Common use of Status of Leases Clause in Contracts

Status of Leases. Borrower is not in default under any of the Leases, and to Borrower’s knowledge there is no default on the part of any other party to any Lease, which defaults could reasonably be expected to have a Material Adverse Effect. The Leases are legal, valid and binding agreements enforceable against Borrower and the tenants thereunder in accordance with their terms, and none of the Leases have been modified or amended in any material respect since the date true and correct copies of the same were delivered to Lender by Borrower. Borrower has not done or omitted to do any act so as to be estopped from exercising any of its rights under any of the Leases, and there is no assignment of any of Borrower’s right under any of such contracts to any person or entity other than Lender.

Status of Leases. Borrower is not in default under any of the Leases, and to Borrower’s knowledge there is no default on the part of any other party to any Lease, which defaults could reasonably be expected to have a Material Adverse Effect. The Leases are legal, valid and binding agreements enforceable against Borrower and the tenants thereunder in accordance with their terms, and none of the Leases have been modified or amended in any material respect since the date true and correct copies of the same were delivered to Lender by Borrower. Borrower has not done or omitted to do any act so as to be estopped from exercising any of its rights under any of the Leases, and there is no assignment of any of Borrower’s right under any of such contracts to any person or entity other than Lender.

Status of Leases. Borrower is not in default under any of the Leases, and to Borrower’s knowledge there is no default on the part of any other party to any Lease, which defaults could reasonably be expected to have a Material Adverse Effect. The Leases are legal, valid and binding agreements enforceable against Borrower and the tenants thereunder in accordance with their terms, and none of the Leases have been modified or amended in any material respect since the date true and correct copies of the same were delivered to Lender by Borrower. Borrower has not done or omitted to do any act so as to be estopped from exercising any of its rights under any of the Leases, and there is no assignment of any of Borrower’s 's right under any of such contracts to any person or entity other than Lender.