None of the Borrowers shall cause or permit any new Lease, or any amendment, renewal or expansion of any existing Leases (except for renewals or expansions of Major Leases pursuant to renewal or expansion options expressly contained in the Major Leases that have been Approved by the Agent in accordance with this Agreement), with respect to any Property to be executed after the date hereof without the prior Approval of the Agent (provided, however, that # if such Lease is not a Major Lease and # if the terms of the Lease or the amendment or expansion thereof # are such as will not cause it to become a Major Lease, # conform to the Minimum Leasing Guidelines and # comply with the remainder of this Section, then the Borrowers shall be permitted to enter into the same without the Agent’s prior Approval), nor shall any Borrower consent to the assignment of any Lease or subletting by any Tenant under a Lease, or grant any consent, approval or waiver under or in respect of any Lease, in each case without the prior Approval of the Agent. To the extent the Agent’s written approval is required pursuant to this [Section 5.1.19], the Borrowers’ written request therefor shall be delivered together with such materials reasonably requested by the Agent in order to evaluate such request (it being acknowledged and agreed that no request for consent shall be effective unless and until such materials have been delivered to the Agent and shall conspicuously state, in large bold type, that “PURSUANT TO SECTION 5.1.19 OF THE LOAN AGREEMENT, THIS IS THE BORROWERS’ REQUEST FOR the Agent’S CONSENT. THE AGENT’S RESPONSE IS REQUESTED WITHIN SEVEN # BUSINESS DAYS. THE LEASE SHALL BE DEEMED APPROVED IF THE AGENT DOES NOT RESPOND TO THE CONTRARY WITHIN SEVEN # BUSINESS DAYS OF THE AGENT’S RECEIPT OF THIS WRITTEN NOTICE.”). In the event the Agent fails to approve or disapprove such request (or fails to deliver notice that additional materials are being reasonably requested) within seven (7) Business Days of the effective date of such request, then the Agent’s consent shall be deemed to have been granted. The Borrowers shall furnish the Agent with executed copies of all Leases and all amendments, renewals and expansions thereof promptly upon effectiveness thereof. All proposed Leases executed after the date hereof shall provide that they are subordinate to the related Mortgage and that the lessee agrees, upon request, to attorn to the Agent or any purchaser at a sale by foreclosure or power of sale, and that neither the Agent nor any such purchaser shall be liable for any tenant improvement costs or other obligations of any Borrower or other predecessor-in-interest, nor shall the Agent or any such purchaser be responsible for any defaults by any Borrower or other predecessor-in-interest or be bound by any amendments, modifications or supplements of any Lease made without the Agent’s prior Approval (if such prior Approval is required pursuant to the Loan Documents). Each Borrower # shall observe and perform, or cause to be performed, the obligations imposed upon the lessor under the Leases; # shall enforce the terms, covenants and conditions contained in the Leases upon the part of the lessee thereunder to be observed or performed; provided that none of the Borrowers shall terminate or accept a surrender of any Lease or take any action that would permit any Tenant under a Lease to terminate its Lease with respect to, or otherwise surrender, all or any portion of its premises, or recapture all or any portion of a Tenant’s premises whether by termination, subleasing from the Tenant or otherwise, without the prior Approval of the Agent (provided, however, that if the Lease is not a Major Lease, the relevant Borrower may terminate said lease following a default thereunder in the exercise of its remedies in the ordinary course); # shall not collect any rent under any of the Leases more than one (1) month in advance of the due date; # shall not execute any other assignment of lessor’s interest in any of the Leases or the Rents (except to the Agent or as directed by the Agent as contemplated by the Loan Documents); # shall not alter, amend, modify, supplement or change the terms of any Lease in any material respects, or grant any material waivers or material consents in respect of any Lease, in each case without the prior Approval of the Agent (unless expressly permitted above); and # shall execute and deliver at the request of the Agent all such further assurances, confirmations and assignments in connection with the Leases as the Agent shall from time to time reasonably require.
