Common use of Leasing Matters Clause in Contracts

Leasing Matters. Borrower shall not (i) terminate any Lease or accept a surrender by a Tenant of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Major Lease will be permitted under the foregoing subclause (A) without the prior written consent of Lender, which consent shall not be unreasonably withheld; (ii) collect any of the Rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughs); or (iii) execute any other collateral assignments of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (iv) alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent.

Leasing Matters. Except as set forth on Schedule 5.2.14, Borrower shall not without Administrative Agent’s written consent, not to be unreasonably withheld, conditioned or delayed (provided that, for purposes of clarity, mezzanine lender’s consent shall in no event be required) (i) terminate any Material Lease or Major Lease or accept a surrender by a Tenant of any Lease (other than at expiration of the Lease term) other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Material Lease or Major Lease will be permitted under the foregoing subclause (A) without the prior written consent of LenderAdministrative Agent, which consent shall not be unreasonably withheld; (ii) collect any of the Rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughs); or (iii) execute any other collateral assignments of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); or (iv) alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without LenderAdministrative Agent’s prior written consent.

Leasing Matters. Except as set forth on Schedule 5.2.14, Borrower shall not (i) terminate any Material Lease or Major Lease or accept a surrender by a Tenant of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Material Lease or Major Lease will be permitted under the foregoing subclause (A) without the prior written consent of Lender, which consent shall not be unreasonably withheld; (ii) collect any of the Rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughs); or (iii) execute any other collateral assignments of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (iv) alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent.

Leasing Matters. Any Leases with respect to the Property written after the date hereof, for more than 10,000 square feet shall be subject to the prior written approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Following the occurrence of an Event of Default and upon request by Lender, Borrower shall furnish Lender with executed copies of all Leases. All renewals of Leases and all proposed Leases shall provide for rental rates comparable to existing local market rates. All proposed Leases shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender’s rights under the Loan Documents. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce and may amend or terminate any Lease the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or accept performed in a commercially reasonable manner and in a manner not to impair the value of the Property involved except that no termination by Borrower or acceptance of surrender by a Tenant of any Lease other than Leases shall be permitted unless by reason of either (A) a Tenant tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Major Lease covering more than 10,000 square feet will be permitted under the foregoing subclause (A) without the prior written consent of Lender, which consent ; (iii) shall not be unreasonably withheld; (ii) collect any of the Rents rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughsdeposits); or provided, however, that Borrower shall have the right to collect, at any one time, not more than five percent (iii5%) of the gross annual Rent in advance; (iv) shall not execute any other collateral assignments assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (ivv) shall not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (vi) shall execute and deliver at the request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual the Property without Lender’s prior written consent. Notwithstanding anything to the contrary contained herein, all new Leases and all amendments, modifications, extensions, and renewals of existing Leases with Tenants that are Affiliates of Borrower shall be subject to the prior written consent of Lender.

Leasing Matters. Borrower shall not (i) terminate any Lease or accept a surrender by a Tenant of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right Except as expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in this Section 5.1.20; provided5.1(u), howeverBorrower shall not, that no such termination without Lender's prior written consent, enter into, modify, amend, renew or surrender terminate any Lease. Borrower may enter into proposed new Leases and proposed renewals, modifications or extensions of any Major Lease will be permitted under the foregoing subclause (A) existing Leases without the prior written consent of LenderLender if such proposed Lease or renewal, which modification or extension: (1) shall be an arms-length transaction; and (2) shall be on commercially reasonable terms. In addition, Borrower may without the prior written consent of Lender enter into a termination of any Lease (in whole or in part), provided that such termination is in accordance with commercially reasonable practice for similar properties. Upon request, Borrower shall not be unreasonably withheldfurnish Lender with executed copies of all Leases. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases using its reasonable business judgment; (ii) shall enforce the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in accordance with commercially reasonable practices for similar properties; (iii) shall not collect any of the Rents rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughsdeposits); or (iiiiv) shall not execute any other collateral assignments assignment of lessor’s 's interest in the Leases or the Rents (except as contemplated by the Loan Documents)Rents; (ivv) shall not alter, modify or change the terms of the Leases in a manner inconsistent with within the provisions of the Loan Documents. Notwithstanding anything ; and (vi) shall execute and deliver at the request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consenttime reasonably require.

Leasing Matters. Borrower shall not (i) terminate any Lease or accept a surrender by a Tenant of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Major Lease will be permitted under the foregoing subclause (A) without the prior written consent of Lender, which consent shall not be unreasonably withheld; (ii) collect any of the Rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-pass throughs); or (iii) execute any other collateral assignments of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (iv) alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual the Property without Lender’s prior written consent.

