Ground Lease Matters Sample Clauses

Ground Lease Matters. (i) A consent executed and acknowledged by the ground lessor under the Ground Lease, in form and substance reasonably acceptable to Buyer, evidencing the consent of the ground lessor to the Ground Lease Assignment, (ii) an estoppel certificate executed and acknowledged by the ground lessor as to such matters relating to the Ground Lease as reasonably requested by Buyer and its lender, and (iii) an amendment to the Ground Lease executed and acknowledged by the ground lessor, in the form of Exhibit G attached hereto;
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Ground Lease Matters. No Asset shall be a Leasehold Estate unless agreed to by Administrative Agent and Lenders in their sole discretion; in which event (i) Administrative Agent shall have received from the appropriate Borrower or such other Loan Party which owns such Asset (i) such estoppel certificates, subordination agreements and other agreements in form and substance satisfactory to Administrative Agent (ii) the Ground Lease shall expire no earlier than ten (10) years after the Stated Maturity and shall otherwise be on terms acceptable to the Requisite Lenders and Administrative Agent in their sole discretion, including the financeability of such Ground Lease, (iii) the appropriate Borrower or such other Loan Party which owns such Asset shall have delivered to Administrative Agent (in sufficient copies for each Lender) executed or conformed, certified copies of each of the Ground Leases and all amendments and written waivers thereto entered into on or prior to the Closing Date and (iv) the Ground Lease shall not be subordinate to any lien and shall be the first lien against the fee simple estate in the real property and improvements; which fee simple estate shall not be encumbered by a mortgage unless agreed to by Administrative Agent and the Requisite Lenders in their sole discretion.
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Ground Lease Matters. (a) Each of the Florida Hotel Ground Lease and the Texas Hotel Ground Lease is in full force and effect, unmodified by any writing or otherwise (except for the Post-Closing Requirements applicable to the Texas Ground Leases), and neither Co-Borrower has waived, canceled or surrendered any of its respective rights thereunder, nor has either Co-Borrower made any election or exercised any option thereunder. To the knowledge of Co-Borrowers and Parent Guarantor, each of the Florida Master Lease and the Texas Master Ground Lease is in full force and effect and unmodified by any writing or otherwise (except for the Post-Closing Requirements applicable to the Texas Ground Leases).
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Ground Lease Matters. (a) The Florida Hotel Ground Lease is in full force and effect, unmodified by any writing or otherwise, and Borrower has not waived, canceled or surrendered any of its respective rights thereunder, nor has Borrower made any election or exercised any option thereunder. To the knowledge of Borrower and Parent Guarantor, the Florida Master Lease is in full force and effect and unmodified by any writing or otherwise.
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Ground Lease Matters. (i) The ground lease described on Exhibit C attached hereto (the “Ground Lease”) (x) is a true, correct and complete list of the documents comprising the Ground Lease, (y) has not been modified or amended except as may be described on Exhibit C attached hereto, and (z) contains the entire agreement between Ground Lessor and Seller, as the ground lessee under the Ground Lease.
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Ground Lease Matters. (a) Each of the Ground Leases is in full force and effect, unmodified by any writing or otherwise, and Co-Borrower has not waived, canceled or surrendered any of its rights thereunder, nor has Co-Borrower made any election or exercised any option thereunder.
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Ground Lease Matters. For so long as any portion of the Loan shall remain outstanding or any Obligations remain unsatisfied, Borrowers hereby covenant, warrant and represent as follows:
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Ground Lease Matters. Not less than 2 Business Days prior to the Scheduled Closing Date, Buyer shall have received (a) a counterpart of the Ground Lease Consent executed and acknowledged on behalf of Ground Lessor, with written authority from Ground Lessor that the Ground Lease Consent may be executed and acknowledged on behalf of Bio-Shore and Buyer's nominee, designee, or assignee and recorded at the Closing, and (b) an update for the Ground Lease Estoppel (the "Ground Lease Estoppel Update"), which Ground Lease Estoppel Update shall be dated not earlier than 7 days prior to the Closing Date, shall reflect that there have been no material adverse changes since the date of the original Ground Lease Estoppel, and may be executed solely by the trustee of The Salado Living Trust, dated June 7, 1976. Further, Buyer shall have received evidence satisfactory to Buyer, in Buyer's sole discretion, that any Ground Lease Cure Matters have been corrected or cured.
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Related to Ground Lease Matters

  • Ground Lease Reserved.

