Common use of Lender Approval Clause in Contracts

Lender Approval. The parties hereto acknowledge that the present mortgage encumbering the Premises in favor of General Electric Capital Corporation ("Lender") requires that the Lease be approved by Lender. Landlord shall submit the Lease to Lender for its approval upon execution of this Lease by both parties. In the event that Landlord notifies Tenant on or before the Commencement Date that Lender has not consented to this Lease then this Lease shall be terminated as of the date of such notice and shall be of no further force or effect. If Landlord shall not have given such notice to Tenant on or before the Commencement Date then this Lease shall continue in full force and effect. Tenant hereby agrees that Tenant shall agree to any amendment to this Lease required by Lender, provided that such amendments do not materially increase Tenant's obligations hereunder or materially decrease Tenant's rights or benefits hereunder. Tenant agrees to give Lender and such other Superior Mortgagee and Superior Lessor, if any, notice of any Landlord default under this Lease, provided that Tenant has been given written notice of such parties names and addresses. In the event Landlord fails to cure such default within the time period prescribed in this Lease, then Lender or such other Superior Mortgagee or Superior Lessor, as the case may be, shall have an additional fifteen (15) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary provided such cure is commenced within said fifteen (15) day period and thereafter diligently pursued.

Lender Approval. The parties hereto acknowledge that 9.1.1. Sellers and Purchaser shall use all reasonable efforts to apply for and secure the present mortgage encumbering Lender Approval. In furtherance of the Premises foregoing, Purchaser shall at its sole cost and expense promptly provide to Lender such financial and other information and assurances, and shall join in favor and execute such applications, assumptions and other documentation, as is reasonably acceptable to Purchaser and as the Lender may from time to time reasonably request or require in order fully to (a) secure the Lender Approval and (b) effect and evidence, including of General Electric Capital Corporation record, the Loan Assumption, including, without limitation, providing to Lender Corporate Office Properties Trust, a Maryland real estate investment trust ("LenderCOPT") requires that and/or COPLP, as a guarantor under the Lease be approved by LenderMortgage Loan. Landlord Each party shall submit keep the Lease to other promptly and reasonably informed of its progress in applying for and securing such Lender for its approval upon execution of this Lease by both partiesApproval as aforesaid. In the event Purchaser is not deemed to be a creditworthy party by, or is otherwise not acceptable to, Lender, Purchaser shall cause an affiliate of Purchaser acceptable to Lender to guaranty all obligations under the Loan and otherwise assume the obligations of each guarantor under the Mortgage Loan; provided, however, that Landlord notifies Tenant no principal of Purchaser or any affiliate of purchaser shall be required to provide a personal guaranty of or in connection with the Mortgage Loan. If after the Termination Notice Date TRC I determines, in its reasonable discretion, that Lender will not grant the Lender Approval prior to the Outside Closing Date, Sellers may terminate this Agreement by written notice to Purchaser, in which event the Deposit shall be returned to Purchaser, and this Agreement shall terminate and no longer shall be of any force or effect, and no party shall have any further liability or obligation hereunder to any other, except for any Surviving Obligations. Purchaser and Sellers hereby acknowledge that Purchaser will present to Lender Purchaser's Greens I Entity as borrower under, and COPT as guarantor of, the Mortgage Loan. Purchaser and Sellers shall use commercially reasonable efforts to secure Lender's approval of such proposed borrower and guarantor under the Mortgage Loan and of all the documentation necessary to effect the Lender Approval and the Loan Assumption on or before the Commencement Date that Lender has not consented to this Lease then this Lease shall be terminated as of the date of such notice and shall be of no further force or effect. If Landlord shall not have given such notice to Tenant on or before the Commencement Date then this Lease shall continue in full force and effect. Tenant hereby agrees that Tenant shall agree to any amendment to this Lease required by Lender, provided that such amendments do not materially increase Tenant's obligations hereunder or materially decrease Tenant's rights or benefits hereunder. Tenant agrees to give Lender and such other Superior Mortgagee and Superior Lessor, if any, notice of any Landlord default under this Lease, provided that Tenant has been given written notice of such parties names and addresses. In the event Landlord fails to cure such default within the time period prescribed in this Lease, then Lender or such other Superior Mortgagee or Superior Lessor, as the case may be, shall have an additional fifteen (15) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary provided such cure is commenced within said fifteen (15) day period and thereafter diligently pursuedTermination Notice Date.

