Tenant Estoppels. Notwithstanding anything contained in Section 6.2 of the Agreement to the contrary, Seller will use good faith efforts to obtain either (collectively, the "New Estoppel Requirement"): (i) an Estoppel Certificate substantially in the form attached hereto as Exhibit "C" or (ii) a reliance letter substantially in the form attached hereto as Exhibit "D" from (A) each of (i) Japan Inn, (ii) Brasero Grill, (iii) East City Grill, (iv) Xxxxxxxxxx'x Pizzeria, (v) Tarpon Bend Restaurant, (vi) Wild Hare and (vii) Swig (collectively, the "Estoppel Tenants"), (B) Publix substantially in the form attached to this First Amendment as Exhibit "G" and (C) tenants representing (in combination with the other estoppel certificates) no less than ninety percent (90%) of the total space and rental income of the Property (Purchaser and Seller acknowledge and agree that the new estoppel certificate or reliance letter obtained from the Estoppel Tenants will be included in, and count towards, achieving the ninety percent (90%) requirement described herein). All Estoppel Certificates which are dated within sixty (60) days of the date of the closing will be accepted and counted toward achieving the ninety percent (90%) requirement described herein and will be accepted by Column. If the New Estoppel Requirement is not achieved, Seller will not be in default under the Agreement or this Amendment, and Purchaser will, at Purchaser's option, elect, prior to the extended Closing Date set forth in Section 2 above, either to: (i) terminate the Agreement and the parties hereto will be relieved of any further liability arising out of or from the Agreement and this Amendment (except for the obligations thereunder and hereunder specifically designated as surviving such termination) and the Deposits and accrued interest will be returned to Purchaser, or (ii) proceed to Closing without any reduction in the Purchase Price. Seller expressly disclaims making any express or implied representation, warranty, or guaranty whatsoever with regard to any of the information contained in the Estoppel Certificates or reliance letters. Notwithstanding anything contained herein or in the Agreement to the contrary, Purchaser acknowledges and agrees that the deletions in the Estoppel Certificate and the Subordination, Non-Disturbance and Attornment Agreement made by M Squared Enterprises, LLC (d/b/a SWIG) will not render the Estoppel Certificate or the SNDA issued thereby ineffectual for purposes of satisfying the N...
Tenant Estoppels. (a) Each Seller shall prepare and deliver to each Tenant at such Seller’s Property an estoppel certificate in the form of Exhibit A attached hereto (the “Tenant Estoppel”) and request each such Tenant to execute and deliver the Tenant Estoppel to such Seller. Each Seller shall use commercially reasonable efforts to obtain the prompt return of the executed Tenant Estoppels in substantially the same form as Exhibit A attached hereto from each Tenant at such Seller’s Property prior to the Closing, without the obligation to make any payments or grant any concessions under the Leases. If a Tenant returns an executed Tenant Estoppel (or Lease Required Estoppel or Statement of Lease as defined below) to such Seller, such Seller shall promptly deliver to the Buyer, or make available on Seller’s transaction website, a copy of such executed Tenant Estoppel (or Lease Required Estoppel or Statement of Lease, if applicable) following such Seller’s receipt of such Tenant Estoppel (or Lease Required Estoppel or Statement of Lease, if applicable).
Tenant Estoppels. Borrower shall exercise reasonable commercial efforts to deliver estoppel letters from Tenants occupying not less than eighty percent (80%) of the gross leasable area of the Property; provided, however, that, in the event that Borrower is unable to deliver some or all of the estoppels described above in this Section 3.1.11, Lender agrees that the requirement to deliver such letters to Lender shall be waived by Lender as a condition precedent to the closing of the Loan so long as Borrower delivers on or before the Closing Date, a certificate executed by Borrower with respect to all applicable leases which shall be in substantially the same form and contain the same terms as set forth in Lender's standard form of estoppel certificate. Borrower shall deliver to Lender an estoppel letter executed by Anchor Tenant in form reasonably acceptable to Lender.
Tenant Estoppels. Lender shall have received an executed tenant estoppel letter, which shall be in form and substance satisfactory to Lender, from each tenant of a Property.
Tenant Estoppels. FWRLP shall have received (A) a tenant estoppel letter in the form attached hereto as Exhibit F from, at a minimum, those tenants at the Property satisfying the requirements described on Exhibit F-1 attached hereto (or in such form as required by the Lender), confirming the information set forth in the Leases and Rent Schedule attached hereto as Exhibit B for such tenants and containing no material changes therefrom, and (B) any subordination and attornment agreements required by the Lender.
Tenant Estoppels. Lender shall have received an executed tenant estoppel letter, which shall be in form and substance satisfactory to Lender, from (a) each tenant occupying ten percent (10%) of more of the gross leasable area of the Property, (b) each tenant leasing an entire building at the Property, (c) each tenant paying base rent in an amount equal to or exceeding five percent (5%) of the Gross Income from Operations from the Property occupied by such tenant and (d) including the area leased by those described in clauses (a), (b) and (c), lessees of not less than seventy-five percent (75%) of the gross leasable area of the Property.
