Parking Lease Sample Clauses

Parking Lease. (a) Borrower shall not waive, excuse, condone or in any way release or discharge the lessor under any Parking Lease of or from such lessor’s material obligations, covenant and/or conditions under the related Parking Lease without the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed.
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Parking Lease. Borrower hereby represents and warrants to Lender the following with respect to the Parking Lease: (i) Borrower has heretofore provided Lender with a true and correct copy of the Parking Lease; (ii) the Parking Lease permits the interest of Mortgage Borrower to be encumbered by a mortgage (provided that the mortgage is at all times subject and subordinate to the Parking Lease); (iii) there have not been amendments or modifications to the terms of the Parking Lease other than pursuant to written instruments, copies of which have been previously provided to Lender; (iv) except for the Permitted Encumbrances and other encumbrances of record, Mortgage Borrower’s interest in the Parking Lease is not subject to any Liens or encumbrances superior to, or of equal priority with, the Mortgage; (v) Mortgage Borrower’s interest in the Parking Lease for Land Lot 78 is assignable upon a sale, lease or transfer of the Atlanta Individual Property without the consent of the Parking Lessor to Lender; and (vi) as of the date hereof, the Parking Lease is in full force and effect and no default by Mortgage Borrower, or to the best knowledge of Borrower, any other party thereto has occurred under the Parking Lease and there is no existing condition which, but for the passage of time or the giving of notice, could result in a default under the terms of the Parking Lease.
Parking Lease. (a) Borrower shall cause Mortgage Borrower, at its sole cost and expense, promptly and timely perform and observe in all material respects all the terms, covenants and conditions required to be performed and observed by Mortgage Borrower as lessee under the Parking Lease (including, but not limited to, the payment of all rent and other charges required to be paid under the Parking Lease).
Parking Lease. Borrower has parking lease with City of East Lansing for portion of multi-level parking garage that expires July 16, 2044 (loan matures September 11, 2025). The property relies upon the parking lease for zoning compliance (zoning report indicates 58 total parking spaces required v. 78 parking spaces leased from City). The loan documents provide for personal liability to the borrower and guarantors for losses from failure to pay amounts due under the Parking Lease to the extent revenue is available, and for springing recourse to the borrower and guarantors if the Parking Lease is terminated.
Parking Lease. Seller has provided Buyer with a true and complete copy of the Parking Lease and all amendments thereto. As of the Effective Date, no party to the Parking Lease has issued notice that any other party thereto is in default in the performance of its obligations under the Parking Lease, and the Parking Lease is in full force and effect.
Parking Lease. The parties shall negotiate, as required by Purchaser, the City of Stamford, the Seller or Purchaser’s Lender and/or investors, a parking lease, to be signed at or prior to closing, whereby the Purchaser, as tenant, leases spaces from the Seller, as landlord, in the parking garage contiguous to the Property; provided, however, that parking spaces are determined to be available by the City’s Traffic Engineering Department.
Parking Lease. On or before December 1, 2015, FRC and NPD shall enter into the Parking Lease.
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Parking Lease. Subject to obtaining the consent of the Landlord thereunder, which consent shall not be unreasonably withheld, the Parking Lease.
Parking Lease. As soon as practical following the Effective Date, the Seller shall contact the landlord under the Parking Lease and the Seller and the Buyer shall use their commercially reasonable best efforts, at the Buyer’s sole cost and expense, to obtain such landlord’s consent to the assignment of the Parking Lease contemplated hereunder, together with an assignment and assumption agreement in a form or forms as reasonably acceptable to the Seller and the Buyer to reflect the assignment of the Parking Lease to the Buyer (without any substantive modification to any of the terms thereof required). The Buyer shall cooperate to timely provide any and all information reasonably requested by the landlord under the Hotel Lease.
Parking Lease. Upon completion of the Parking Structure, the Developer and the CDA shall enter into a parking lease agreement for the Private Ramp (the “Parking Lease”), the form of which shall be agreed upon by the City, the CDA, and the Developer prior to the Real Estate Closing. On or before September 1, 2015, the parties shall agree on a term sheet setting forth the principal terms and conditions to be incorporated within the Parking Lease, including, without limitation, revenue generation and use of the Private Parking by tenants of the Project and others on commercially reasonable terms. The term of the Parking Lease shall be 27 years and the Developer shall pay the CDA annual base rent of Forty Thousand and no/100 Dollars ($40,000.00) throughout the term.
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