Common use of Borrowing Base Leases Clause in Contracts

Borrowing Base Leases. All Borrowing Base Leases (and all renewals thereof) executed after the Closing Date shall provide for rental rates obtained through arm’s-length negotiations, shall be on commercially reasonable terms, and shall not contain any terms which could reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Sources: Credit Agreement (Macerich Co), Credit Agreement (Macerich Co)

Borrowing Base Leases. All Borrowing Base Leases (and all renewals thereof) executed after the Closing Date shall provide for rental rates obtained through arm’s-length negotiations, shall be on commercially reasonable terms, and shall not contain any terms which could reasonably be expected to have a Material Adverse Effect.. Specified Ground Leases. With respect to any Specified Ground Lease of any applicable Borrower Party:

Appears in 1 contract

Sources: Credit Agreement (Macerich Co)