Effect of Lease Approval Clause Samples

The "Effect of Lease Approval" clause defines the legal and practical consequences that occur once a lease agreement receives the necessary approvals from relevant parties, such as landlords, tenants, or regulatory authorities. Typically, this clause specifies when the lease becomes binding, outlines any conditions that must be met before the lease takes effect, and may address the commencement of rent payments or tenant obligations. For example, it might state that the lease is not enforceable until both parties have signed and all required consents are obtained. The core function of this clause is to ensure that all parties clearly understand when their rights and responsibilities under the lease begin, thereby preventing disputes over the lease's validity or start date.
Effect of Lease Approval. No approval of any lease by Administrative Agent shall be for any purpose other than to protect Lenders’ security, and to preserve Lenders’ rights under the Loan Documents. No approval by Administrative Agent shall result in a waiver of any default of Borrower. In no event shall any approval by Administrative Agent of a lease be a representation of any kind, with regard to the lease or its adequacy or enforceability, or the financial capacity of any tenant or guarantor.
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Effect of Lease Approval. No approval of any Tenant Lease by the Lender shall be for any purpose other than to protect the Lender’s security, and to preserve the Lender’s rights under the Loan Documents. No approval by the Lender shall result in a waiver of any Event of Default of the Borrower. In no event shall any approval by the Lender of a lease be a representation of any kind, with regard to the Tenant Lease or its adequacy or enforceability, or the financial capacity of any tenant or guarantor.
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Effect of Lease Approval. No approval of any lease by the Bank shall be ------------------------ for any purpose other than to protect the Bank's security and to preserve the Bank's rights under the Loan Documents. No approval by the Bank shall result in a waiver of any default of the Borrower. In no event shall any approval by the Bank of a lease be a representation of any kind, with regard to the lease or its adequacy or enforceability, or the financial capacity of any tenant or guarantor.
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Related to Effect of Lease Approval

  • Submission of Lease Submission of this instrument for examination or signature by Tenant does not constitute a reservation of, option for or option to lease, and it is not effective as a lease or otherwise until execution and delivery by both Landlord and Tenant.

  • Amendment of Lease This lease may be amended only by an instrument in writing signed by Landlord and Tenant.

  • Ratification of Lease Except as modified herein, the Lease is hereby ratified, approved and confirmed upon all the terms, covenants, and conditions.

  • Assignment of Lease The Tenant may not assign the Lease or sublet all or any part of the Premises or otherwise grant possession of the Premises or any portion thereof to any other person without first obtaining the prior written consent of the Landlord, such consent not to be unreasonably withheld. In no event shall the Tenant be released or discharged from the full performance of this Lease and the payment of all rents and monies and the observance of all covenants, agreements, terms and conditions herein contained and any such consent granted by the Landlord shall not be deemed or implied as consent to any further or subsequent assignment or subletting. In the event this Lease is assigned or all or a portion of the Premises sublet, the Tenant shall pay all reasonable out-of-pocket expenses incurred by the Landlord in any such assignment or subletting, including the Landlord’s legal costs in connection therewith and a non-refundable amount of Five Hundred Dollars ($500.00) in advance to the Landlord, representing a reasonable cost to the Landlord for reviewing such application. Any transferee shall enter into an agreement directly with the Landlord covenanting to be bound by all of the Tenant’s obligations hereunder to the extent applicable to it. Notwithstanding the foregoing provisions of this Section 10.01 or anything else contained herein, so long as Tenant is not then in default under this Lease beyond any applicable curative period provided for in this Lease, Tenant shall have the right, without the consent of Landlord, but otherwise in accordance with the requirements of this Lease, including without limitation, the obligation of any transferee to enter into an agreement directly with the Landlord covenanting to be bound by all of the Tenant’s obligations hereunder to the extent applicable, to assign this Lease and/or sublease the whole or part of the Premises to:

  • Modification of Lease Should any current or prospective mortgagee or ground lessor for the Building or Project require a modification of this Lease, which modification will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the rights and obligations of Tenant hereunder, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute whatever documents are reasonably required therefor and to deliver the same to Landlord within ten (10) business days following a request therefor. At the request of Landlord or any mortgagee or ground lessor, Tenant agrees to execute a short form of Lease and deliver the same to Landlord within ten (10) business days following the request therefor.