Waiver of Interest In New Ground Lease. In the event any Ground Lease shall be terminated by reason of a default thereunder by Borrower and Lender shall require from the applicable Fee Owner a new ground lease, Borrower hereby waives any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 3 contracts
Samples: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (American Financial Realty Trust), Loan and Security Agreement (American Financial Realty Trust)
Waiver of Interest In New Ground Lease. In the event any a Ground Lease shall be terminated by reason of a default thereunder by Borrower the Ground Lessee and Lender Administrative Agent shall require from the applicable Fee Owner a new ground lease, Borrower hereby waives and shall cause such Ground Lessee to waive any right, title and interest in and to such new ground lease Ground Lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 3 contracts
Samples: Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotels & Resorts, Inc)
Waiver of Interest In New Ground Lease. In the event any the Ground Lease shall be terminated by reason of a default thereunder by Borrower and Lender shall require from the applicable Fee Owner a new ground lease, Borrower hereby waives any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 2 contracts
Samples: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (American Financial Realty Trust)
Waiver of Interest In New Ground Lease. In the event any of the Ground Lease Leases shall be terminated by reason of a default thereunder by Borrower and Lender shall require from that the applicable related Fee Owner enter into a new ground lease, Borrower hereby waives any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 2 contracts
Samples: Loan and Security Agreement (Station Casinos Inc), Loan and Security Agreement (Station Casinos Inc)
Waiver of Interest In New Ground Lease. In the event any the Ground Lease shall be terminated by reason of a default thereunder by Borrower and Lender shall require from the applicable Fee Owner a new ground lease, Borrower hereby waives any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 1 contract
Samples: Loan and Security Agreement (CNL Hotels & Resorts, Inc.)
Waiver of Interest In New Ground Lease. In the event any the Ground Lease shall be terminated by reason of a default thereunder by Borrower the Leasehold Holder and Lender Administrative Agent shall require from that the applicable Ground Lease Fee Owner enter into a new ground lease, Borrower hereby waives each Loan Party shall, if Administrative Agent so requires, waive any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law, to the extent permitted by applicable law.
Appears in 1 contract
