The Ground Lease Sample Clauses

The Ground Lease. (a) With respect to each Ground Lease, Pledgor shall cause Mortgage Borrower to (i) pay all rents, additional rents and other sums required to be paid by Mortgage Borrower, as tenant under and pursuant to the provisions of each Ground Lease, (ii) diligently perform and observe all of the terms, covenants and conditions of each Ground Lease on the part of Mortgage Borrower, as tenant thereunder, (iii) promptly notify Lender of the giving of any notice by the landlord under the applicable Ground Lease to Mortgage Borrower of any default by Mortgage Borrower, as tenant thereunder, and deliver to Lender a true copy of each such notice within five (5) Business Days of receipt and (iv) promptly notify Lender of any bankruptcy, reorganization or insolvency of the landlord under the applicable Ground Lease or of any notice thereof, and deliver to Lender a true copy of such notice within five (5) Business Days of Pledgor’s receipt, together with copies of all notices, pleadings, schedules and similar matters received by Pledgor in connection with such bankruptcy, reorganization or insolvency within five (5) Business Days after receipt. Pledgor shall not, without the prior consent of Lender, (x) cause Mortgage Borrower to surrender the leasehold estate created by the applicable Ground Lease or terminate or cancel any Ground Lease or modify, change, supplement, alter or amend any Ground Lease, either orally or in writing, or (y) consent to, acquiesce in, or fail to object to, any attempt by any Fee Owner, as debtor in possession or by a trustee for such Fee Owner, to sell or transfer the Fee Estate with respect to any Ground Lease free and clear of the Ground Lease under section 363(f) of the Bankruptcy Code or otherwise. Pledgor shall cause Mortgage Borrower to object to any such attempt by such Fee Owner, as debtor in possession or by a trustee for such Fee Owner, to sell or transfer the Fee Estate with respect to any Ground Lease free and clear of the Ground Lease under section 363(f) of the Bankruptcy Code or otherwise, and in such event shall affirmatively assert and pursue its right to adequate protection under section 363(e) of the Bankruptcy Code. If Mortgage Borrower shall default in the performance or observance of any term, covenant or condition of any Ground Lease on the part of Mortgage Borrower, as tenant thereunder, and shall fail to cure the same prior to the expiration of any applicable cure period provided thereunder, Pledgor shall permit Lender to ...
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The Ground Lease. To the best of the Borrower's knowledge based upon the Mortgagor's representations and warranties with respect to each ground lease to which the Mortgaged Property is subject (a "Ground Lease"): (i) the Mortgagor is the owner of a valid and subsisting interest as tenant under the Ground Lease; (ii) the Ground Lease is unmodified and not supplemented by any writing or otherwise (other than as disclosed in the Servicing File) and is in full force and effect; (iii) all rent, additional rent and other charges reserved therein have been paid to the extent they are payable to the date hereof; (iv) the Mortgagor enjoys the quiet and peaceful possession of the estate demised thereby, subject to any sublease; (v) the Mortgagor is not in default under any of the terms thereof and there are no circumstances which, with the passage of time or the giving of notice or both, would constitute an event of default thereunder; (vii) the lessor under the Ground Lease is not in default under any of the terms or provisions thereof on the part of the lessor to be observed or performed; (vii) the lessor under the Ground Lease has satisfied all of its repair or construction obligations, if any, to date pursuant to the terms of the Ground Lease; and (ix) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, the Ground Lease.
The Ground Lease. Borrower shall (i) pay all rents, additional rents and other sums required to be paid by Borrower, as tenant under and pursuant to the provisions of the Ground Lease, (ii) diligently perform and observe all of the terms, covenants and conditions of the Ground Lease on the part of the Borrower, as tenant thereunder, and (iii) promptly notify Lender of the giving of any notice by ground lessor to Borrower of any default by Borrower, as tenant thereunder, and deliver to Lender a true copy of each such notice. Borrower shall not, without the prior consent of Lender, surrender the leasehold estate created by the Ground Lease or terminate or cancel the Ground Lease or modify, change, supplement, alter or amend the Ground Lease, in any respect, either orally or in writing. If Borrower shall default in the performance or observance of any term, covenant or condition of the Ground Lease, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act or take any action as may be appropriate to cause all of the terms, covenants and conditions of the Ground Lease on the part of Borrower to be performed or observed on behalf of Borrower, to the end that the rights of Borrower in, to and under the Ground Lease shall be kept unimpaired and free from default. Borrower shall exercise each individual option, if any, to extend or renew the term of the Ground Lease upon demand by Lender made at any time within one (1) year prior to the last day upon which any such option may be exercised.
