Representations and Warranties on Leases. Except for matters set forth in Schedule 5.1(a) attached hereto and made a part hereof, Borrower represents and warrants to Lender, with respect to Leases, that: (a) the rent roll attached hereto as Schedule 5.1(b) is true, correct and complete, and the leases are valid and in full force and effect; (b) the Leases (including amendments) are in writing, and there are no oral agreements with respect thereto; (c) the copies of the Leases delivered to Lender are true, correct and complete; (d) neither the landlord nor, to Borrower’s knowledge, any tenant is in default under any of the Leases; (e) Borrower has no knowledge of any notice of termination or default with respect to any Lease; (f) Borrower has not assigned or pledged any of the Leases, the rents or any interests therein except to Lender; (g) except as set forth in the rent roll attached as Schedule 5.1(b), no tenant or other party has any right or option to purchase all or any portion of the Project; (h) no tenant has the right to terminate its Lease prior to expiration of the stated term of such Lease; and (i) no tenant has prepaid more than one (1) month’s rent in advance (except for bona fide security deposits).
Representations and Warranties on Leases. Borrower represents and warrants to Lender with respect to leases of each Project that: (a) the rent roll delivered to Lender is true and correct, and the leases are valid and in and full force and effect; (b) the leases (including amendments) are in writing, and there are no oral agreements with respect thereto; (c) the copies of the leases (if any) delivered to Lender are true and complete; (d) the landlord is not in default under any of the leases, and not more than (i) five percent (5%) of the tenants at any one Project, and (ii) three percent (3%) of all tenants at all Projects are more than 30 days delinquent in payment of rent or are otherwise in default in a manner entitling the landlord to terminate their leases; (e) Borrower has not assigned or pledged any of the leases, the rents or any interests therein except to Lender; (f) no tenant or other party has an option to purchase all or any portion of any Project; (g) no tenant has the right to terminate its lease prior to expiration of the stated term of such lease; (h) not more than five percent (5%) of the tenants at any Project have prepaid more than one month’s rent in advance (except for bona fide security deposits not in excess of an amount equal to two months’ rent), and no tenants have prepaid more than twelve (12) months’ rent in advance; and (i) all existing leases are subordinate to the Mortgages either pursuant to their terms or a recorded subordination agreement.
Representations and Warranties on Leases. Borrower represents and warrants to Administrative Agent and the Lenders with respect to leases of the Project that: (1) to Borrower's knowledge, the rent roll delivered to Administrative Agent is true and correct to the extent of its terms, and the leases are valid and in and full force and effect; (2) the leases (including amendments) are in writing, and there are no oral agreements with respect thereto; (3) the copies of the leases delivered to Administrative Agent are true and complete;
Representations and Warranties on Leases. Borrowers represent and warrant to Agent with respect to Leases of the Projects that: (a) the rent roll separately delivered to Agent at or prior to Closing is true and correct as of the date hereof, and the Leases are valid and in and full force and effect; (b) the Leases (including amendments) are in writing, and there are no oral agreements with respect thereto; (c) the copies of the Master Leases delivered to Agent are true and complete; (d) no Borrower has any knowledge of any notice of termination or default with respect to any Master Lease or any other non-residential Lease; (e) no Borrower has assigned or pledged any of the Leases, the rents or any interests therein, except to Agent; (f) no tenant or other party has an option to purchase all or any portion of the Projects; (g) no Master Tenant has the right to terminate its Lease prior to expiration of the stated term of such Master Lease (unless due to casualty or condemnation of the Project); and (i) no tenant has prepaid more than one month's rent in advance (except for bona fide security deposits not in excess of an amount equal to two month's rent).
Representations and Warranties on Leases. From and after the date that an Individual Property is encumbered by a Mortgage, Borrower represents and warrants to Administrative Agent and the Lenders with respect to Leases of the applicable Individual Property as follows:
(1) No Individual Property is subject to any Leases other than the Leases described in the true and correct copy of the rent roll attached hereto as Schedule 6.1 (the “Rent Roll”) and made a part hereof (other than tenants’ subleases, if any, and Seasonal Leases).
(2) No Person has any possessory interest in any Individual Property or right to occupy the same, except under and pursuant to the provisions of the Leases, the Permitted Encumbrances or the provisions of the Reciprocal Easement Agreement.
(3) The Leases described on the Rent Roll are in full force and effect and, except as disclosed in such Rent Roll or in an estoppel delivered to Administrative Agent in connection with the closing of the Loans, to Borrower’s knowledge, there are no material defaults thereunder by either party to such Lease and there are no conditions that, with the passage of time or the giving of notice, or both, would constitute material defaults thereunder.
