Tenant Redirect Letters means, collectively, letters, in the form attached as Exhibit A to the Cash Management Agreement, and otherwise in a form and substance satisfactory to Lender, addressed to each tenant of the Project (and any new tenants with whom Borrower enters into leases after the date hereof for space at the Project in accordance with the Loan Documents) executed by Borrower, which letters shall require each tenant to deliver its respective rent (and all other sums owed by such tenant to Borrower under the applicable Lease) in accordance with the instructions contained in such letters to the Collection Account established and controlled by Lender to be held by Lender in accordance with Section 3.3 of this Agreement.
Lender is hereby authorized to deliver such Tenant Redirect Letters to the tenants at the Property upon the occurrence of an Event of Default.
Lender agrees to terminate such Tenant Redirect Letters on written request by Borrower after repayment of the Loan and all obligations secured by the Mortgages.
Borrower hereby agrees that Borrower (i) shall execute the Tenant Redirect Letters addressed to each existing tenant on the Effective Date and to each future tenant executing an approved Lease subsequent to the Effective Date and (ii) shall, upon execution thereof, deliver such Tenant Redirect Letters to Lender.
Borrower hereby agrees that Borrower shall execute the Tenant Redirect Letters addressed to each existing (if any) and future tenant.
Lender agrees to execute and deliver letters to the tenants terminating such Tenant Redirect Letters on written request by Borrower after repayment of the Loan and all obligations secured by the Deed of Trust.