Leasing of the Property. Prior to the execution of any new Leases for the Property or the renewal, modification or extension of any existing Leases for the Property, Seller shall give notice of its intent to do so to Purchaser. Such notice shall include the amount of WRIT Industrial IV space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods or other concessions), the amount of any Leasing Commission, any TI Obligations, and a copy of the form of Lease, Lease amendment or other document to be executed. Purchaser shall have five (5) days after receipt of such notice to notify Seller of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease. Seller shall not enter into any new Lease or any modification, extension or renewal of any existing Lease without Purchaser’s prior written consent, which consent may be granted or withheld in Purchaser’s sole discretion. Purchaser’s failure to object to a proposed Lease or the modification, extension or renewal of any existing Lease within the five (5)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of June 27, 2011, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions, modifications or renewals of Leases (if any) listed on Exhibit “D-1” have been approved by Purchaser. Nothing in this Agreement shall be interpreted to require Seller to lease any additional space in its Property as a condition to the sale of the Property, and Seller shall not have any obligation to enter into or to seek any Leases for the Property prior to the Closing Date.
Leasing of the Property. Prior to the Close of Escrow, Seller shall not terminate, amend or extend existing Leases, except with respect to the pending leases (the "Pending Leases") a schedule of which is attached hereto as Exhibit "R" in accordance with terms approved by TEM, or enter into new leases or lease extensions without the approval of TEM. Approval or disapproval shall be given within five (5) business days of TEM's
Leasing of the Property. Pursuant to the terms of this Agreement, Agent is authorized to lease the Property, 81 on behalf of Landlord, using the form of residential lease agreement attached hereto, as the same may be modified 82 from time to time (the “Lease Agreement”). The Lease Agreement may be modified from time to time, 83 and Landlord grants to Agent the right to modify the Lease Agreement for the purposes of making any and all 84 necessary changes required by law, making changes needed to correct errors, and making changes which benefit the 85 Landlord. Landlord may request a copy of the then current form of Lease Agreement at any time, and the Agent shall 86 provide a copy upon such request. Agent shall act in accordance with Section 54.1-2133 of the Code in leasing the 87 Property. Additionally, Agent shall make reasonable efforts to screen potential tenants. The parties agree that, unless 88 otherwise agreed to by Landlord in writing, the term of the Lease Agreement shall be for no less than 89 Twelve ( 12 ) months, and on the following 90 terms:
Leasing of the Property. Prior to the Close of Escrow, the ----------------------- Partnership and the Partners shall not terminate, amend or extend existing Leases, except with respect to the pending leases (the "Pending Leases") a schedule of which is attached hereto as Exhibit "Q" or with respect to agreements approved by Buyer, or enter into new leases or lease extensions without the approval of Buyer. License and storage agreements which are terminable by the Landlord do not require prior approval of Buyer. Approval or disapproval shall be given within five (5) business days of Buyer's receipt of a proposal from the Partnership. A failure of Buyer to respond within such five (5) Business Day period shall be deemed approval. To the extent approved by Buyer, the Partners agree to promptly deliver to Buyer true and complete copies of any lease amendments, lease extensions, lease termination agreements and new leases when fully executed. The Partners shall, at the Partners' sole expense, satisfy in full all lease commissions, tenant allowances or monetary concessions and complete all alterations or other work required to be performed by the Partners under the Leases (as shown on the Rent Schedule) or the Pending Leases.
Leasing of the Property. Prior to the execution of any new Leases or Work Agreements for the Property, or the amendment, renewal or extension of any existing Leases for the Property, such Seller shall give notice of its intent to do so to Purchaser (which notice may be given by email to Xxxxxxx Xxxxxx at xxxxxxx@xxxxxxxxxx.xxx and to Xxxxx Xxxxxxxx at xxxxxxxxx@xxxxxxxxxx.xxx). Such notice shall include the name of the proposed Tenant, financial information respecting such Tenant, amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods), the amount of any Leasing Commission, any TI Obligations, a copy of the form of Lease, Lease amendment or other document to be executed and, if the notice relates to a proposed new Work Agreement, a copy of the proposed new Work Agreement. Purchaser shall have five (5) Business Days after receipt of such notice to notify such Seller of its approval or of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease, or such proposed new Work Agreement, and Purchaser’s failure to approve within such five (5) Business Day period, by e-mail to Xxxx Xxxxxxx at xxxxxxxx@xxxx.xxx, shall be deemed to constitute Purchaser’s disapproval of such proposed Lease WRIT MOB - Transaction I or extension or renewal of any existing Lease, or such proposed new Work Agreement. Such Seller shall not enter into any new Lease, amendment, extension or renewal of any existing Lease, or any new Work Agreement, without Purchaser’s prior written consent to the material terms thereof, which consent shall not be unreasonably withheld, conditioned or delayed (and Seller may rely on an email from Xxxxxxx Xxxxxx on behalf of Purchaser as evidence of such consent). Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective Date, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions or renewals of Leases (if any) listed on Exhibit E have been approved by Purchaser. Without limiting the express provisions of this Agreement, nothing in this Agreement shall be interpreted to require that any space at the Properties be leased as a condition to Purchaser’s obligation to proceed with Closing.
Leasing of the Property
