Common use of Leases and Tenants Clause in Contracts

Leases and Tenants. The Leases are valid and are in full force and effect, and are in strict compliance with the requirements set forth in the Credit Agreement. Mortgagor is not in default under any of the terms thereof. Except as expressly permitted in the Credit Agreement, Mortgagor has not accepted any Rents in advance of the time the same became due under the Leases and has not forgiven, compromised or discounted any of the Rents. Mortgagor has title to and the right to assign the Leases and Rents to Beneficiary, and no other assignment of the Leases or Rents has been granted. To the best of Mortgagor’s knowledge and belief, no tenant or tenants occupying, individually or in the aggregate, more than five percent (5%) of the net rentable area of the Improvements are in default under their Lease(s) or are the subject of any bankruptcy, insolvency or similar proceeding.

Leases and Tenants. The To the best of Mortgagor’s knowledge and belief, the Leases are valid and are in full force and effect, and are in strict compliance with the requirements set forth in the Credit Agreement. Mortgagor is not in default under any of the terms thereof. Except as expressly permitted in the Credit Loan Agreement, Mortgagor has not accepted any Rents in advance of the time the same became due under the Leases and has not forgiven, compromised or discounted any of the Rents. Mortgagor has title to and the right to assign the Leases and Rents to BeneficiaryAdministrative Agent, and no other assignment of the Leases or Rents has been granted. To the best of Mortgagor’s knowledge and belief, no tenant or tenants occupying, individually or in the aggregate, more than five percent (5%) of the net rentable area of the Improvements are in default under their Lease(s) or are the subject of any bankruptcy, insolvency or similar proceeding.