Interference with Leases Clause Samples
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Interference with Leases. (a) Grantor will neither do, nor neglect to do, anything which may cause or permit the termination of any Lease of all or any part of the Property, or cause or permit the withholding or abatement of any rent payable under any such Lease.
(b) Without Beneficiary’s prior written consent, which may be granted or withheld in Beneficiary’s sole discretion, Grantor shall not enter into or modify (including without limitation modifications relating to the financial covenants or any financial reporting requirements) any Lease of all or any part of the Property. Any lease, lease modification, lease amendment or lease termination (“Lease Transaction”) for which Beneficiary’s consent is required under the Loan Documents shall be deemed approved by Beneficiary if (i) prior to finalizing negotiations for such Lease Transaction, Grantor has submitted to Beneficiary an approval request package (“Approval Package”) with respect to such Lease Transaction containing a letter requesting Beneficiary’s approval (and containing a signature line on which Beneficiary may evidence its approval of such Lease Transaction) and notifying Beneficiary, in bold enlarged type, that Beneficiary’s approval will be deemed given if it fails to respond within ten (10) Business Days after its receipt of such Approval Package, and Beneficiary thereafter fails to respond within ten (10) Business Days after its receipt of such Approval Package; provided, however, that Grantor shall supply Beneficiary with any other information reasonably requested by Beneficiary with respect to such proposed Lease Transaction within five (5) Business Days after Beneficiary’s receipt of the Approval Package, in which event Beneficiary’s approval shall be deemed given if Beneficiary has not disapproved or approved the Approval Package within ten (10) Business Days after the last to arrive of the proposed Approval Package and any additional information so requested by Beneficiary. Each Approval Package shall contain a description of all of the principal terms of the proposed Lease Transaction, a description of the tenant and its controlling constituents and (with respect to new leases or modifications/amendments) Grantor’s reasonably detailed analysis of the tenant’s creditworthiness (with respect to new leases or modifications/amendments), and a copy of any and all term sheets or letters of intent executed in connection with such Lease Transaction, together with the proposed forms of definitive documentation. Granto...
Interference with Leases. (a) Borrower will neither do nor neglect to do anything which may cause or permit the termination of any Primary Lease, and Borrower will not enter into any modification of any Primary Lease without the prior written consent of Lender, such consent not to be unreasonably withheld, conditioned or delayed if the requested modification is not material.
(b) Borrower will neither do, nor neglect to do, anything which may cause or permit the termination of any Secondary Lease of all or any part of the Property, or cause or permit the withholding or abatement of any rent payable under any such Secondary Lease.
(c) Without Lender’s prior written consent, which may be granted or withheld in Lender’s sole discretion, Borrower shall not enter into or modify any Secondary Lease of all or any part of the Property. Any submission by Borrower for Lender’s approval of a Lease or modification thereof shall be accompanied by a copy of such Lease or modification, a Lease abstract, a then-current rent roll for the Property, year-to-date and prior year operating statements for the Property, and a cover letter requesting Lender’s approval which contains a signature line on which Lender may evidence its approval of such Lease or modification.
(d) Except with the prior written consent of Lender, which may be granted or withheld in Lender’s sole discretion, Borrower will not (i) collect rent from all or any part of the Property for more than one month in advance, (ii) assign the rents from the Property or any part thereof, or (iii) consent to the cancellation or surrender of all or any part of any Secondary Lease, except that Borrower may in good faith terminate any Secondary Lease for nonpayment of rent or other material breach by the tenant.
Interference with Leases. Mortgagor shall not collect rent from all or any part of the Property for more than one month in advance, or assign the rents from the Property or any part thereof. Without the prior written consent of Mortgagee, which consent shall not be unreasonably withheld, Mortgagor shall not terminate (other than at the stated expiration thereof) or make or permit any modification to the Lease relating to that portion of the Property currently operated as the so called "Two Dragons" restaurant (the "Two Dragons Lease"), or enter into, modify or terminate (other than at the stated expiration thereof) any Lease approved by Mortgagee as a replacement to, or substitution of, the Two Dragons Lease.
Interference with Leases. Mortgagor will neither do nor neglect to do anything which may cause or permit the termination of any Lease, or cause or permit the withholding or abatement of any rent payable under any Lease. Except with the prior written consent of Mortgagee, which may be granted or withheld in Mortgagee's sole discretion, Mortgagor will not (a) collect rent from all or any part of the Property for more than one month in advance, (b) assign the rents from the Property or any part thereof, or (c) consent to the cancellation or surrender of all or any part of any such Lease, except that Mortgagor may in good faith terminate any Lease for nonpayment of rent or other material breach by the tenant. Without Mortgagee's prior written consent, Mortgagor shall not enter into or modify any Lease if such Lease or modification covers more than 2,500 square feet.
Interference with Leases. Subject to the provisions of the Loan Agreement and Assignment of Rents and Leases (as defined in the Loan Agreement), Grantor will neither do nor neglect to do anything which may cause or permit the termination of any Tenant Lease, or cause or permit the withholding or abatement of any rent payable under any Tenant Lease. Except with the prior written consent of Beneficiary, Grantor will not (a) collect rent from all or any part of the Property for more than one (1) month in advance, (b) except as may be permitted pursuant to the Loan Agreement, modify any Tenant Lease, (c) assign the rents from the Property or any part thereof, or (d) except as may be permitted pursuant to the Loan Agreement, consent to the cancellation or surrender of all or any part of any Tenant Lease.
Interference with Leases. Grantor will neither do nor neglect to do anything that may cause or permit the termination of any lease of all or any part of the Property, or cause or permit the withholding or abatement of any rent payable under any such lease. Except with the prior written consent of Beneficiary, Grantor will not (a) collect rent from all or any part of the Property for more than one month in advance, (b) modify any lease of all or any part of the Property, (c) assign the rents from the Property or any part thereof, or (d) consent to the cancellation or surrender of all or any part of any such lease, except that Grantor may in good faith terminate any such lease for nonpayment of rent or other material breach by the tenant.
Interference with Leases. Mortgagor shall not collect rent from all or any part of the Property for more than one month in advance, or assign the rents from the Property or any part thereof. Without the prior written consent of Mortgagee, which consent shall not be unreasonably withheld, Mortgagor shall not (a) terminate or make or permit any modification to any Primary Lease, or (b) enter into or terminate any Secondary Lease, or modify or permit the modification to any economic term of any Secondary Lease.