Common use of Performance Under Leases Clause in Contracts

Performance Under Leases. Mortgagor covenants that it shall, at its sole cost and expense, (a) duly and punctually perform and discharge, or cause to be performed and discharged, all of the obligations and undertakings of Mortgagor or its agents under the Leases, (b) use its best efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every obligation and undertaking of the respective tenants under the Leases, (c) promptly notify Mortgagee if Mortgagor receives any notice from a tenant claiming that Mortgagor is in default under a Lease and (d) appear in and defend any action or proceeding arising under or in any manner connected with the Leases.

Appears in 4 contracts

Samples: Mortgage Modification Agreement (Thackeray Corp), Construction Loan Agreement (Plasma Therm Inc), Loan Agreement (Transeastern Properties Inc)

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