Space Leases, Service Agreements and Equipment Leases Sample Clauses

Space Leases, Service Agreements and Equipment Leases. Borrower shall not, without the prior written consent of Lender, enter into or modify, amend or terminate (except upon a default by tenant) any lease of space (including restaurants) with respect to the Premises or any portion thereof in excess of 1,000 square feet. Any lease of space entered into by Borrower with respect to the Premises or any portion thereof shall (a) be subordinate to the lien of the Mortgage, (b) be pursuant to an arms' length transaction and (c) not contain any term which would materially affect Lender's rights under the Loan Documents. Borrower shall not, without the prior written consent of Lender, enter into any operating agreements or service contracts with respect to the Property ("Service Agreements") other than (i) agreements or contracts to provide customary guest services such as laundry, gift shop, or television cable services, or (ii) other agreements the aggregate annual payments for which do not exceed $50,000. All Service Agreements shall (a) be subordinate to the lien of the Mortgage and (b) be pursuant to an arms' length transaction. Borrower shall not, without the prior written consent of Lender, enter into any equipment lease which would cause the aggregate annual payments by Borrower for all equipment leases to exceed $25,000. All equipment leases shall be pursuant to an arms' length transaction. Within ten (10) days following the execution by Borrower of any new Lease, Borrower shall deliver to Lender a Subordination, Non-Disturbance and Attornment Agreement executed by the tenant under such Lease which is in form satisfactory to Lender unless the Lease contains subordination, non-disturbance and attornment provisions otherwise satisfactory to the Lender. Borrower shall perform and comply with all of the landlord's obligations under each Lease and shall not suffer or permit any breach or default on the part of the landlord to occur thereunder.
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Space Leases, Service Agreements and Equipment Leases. Borrower shall not, without the prior written consent of Lender, enter into or modify, amend or terminate (except upon a default by tenant) any lease of space (including restaurants) with respect to the Premises or any portion thereof in excess of 1,000 square feet. Any lease of space entered into by Borrower with respect to the Premises or any portion thereof shall (a) be subordinate to the lien of the Mortgage, (b) be pursuant to an arms' length transaction and (c) not contain any term which would materially affect Lender's rights under the Loan Documents. Borrower shall not, without the prior written consent of Lender, enter into any operating agreements or service contracts with respect to the Property ("Service Agreements") other than (i) agreements or contracts to provide customary guest services such as laundry, gift shop, or television cable services, or (ii) other agreements the aggregate annual payments for which do not exceed $50,000. All Service Agreements shall (a) be subordinate to the lien of the Mortgage and (b) be pursuant to an arms' length transaction. Borrower shall not, without the prior written consent of Lender, enter into any equipment lease which would cause the aggregate annual payments by Borrower for all equipment leases to exceed $25,000. All equipment leases shall be pursuant to an arms' length transaction.
Sample 1

Related to Space Leases, Service Agreements and Equipment Leases

  • Equipment Leases Landlord shall enter into such leases of equipment and personal property as Tenant may reasonably request from time to time, provided that the form and substance thereof shall be reasonably satisfactory to Landlord. Tenant shall prepare and deliver to Landlord all such lease documents for which Landlord's execution is necessary and Landlord shall promptly, upon approval thereof, execute and deliver such documents to Tenant. Tenant shall, throughout the Term, be responsible for performing all of Landlord's obligations under all such documents and agreements.

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted.

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Contracts and Leases (a) Each Material Contract and Lease is a valid and subsisting agreement, without any material default of Seller thereunder, and to the knowledge of Seller, without any default on the part of any other party thereto. To the knowledge of Seller, no event or occurrence has transpired which with the passage of time or giving of notice or both will constitute a default under any Material Contract or Lease. A true and correct list of each Material Contract and Lease and every amendment thereto or other agreement or document relating thereto is set forth as Schedule 3.6 to this Agreement. True and correct copies of the Material Contracts and Leases (and any amendments thereto) have been provided to Purchaser. At the time of Closing, Seller shall have made all payments and performed all obligations due through the Closing Date under each Contract and Lease, except to the extent that any payment due is set forth on the Purchase Price Adjustment Schedule and deducted in calculating the Purchase Price pursuant to Section 2.3.

  • Leasehold Agreements Agent shall have received landlord, mortgagee or warehouseman agreements satisfactory to Agent with respect to all premises leased by Borrowers at which Inventory and books and records are located;

  • Space Leases (i) Borrower has delivered a true, correct and complete schedule of all Space Leases as of the date hereof, which accurately and completely sets forth in all material respects, for each such Space Lease, the following (collectively, the “Rent Roll”): the name and address of the tenant with the name, title and telephone number of the contact person of such tenant; the lease expiration date, extension and renewal provisions; the base rent and percentage rent payable; all additional rent and pass-through obligations; and the security deposit held thereunder and the location of such deposit.

  • Lease Agreements 11 Section 3.15

  • Property Agreements A complete list of all FF&E Leases, Service Contracts and Leases (other than those entered into by the Existing Manager on its own behalf) used in or otherwise relating to the operation and business of the Hotel is attached hereto as Exhibit C-1, and, to Seller’s knowledge, a complete list of all other FF&E Leases, Service Contracts and Leases used in or otherwise relating to the operation and business of the Hotel is attached hereto as Exhibit C-2. The assets constituting the Property to be conveyed to Buyer hereunder constitute all of the property and assets of Seller used in connection with the operation and business of the Hotel. There are no leases, license agreements, leasing agent’s agreements, equipment leases, building service agreements, maintenance contracts, suppliers contracts, warranty contracts, operating agreements, or other agreements (i) to which Seller is a party or an assignee, or (ii) to Seller’s knowledge, binding upon the Hotel, relating to the ownership, occupancy, operation, management or maintenance of the Real Property, FF&E, Supplies or Tradenames, except for those Service Contracts, Leases, Warranties and FF&E Leases disclosed on Exhibit C or to be delivered to Buyer pursuant to Section 3.1. The Service Contracts, Leases, Warranties and FF&E Leases disclosed on Exhibit C or to be delivered to Buyer pursuant to Section 3.1 are in full force and effect, and no default has occurred and is continuing thereunder and no circumstances exist which, with the giving of notice, the lapse of time or both, would constitute such a default. No party has any right or option to acquire the Hotel or any portion thereof, other than Buyer.

  • Personal Property Leases Except as set forth in Schedule 3.13.(b), Company has no leases of personal property involving consideration or other expenditure in excess of $5,000 or involving performance over a period of more than three months.

  • Leases and Contracts Schedule 8(f) is a list of all Leases and Contracts relating to the Facility to which Seller is a party or by which Seller may be bound. Seller has made or will promptly make available to Buyer true, complete and accurate copies of all Leases and Contracts including, without limitation, any modifications thereto. All of the Leases and Contracts are in full force and effect without claim of material default there under, and, except as may be set forth on Schedule 8(f).

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