Waiver of Interest In New Ground Lease. In the event a Ground Lease shall be terminated by reason of a default thereunder by the Ground Lessee and Administrative Agent shall require from Fee Owner a new ground lease, Borrower hereby waives and shall cause such Ground Lessee to waive any right, title and interest in and to such new Ground Lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 3 contracts
Samples: Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotels & Resorts, Inc)
Waiver of Interest In New Ground Lease. In the event a the Ground Lease shall be terminated by reason of a default thereunder by the Ground Lessee Borrower and Administrative Agent Lender shall require from the applicable Fee Owner a new ground lease, Borrower hereby waives and shall cause such Ground Lessee to waive any right, title and interest in and to such new Ground Lease ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 2 contracts
Samples: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (American Financial Realty Trust)
Waiver of Interest In New Ground Lease. In the event a any of the Ground Lease Leases shall be terminated by reason of a default thereunder by the Ground Lessee Borrower and Administrative Agent Lender shall require from that the related Fee Owner enter into a new ground lease, Borrower hereby waives and shall cause such Ground Lessee to waive any right, title and interest in and to such new Ground Lease ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 2 contracts
Samples: Loan and Security Agreement (Station Casinos Inc), Loan and Security Agreement (Station Casinos Inc)
Waiver of Interest In New Ground Lease. In the event a the Ground Lease shall be terminated by reason of a default thereunder by the Ground Lessee Borrower and Administrative Agent Lender shall require from Fee Owner a new ground lease, Borrower hereby waives and shall cause such Ground Lessee to waive any right, title and interest in and to such new Ground Lease ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 1 contract
Samples: Loan and Security Agreement (CNL Hotels & Resorts, Inc.)
Waiver of Interest In New Ground Lease. In the event a the Ground Lease shall be terminated by reason of a default thereunder by the Ground Lessee Leasehold Holder and Administrative Agent shall require from that the Ground Lease Fee Owner enter into a new ground lease, Borrower hereby waives and shall cause such Ground Lessee to each Loan Party shall, if Administrative Agent so requires, waive any right, title and interest in and to such new Ground Lease ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law, to the extent permitted by applicable law.
Appears in 1 contract
