Person in connection with any of the Properties, and will not suffer or permit any default or event of default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing. Each Borrower shall comply with, observe and perform all of its respective material obligations as landlord under the Leases to which it is a party or by which it is bound, and shall enforce the material terms, covenants and conditions contained in the Leases upon the part of the tenants thereunder to be observed or performed.
PERFORMANCE OF AGREEMENTS AND LEASES. The Borrower shall, and shall cause the Mortgage Borrowers to, duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its or their part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, (ii) under all Material Agreements and Leases and (iii) all other agreements entered into or assumed by such Person in connection with the Properties, and will not suffer or permit any material default or event of default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing except where the failure to perform, observe or comply with any agreement referred to in this clause (iii) would not reasonably be expected to have a material adverse effect on the operation or value of any Property.
PERFORMANCE OF AGREEMENTS AND LEASES. The parties hereto agree that clause (iii) of the proviso in Section 5.9 of the Loan Agreement is hereby amended and revised such that the words “since April 16, 2010” shall be inserted immediately following the first instance of the word “occurred” in clause (iii) of the proviso of such Section.
PERFORMANCE OF AGREEMENTS AND LEASES. The words “April 16, 2010” in clause (iii) of the proviso to the second sentence of Section 5.9 of the Loan Agreement shall be deleted in their entirety and replaced with: “the date of the Mortgage Loan Increase relating to the then-outstanding Component that has been outstanding for the longest period of time”.
PERFORMANCE OF AGREEMENTS AND LEASES. Each Primary Borrower Party shall duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, (ii) under all Material Agreements and Leases and (iii) all other agreements entered into or assumed by such Person in connection with the Properties, and will not suffer or permit any material default or event of default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing except where the failure to perform, observe or comply with any agreement referred to in this clause (iii) would not reasonably be expected to have a material adverse effect on the operation or value of any Property.............................................. 61 SECTION 5.12 LEASES. (A) Without the prior written consent of Lender, which shall not be unreasonably withheld or delayed, the Borrowers shall not, nor shall the Borrowers authorize Manager or any other Person to, (i) enter into any Material Lease; (ii) cancel or terminate any Material Lease (except to enforce any such Lease after a default thereunder); (iii) amend or modify any Material Lease (except for minor modifications and amendments entered into in the ordinary course of business, consistent with prudent property management practices, not materially and adversely affecting the economic terms of the Material Lease); (iv) approve any assignment,
PERFORMANCE OF AGREEMENTS AND LEASES. Borrower shall duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, and (ii) agreements entered into or assumed by such Person in connection with the Property, and will not suffer or permit any default or event of default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing. Borrower shall comply with, observe and perform all of Borrower’s material obligations as landlord under the Leases and shall enforce the material 51 terms, covenants and conditions contained in the Leases upon the part of the tenants thereunder to be observed or performed.
PERFORMANCE OF AGREEMENTS AND LEASES. Each Borrower Party shall duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with hereunder and under the other Loan Documents to which it is a party and all material agreements entered into or assumed by such Person in connection with any Property, and will not suffer or permit any default or event of default (giving effect to any applicable notice requirements and cure periods) to exist under any of the foregoing. Each Borrower shall comply with, observe and perform all of such Borrower's material obligations as landlord under all Leases and shall enforce the material terms, covenants and conditions contained in the Leases upon the part of the tenants thereunder to be observed or performed.
PERFORMANCE OF AGREEMENTS AND LEASES. Each Borrower Party shall ------------------------------------ duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with (i) hereunder and under the other Loan Documents to which it is a party, (ii) under the Master Lease and (iii) any other agreements entered into or assumed by such Person in connection with any Property, and will not suffer or permit any default or event of default (giving effect to any applicable notice requirements and cure periods) by it to exist under any of the foregoing, except to the extent that the failure to so perform, observe or comply with any agreements under clause (iii) would not reasonably be expected to have a Property Adverse Effect. Borrower shall enforce the material terms, covenants and conditions contained in the Master Lease upon the part of Lessee to be observed or performed and use reasonable efforts to exercise any rights of Borrower to cure any defaults of Lessee under the Master Lease if and to the extent permitted thereunder.