(4) Except as disclosed in the Rent Roll or in any estoppel delivered to Administrative Agent in connection with the closing of the Loans, to Borrower’s knowledge,(i) no Rent (other than security deposits) has been paid more than one (1) month in advance of its due date, (ii) all work to be performed to date by Borrower under each Lease has been performed in all material respects as required, and (iii) any payments, free rent, partial rent, rebate of rent or other payments, credits, allowances or abatements required to be given by Borrower to any tenant already have been received by such tenant.
(5) There has been no prior sale, transfer or assignment, hypothecation or pledge of Borrower’s or any Property Guarantor’s interest in any Lease or of the Rents received therein which is presently outstanding.
(6) Except as expressly described in the Title Insurance Policy or in Schedule 6.1 attached hereto or in an estoppel delivered to Administrative Agent in connection with the closing of the Loans, no tenant under any Lease has a right or option pursuant to such Lease or otherwise to purchase all or any part of the leased premises or the building of which the leased premises are a part.
(7) Except as described in the Environmental Report, neither Borrower nor any Property Guarantor has any knowledge of ...
Representations and Warranties on Leases. Grantor represents and warrants to Agent with respect to leases on the Land that: (1) any and all leases (including amendments) are in writing, and there are no oral agreements with respect thereto; (2) the copies of the leases, if any, delivered to Agent are true and complete; (3) to Grantor's knowledge, neither the landlord nor any tenant is in material default under any of the leases; (4) Grantor has no knowledge of any notice of termination or default with respect to any lease on the Land; (5) Grantor has not assigned or pledged any of the leases, the rents or any interests therein except to Agent; (6) no tenant or other party has an option to purchase all or any portion of the Land and/or Improvements; (7) no tenant has the right to terminate its lease prior to expiration of the stated term of such lease; and (8) no tenant has prepaid more than one month's rent in advance (except for bona fide security deposits not in excess of an amount not to exceed two months' rent).
Representations and Warranties on Leases. Borrower represents and warrants to Administrative Agent and the Lenders with respect to leases of the Portfolio, or any portion thereof, that: (a) to Borrower's knowledge, the occupancy reports, income statements, and delinquency reports for each Property delivered to Administrative Agent is true, correct and complete; (b) Borrower has not assigned or pledged any of the leases, the rents or any interests therein except to Administrative Agent (on behalf of Lenders); and (c) no tenant or other party has an option to purchase all or any portion of any Property.
Representations and Warranties on Leases. Borrower represents and warrants to the Administrative Agent and the Lenders that: (1) the only lease or other occupancy agreement presently affecting the Project is the Restaurant Lease; (2) the Restaurant Lease is in full force and effect, and has not been modified, supplemented or terminated in any way, and there are no oral agreements with respect thereto; (3) Borrower has delivered to the Administrative Agent a true, correct and complete copy of the Restaurant Lease; (4) neither the landlord nor the tenant is in default under the Restaurant Lease; (5) Mortgage Borrower has not assigned or pledged the Restaurant Lease, the rents therefrom or any interests therein except to the Mortgage Loan Administrative Agent (on behalf of the lenders party to the Mortgage Loan Agreement); and (6) the tenant under the Restaurant Lease has not prepaid more than one (1) month’s rent in advance (except for bona fide security deposits not in excess of an amount equal to two (2) months rent).
Representations and Warranties on Leases. Borrower represents and warrants to Administrative Agent and the Lenders with respect to Leases that, except as described in the rent roll or the tenant estoppel certificates delivered to Administrative Agent in connection with the closing of the Loans: (1) to Borrower’s knowledge, the rent roll delivered to Administrative Agent is true and correct in all material respects, and the Leases are valid and in and full force and effect; (2) the Leases are in writing, and there are no oral agreements with respect thereto; (3) the copies of the Leases delivered to Administrative Agent are true and complete in all material respects; (4) to Borrower’s knowledge, neither the landlord nor any tenant is in default under any of the Leases in any material respect (other than a default by the tenant under the Lease with NYLC, LLC (the “LeCirque Lease)); (5) Borrower has no knowledge of any notice of termination or default with respect to any Lease (other than a notice of default given by Borrower to the tenant under the Le Cirque Lease);
Representations and Warranties on Leases. Borrower represents and warrants to Agent and the Lenders that there are no Leases or oral agreements currently in place on any portion of the Project.
