Common use of Leasing of the Property Clause in Contracts

Leasing of the Property. If Seller desires to enter into (i) any new leases for the Property (a "New Lease"); or (ii) a renewal, extension or expansion of any existing Leases for the Property (other than renewals, extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective Date, under existing Leases) (a "Renewal") or (iii) any other amendment or modification to a Lease (the "Amendment"), Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy of the proposed New Lease, Renewal or Amendment, and shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not enter into any New Lease, Renewal or Amendment without Purchaser’s prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendment. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this Section.

Leasing of the Property. If Seller desires Prior to enter into (i) the execution of any new leases Leases for the Property (a "New Lease"); or (ii) a the renewal, modification or extension or expansion of any existing Leases for the Property Property, such Seller shall give notice of its intent to do so to Purchaser. Such notice shall include the amount WRIT Industrial III of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods or other than renewalsconcessions), the amount of any Leasing Commission, any TI Obligations, and a copy of the form of Lease, Lease amendment or other document to be executed. Purchaser shall have five (5) days after receipt of such notice to notify such Seller of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease. Such Seller shall not enter into any new Lease or any modification, extension or renewal of any existing Lease without Purchaser’s prior written consent, which consent may be granted or withheld in Purchaser’s sole discretion. Purchaser’s failure to object to a proposed Lease or the modification, extension or renewal of any existing Lease within the five (5)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective DateJune 27, 2011, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions, modifications or renewals of Leases (if any) listed on Exhibit “D-1” have been approved by Purchaser. Nothing in this Agreement shall be interpreted to require any Seller to lease any additional space in its Property as a "Renewal") or (iii) any other amendment or modification condition to a Lease (the "Amendment")sale of such Property, Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy and none of the proposed New Lease, Renewal or Amendment, and Sellers shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including have any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not obligation to enter into or to seek any New Lease, Renewal or Amendment without Purchaser’s Leases for its Property prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendment. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this SectionClosing Date.

Leasing of the Property. If Seller desires Prior to enter into (i) the execution of any new leases Leases for the Property (a "New Lease"); or (ii) a the renewal, modification or extension or expansion of any existing Leases for the Property Property, such Seller shall give notice of its intent to do so to Purchaser. Such notice shall include the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods or other than renewalsconcessions), the amount of any Leasing Commission, any TI Obligations, and a copy of the form of Lease, Lease amendment or other document to be executed. Purchaser shall have five (5) days after receipt of such notice to notify such Seller of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease. Such Seller shall not enter into any new Lease or any modification, extension or renewal of any existing Lease without Purchaser’s prior written consent, which consent may be granted or withheld in Purchaser’s sole discretion. Purchaser’s failure to object to a proposed Lease or the modification, extension or renewal of any existing Lease within the five (5)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective DateJune 27, 2011, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions, modifications or renewals of Leases (if any) listed on Exhibit “D-1” have been approved by Purchaser. Nothing in this Agreement shall be interpreted to require any Seller to lease any additional space in its Property as a "Renewal") or (iii) any other amendment or modification condition to a Lease (the "Amendment")sale of such Property, Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy and none of the proposed New Lease, Renewal or Amendment, and Sellers shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including have any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not obligation to enter into or to seek any New Lease, Renewal or Amendment without Purchaser’s Leases for its Property prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendment. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this SectionClosing Date.

Leasing of the Property. If Seller desires Prior to enter into (i) the execution of any new leases Leases for the Property (a "New Lease"); or (ii) a the renewal, modification or extension or expansion of any existing Leases for the Property Property, such Seller shall give notice of its intent to do so to Purchaser. Such notice shall include the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods or other than renewalsconcessions), the amount of any Leasing Commission, any TI Obligations, and a copy of the form of Lease, Lease amendment or other document to be executed. Purchaser shall have five (5) days after receipt of such notice to notify such Seller of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease. Such Seller shall not enter into any new Lease or any modification, extension or renewal of any existing Lease without Purchaser’s prior written consent, which consent may be granted or withheld in Purchaser’s sole discretion. Purchaser’s failure to object to a proposed Lease or the modification, extension or renewal of any existing Lease within the five (5)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective DateJune 27, 2011, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions, modifications or renewals of Leases (if any) listed on Exhibit “D-1” have been approved by Purchaser. Nothing in this Agreement shall be interpreted to require any Seller to lease any additional space in its Property as a "Renewal") or (iii) any other amendment or modification condition to a Lease (the "Amendment")sale of such Property, Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy and none of the proposed New Lease, Renewal or Amendment, and Sellers shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including have any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not obligation to enter into or to seek any New Lease, Renewal or Amendment without Purchaser’s Leases for its Property prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or AmendmentClosing Date. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this Section.WRIT Industrial I