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Real Property Matters The Company does not own any real property as of the date hereof and has not owned any real property during the three years preceding the date hereof.

  • Space Leases (i) Borrower has delivered a true, correct and complete schedule of all Space Leases as of the date hereof, which accurately and completely sets forth in all material respects, for each such Space Lease, the following (collectively, the “Rent Roll”): the name and address of the tenant with the name, title and telephone number of the contact person of such tenant; the lease expiration date, extension and renewal provisions; the base rent and percentage rent payable; all additional rent and pass-through obligations; and the security deposit held thereunder and the location of such deposit.

  • Real Estate Matters The Administrative Agent shall have received a completed “Life-of-Loan” Federal Emergency Management Agency standard flood hazard determination with respect to each improved Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the applicable Credit Party relating thereto) and, with respect to any Mortgaged Property on which any “building” (as defined in the Flood Insurance Laws) is located in a special flood hazard area, evidence of flood insurance as and to the extent required under Section 9.3 of the Credit Agreement;

  • Real Estate Leases All leases, subleases, licenses, concessions, options, and other agreements relating to the occupancy of the Leased Real Property, including the right to all security deposits and other amounts and instruments deposited thereunder, are listed on Schedule 4.8.2 (collectively, the “Real Estate Leases”), and Seller has provided Buyer with a copy of such Real Estate Leases. Except as set forth in Schedule 4.8.2: (i) the Real Estate Leases have not been modified, amended, or assigned, are legally valid, binding and enforceable in accordance with their respective terms, and are in full force and effect; and (ii) to Seller’s knowledge, there are no material defaults (or matters that upon written notice or lapse of time would constitute material defaults) by Seller or by any other party to the Real Estate Leases.

  • Payment of Leasehold Obligations Each Borrower shall at all times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request will provide evidence of having done so.

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Leasing Matters (a) With respect to any Individual Property, Pledgor may cause Mortgage Borrower to enter into a proposed Lease (including the renewal or extension of an existing Lease (a “Renewal Lease”)) without the prior written consent of Lender, provided such proposed Lease or Renewal Lease (i) provides for rental rates and terms comparable to existing local market rates and terms (taking into account the type and quality of the tenant) as of the date such Lease is executed by Mortgage Borrower (unless, in the case of a Renewal Lease, the rent payable during such renewal, or a formula or other method to compute such rent, is provided for in the original Lease), (ii) is an arms-length transaction with a bona fide, independent third party tenant, (iii) does not have a material adverse effect on the value or quality of the applicable Individual Property, (iv) is written on the standard form of lease approved by Lender with such modifications thereto which are commercially reasonable given the then current market conditions with respect to the relevant Individual Property and which do not adversely affect Mortgage Borrower’s interests under the Lease or the value of the relevant Individual Property, and (v) is not a Major Lease. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) shall be subject to the prior approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. At Lender’s request, Pledgor shall cause Mortgage Borrower to promptly deliver to Lender copies of all Leases which are entered into pursuant to this Subsection together with Pledgor’s certification that it has satisfied or caused Mortgage Borrower to have satisfied all of the conditions of this Section.

  • Lease Estoppels With respect to each Mortgage Loan secured by retail, office or industrial properties, the Mortgage Loan Seller requested the related Mortgagor to obtain estoppels from each commercial tenant with respect to the Certified Rent Roll (except for tenants for whom the related lease income was excluded from the Mortgage Loan Seller’s underwriting). With respect to each Mortgage Loan predominantly secured by a retail, office or industrial property leased to a single tenant, the Mortgage Loan Seller reviewed such estoppel obtained from such tenant no earlier than 90 days prior to the origination date of the related Mortgage Loan (or such longer period as Mortgage Loan Seller may deem reasonable and appropriate based on Mortgage Loan Seller’s practices in connection with the origination of similar commercial and multifamily loans intended for securitization), and to Mortgage Loan Seller’s knowledge, based solely on the related estoppel, (x) the related lease is in full force and effect and (y) there exists no material default under such lease, either by the lessee thereunder or by the lessor subject, in each case, to customary reservations of tenant’s rights, such as with respect to CAM and pass-through audits and verification of landlord’s compliance with co-tenancy provisions.

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