Common use of Tenant Documents Clause in Contracts

Tenant Documents. The Company shall deliver to the Administrative Agent (or cause any Subsidiary of the Company to deliver to the Administrative Agent), within sixty (60) days after the recording of a Mortgage encumbering a Parcel for the benefit of the Administrative Agent and the Banks: (a) estoppel certificates, in form and substance satisfactory to the Administrative Agent, executed by each tenant whose lease covers at least twenty-five percent (25%) of the net rentable area of the improvements located on such Parcel; and (b) estoppel certificates and/or subordination, nondisturbance and attornment agreements, in form and substance satisfactory to the Administrative Agent, executed by such additional tenants as the Administrative Agent, by written notice to the Company prior to the recording of the Mortgage encumbering such Parcel, may require. In the event that the Company fails to deliver such estoppel certificates or subordination, nondisturbance and attornment agreements to the Administrative Agent within such sixty (60) day period, such Parcel shall, at the option of the Majority Banks exercised by written notice from the Administrative Agent to the Company within sixty (60) days after the expiration of the sixty-day period within which Borrower is required to comply with the provisions of this Section 2.17, cease to be an Approved Parcel. Upon such written notice from the Administrative Agent, the Availability shall be adjusted to reflect such change and the Company shall repay to the Administrative Agent, for the benefit of the Banks, within thirty (30) days after such written notice from the Administrative Agent, any amounts payable pursuant to Section 2.7.2(a). The Banks shall be deemed to have waived their right to cause a Parcel to cease to be an Approved Parcel pursuant to this Section 2.17 if the Banks fail to act within sixty (60) days after the end of the period within which the Company is required to comply with the provisions of this Section 2.17. 2.18

Tenant Documents. The Company shall deliver to the Administrative Agent (or cause any Subsidiary of the Company to deliver to the Administrative Agent), within sixty (60) days after the recording of a Mortgage encumbering a Parcel for the benefit of the Administrative Agent and the Banks: (a) estoppel certificates, in form and substance satisfactory to the Administrative Agent, executed by each tenant whose lease covers at least twenty-five percent (25%) of the net rentable area of the improvements located on such Parcel; and (b) estoppel certificates and/or subordination, nondisturbance and attornment agreements, in form and substance satisfactory to the Administrative Agent, executed by such additional tenants as the Administrative Agent, by written notice to the Company prior to the recording of the Mortgage encumbering such Parcel, may require. In the event that the Company fails to deliver such estoppel certificates or subordination, nondisturbance and attornment agreements to the Administrative Agent within such sixty (60) day period, such Parcel shall, at the option of the Majority Banks exercised by written notice from the Administrative Agent to the Company within sixty (60) days after the expiration of the sixty-day period within which Borrower is required to comply with the provisions of this Section 2.17, cease to be an Approved Parcel. Upon such written notice from the Administrative Agent, the Availability shall be adjusted to reflect such change and the Company shall repay to the Administrative Agent, for the benefit of the Banks, within thirty (30) days after such written notice from the Administrative Agent, any amounts payable pursuant to Section 2.7.2(a). The Banks shall be deemed to have waived their right to cause a Parcel to cease to be an Approved Parcel pursuant to this Section 2.17 if the Banks fail to act within sixty (60) days after the end of the period within which the Company is required to comply with the provisions of this Section 2.17. 2.18

Tenant Documents. The Company shall deliver to the Administrative Agent (or cause any Subsidiary of the Company to deliver to the Administrative Agent), within sixty (60) days after the recording of a Mortgage encumbering a Parcel for the benefit of the Administrative Agent and the Banks: (a) estoppel certificates, in form and substance satisfactory to the Administrative Agent, executed by each tenant whose lease covers at least twenty-five percent (25%) of the net rentable area of the improvements located on such Parcel; and (b) estoppel certificates and/or subordination, nondisturbance and attornment agreements, in form and substance satisfactory to the Administrative Agent, executed by such additional tenants as the Administrative Agent, by written notice to the Company prior to the recording of the Mortgage encumbering such Parcel, may require. In the event that the Company fails to deliver such estoppel certificates or subordination, nondisturbance and attornment agreements to the Administrative Agent within such sixty (60) day period, such Parcel shall, at the option of the Majority Banks exercised by written notice from the Administrative Agent to the Company within sixty (60) days after the expiration of the sixty-day period within which Borrower the Company is required to comply with the provisions of this Section 2.172.16, cease to be an Approved Parcel. Upon such written notice from the Administrative Agent, the Availability shall be adjusted to reflect such change and the Company shall repay to the Administrative Agent, for the benefit of the Banks, within thirty (30) days after such written notice from the Administrative Agent, any amounts payable pursuant to Section 2.7.2(a). The Banks shall be deemed to have waived their right to cause a Parcel to cease to be an Approved Parcel pursuant to this Section 2.17 2.16 if the Banks fail to act within sixty (60) days after the end of the period within which the Company is required to comply with the provisions of this Section 2.16. 2.17. 2.18

Tenant Documents. The Company shall deliver to the Administrative Agent (or cause any Subsidiary of the Company to deliver to the Administrative Agent), within sixty (60) days after the recording of a Mortgage encumbering a Parcel for the benefit of the Administrative Agent and the Banks: (a) estoppel certificatescertificates (“Estoppel Certificates”) and/or subordination, nondisturbance and attornment agreements (“SNDAs”), as required by the Administrative Agent, in form and substance satisfactory to the Administrative Agent, executed by each tenant whose lease covers at least twenty-five percent (25%) of the net rentable area of the improvements located on such Parcel; and (b) estoppel certificates Estoppel Certificates and/or subordinationSNDAs, nondisturbance ), as required by and attornment agreements, in form and substance satisfactory to the Administrative Agent, executed by such additional tenants as the Administrative Agent, by written notice to the Company prior to the recording of the Mortgage encumbering such Parcel, may require. In the event that the Company fails to deliver such estoppel certificates Estoppel Certificates or subordination, nondisturbance and attornment agreements SNDAs to the Administrative Agent within such sixty (60) day period, such Parcel shall, at the option of the Majority Banks exercised by written notice from the Administrative Agent to the Company within sixty (60) days after the expiration of the sixty-day sixty (60)-day period within which Borrower the Company is required to comply with the provisions of this Section 2.172.16, cease to be an Approved Parcel. Upon such written notice from the Administrative Agent, the Availability shall be adjusted to reflect such change and the Company shall repay to the Administrative Agent, for the benefit of the Banks, within thirty (30) days after such written notice from the Administrative Agent, any amounts payable pursuant to Section subsection 2.7.2(a). The Banks shall be deemed to have waived their right to cause a Parcel to cease to be an Approved Parcel pursuant to this Section 2.17 2.16 if the Banks fail to act within sixty (60) days after the end of the period within which the Company is required to comply with the provisions of this Section 2.172.16. 2.18On the Closing Date, certain tenants occupying improvements located on Parcels which have previously delivered SNDAs to the Banks in connection with the Existing Credit Agreement, will be executing new tenant Estoppel Certificates, satisfactory in form and substance to Administrative Agent, containing among other things reaffirmations of such existing SNDAs (such new Estoppel Certificates being the “Estoppel and Reaffirmation of SNDAs”). The Company hereby expressly acknowledges and consents to such reaffirmations, and agrees that any obligations and agreements of such tenants set forth in the reaffirmed SNDAs shall be given full effect in accordance with their terms.