Approved Leases definition

Approved Leases means an executed Lease (as defined in the Security Documents) that is (A) approved by the Bank in its sole reasonable discretion prior to closing, or (B) a future executed lease, whether new or a renewal of an existing Lease, related to any space over 5,000 square feet which is approved by the Bank in its sole reasonable discretion as to: (i) form and content, (ii) creditworthiness of tenant and (iii) economic terms. The Bank shall have seven (7) business days to approve or disapprove of the applicable lease or it shall be deemed an Approved Lease. Any other lease shall be deemed an Approved Lease provided the applicable tenant is in occupancy, open and paying its contractual rent pursuant to its Lease. An Approved Lease shall cease to be an Approved Lease if the tenant thereunder vacates its leased space or has given notice of its intent to vacate within the following six (6) months, is insolvent or seeks bankruptcy protection (unless tenant shall re-affirm the lease in bankruptcy within three (3) months of such filing), or if a tenant under such Approved Lease is in default for non-payment of rent for more than ninety (90) days or if such Approved Lease has been terminated.

Approved Leases means the Leases set forth on Schedule C annexed hereto and all Leases entered into after the date of this Agreement in accordance with Section 4.6 hereof.

Approved Leases means all Leases executed by any Borrower in accordance with Section 10.1(i) hereof. Assignments of Rents: One or more assignments of leases and rents made by the Borrowers in favor of Lender assigning all leases, subleases and other agreements relating to the use and occupancy of all or any portion of the Projects, and all present and future leases, rents, issues and profits therefrom, as the same may be hereafter amended, restated, supplemented or otherwise modified pursuant to the terms thereof.

Examples of Approved Leases in a sentence

• Seller agrees to give to Purchaser possession of the Property on the Closing Date, subject to the rights of tenants in possession under Approved Leases in effect as of the Closing Date.

• The Approved Leases and Purchase/Option Agreements are in full force and effect, and are enforceable in accordance with their terms (subject to bankruptcy, insolvency, reorganization, or other laws affecting creditors’ rights generally and to principles of equity, regardless of whether considered in a proceeding in equity or at law).

• Borrower shall use its best efforts to maintain all leasable space in the Property leased at no less than fair market rental rates pursuant to Approved Leases.

• Notwithstanding anything to the contrary in this Agreement, Developer shall not be responsible for constructing any improvements on the Project which are the responsibility of the ground or pad tenants under the Approved Leases (“Tenant Improvements”).

• Any balance remaining in such account shall be released to Mortgagor after (i) all the space formerly occupied by Iron Mountain is occupied by tenants under Approved Leases or (ii) one or more tenants are occupying space in the Mortgaged Property under Approved Leases which will generate rental income for Mortgagor equal to, or greater than, that which is being received by Mortgagor under the Iron Mountain Lease as of the date hereof.

More Definitions of Approved Leases

Approved Leases means all Leases (i) existing as of the date of this Agreement, (ii) approved by Administrative Agent, (iii) deemed approved by Administrative Agent, or (iv) entered into by Borrower that are not required to be approved by Administrative Agent.

Approved Leases shall have the meaning given to such term in Section 10.4

Approved Leases means leases to (i) existing tenants or (ii) approved new tenants with leases satisfactory to Beneficiary for terms of at least one year, to commence not later than thirty (30) days following completion of restoration.

Approved Leases means collectively (i) the Leases, (ii) any renewals or expansions of the Leases made pursuant to the terms of such Leases and (iii) any other renewal, expansion or new lease made by Seller after the Agreement Date with Buyer's approval as provided in Section 5.5(a)(ix) or for which Buyer's approval is not required under section 5.5(a)(ix).

Approved Leases means Leases created after the date hereof without contravening Section 7.3;

Approved Leases means a collective reference to those leases listed on Schedule 1.01(a) attached hereto.

Approved Leases means, collectively, (i) Leases described on the Rent Roll as of the Closing Date, (ii) each Approved Leasing Parameters Lease, and (iii) any other Leases approved in writing by Agent.