Leasing Matters. Borrower shall not permit Mortgage Borrower to (i) terminate any Lease or accept a surrender by a Tenant of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in this Section 5.1.205.2.18; provided, however, that no such termination or surrender of any Major Lease will be permitted under the foregoing subclause (A) without the prior written consent of Lender, which consent shall not be unreasonably withheld; except that no termination by Mortgage Borrower or acceptance of surrender by a Tenant of any Leases shall be permitted without the prior written consent of Lender, which consent shall not be unreasonably withheld; (ii) permit Mortgage Borrower to collect any of the Rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expensesexpense, tax and other escalations or pass-throughs); or (iii) permit Mortgage Borrower to execute any other collateral assignments assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Mortgage Loan Documents); or (iv) shall not permit Mortgage Borrower to alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Mortgage Loan Documents. Notwithstanding anything to the contrary contained herein, Borrower shall not cause or permit Mortgage Borrower to enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consent.

Leasing Matters. Borrower shall not (i) terminate any Any Lease or accept a surrender by a Tenant of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant with respect to the exercise Property that covers more than one thousand (1,000) rentable square feet shall be written on a form of lease which has been approved by such Tenant of any termination right expressly provided in any existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Major Lease will be permitted under the foregoing subclause (A) without the prior written consent of Lender, which consent approval shall not be unreasonably withheld. Upon request, Borrower shall furnish Lender with executed copies of all Leases. All proposed Leases or renewals of existing leases entered into after the Closing Date shall be on commercially reasonable terms and shall not contain any terms which would materially affect Lender's' rights under the Loan Documents. All Leases executed after the date hereof shall be subordinate to the Mortgage encumbering the Property. Borrower (i) shall observe and perform the obligations imposed upon the lessor under the Leases in a commercially reasonable manner; (ii) shall enforce, and may amend or terminate, the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed in a commercially reasonable manner; (iii) shall not collect any of the Rents rents more than one (1l) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughsdeposits); or (iiiiv) shall not execute any other collateral assignments assignment of lessor’s 's interest in the Leases or the Rents Revenue (except as contemplated by the Loan Documents); (ivv) shall not alter, modify or change the terms of the Leases in a manner inconsistent with within the provisions of the Loan Documents. Notwithstanding anything ; and (vi) shall execute and deliver at the request of Lender all such further assurances, confirmations and assignments in connection with the Leases as Lender shall from time to the contrary contained herein, Borrower shall not enter into a lease of all or substantially all of any Individual Property without Lender’s prior written consenttime require.

Leasing Matters. (a) Borrower shall not may enter into or approve a proposed Lease (i) terminate any Lease including the renewal or accept a surrender by a Tenant extension of any Lease other than by reason of either (A) a Tenant default and then only in a commercially reasonable manner to preserve and protect the Individual Property, or (B) a Tenant pursuant to the exercise by such Tenant of any termination right expressly provided in any an existing Lease or any Lease hereafter entered into in compliance with the conditions set forth in Section 5.1.20; provided, however, that no such termination or surrender of any Major Lease will be permitted under the foregoing subclause (Aa “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 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, (iii) does not, in Borrower’s good faith judgment, have a material adverse effect on the value or quality of the relevant Property, (iv) is subject and subordinate to the applicable Security Instrument and the lessee thereunder agrees to attorn to Administrative Agent, (v) is written on a form of lease reasonably acceptable to Administrative Agent with modifications typically found in similar leases, (vi) with regard to any renewal or extension of the Master Lease, such renewal or extension must satisfy all requirements for renewal or extension as set forth in the Master Lease and (vii) with regard to any renewal or extension of any Ground Lease such renewal or extension must be satisfactory to Administrative Agent. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.16(a) shall be subject to the prior approval of Administrative Agent, which consent approval shall not be unreasonably withheld; (ii) collect withheld or delayed. At the request of any of the Rents more than one (1) month in advance (other than security deposits and estimated additional rent amounts on account of operating expenses, tax and other escalations or pass-throughs); or (iii) execute any other collateral assignments of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (iv) alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents. Notwithstanding anything to the contrary contained hereinFinancing Party, Borrower shall not enter into a lease promptly deliver to Financing Parties copies of all or substantially Leases which are entered into pursuant to this subsection together with Borrower’s written statement that it has satisfied all of any Individual Property without Lender’s prior written consentthe conditions of this Section.