Common use of Additional Lease Provisions Clause in Contracts

Additional Lease Provisions. 1.20.11.1. Grantor covenants and agrees (i) to perform punctually all obligations and agreements to be performed by it as lessor or party thereto under any Lease, such that there will be no material and adverse impairment of the value of the Property or Beneficiary's interest under this Deed of Trust, and (ii) to do all things necessary or appropriate to compel performance by each Tenant of such Tenant's obligations and agreements under the Lease to which such Tenant is a party. Except as otherwise permitted hereunder, Grantor shall not give any notice, approval or consent or exercise any rights under or in respect of any Lease or any of such other instruments, which action, omission, notice, approval, consent or exercise of rights would release any Tenant or other party from, or reduce any Tenant's or any other party's obligations or liabilities under, or would result in the termination, surrender or assignment of, or the amendment or modification of in any material adverse respect, or would impair the validity of, any Lease or any of such other instruments, if any of the foregoing would affect any Individual Property in any material adverse respect, without the prior written consent of Beneficiary, and any attempt to do any of the foregoing without such consent shall be of no force and effect. 1.20.11.2. Grantor will promptly deliver to Beneficiary a copy of any notice from any Tenant under any Material Lease (defined below), in any such case claiming that Grantor is materially in default in the performance or observance of any of the terms, covenants or conditions thereof to be performed or observed by Grantor and Grantor will provide in each Material Lease at the Property executed after the date hereof to which Grantor is a party that any tenant delivering any such notice shall send a copy of such notice directly to Beneficiary. The term "

Appears in 2 contracts

Sources: Deed of Trust (Arden Realty Inc), Deed of Trust (Arden Realty Inc)

Additional Lease Provisions. 1.20.11.1. 1.20.11.1 Grantor covenants and agrees (i) to perform punctually all obligations and agreements to be performed by it as lessor or party thereto under any Lease, such that there will be no material and adverse impairment of the value of the Property or Beneficiary's interest under this Deed of Trust, and (ii) to do all things necessary or appropriate to compel performance by each Tenant of such Tenant's obligations and agreements under the Lease to which such Tenant is a party. Except as otherwise permitted hereunder, Grantor shall not give any notice, approval or consent or exercise any rights under or in respect of any Lease or any of such other instruments, which action, omission, notice, approval, consent or exercise of rights would release any Tenant or other party from, or reduce any Tenant's or any other party's obligations or liabilities under, or would result in the termination, surrender or assignment of, or the amendment or modification of in any material adverse respect, or would impair the validity of, any Lease or any of such other instruments, if any of the foregoing would affect any Individual Property in any material adverse respect, without the prior written consent of Beneficiary, and any attempt to do any of the foregoing without such consent shall be of no force and effect. 1.20.11.2. 1.20.11.2 Grantor will promptly deliver to Beneficiary a copy of any notice from any Tenant under any Material Lease (defined below), in any such case claiming that Grantor is materially in default in the performance or observance of any of the terms, covenants or conditions thereof to be performed or observed by Grantor and Grantor will provide in each Material Lease at the Property executed after the date hereof to which Grantor is a party that any tenant delivering any such notice shall send a copy of such notice directly to Beneficiary. The term "by

Appears in 1 contract

Sources: Loan Agreement (Arden Realty Inc)