Common use of Leased Real Property Clause in Contracts

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section 25, that: (a) Promptly following, but not later than ninety (90) days after, the close of each fiscal year the Grantor will furnish to the Agent a report certified to be true and correct by the Grantor containing a list of each of the Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords with respect to such premises in accordance with Section 6; and (b) The Grantor agrees that, after the occurrence and during the continuation of an Event of Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate as provided in the Credit Agreement until paid to the Agent in full. (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on the interests of the Holders of Guaranteed Obligations without the Agent's prior written consent.

Appears in 4 contracts

Sources: Guarantor Security Agreement (Ag-Chem Equipment Co Inc), Guarantor Security Agreement (Ag-Chem Equipment Co Inc), Guarantor Security Agreement (Ag-Chem Equipment Co Inc)

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement Agreement, including pursuant to Section 25, that: (a) Promptly following, but not later than ninety (90) days afterafter entering into any leases meeting the criteria set forth in Section 6(vi), the close of each fiscal year the Grantor will furnish to the Agent a report certified to be true and correct by the Grantor containing setting forth a list of each description of the Grantor's leased premisespremises related thereto; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgagees with respect to such premises in accordance with Section 6; and; (b) The Grantor agrees that, from and after the occurrence and during the continuation continuance of an Event of a Designated Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the then applicable default interest rate with respect to Floating Rate Loans as provided in Section 2.11 of the Credit Agreement until paid to the Agent in full.; and (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on materially adversely affects the interests of the Holders of Guaranteed Secured Obligations without the Agent's prior written consentconsent (such consent not to be unreasonably withheld).

Appears in 2 contracts

Sources: Security Agreement (Gfsi Inc), Security Agreement (Gfsi Inc)

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section 25, that: (aSchedule 4.5(b) Promptly following, but not later than ninety (90) days after, the close of each fiscal year the Grantor will furnish to the Agent sets forth a report certified to be true and correct by the Grantor containing a list of each parcel of real property in which each Seller holds a leasehold estate and identified by such Seller (the “Leased Real Property”), including the address of each such leased property. Accurate and current copies of all real property leases, subleases, licenses or other occupancy agreements (and all amendments thereto) set forth on Schedule 4.5(b) (the “Leases”) have been delivered to Parent and Buyer. Except as set forth on Schedule 4.5(b), with respect to each of the Grantor's leased premisesLeases: (i) such lease is valid, binding, enforceable and in full force and effect against Seller; (ii) the name transactions contemplated by this Agreement do not require the consent of any other party to such lease (except for those Leases for which lease consents are obtained), will not result in a breach of or names default under such Lease, and will not otherwise cause such Lease to cease to be valid, binding, enforceable and in full force and effect on materially identical terms following the Closing; (iii) neither Sellers’ possession or quiet enjoyment of all owners; rentals being paid; the Leased Real Property under such Lease has been disturbed and whether the Grantor has obtained waivers of Liens and access agreements from landlords there are no disputes with respect to such premises Lease; (iv) neither Seller nor, to the Sellers’ Knowledge, any other party to the Lease is in accordance with Section 6; and (b) The Grantor agrees breach of or default under such Lease, and no event has occurred or circumstance exists that, after with the occurrence and during the continuation delivery of an Event of Defaultnotice, the Agent maypassage of time or both, but need notwould constitute such a breach or default, make any payment or perform any act hereinbefore required permit the termination, modification or acceleration of rent under such lease; (v) to the Grantor Sellers’ Knowledge, no security deposit or portion thereof deposited with respect to the Grantor's leased premises such Lease has been applied in any form and manner deemed expedient. All money paid for any respect of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the a breach of or default interest rate as provided under such Lease that has not been redeposited in full; (vi) neither Seller nor MFFB owes, or will owe in the Credit Agreement until paid future, any brokerage commissions or finder’s fees with respect to such Lease; (vii) the Agent other party to such Lease is not an Affiliate of, and otherwise does not have any economic interest in full. the Sellers or MFFB; (cviii) The Grantor agrees neither Seller has subleased, licensed or otherwise granted any Person the right to use or occupy the Leased Real Property or any portion thereof; (ix) neither Seller has collaterally assigned or granted any other lien or Encumbrance with regard to such Lease or any interest therein that it will not amend any lease in a manner that has would have a material adverse affect effect on the interests use of the Holders of Guaranteed Obligations without Leased Real Property; and (x) there are no liens or Encumbrances on the Agent's prior written consentestate or interest created by such Lease except as would be disclosed on a title report or commitment.

