Clean Estoppel Certificate definition
Clean Estoppel Certificate means an Estoppel Certificate that does not reveal (i) any material landlord/owner breach or default that has not been cured by the Closing or (ii) any change in the economic terms of the subject Lease or REA arrangement from those previously disclosed to Transferee and which materially adversely affects the financial obligations of the landlord/owner under the subject agreement; the parties acknowledging that statements or qualifications by a tenant in the nature of reservations of rights will not, by themselves, cause an Estoppel Certificate to fail to qualify as a Clean Estoppel Certificate.
Examples of Clean Estoppel Certificate in a sentence
For each Wholly Owned Property to be included in such Closing, the Purchaser shall have received a Clean Estoppel Certificate from each REA Party.
If Dover Mall and Dover Commons are to be included in such Closing, the Purchaser shall have received a Clean Estoppel Certificate from the Ground Lessor.