The Ground Lease. The provisions of this Article 28 shall apply and be controlling notwithstanding anything to the contrary contained herein if Lessor owns its interest in the Land or Improvements through a ground or building lease. All of the terms of the lease or leases (if any) described in Exhibit "A" attached hereto (collectively referred to herein as the "GROUND LEASE") are hereby incorporated into and made a part of this Lease as if stated at length herein. The parties hereto agree that wherever the word "LAND" appears in this Lease, the same shall be deemed to mean the premises demised by the Ground Lease. Lessee shall have the benefit of each and every covenant and agreement made by the lessor under the Ground Lease ("GROUND LESSOR"), to Lessor under the Ground Lease and Lessee accepts this Lease subject to, all of the terms, covenants, conditions and agreements contained in the Ground Lease. In the event that the consent of the Ground Lessor is required in connection with the transactions contemplated by the Master Hotel Agreement and/or this Lease, and such consent has not been obtained effective as of the Commencement Date, then Lessor shall have the option to terminate this Lease, without payment of a Termination Fee or other premium or penalty, immediately (and effective as of the earliest date required to avoid any default under the Ground Lease by Lessor) upon (i) notice to Lessee that the Ground Lessor has declared Lessor to be in default under the Ground Lease and (ii) execution of a management agreement with Lessee (or its Manager, at Lessee's request) upon such terms as are required to provide Lessee (or Manager, as the case may be) with the same Net Economic Benefit (as defined in the Master Hotel Agreement) as would have this Lease in accordance with its terms, other than this sentence. Lessor shall pay directly to Ground Lessor all rent due from Lessor to Ground Lessor under the terms of the Ground Lease when due. In the event of conflicts between the terms of this Lease and the terms of the Ground Lease, the terms of the Ground Lease shall control. To the extent any of the provisions of the Ground Lease impose a greater obligation on Lessor than the corresponding provisions of this Lease, then Lessor shall be obligated to comply with the provisions of the Ground Lease (other than obligations for which Lessee is specifically responsible hereunder). To the extent any of the provisions of the Ground Lease impose a greater obligation on Lessee than the c...
The Ground Lease. Lessee acknowledges receipt of the Ground Lease and is familiar with the respective terms thereof. Lessee will, for the benefit of Lessor, perform all obligations, covenants and agreements to be performed by the lessee under the Ground Lease including without limitation the payment of all rent and other amounts due under such agreements during the term hereof and, as between Lessor and Lessee, Lessor shall have no responsibility for compliance with such obligations, covenants and agreements accruing during the term hereof. Lessee will at all times during the term hereof do all things necessary to perform all Ground Lessor’s obligations, covenants and agreements under the Ground Lease and will give Lessor notice of all defaults under the Ground Lease promptly after obtaining Actual Knowledge thereof. In addition to, and not in limitation of, Lessee’s obligations set forth elsewhere in this Lease during the term hereof, Lessee shall punctually pay and perform for the benefit of Lessor all of the obligations and liabilities whatsoever of Lessee or Lessor under any instrument that is a Permitted Lien including, without limitation, payment of indemnification of Lessor from and against all claims for which Lessor is liable thereunder during the term hereof. Lessee represents as of the date hereof that the Ground Lease is in full force and effect. ​ ​ ​ ​
The Ground Lease. (a) The provisions contained in this Deed of Trust shall be deemed to be obligations of Trustor in addition to Trustor's obligations as tenant with respect to similar matters under which Trustor is obligated under the Ground Lease and shall not restrict or limit Trustor's duties and obligations to keep and perform promptly all of its covenants, agreements and obligations as tenant under the Ground Lease.
The Ground Lease. Promptly after Mortgagor's receipt of any notice of any motion, application or effort to reject the Ground Lease by the Ground Lessor or any bankruptcy trustee arising from or in connection with any case, proceeding or other action commenced or pending by or against the Ground Lessor under the Federal Bankruptcy Code or any successor statutes, Mortgagor shall give notice thereof to Mortgagee. Mortgagor hereby (i) assigns to Mortgagee any and all of the Mortgagor's rights as lessee under Section 365(h) of the Bankruptcy Code or any successor statute, (ii) covenants that it shall not elect to treat the Ground Lease as terminated pursuant to Section 365(h) of the Federal Bankruptcy Code or any such successor statute without the prior written consent of Mortgagee, and (iii) agrees that any such election by the Mortgagor without such consent shall be null and void. Mortgagor hereby irrevocably appoints Mortgagee as its true and lawful attorney-in- fact, which power of attorney shall be coupled with an interest, for the purpose of exercising its rights pursuant to Section 365(h) of the Federal Bankruptcy Code or any successor to such Section (A) to obtain for the benefit of Mortgagor a right to possession or statutory term of years derived from or incident to the Ground Lease, or (B) to treat the Ground Lease as terminated (it being understood, however, that prior to the foreclosure of the Lien hereof in no event shall Mortgagee acting pursuant to such power of attorney elect to treat the Ground Lease as terminated without the prior written consent of Mortgagor).
The Ground Lease. (a) Borrower shall (i) pay all rents, ---------------- additional rents and other sums required to be paid by Borrower, as tenant under and pursuant to the provisions of the Ground Lease, (ii) diligently perform and observe all of the terms, covenants and conditions of the Ground Lease on the part of Borrower, as tenant thereunder, to be performed and observed, unless such performance or observance shall be waived or not required by the landlord under the Ground Lease ("Ground Lessor"), to the end that all things shall be done which are necessary to keep unimpaired the rights of Borrower, as tenant, under the Ground Lease, and (iii) promptly notify Lender of the giving of any notice by the Ground Lessor to Borrower of any of the terms, covenants or conditions of the Ground Lease on the part of Borrower, as tenant thereunder, to be performed or observed and deliver to Borrower a true copy of each such notice.
The Ground Lease. 1. A copy of the Ground Lease (which term shall also include the Primary Lease identified in the Ground Lease) is attached hereto and marked Exhibit "C."