Appears in 2 contracts

Sources: Asset Purchase Agreement (NexCen Brands, Inc.), Asset Purchase Agreement (MRS Fields Famous Brands LLC)

Leased Real Property. The Grantor covenants and agrees with the Agent Secured Party that from and after the date of this Agreement and until termination of this Agreement pursuant to Section SECTION 25, that: (a) Promptly following, but not later than ninety (90) days after, the close of each fiscal year the Grantor will furnish to the Agent Secured Party a report certified to be true and correct by the Grantor containing a list of each of the Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgagees with respect to such premises in accordance with Section SECTION 6; and (b) The Grantor agrees that, from and after the occurrence and during the continuation of an Event of Default, the Agent Secured Party may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent Secured Party to protect the lien hereof shall be additional Guaranteed Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate as provided in the Credit Agreement Note until paid to the Agent Secured Party in full. (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on adversely affects the interests of the Holders of Guaranteed Obligations Secured Party without the AgentSecured Party's prior written consent.

Appears in 1 contract

Sources: Security Agreement (Ifr Systems Inc)

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section 25, that: (a) Promptly following, but not later than ninety (90) days after, the close of each fiscal year the Grantor will furnish to the Agent a report certified to be true and correct by the Grantor containing a list of each of the Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords with respect to such premises in accordance with Section 6; and (b) The Grantor agrees that, after the occurrence and during the continuation of an Event of Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate as provided in the Credit Agreement until paid to the Agent in full. (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on the interests of the Holders of Guaranteed Secured Obligations without the Agent's prior written consent.

Appears in 1 contract

Sources: Security Agreement (Ag-Chem Equipment Co Inc)

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section SECTION 25, that: (a) Promptly following, but not later than ninety (90) days after, the close of each fiscal year the Grantor will furnish to the Agent a report certified to be true and correct by the Grantor containing a list of each of the Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgagees with respect to such premises in accordance with Section SECTION 6, where such waivers or access agreements are required; and (b) The Grantor agrees that, from and after the occurrence and during the continuation of an Event of Defaulta Default (but only for so long as such Default is continuing), the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate as provided in Section 2.11 of the Credit Agreement until paid to the Agent in full. (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on the interests of the Holders of Guaranteed Obligations without the Agent's prior written consent.

Appears in 1 contract

Sources: Security Agreement (Archibald Candy Corp)

Leased Real Property. The Each Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section 2524, that: (aA) Promptly following, but not later than ninety (90) days after, the close of each fiscal year (or at any other time requested by the Agent or any of the Holders of Secured Obligations), such Grantor will furnish to the Agent a report certified to be true and correct by the such Grantor containing a list of each of the such Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the such Grantor has obtained waivers of Liens and access agreements from landlords in form and substance satisfactory to the Agent with respect to any lease with respect of such premises in accordance with Section 6; and. (bB) The Grantor agrees that, From and after the occurrence and during the continuation of an Event of a Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the such Grantor with respect to the such Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate (determined by reference to the Floating Rate) as provided in Section 2.11 of the Credit Agreement until paid to the Agent in full. (cC) The Such Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on adversely affects the interests of the Holders of Guaranteed Secured Obligations without the Agent's prior written consent.

