Subordination of Leases. Borrower covenants, if any lease of any Collateral Pool Property is not subordinate to the Security Instrument securing such Collateral Pool Property, Borrower shall (i) use a new standard lease form containing subordination language acceptable to Lender, for all new leases of such Collateral Pool Property; and (ii) execute the new form of lease on any renewal of any existing leases of such Collateral Pool Property.
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Samples: Credit Agreement (Mid America Apartment Communities Inc), Credit Agreement (Summit Properties Partnership L P), Credit Agreement (Mid America Apartment Communities Inc)
Subordination of Leases. Borrower covenants, if any lease of any Collateral Pool Property is not subordinate to the Security Instrument securing such Collateral Pool Property, Borrower shall (i) use a new standard lease form containing subordination language acceptable to Lender, for all new leases of such Collateral Pool Property; , and (ii) execute the new form of lease on any renewal of any existing leases of such Collateral Pool Property.
Appears in 1 contract
Samples: Credit Agreement (United Dominion Realty Trust Inc)
Subordination of Leases. Borrower covenants, if any lease of any Collateral Pool Property is not subordinate to the Security Instrument securing such Collateral Pool Property, Borrower shall (i) use a new standard lease form containing subordination language acceptable to Lender, for all new leases of such Collateral Pool Property; and (ii) use its commercially reasonable efforts to execute the new form of lease on any renewal of any existing leases of such Collateral Pool Property.
Appears in 1 contract
Samples: Credit Agreement (Behringer Harvard Multifamily Reit I Inc)
Subordination of Leases. Borrower covenants, if any lease of any Collateral Pool Property is not subordinate to the Security Instrument mortgage securing such Collateral Pool Property, Borrower shall (i) use a new standard lease form containing subordination language acceptable to Lender, for all new leases of such Collateral Pool Property; and (ii) execute the new form of lease on any renewal of any existing leases of such Collateral Pool Property.
Appears in 1 contract
Samples: Credit Agreement (Smith Charles E Residential Realty Lp)
Subordination of Leases. Borrower covenants, if any lease of any Collateral Pool Property is not subordinate to the Security Instrument securing such Collateral Pool Property, Borrower shall (i) use a new standard lease form containing subordination language reasonably acceptable to Lender, for all new leases of such Collateral Pool Property; and (ii) execute the new form of lease on any renewal of any existing leases of such Collateral Pool Property.
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