Ground Lessor definition
Examples of Ground Lessor in a sentence
If any Ground Lessor shall deliver to Administrative Agent a copy of any notice of default under a Ground Lease, Administrative Agent shall have the right to rely upon such notice and shall be fully protected in acting (or refraining from acting) on the information contained therein.
At Administrative Agent’s request, each Borrower that is party to a Ground Lease shall obtain and furnish to Administrative Agent, a written estoppel in form and substance reasonably satisfactory to Administrative Agent, executed by each Ground Lessor and confirming the term, rent, and other provisions and matters relating to its respective Ground Lease.
Each Borrower that is party to a Ground Lease, at its expense, will enforce, in a manner consistent with commercially reasonable practices for leases comparable to the Ground Leases, the material performance by Ground Lessor of Ground Lessor’s obligations under or related to such Ground Lease.