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Common use of Term of Leases Clause in Contracts

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 28 contracts

Samples: Multifamily Loan and Security Agreement, Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 14 contracts

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). . (d) They do not include options to purchase.

Appears in 6 contracts

Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Funding Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 5 contracts

Samples: Continuing Covenant Agreement, Continuing Covenant Agreement, Continuing Covenant Agreement

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by LenderXxxxxx). (c) They do not include any Corporate Leases (unless otherwise approved in writing by LenderXxxxxx). (d) They do not include options to purchase.

Appears in 4 contracts

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). . (d) They do not include options to purchase.

Appears in 4 contracts

Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties senior housing facilities in the Property Jurisdiction. (b) They are for initial terms of at least 6 months 1 month and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 4 contracts

Samples: Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.), Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.), Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 4 contracts

Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to at the Mortgaged Property satisfy each of all the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdictionacceptable to Lender. (b) They do not include options to purchase or have purchase options associated with them. (c) They are for initial terms of at least 6 months one month and not more than 2 years (unless otherwise approved in writing by Lender)years. (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement, Loan Agreement

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by LenderXxxxxx). (c) They do not include any Corporate Leases (unless otherwise approved in writing by LenderXxxxxx). (d) They do not include options to purchase.

Appears in 2 contracts

Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties senior housing facilities in the Property Jurisdiction. (b) They are for initial terms of at least 6 months and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.)

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties senior housing facilities in the Property Jurisdiction. (b) They are for initial terms of at least 6 months 1 month and not more than 2 years (unless otherwise approved in writing by LenderXxxxxx). (c) They do not include any Corporate Leases (unless otherwise approved in writing by LenderXxxxxx). (d) They do not include options to purchase.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement

Term of Leases. All Leases for residential dwelling units with respect to the Mortgaged Property satisfy each of the following conditions: (a) They are on forms that are customary for similar multifamily properties senior housing facilities in the Property Jurisdiction. (b) They are for initial terms of at least 6 months 1 month and not more than 2 years (unless otherwise approved in writing by Lender). (c) They do not include any Corporate Leases (unless otherwise approved in writing by Lender). (d) They do not include options to purchase.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.)