Common use of Leasing Matters Clause in Contracts

Leasing Matters. (a) With respect to each Individual Property, Borrower may 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 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 use, value or operation of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) 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 written consent of Lender. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each any Individual Property, Borrower or Operating Tenant may enter into a proposed Lease (including the renewal or extension of an existing Lease Lease, other than an Operating Lease, (a “Renewal Lease”)) without the prior written consent of Lender, provided that if such proposed Lease or Renewal Lease is a Major Lease, such Major 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 Major Lease is executed by 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 use, value or operation quality of the applicable Individual Property, and (iv) is subject and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major Lease. All proposed Major Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) shall be subject to the prior written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s request, Borrower and Operating Tenant, as applicable, shall promptly deliver to Lender copies of all Major Leases which are entered into pursuant to this subsection Subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual Property, Each Borrower may 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 and in accordance with commercially reasonable leasing standards for the type and quality of the tenant) as of the date such Lease is executed by 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)self-storage industry, (ii) is an armsarm’s-length transaction with a bona fide, independent third party tenant, (iii) does not have a material materially adverse effect on the use, value or operation of the applicable related Individual PropertyProperty taken as a whole, (iv) is subject and subordinate to the related Security Instrument Mortgage and the lessee Tenant thereunder agrees to attorn to Lender, (v) is written on one does not contain any option, offer, right of first refusal, or other similar right to acquire all or any portion of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenantrelated Individual Property, and (vi) is not a Major Leasewritten on the standard form of lease approved by Lender. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) subsection shall be subject to the prior written consent approval of LenderLender and its counsel, at Borrowers’ expense. At Lender’s request, Each Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection together with such Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual the Property, Borrower or Operating Tenant may enter into a proposed Lease (including the renewal or extension of an existing Lease Lease, other than an Operating Lease, (a “Renewal Lease”)) without the prior written consent of Lender, provided that if such proposed Lease or Renewal Lease is a Major Lease, such Major 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 Major Lease is executed by 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 use, value or operation quality of the applicable Individual Property, and (iv) is subject and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major Lease. All proposed Major Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) shall be subject to the prior written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s request, Borrower and Operating Tenant, as applicable, shall promptly deliver to Lender copies of all Major Leases which are entered into pursuant to this subsection Subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each any Individual Property, Borrower may (and may allow Operating Lessee 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 Borrower or Operating Lessee (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 use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and and, upon Lender's reasonable request, the lessee thereunder agrees to attorn to Lender, Lender and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld, delayed or conditioned. At Lender’s 's request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s 's certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual Property, Borrower may 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 and in accordance with commercially reasonable leasing standards for the type and quality of the tenant) as of the date such Lease is executed by 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)self-storage industry, (ii) is an armsarm’s-length transaction with a bona fide, independent third party tenant, (iii) does not have a material materially adverse effect on the use, value or operation of the applicable related Individual PropertyProperty taken as a whole, (iv) is subject and subordinate to the related Security Instrument Mortgage and the lessee Tenant thereunder agrees to attorn to Lender, (v) is written on one does not contain any option, offer, right of first refusal, or other similar right to acquire all or any portion of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenantrelated Individual Property, and (vi) is not a Major Leasewritten on the standard form of lease approved by Lender. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) subsection shall be subject to the prior written consent approval of LenderLender and its counsel, at Borrower’s expense. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each any Individual Property, Borrower may 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 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) iii does not have a material adverse effect on the use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and and, upon Lender’s reasonable request, the lessee thereunder agrees to attorn to Lender, Lender and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld, delayed or conditioned. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual Property, Borrower may 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 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 armsarm’s-length transaction with a bona fide, independent third party tenant, (iii) does not have a material materially adverse effect on the use, value or operation of the applicable any Individual PropertyProperty taken as a whole, (iv) is subject does not contain any option, offer, right of first refusal, or other similar right to acquire all or any portion of any Individual Property, and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one has a base term of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and less than fifteen (vi15) is not a Major Leaseyears including options to renew. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) subsection shall be subject to the prior written consent approval of LenderLender and its counsel, at Borrower’s expense. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual any Collateral Property, each Borrower may enter into a proposed Lease (including the renewal or extension of an existing Lease (a “Renewal Lease”)) without the prior written consent of LenderAdministrative Agent, 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 such 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 would not have cause a material adverse effect on the use, value or operation of the applicable Individual PropertyMaterial Property Event, (iv) is subject and subordinate to the related Security Instrument and Mortgage and, upon Administrative Agent’s reasonable request, the lessee thereunder agrees to attorn to Lender, Administrative Agent and the Lenders pursuant to an agreement acceptable to Administrative Agent and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major Lease. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a7.16(a) shall be subject to the prior written consent approval of LenderAdministrative Agent, which approval shall not be unreasonably withheld, delayed or conditioned. At LenderAdministrative Agent’s request, Borrower Borrowers shall promptly deliver to Lender Administrative Agent copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s Borrowers’ certification that it has they have satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual any Property, Borrower may (and may allow Operating Lessee 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 Borrower or Operating Lessee (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 use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and and, upon Lender's reasonable request, the lessee thereunder agrees to attorn to Lender, Lender and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s 's request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s 's certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each any Individual Property, Borrower may (and may allow Operating Lessee 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 Borrower or Operating Lessee (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 use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and and, upon Lender's reasonable request, the lessee thereunder agrees to attorn to Lender, Lender and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s 's request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s 's certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual Property, Borrower may 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 to, or greater than, 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 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 use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and the Assignment of Leases and the lessee thereunder agrees to attorn to Lender, Lender and (v) is written on one of the standard forms form of lease used approved by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major LeaseLender. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) shall be subject to the prior written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual PropertyIf Borrower, Borrower may enter an Eligible REO Entity or Asset Manager enters into a proposed Lease Agreement (including the renewal or extension of an existing Lease Agreement (a “Renewal LeaseLease Agreement”)) without the prior written consent of Lenderwith respect to a Contributed REO Property, provided Borrower shall ensure that such proposed Lease Agreement or Renewal Lease Agreement (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 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)terms, (ii) is an arms-length transaction with a bona fide, independent third party tenantTenant, (iii) does not have a material adverse effect on the use, value or operation quality of the applicable Individual related Contributed REO Property, (iv) is subject and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenantattached hereto as Exhibit H, and (viv) is not a Major Leasein compliance with all applicable law. All proposed Leases Lease Agreements or Renewal Lease Agreements which do not satisfy the requirements set forth in this Section 5.1.17(a) 7.49 shall be subject to the prior written consent approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases Lease Agreements which are entered into pursuant to this subsection Section 7.49 together with Borrower’s certification that it has satisfied all of the conditions of this SectionSection 7.49.