Lender Approval. The parties hereto Landlord and Tenant acknowledge and agree that the present mortgage encumbering continued effectiveness of this Amendment is subject to the Premises in favor approval of General Electric Capital Corporation this Amendment by Teachers Insurance and Annuity Association, Landlord's lender with respect to the Center ("Lender") requires that ). Promptly upon the Lease be approved last execution and delivery of this Amendment by Lender. Tenant and Landlord, Landlord shall submit the Lease this Amendment to Lender with a request for its approval hereof by Lender in writing. Thereafter, Landlord shall use reasonable efforts to obtain the approval of Lender to this Amendment as promptly as practicable. Promptly upon execution receipt of this Lease by both partiessuch approval from Lender, Landlord shall so notify Tenant of the same. In the event that Landlord notifies Tenant on or before is unable to obtain the Commencement Date that approval of Lender has not consented to this Lease then Amendment within thirty (30) days after Tenant's execution and delivery of this Lease Amendment, either party shall have the right to terminate this Amendment. Such right shall be terminated exercised by either party by written notice to the other given at any time after the expiration of such thirty (30) day period and prior to Landlord's notice to Tenant as of to such approval. If the parties are entitled to terminate this Amendment and either party exercises such right, then (a) this Amendment shall terminate upon the date of receipt of such notice of termination by the recipient party, (b) each party shall bear its own costs and fees incurred in the preparation and negotiation of this Amendment, (c) neither party shall be of no have any further force rights or effect. If Landlord shall not have given such notice obligations pursuant to Tenant on or before this Amendment and (d) the Commencement Date then this Lease shall continue remain in full force and effect. Tenant hereby agrees that Tenant shall agree to any amendment effect without regard to this Lease required by Lender, provided that such amendments do not materially increase Tenant's obligations hereunder or materially decrease Tenant's rights or benefits hereunder. Tenant agrees to give Lender and such other Superior Mortgagee and Superior Lessor, if any, notice of any Landlord default under this Lease, provided that Tenant has been given written notice of such parties names and addresses. In the event Landlord fails to cure such default within the time period prescribed in this Lease, then Lender or such other Superior Mortgagee or Superior Lessor, as the case may be, shall have an additional fifteen (15) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary provided such cure is commenced within said fifteen (15) day period and thereafter diligently pursuedAmendment.

Lender Approval. The parties hereto Landlord and Tenant acknowledge and agree that the present mortgage encumbering continued effectiveness of this Amendment is subject to the Premises in favor approval of General Electric Capital Corporation this Amendment by Teachers Insurance and Annuity Association, Landlord's lender with respect to the Center ("Lender") requires that ). Promptly upon the Lease be approved last execution and delivery of this Amendment by Lender. Tenant and Landlord, Landlord shall submit the Lease this Amendment to Lender with a request for its approval hereof by Lender in writing. Thereafter, Landlord shall use reasonable efforts to obtain the approval of Lender to this Amendment as promptly as practicable. Promptly upon execution receipt of this Lease by both partiessuch approval from Lender, Landlord shall so notify Tenant and shall furnish a copy of any written approval to Tenant. In the event that Landlord notifies Tenant on or before is unable to obtain the Commencement Date that approval of Lender has not consented to this Lease then Amendment within fifty (50) days after Tenant's execution and delivery of this Lease Amendment, either party shall have the right to terminate this Amendment. Such right shall be terminated exercised by either party by written notice to the other given at any time after the expiration of such fifty (50) day period and prior to Landlord's notice to Tenant as of to such approval. If the parties are entitled to terminate this Amendment and either party exercises such right, then (a) this Amendment shall terminate upon the date of receipt of such notice of termination by the recipient party, (b) each party shall bear its own costs and fees incurred in the preparation and negotiation of this Amendment, (c) neither party shall be of no have any further force rights or effect. If Landlord shall not have given such notice obligations pursuant to Tenant on or before this Amendment and (d) the Commencement Date then this Lease shall continue remain in full force and effect. Tenant hereby agrees that Tenant shall agree to any amendment effect without regard to this Lease required by Lender, provided that such amendments do not materially increase Tenant's obligations hereunder or materially decrease Tenant's rights or benefits hereunder. Tenant agrees to give Lender and such other Superior Mortgagee and Superior Lessor, if any, notice of any Landlord default under this Lease, provided that Tenant has been given written notice of such parties names and addresses. In the event Landlord fails to cure such default within the time period prescribed in this Lease, then Lender or such other Superior Mortgagee or Superior Lessor, as the case may be, shall have an additional fifteen (15) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary provided such cure is commenced within said fifteen (15) day period and thereafter diligently pursuedAmendment.