Leasing Costs. agrees to pay or discharge at or prior to Closing, or, at ’s option, to credit as of Closing an amount equal to (in which case shall assume the obligation to pay or discharge same), all leasing commissions, costs for tenant improvements, lease buyout costs, moving allowances, design allowances, legal fees and other costs, expenses and allowances incurred in order to induce a tenant to enter into a Lease or Lease renewal or extension or to induce a licensee to enter into a License Agreement (collectively, “Leasing Costs”) that are due and payable with respect to # Leases and License Agreements in force as of or prior to the Effective Date and # the Sappi Amendment (as defined on [Schedule 3] attached hereto) and the Pactiv Amendments (as defined on [Schedule 3] attached hereto); provided, however, that shall have no obligation to pay or credit for, and as of Closing shall assume the obligation to pay, all Leasing Costs payable with respect to any option to renew or option to expand that has not been exercised prior to the Effective Date, which obligation shall survive the Closing. Additionally, as of Closing, shall assume ’s obligations (without credit from ) for # Leasing Costs that are due and payable after the Closing with respect to a tenant’s exercise, after the Effective Date, of any extension right, expansion right, right of first offer or right of first refusal contained in such tenant’s Lease or License Agreements that is in place on the Effective Date and # Leasing Costs incurred with respect to Leases and Lease renewals and extensions and License Agreements and License Agreement renewals and extensions executed subsequent to the Effective Date, including, without limitation, the L&P Amendment (as defined on [Schedule 3] attached hereto).
Leasing; License Agreements. will not amend or terminate any existing Lease or License Agreement or enter into any new Lease or new License Agreement without 's prior written consent thereto. In connection with 's review of any such proposed amendment, termination, new Lease or new License Agreement other than a Proposed Amendment, shall provide # all relevant supporting documentation, as reasonably determined by , including, without limitation, tenant financial information to the extent in ’s possession, and # as to any such amendment or termination of a Lease or License Agreement or new Lease or new License Agreement which is to be executed after the expiration of the Inspection Period, ’s request for ’s approval. In connection with 's request for ’s consent to any amendment or termination of a Lease or License Agreement, or as to a new Lease or new License Agreement, agrees to give written notice of approval or disapproval of a proposed amendment or termination of a Lease or License Agreement or new Lease or new License Agreement within three (3) business days after ’s receipt of the items in [(a) and (b) of this Subsection 6.1.4]. If does not respond to ’s request within such time period, then will be deemed to have approved such amendment, termination or new Lease or new License Agreement. ’s approval rights and obligations will vary depending on whether the request for approval from is delivered to before or after the expiration of the Inspection Period, as follows:
Kidder Matthews is the broker of record representing Tenant and JLL is the broker of record representing Landlord.
“Property Management Business” means the managing, leasing, selling and purchasing of real property.
Attached hereto as [Exhibit Q] is a list of all current Service Contracts (excepting the property management agreement which shall be terminated at Closing) entered into by and/or its property manager or leasing agent relating to the management, maintenance, leasing or operation of the Property;
Sale and Lease-Back Transaction means any arrangement providing for the leasing by Holdings or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by Holdings or such Restricted Subsidiary to a third Person in contemplation of such leasing.
acquire or own any assets other than # the Property, and # such incidental Personal Property as may be necessary for the ownership, leasing, maintenance and operation of the Property;
certification that the principal business of such Subsidiary consists of owning, leasing, dealing in or developing real property.
Property. Smathers hereby represents and warrants to that by the Termination Date, he will return to all documents (and all copies thereof) and other property which he has had in his possession at any time, including, but not limited to, files, notes, drawings, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible property, credit cards, entry cards, identification badges and keys, laptops and phones; and any materials of any kind which contain or embody any proprietary or confidential information of (and all reproductions thereof) (“ Property”).
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