Ground Lease Provisions. (a) The Ground Lease is in full force and effect has not been amended and represents the entire agreement between Borrower and Ground Lessor and there are no defaults, events of default or events which with the passage of time or the giving of notice, would constitute a default or event of default under the Ground Lease.
Ground Lease Provisions. Notwithstanding any other provision of this Agreement or any other Loan Document to the contrary, Borrower hereby warrants, covenants, represents and agrees as to the Ground Lease as follows:
Ground Lease Provisions. With respect to each Ground Lease:
Ground Lease Provisions. Lessee understands and acknowledges that its obligations hereunder shall at all times remain in full force and effect and shall in no way be affected by (i) the renewal of the Ground Lease, (ii) the termination of the Ground Lease prior to the expiration hereof or (iii) the purchase of the fee simple title to the Land by Lessor.
Ground Lease Provisions. (a) Borrower will: (i) pay the rent reserved by the Ground Lease as the same becomes due and payable; (ii) promptly perform and observe all of the covenants, agreements, obligations and conditions required to be performed and observed by the Borrower under the Ground Lease, and do all things necessary to preserve and keep unimpaired its rights thereunder; (iii) promptly notify Lender in writing of the commencement of a proceeding under the federal bankruptcy laws by or against Borrower or the ground lessor under the Ground Lease; (iv) if any of the indebtedness secured by the Security Instrument remains unpaid at the time when notice may be given by the Borrower under the Ground Lease of the exercise of any right to renew or extend the term of the Ground Lease, promptly give notice to the ground lessor of the exercise of such right of extension or renewal; (v) in case any proceeds of insurance upon the Property or any part thereof are deposited with any person other than Lender, promptly notify Lender in writing of the name and address of the person with whom such proceeds have been deposited and the amount so deposited; (vi) promptly notify the Lender in writing of the receipt by the Borrower of any notice (other than notices customarily sent on a regular periodic basis) from the ground lessor under the Ground Lease and of any notice noting or claiming any default by the Borrower in the performance or observance of any of the terms, covenants, or conditions on the part of the Borrower to be performed or observed under the Ground Lease; (vii) promptly notify the Lender in writing of the receipt by the Borrower of any notice from the ground lessor of any termination of the Ground Lease pursuant to the provisions of the Ground Lease; (viii) promptly cause a copy of each such notice received by the Borrower from the ground lessor under the Ground Lease to be delivered to the Lender, and (ix) promptly notify Lender in writing of any request made by either party to the Ground Lease to the other party thereto for arbitration or appraisal proceedings pursuant to the Ground Lease, and of the institution of any arbitration or appraisal proceedings and promptly deliver to Lender a copy of the determination of the arbitrators or appraisers in each such proceeding.
Ground Lease Provisions. The term of the Ground Lease is 55 years from the Initial Lease Date. The initial rent payable by Grantee as tenant under the Ground Lease shall be $100,000. The rent payable by Grantee as tenant under the Ground Lease is $10,000 per year, with a 3% annual inflation adjustment, subject to adjustment by Grantor after the 15-year compliance period as set forth in the Memorandum of Understanding. The Ground Lease shall be in the standard form of ground lease generally used by Grantor with such modifications as required by Grantor in its sole discretion.
Ground Lease Provisions. The terms and conditions contained in Exhibit B attached hereto are hereby made a part hereof.
Ground Lease Provisions. (a) Grantor covenants and agrees specifically with respect to each Ground Lease and the leasehold estate created thereunder that, subject to the restrictions on any of the following actions contained in any Lease and the Grantor's ability to enforce the Leases in a commercially reasonable manner, Grantor shall maintain the Ground Lease in full force and effect and not take or allow to be taken any action that would terminate or cancel, or permit the termination or cancellation of, the Ground Lease without the prior written consent of Mortgagee and the Required Lenders, which consents shall not be unreasonably withheld. Notwithstanding the foregoing, the obligation of Grantor to perform the covenants and agreements set forth in this Section 25(a) shall be no greater than the obligations of Grantor set forth in the Credit Agreement.
Ground Lease Provisions. Section 17.1 GROUND LEASE (a) The provisions of Sections 3.1.39 and 4.1.23 of the Loan Agreement are hereby incorporated by reference into this Security Instrument to the same extent and with the same force as if fully set forth herein.
Ground Lease Provisions. (a) If the Ground Lease terminates or Tenant incurs any liabilities, costs or expenses as a result of a default or breach of Landlord under the Ground Lease (not due because of the negligence or willful acts of Tenant, its agents, servants or employees), then (i) Landlord shall indemnify and hold harmless Tenant from and against all damages, costs, and expenses suffered by Tenant and arising out of such termination, default or breach, in the manner provided in Section 16.1(b) hereof and in addition, (ii) Tenant shall have such self-help rights set forth in Section 26.18(b). Landlord covenants not to commit or suffer any act or omission that will breach or cause a default under the Ground Lease.