Leasing of the Property. If Seller desires Prior to enter into (i) the execution of any new leases Leases for the Property (a "New Lease"); or (ii) a the renewal, modification or extension or expansion of any existing Leases for the Property Property, such Seller shall give notice of its intent to do so to Purchaser. Such notice shall include the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods or other than renewalsconcessions), the amount of any Leasing Commission, any TI Obligations, and a copy of the form of Lease, Lease amendment or other document to be executed. Purchaser shall have five (5) days after receipt of such notice to notify such Seller of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease. Such Seller shall not enter into any new Lease or any modification, extension or renewal of any existing Lease without Purchaser’s prior written consent, which consent may be granted or withheld in Purchaser’s sole discretion. Purchaser’s failure to object to a proposed Lease or the modification, extension or renewal of any existing Lease within the five (5)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective DateJune 27, 2011, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions, modifications or renewals of Leases (if any) listed on Exhibit “D-1” have been approved by Purchaser. Nothing in this Agreement shall be interpreted to require any Seller to lease any additional space in its Property as a "Renewal") or (iii) any other amendment or modification condition to a Lease (the "Amendment")sale of such Property, Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy and none of the proposed New Lease, Renewal or Amendment, and Sellers shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including have any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not obligation to enter into or to seek any New Lease, Renewal or Amendment without Purchaser’s Leases for its Property prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or AmendmentClosing Date. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this Section.WRIT Industrial II

Leasing of the Property. If Seller desires to enter into (i) any new leases for the Property (a "“New Lease"”); or (ii) a renewal, extension or expansion of any existing Leases for the Property (other than renewals, extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective Date, under existing Leases) (a "“Renewal"”) or (iii) any other amendment or modification to a Lease (the "“Amendment"”), Seller shall give Purchaser prior written notice (the "“Lease Activity Notice"”) of its desire to do so. The Lease Activity Notice shall include a copy of the proposed New Lease, Renewal or Amendment, and shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not enter into any New Lease, Renewal or Amendment without Purchaser’s prior written approval. , which may be granted or withheld in Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendmentsole discretion. As used in this Agreement, the term "“Approved Leases" ” refers collectively to (i) any New Lease, Renewal or Amendment, Amendment which is approved by Purchaser pursuant to this Section; and (ii) the Second Amendment.

Leasing of the Property. If From and after the Effective Date, Seller desires to shall not (a) enter into (i) any new leases Leases for the Property Property, (a "New Lease"); b) amend, renew, extend, accept the surrender of or (ii) a renewal, extension or expansion of otherwise modify any existing Leases for the Property (other than renewalsProperty, extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective Date, under existing Leases) (a "Renewal") or (iiic) consent to any other amendment sublease or modification to a Lease (assignment under any Lease, in each case, without the "Amendment")prior written approval of Purchaser, which may be given or withheld in Purchaser’s sole and absolute direction. Seller shall give notice to Purchaser prior written notice (the "Lease Activity Notice") of its desire request to do so. The enter into a new Lease Activity Notice (or any modifications, amendments, supplements and/or terminations), which notice shall include a copy of the proposed New Lease, Renewal or Amendment, and shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periodsperiods or other concessions), the amount of any leasing commissionLeasing Commission, tenant improvement obligations any TI Obligations, and any “non-standard” provisions a copy of the form of Lease, Lease amendment or other document to be executed. Further, after the Effective Date, Seller shall promptly notify Purchaser of any material correspondence received from or sent to Tenants regarding the Leases. Purchaser shall have ten (10) days after receipt of such notice to notify such Seller of its objections, if any, to any such proposed New Lease amendment, modification, supplement, termination or extension or renewal of any existing Lease or Renewal sublease or Amendment. Seller shall not enter into any New Lease, Renewal or Amendment without Purchaser’s prior written approvalassignment. Purchaser’s failure to object to a proposed Lease or the modification, termination, extension or renewal of any existing Lease within the ten (10)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing Purchaser’s consent shall not be unreasonably withheldrequired for new Leases and renewals or extensions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options under existing Leases. Nothing in this Agreement shall be interpreted to require any Seller to lease any additional space in its Property as a condition to the sale of such Property, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in and none of the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) Sellers shall have any material adverse effect on Purchaser, legal obligation to enter into or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted seek any Leases for its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections Property prior to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendment. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this SectionClosing Date.

Leasing of the Property. If Seller desires Prior to enter into (i) the execution of any new leases Leases for the Property (a "New Lease"); or (ii) a the renewal, modification or extension or expansion of any existing Leases for the Property Property, Seller shall give notice of its intent to do so to Purchaser. Such notice shall include the amount of WRIT Industrial IV space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods or other than renewalsconcessions), the amount of any Leasing Commission, any TI Obligations, and a copy of the form of Lease, Lease amendment or other document to be executed. Purchaser shall have five (5) days after receipt of such notice to notify Seller of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease. Seller shall not enter into any new Lease or any modification, extension or renewal of any existing Lease without Purchaser’s prior written consent, which consent may be granted or withheld in Purchaser’s sole discretion. Purchaser’s failure to object to a proposed Lease or the modification, extension or renewal of any existing Lease within the five (5)-day period described above shall be deemed an approval by Purchaser. Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective DateJune 27, 2011, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions, modifications or renewals of Leases (if any) listed on Exhibit “D-1” have been approved by Purchaser. Nothing in this Agreement shall be interpreted to require Seller to lease any additional space in its Property as a "Renewal") or (iii) any other amendment or modification condition to a Lease (the "Amendment"), Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy sale of the proposed New Lease, Renewal or AmendmentProperty, and shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not have any obligation to enter into or to seek any New Lease, Renewal or Amendment without Purchaser’s Leases for the Property prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendment. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this SectionClosing Date.