Approved Leases definition

Approved Leases means an executed Lease (as defined in the Security Documents) that is (A) approved by the Bank in its sole reasonable discretion prior to closing, or (B) a future executed lease, whether new or a renewal of an existing Lease, related to any space over 5,000 square feet which is approved by the Bank in its sole reasonable discretion as to: (i) form and content, (ii) creditworthiness of tenant and (iii) economic terms. The Bank shall have seven (7) business days to approve or disapprove of the applicable lease or it shall be deemed an Approved Lease. Any other lease shall be deemed an Approved Lease provided the applicable tenant is in occupancy, open and paying its contractual rent pursuant to its Lease. An Approved Lease shall cease to be an Approved Lease if the tenant thereunder vacates its leased space or has given notice of its intent to vacate within the following six (6) months, is insolvent or seeks bankruptcy protection (unless tenant shall re-affirm the lease in bankruptcy within three (3) months of such filing), or if a tenant under such Approved Lease is in default for non-payment of rent for more than ninety (90) days or if such Approved Lease has been terminated.

Approved Leases means all Leases (i) existing as of the date of this Agreement, (ii) approved by Administrative Agent, (iii) deemed approved by Administrative Agent, or (iv) entered into by Borrower that are not required to be approved by Administrative Agent.

Approved Leases means the Leases set forth on Schedule C annexed hereto and all Leases entered into after the date of this Agreement in accordance with Section 4.6 hereof.

Examples of Approved Leases in a sentence

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• Absent an uncured Event of Default, Mortgagee will release monies not more frequently than monthly from the escrow account for the payment of tenant improvements and leasing commissions related to Approved Leases.

• Any balance remaining in such account shall be released to Mortgagor after (i) all the space formerly occupied by Iron Mountain is occupied by tenants under Approved Leases or (ii) one or more tenants are occupying space in the Mortgaged Property under Approved Leases which will generate rental income for Mortgagor equal to, or greater than, that which is being received by Mortgagor under the Iron Mountain Lease as of the date hereof.

• The Approved Leases and Purchase/Option Agreements are in full force and effect, and are enforceable in accordance with their terms (subject to bankruptcy, insolvency, reorganization, or other laws affecting creditors’ rights generally and to principles of equity, regardless of whether considered in a proceeding in equity or at law).

• Furthermore, Borrower shall not allow changes in the stated overall use of the Property as a retail center without prior notice to, and prior written consent from, Lender (provided that Lender’s consent shall not be required for particular tenant uses under Approved Leases).

More Definitions of Approved Leases

Approved Leases shall have the meaning given to such term in Section 10.4

Approved Leases means collectively (i) the Leases, (ii) any ------------------- renewals or expansions of the Leases made pursuant to the terms of such Leases and (iii) any other renewal, expansion or new lease made by Seller after the Agreement Date with Buyer's approval as provided in Section 5.5(a)(ix) or for ---------- which Buyer's approval is not required under section 5.5(a)(ix). ----------

Approved Leases means leases to (i) existing tenants with a remaining term of at least three (3) years or (ii) approved new tenants with leases satisfactory to Mortgagee for terms of at least three (3) years, to commence not later than sixty (60) days following completion of restoration.

Approved Leases means a collective reference to those leases listed on Schedule 1.01(a) attached hereto.

Approved Leases means the leases as described in Annex 14.1.9 approved by the Purchasers but not entered into until 1 January 2015;

Approved Leases means all Leases executed by any Borrower in accordance with Section 10.1(i) hereof. Assignments of Rents: One or more assignments of leases and rents made by the Borrowers in favor of Lender assigning all leases, subleases and other agreements relating to the use and occupancy of all or any portion of the Projects, and all present and future leases, rents, issues and profits therefrom, as the same may be hereafter amended, restated, supplemented or otherwise modified pursuant to the terms thereof.

Approved Leases means collectively, the Leases and all Proposed Leases which become Approved Leases in accordance with the terms of SECTION 13.2 and 13.3 hereof.