Examples of Buyer Leases in a sentence
Seller agrees that, from the Effective Date through the earlier of the Closing Date and the expiration or termination of this Agreement, Seller will continue to faithfully perform and discharge its obligations as "landlord" under the Buyer Leases.
No Buyer Entity (i) owns, or since January 1, 2011, has owned, any real property, (ii) has guaranteed payment of any purchase price or rent for any real property, or (iii) is obligated to purchase or rent any real property, other than under the Buyer Leases.
The Rent Rolls show all leases, license agreements and other material occupancy agreements, written or oral, relating to the use or occupancy of any part of a Buyer Property (the "Buyer Leases"), including the name of each tenant, the date of each tenant's Buyer Lease and all material amendments or modifications, if any, thereto.
None of Seller nor any of its Affiliates has received from a governmental regulatory authority any written notice that any Non-Core Parcel is not in full governmental regulatory compliance, except for (a) regulatory matters the compliance with which is the obligation of the Buyer or any of its Affiliate(s) under the Buyer Leases, any management agreements and/or any other agreements, documents or instruments pertaining to a Parcel, and (b) those matters previously disclosed to Buyer or its Affiliate(s).
The Deposit OP Units shall also continue to serve as collateral under and pursuant to the Buyer Leases and related pledge agreements (collectively, the "PLEDGE AGREEMENTS") for the Parcels, as described in such Pledge Agreements.
Each Seller is an “accredited investor,” as such term is defined in Regulation D of the Securities Act of 1933, as amended, and will assume the Buyer Leases for its own account and not with a view to a sale or distribution thereof in violation of the 16 Securities Act of 1933, as amended, and the rules and regulations thereunder, any applicable state blue sky Laws or any other applicable securities Laws.
All required documentary, filing and recording fees and expenses in connection with the filing and recording of the assignments, conveyances or other instruments (i) required to convey title to the Assets to Buyer shall be borne by Buyer and (ii) required to convey title to the Buyer Leases to Sellers shall be borne by Sellers.
Without warranting title to the Buyer Leases, each Buyer Lease is valid, binding and in full force and effect against Buyer and its affiliates owning an interest therein and, to Buyer’s Knowledge, each other party thereto, and no material default exists in the performance of any obligation of Buyer (or its Affiliates) thereunder that would entitle the lessor to cancel or terminate any Buyer Lease and, to Buyer’s Knowledge, no material default exists thereunder by any other Person party thereto.
Concurrently with the execution of this Agreement and on the Effective Date, Buyer has caused each of its Affiliates who are tenants under any Buyer Lease(s) for the Non-Core Parcels and/or Virginia Parcels to execute, acknowledge and deliver to Escrow Agent a Termination of Lease in the form attached hereto as EXHIBIT N pertaining to each such Buyer Lease.
On the Closing Date, Buyer and Seller shall enter into the Buyer Leases pursuant to which Buyer will lease the Leaseback Realty from Seller in accordance with the terms and conditions thereof, in addition to the memoranda of the Buyer Leases in recordable form.