Leasing Matters. (a) With respect to each Individual any Collateral Property, Borrower the applicable Operating Lessee may enter into a proposed Lease (including the renewal or extension of an existing Lease (a “Renewal Lease”)) without the prior written consent of LenderAdministrative Agent, 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 such 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 third-party tenant, (iii) does would not have cause a material adverse effect on the use, value or operation of the applicable Individual PropertyMaterial Property Event, (iv) is subject and subordinate to the Lien of the related Security Instrument and Mortgage and, upon Administrative Agent’s reasonable request, the lessee thereunder agrees to attorn to Lender, Administrative Agent and Lenders pursuant to an agreement acceptable to Administrative Agent and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major Lease. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a7.16(a) shall be subject to the prior written consent approval of LenderAdministrative Agent, which approval shall not be unreasonably withheld, delayed or conditioned. At LenderAdministrative Agent’s request, Borrower Borrowers shall promptly deliver to Lender Administrative Agent copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s Borrowers’ certification that it has they have satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each any Individual Property, Borrower may 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 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 use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one of the standard forms form of lease used approved by Borrower or Tenant, if Tenant is a nationally-recognized tenantLender, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s 's request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s 's certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual the Property, Borrower may 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 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 use, value or operation of the applicable Individual Property[intentionally deleted], (iv) is subject and subordinate to the related Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on one of the standard forms form of lease used approved by Borrower or Tenant, if Tenant is a nationally-recognized tenantLender with modifications consistent with clause (i) above, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld. At Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual Property, Borrower may (and may allow Operating Lessee 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 Borrower or Operating Lessee (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 use, value or operation quality of the applicable Individual Property, (iv) is subject and subordinate to the related Security Instrument and and, upon Lender's reasonable request, the lessee thereunder agrees to attorn to Lender, Lender and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) 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 written consent approval of Lender, which approval shall not be unreasonably withheld, delayed or conditioned. At Lender’s 's request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s 's certification that it has satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual any Collateral Property, each Borrower may enter into a proposed Lease (including the renewal or extension of an existing Lease (a “Renewal Lease”)) without the prior written consent of LenderAdministrative Agent, 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 such 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 would not have cause a material adverse effect on the use, value or operation of the applicable Individual PropertyMaterial Property Event, (iv) is subject and subordinate to the related Security Instrument and Mortgage and, upon Administrative Agent's reasonable request, the lessee thereunder agrees to attorn to Lender, Administrative Agent and Lenders pursuant to an agreement acceptable to Administrative Agent and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major Lease. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a7.16(a) shall be subject to the prior written consent approval of LenderAdministrative Agent, which approval shall not be unreasonably withheld, delayed or conditioned. At Lender’s Administrative Agent's request, Borrower Borrowers shall promptly deliver to Lender Administrative Agent copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s Borrowers' certification that it has they have satisfied all of the conditions of this Section.

Leasing Matters. (a) With respect to each Individual any Collateral Property, each Borrower may enter into a proposed Lease (including the renewal or extension of an existing Lease (a “Renewal Lease”)) without the prior written consent of LenderAdministrative Agent, 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 such 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 would not have cause a material adverse effect on the use, value or operation of the applicable Individual PropertyMaterial Property Event, (iv) is subject and subordinate to the related Security Instrument and Mortgage and, upon Administrative Agent's reasonable request, the lessee thereunder agrees to attorn to Lender, Administrative Agent and the Lenders pursuant to an agreement acceptable to Administrative Agent and (v) is written on one of the standard forms of lease used by Borrower or Tenant, if Tenant is a nationally-recognized tenant, and (vi) is not a Major Lease. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a7.16(a) shall be subject to the prior written consent approval of LenderAdministrative Agent, which approval shall not be unreasonably withheld, delayed or conditioned. At Lender’s Administrative Agent's request, Borrower Borrowers shall promptly deliver to Lender Administrative Agent copies of all Leases which are entered into pursuant to this subsection Subsection together with Borrower’s Borrowers' certification that it has they have satisfied all of the conditions of this Section.