Regarding Leases Clause Samples

Regarding Leases. Except as otherwise provided in the Loan Agreement, Borrower shall not enter into any Leases with respect to the Mortgaged Property and shall not modify or amend any Leases without Lender's prior written consent in each instance. As to each lease or occupancy agreement, Borrower will perform every material obligation of the lessor and, to the extent commercially reasonable, will use commercially reasonable efforts to enforce every material obligation of the lessee in the leases in effect with respect to all or any part or all of the Mortgaged Property and, except as otherwise provided in the Loan Agreement, Borrower will not: (i) cancel any such Lease, nor terminate or accept a surrender thereof, or reduce the rent payable thereunder or modify or amend any such Lease; (ii) accept any prepayment of rent thereunder (except any rent which may be required to be prepaid by the terms of any such lease) for more than thirty (30) days; or (iii) enter into any future Leases, without first obtaining on each occasion the prior written consent of Lender. No portion of the Mortgaged Property shall be leased or rented for residential purposes. As to all leases and occupancy agreements, Lender, at its option from time to time, may require that all security deposits and similar funds or security provided by a lessee or occupant be deposited with Lender, or with an escrow agent satisfactory to Lender, subject to the rights of the lessee or occupant, but otherwise subject to a security interest in favor of Lender.

Regarding Leases. Except as otherwise provided in the Credit Agreement, Mortgagor shall not enter into any leases or occupancy agreements with respect to the Mortgaged Property and shall not modify or amend any such leases or occupancy agreements without Agent's prior written consent in each instance. As to all leases and occupancy agreements, Agent, at its option from time to time, may require that all security deposits and similar funds or security provided by a lessee or occupant be deposited with Agent, or with an escrow agent satisfactory to Agent, subject to the rights of the lessee or occupant, but otherwise subject to a security interest in favor of Agent.

Regarding Leases. Mortgagor shall not enter into any leases or occupancy agreements except in accordance with the terms and conditions of the Loan Agreement.

Regarding Leases. Except as otherwise provided in the Loan Agreement, Mortgagor shall not enter into any leases or occupancy agreements with respect to the Mortgaged Property and shall not modify or amend any such leases or occupancy agreements without Agent’s prior written consent in each instance. As to each permitted lease or occupancy agreement, Mortgagor will perform every material obligation of the lessor and, to the extent commercially reasonable, will enforce every material obligation of the lessee in the leases in effect with respect to all or any part or all of the Mortgaged Property and, except as otherwise provided in the Loan Agreement, Mortgagor will not: (i) cancel any Lease, nor terminate or accept a surrender thereof, or reduce the rent payable thereunder or alter, modify or amend any Lease; (ii) accept any prepayment of rent thereunder (except any rent which may be required to be prepaid by the terms of any such lease) more than one (1) month in advance of the time when the same shall be due; (iii) enter into any new leases, without first obtaining on each occasion the prior written consent of Agent; (iv) execute any assignment of Mortgagor’s interest in any Lease (other than the Collateral Assignment of Leases and Rents) or assignment of rents arising or accruing from any Lease or from the Mortgaged Property; (v) subordinate any Lease to any mortgage or other encumbrance, or permit, consent or agree to such subordination, without Agent’s prior written consent in each instance; (vi) convey or transfer or suffer or permit a conveyance or transfer of the premises demised by any Lease or of any interest therein so as to affect, directly or indirectly, a merger of the estates and rights, or a termination or diminution of the obligations, of any lessee thereunder; (vii) alter, modify or change the terms of any guaranty of any Lease, or any security for any Lease, or cancel or terminate any such guaranty, or release or reduce any such security, without the prior written consent of Agent in each instance; or (viii) consent to any assignment of, or subleasing under, any Lease (except in accordance with the terms of any Lease) without the prior written consent of Agent in each instance. As to all leases and occupancy agreements, Agent, at its option from time to time, may require that all security deposits and similar funds or security provided by a lessee or occupant be deposited with Agent, or with an escrow agent satisfactory to Agent, subject to the rights of t...