Common use of Standard Lease Form; Security Deposits Clause in Contracts

Standard Lease Form; Security Deposits. All Leases entered into after the date hereof (other than renewals of existing Tenants) shall be initially delivered to prospective Tenants on a standard written lease form approved by Lender. Such lease form and each new sublease at the Property shall provide that the Tenant shall attorn to Lender. No Lease or Lease guaranty may contain any option or right of first refusal to purchase all or any portion of the Property or any present or future interest therein. Borrower shall hold, in trust, all Tenant security deposits in a segregated account, and, to the extent required by Applicable Law, shall not commingle any such funds with any other funds of Borrower. Within ten (10) Business Days after Xxxxxx’s request, Borrower shall furnish to Lender a statement of all Tenant security deposits, and copies of all Leases not previously delivered to Lender, certified by Borrower as being true, correct and complete. Further, after the occurrence of an Event of Default, within ten (10) Business Days after Xxxxxx’s demand therefor, Borrower will deliver all security deposits to or as directed by Xxxxxx, which security deposits will be held by Lender or its designee in accordance with the terms of the respective Leases to which such security deposits apply.

Standard Lease Form; Security Deposits. All Leases entered into after the date hereof (other than renewals of existing Tenants) shall be initially delivered to prospective Tenants on a standard written lease form approved by LenderAdministrative Agent. Such lease form and each new sublease at the Property shall provide that the Tenant shall attorn to LenderAdministrative Agent for the benefit of itself and the Lenders. No Lease or Lease guaranty may contain any option or right of first refusal to purchase all or any portion of the Property or any present or future interest therein. Borrower shall hold, in trust, all Tenant security deposits in a segregated account, and, to the extent required by Applicable Law, shall not commingle any such funds with any other funds of Borrower. Within ten (10) Business Days after XxxxxxAdministrative Agent’s request, Borrower shall furnish to Lender Administrative Agent a statement of all Tenant security deposits, and copies of all Leases not previously delivered to LenderAdministrative Agent, certified by Borrower as being true, correct and complete. Further, after the occurrence of an Event of Default, within ten (10) Business Days after XxxxxxAdministrative Agent’s demand therefor, Borrower will deliver all security deposits to or as directed by XxxxxxAdministrative Agent, which security deposits will be held by Lender Administrative Agent or its designee in accordance with the terms of the respective Leases to which such security deposits apply.

Standard Lease Form; Security Deposits. All Leases entered into after the date hereof (other than renewals of existing Tenants) shall be initially delivered to prospective Tenants on a standard written lease form approved by Lender. Such lease form and each new sublease at the Property shall provide that the Tenant shall attorn to Lender. No Lease or Lease guaranty may contain any option or right of first refusal to purchase all or any portion of the Property or any present or future interest therein. Borrower shall hold, in trust, all Tenant security deposits in a segregated account, and, to the extent required by Applicable Law, shall not commingle any such funds with any other funds of Borrower. Within ten (10) Business Days after XxxxxxLender’s request, Borrower shall furnish to Lender a statement of all Tenant security deposits, and copies of all Leases not previously delivered to Lender, certified by Borrower as being true, correct and complete. Further, after the occurrence of an Event of Default, within ten (10) Business Days after XxxxxxLender’s demand therefor, Borrower will deliver all security deposits to or as directed by XxxxxxLender, which security deposits will be held by Lender or its designee in accordance with the terms of the respective Leases to which such security deposits apply.