Common use of Master Tenant and Subtenant Indebtedness Clause in Contracts

Master Tenant and Subtenant Indebtedness. Borrower shall cause Mortgage Borrower to use commercially reasonable efforts (including, without limitation, the filing of legal action to enforce Mortgage Borrower’s rights and remedies under the applicable Master Lease and Sublease, as applicable) to cause each Master Tenant and each Subtenant to conform to the limitations on Indebtedness set forth in each related Master Lease and each related Sublease, as applicable, and shall enforce its rights under such Master Lease and such Sublease subject to and in compliance with the terms hereof in the event of a breach of such provisions by such Master Tenant and/or by such Subtenant. Borrower shall not permit Mortgage Borrower to waive compliance by any Master Tenant and/or any Subtenant with such provisions, shall not consent to any modification of such provisions and shall not amend such provisions in each case without the prior written consent of Lender, not to be unreasonably withheld, conditioned or delayed.

Appears in 2 contracts

Samples: Mezzanine a Loan Agreement (Northstar Realty Finance Corp.), Mezzanine a Loan Agreement (NorthStar Healthcare Income, Inc.)

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Master Tenant and Subtenant Indebtedness. Borrower shall cause Mortgage Borrower to use commercially reasonable efforts (including, without limitation, the filing of legal action to enforce Mortgage Borrower’s rights and remedies under the applicable Master Lease and Sublease, as applicable) to cause each Master Tenant and each Subtenant to conform to the limitations on Indebtedness set forth in each related Master Lease and each related Sublease, as applicable, and shall enforce its rights under such Master Lease and such Sublease subject to and in compliance with the terms hereof in the event of a breach of such provisions by such Master Tenant and/or by such Subtenant. Borrower shall not permit Mortgage Borrower or Mezzanine A Borrower to waive compliance by any Master Tenant and/or any Subtenant with such provisions, shall not consent to any modification of such provisions and shall not amend such provisions in each case without the prior written consent of Lender, not to be unreasonably withheld, conditioned or delayed.

Appears in 2 contracts

Samples: Mezzanine B Loan Agreement (NorthStar Healthcare Income, Inc.), Mezzanine B Loan Agreement (Northstar Realty Finance Corp.)

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Master Tenant and Subtenant Indebtedness. Borrower shall cause Mortgage Borrower to use commercially reasonable efforts (including, without limitation, the filing of legal action to enforce Mortgage Borrower’s rights and remedies under the applicable Master Lease and Sublease, as applicable) to cause each Master Tenant and each Subtenant to conform to the limitations on Indebtedness set forth in each related Master Lease and each related Sublease, as applicable, and shall enforce its rights under such Master Lease and such Sublease subject to and in compliance with the terms hereof in the event of a breach of such provisions by such Master Tenant and/or by such Subtenant. Borrower shall not permit Mortgage Borrower, Mezzanine A Borrower or Mezzanine B Borrower to waive compliance by any Master Tenant and/or any Subtenant with such provisions, shall not consent to any modification of such provisions and shall not amend such provisions in each case without the prior written consent of Lender, not to be unreasonably withheld, conditioned or delayed.

Appears in 2 contracts

Samples: Mezzanine C Loan Agreement (NorthStar Healthcare Income, Inc.), Mezzanine C Loan Agreement (Northstar Realty Finance Corp.)

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