Representations Concerning Leases Clause Samples
The "Representations Concerning Leases" clause requires one party, typically the seller or landlord, to confirm specific facts about existing leases related to a property. This may include affirming that all leases are valid, in full force, and that there are no undisclosed defaults or disputes with tenants. By providing these assurances, the clause helps the other party assess the risks associated with the property and ensures transparency regarding tenant relationships, ultimately reducing the likelihood of future disputes or unexpected liabilities.
Representations Concerning Leases. Borrower and the applicable Property Owners have delivered true and correct copies of each rent roll as required by Section 4.11(c).
Representations Concerning Leases. Borrower represents and warrants to Administrative Agent and Lenders that Borrower has delivered to Administrative Agent a true and correct copy of all tenant leases and each guarantee thereof (if any), affecting any part of the Improvements, together with an accurate and complete rent roll for the Project, and no such lease or guarantee contains any option to purchase all or any portion of the Property or any interest therein or contains any right of first refusal relating to any sale of the Property or any portion thereof or interest therein.
Representations Concerning Leases. (a) A true and correct copy of each Major Lease, and each Guarantee thereof (if any), affecting any part of the Borrowing Base Properties has been delivered to Administrative Agent and no Lease or Guarantee thereof (if any) contains any option to purchase all or any portion of any Borrowing Base Property or any interest therein or contains any right of first refusal relating to any sale of any Borrowing Base Property or any portion thereof or interest therein; and (b) Borrower and the applicable Mortgagors have delivered true and correct copies of each rent roll as required by Section 4.11(j).
Representations Concerning Leases. A true and correct copy of each Material Lease, and each Guarantee thereof (if any), affecting any part of the Borrowing Base Properties has been delivered to Administrative Agent and no such Material Lease or Guarantee contains any option to purchase all or any portion of any Borrowing Base Property or any interest therein or contains any right of first refusal relating to any sale of any Borrowing Base Property or any portion thereof or interest therein.
Representations Concerning Leases. The Seller represents and warrants to the Buyer that each of the foregoing identified Leases are valid and subsisting leases and that they are the only written Leases affecting the ▇▇▇▇▇▇ Hotel; that Seller has not sold, assigned, transferred or pledged any of the rents, issues or profits from said Leases; that no rents, issues or profits of the Leases becoming due subsequent to the date hereof have been collected by Seller other than as specifically provided in the Lease Agreements, nor has payment of any of the same been anticipated, waived, released, discounted or otherwise discharged or compromised by the Seller. There are no other leases, oral or written, except for the Leases and the apartment leases listed on the attached schedule.
Representations Concerning Leases. (a) The Initial Collateral Property Owner has delivered to Administrative Agent a true and correct copy of each of the Existing Leases and each guarantee thereof (if any), and no such Existing Lease or guarantee contains any option to purchase all or any portion of the Initial Collateral Property or any interest therein or contains any right of first refusal relating to any sale of the Initial Collateral Property or any portion thereof or interest therein;
(b) With respect to each additional Collateral Property pledged pursuant to SECTION 2.7(A)(XI), no lease or guarantee with respect to such additional Collateral Property contains any option to purchase all or any portion of such additional Collateral Property or any interest therein or contains any right of first refusal relating to any sale of such additional Collateral Property or any portion thereof or interest therein.
Representations Concerning Leases. Each Loan Party has delivered to Administrative Agent a true and correct copy of all tenant Leases and each guarantee thereof (if any), affecting any part of the Improvements, and no such Lease or guarantee contains any option to purchase all or any portion of any Borrowing Base Property or any interest therein or contains any right of first refusal relating to any sale of any Borrowing Base Property or any portion thereof or interest therein.
Representations Concerning Leases. Borrower and each Subsidiary Guarantor represents and warrants to Administrative Agent and Lenders that each has delivered to Administrative Agent a true and correct copy of all Leases and each guarantee thereof (if any), affecting any part of the Improvements owned by such Person, together with an accurate and complete rent roll for the Project owned by such Person, and no such Lease or guarantee contains any option to purchase all or any portion of such Property or any interest therein or contains any right of first refusal relating to any sale of such Property or any portion thereof or interest therein.
Representations Concerning Leases. Each Loan Party has delivered to Administrative Agent a true and correct copy of any major tenant Lease and each guarantee thereof (if any), affecting any material part of the Improvements and in the possession or control of such Loan Party or any Operating Lessee which is an Affiliate of a Loan Party and have delivered all Operating Leases, together with property-level financial information for the Borrowing Base Properties, and no such Lease or guarantee contains any option to purchase all or any portion of the Borrowing Base Properties or any interest therein or contains any right of first refusal relating to any sale of the Borrowing Base Properties or any portion thereof or interest therein.