Tenant Estoppels. At Lender’s request, Borrower shall use commercially reasonable efforts to obtain and furnish to Lender written estoppels in form and substance satisfactory to Lender, executed by tenants under commercial Leases in the Project and confirming the term, rent and other provisions and matters relating to the Leases.
Tenant Estoppels. Lender shall have received an executed tenant estoppel letter, which shall be in form and substance satisfactory to Lender, from (a) each Anchor Tenant, (b) each Tenant paying base rent in an amount equal to or exceeding five percent (5%) of the Operating Income from the applicable Collateral Property occupied by such Tenant and (c) disregarding the area leased by those described in clauses (a) and (b), lessees of not less than seventy-five percent (75%) of the remaining gross leasable area of each Collateral Property.
Tenant Estoppels. Seller will use commercially reasonable efforts to obtain and deliver to Purchaser estoppel certificates from the Tenants identified on Schedule 6.3 and at Seller's discretion Seller may obtain other estoppel certificates. Each estoppel certificate will be in the form of Exhibit 6.3-1 or in the form prescribed in the applicable Tenant's Lease. If any Tenant identified on Schedule 6.3 fails to deliver an estoppel certificate before Closing, Seller will deliver an estoppel certificate in the form of Exhibit 6.3-2 in respect of that Tenant's Lease at Closing. If Seller obtains an estoppel certificate from any Tenants, Seller's representations and warranties made in Sections 4.5(b), (d) and (e) will terminate and be null and void with respect to all matters represented by such Tenant in such estoppel certificate that relate to the applicable Tenants if such certificates contain no exceptions noted by the Tenant, and if such estoppel certificate contains exceptions noted by the Tenant then such representations and warranties will terminate and be null and void only with respect to those matters represented that relate to the applicable Tenant and that are confirmed without exception by such estoppel certificate, and if the matter to which the Tenant takes exception in the estoppel certificate is not a matter already covered by a Seller representation in Sections 4.5(b), (d) and (e) and is a matter included in the form of Seller estoppel attached as Exhibit 6.3-2, then Seller may but shall not be required to deliver a Seller estoppel with respect to such Tenant for the excepted matter. If the Tenant estoppel includes exceptions and Seller elects not to deliver a Seller estoppel with respect to such Tenant for the excepted matter then such exception shall be considered in determining the occurrence of a Seller Material Adverse Event pursuant to clause (iv) of the definition thereof. If Seller provides an estoppel certificate in respect of any Tenant's Lease and the Tenant delivers an estoppel certificate after Closing, Seller's estoppel certificate in respect of that Lease will be null and void as if the Seller estoppel certificate had not been delivered at Closing if the estoppel certificate from the Tenant contains no exceptions noted by the Tenant, or if such estoppel certificate contains exceptions noted by the Tenant, then the Seller's estoppel certificate will be null and void only with respect to those matters represented that are confirmed without excepti...
Tenant Estoppels. (a) Seller shall obtain a Tenant Estoppel from Caracol 2 prior to Closing, to be dated concurrently with the Caracol 2 Lease Amendment. Promptly upon Xxxxxx’s receipt of the Tenant Estoppel from Caracol 2, Seller shall deliver to Purchaser the Tenant Estoppel received by Seller. The parties acknowledge and agree that the Qualifying Tenant Estoppel for Caracol 2 shall confirm the agreed-upon terms set forth in Paragraph 13 of Exhibit F, notwithstanding anything to the contrary in the Caracol 2 Lease, and which Purchaser agrees to accept. Within two (2) days of Purchaser’s receipt of the Tenant Estoppel, Purchaser shall notify Seller whether such Tenant Estoppel is approved by Purchaser as a Qualified Tenant Estoppel, and if applicable shall provide in any such notice to Seller the basis for any disapproval. Purchaser agrees not to object to any nonmaterial qualifications or modifications which a Tenant may make to the form of Tenant Estoppel; provided, however, that a variance regarding the term of more than 30 days, a discrepancy in rent of more than 1% and any difference as to the terms and conditions of termination rights shall not be considered nonmaterial. Purchaser’s failure to give such notice within such two (2) day period shall be deemed to constitute Purchaser’s acceptance and approval of such Tenant Estoppel. In no event shall Seller’s failure to deliver to Purchaser any of the Tenant Estoppels or to satisfy the Tenant Estoppel Requirement be deemed to be a default by Seller under this Agreement. (b) Notwithstanding any other provisions hereof, Seller shall have the right to extend the Closing Date for up to ten (10) business days, by delivering written notice of such election to Purchaser not less than three (3) days prior to the scheduled Closing, in order to provide for the delivery of the Tenant Estoppel set forth in this Section. If the Tenant Estoppel Requirement is not satisfied at least three (3) days prior to the Closing Date, as the same may be extended by Seller pursuant to this Section, then Purchaser may, at its option, in its sole and absolute discretion, elect in writing to (x) terminate this Agreement upon written notice to Seller and Escrow Agent, in which event Seller shall promptly return the Deposit to Purchaser by wire transfer (in accordance with the wire transfer instructions provided by Purchaser) and both Seller and Purchaser shall thereafter be released from all further obligations under this Agreement, except those spec...