Appears in 1 contract

Sources: Credit Agreement (CTS Corp)

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement Agreement, including pursuant to Section 25, that: (a) Promptly following, but not later than ninety (90) days afterafter entering into any leases meeting the criteria set forth in Section 6(v), the close of each fiscal year the Grantor will furnish to the Agent a report certified to be true and correct by the Grantor containing setting forth a list of each description of the Grantor's leased premisespremises related thereto; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgagees with respect to such premises in accordance with Section 6; and6 to the extent required to do so thereunder; (b) The Grantor agrees that, from and after the occurrence and during the continuation continuance of an Event of a Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent as herein permitted to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the then applicable default interest rate with respect to Floating Rate Loans as provided in Section 2.11 of the Credit Agreement until paid to the Agent in full.; and (c) The Grantor agrees that it will not amend any lease in a manner that has is reasonable likely to result in a material adverse affect on the interests of the Holders of Guaranteed Obligations Material Adverse Effect without the Agent's prior written consentconsent (such consent not to be unreasonably withheld).

Appears in 1 contract

Sources: Security Agreement (FTD Corp)

Leased Real Property. The Grantor covenants and agrees with the Agent -------------------- that from and after the date of this Agreement and until termination of this Agreement Agreement, including pursuant to Section 25, that:: ---------- (a) Promptly following, but not later than ninety (90) days after, after entering into any leases meeting the close of each fiscal year the criteria set forth in Section 6(vi). Grantor will ------------- furnish to the Agent a report certified to be true and correct by the Grantor containing setting forth a list of each description of the Grantor's leased premisespremises related thereto; the name or names of all owners; rentals being paid; : and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgages with respect to such premises in accordance with Section 6; and: --------- (b) The Grantor agrees that, from and after the occurrence and during the continuation continuance of an Event of a Designated Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the then applicable default interest rate with respect to Floating Rate Loans as provided in Section 2.11 of the Credit Agreement until paid to the Agent in full.; ------------ and (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on materially adversely affects the interests of the Holders of Guaranteed Secured Obligations without the Agent's prior written consentconsent (such consent not to be unreasonably withheld).

Appears in 1 contract

Sources: Credit Agreement (Gfsi Inc)

Leased Real Property. The Each Grantor covenants and agrees with the Administrative Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section 25, that: (aA) Promptly following, but not later than ninety (90) days after, the close of each fiscal year (or at any other time requested by the Administrative Agent or any of the Holders of Secured Obligations), such Grantor will furnish to the Administrative Agent a report certified to be true and correct by the such Grantor containing a list of each of the such Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the such Grantor has obtained waivers of Liens and access agreements and collateral assignments of lease or leasehold mortgages from landlords and mortgagees with respect to such premises in accordance with Section 6; and (bB) The Such Grantor agrees that, after the occurrence and during the continuation continuance of an Event of Agreement Default, the Administrative Agent may, but need not, make any payment or perform any act hereinbefore required of the such Grantor with respect to the such Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Administrative Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate (determined by reference to the Floating Rate) as provided in Section 2.11 of the Credit Agreement until paid to the Administrative Agent in full. (cC) The Such Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on adversely affects the interests of the Holders of Guaranteed Secured Obligations without the Administrative Agent's prior written consent.

Appears in 1 contract

Sources: Security Agreement (Sybron Dental Specialties Inc)

Leased Real Property. The Grantor covenants and agrees with the Agent that from and after the date of this Agreement and until termination of this Agreement pursuant to Section SECTION 25, that: (a) Promptly following, but not later than ninety (90) days after, the close of each fiscal year the Grantor will furnish to the Agent a report certified to be true and correct by the Grantor containing a list of each of the Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgagees with respect to such premises in accordance with Section SECTION 6; and (b) The Grantor agrees that, from and after the occurrence and during the continuation of an Event of a Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate as provided in SECTION 2.11 of the Credit Agreement until paid to the Agent in full. (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on adversely affects the interests of the Holders of Guaranteed Secured Obligations without the Agent's prior written consent.

Appears in 1 contract

Sources: Security Agreement (Ifr Systems Inc)

Leased Real Property. The Grantor covenants and agrees with the Agent -------------------- that from and after the date of this Agreement and until termination of this Agreement pursuant to Section 25, that:: ---------- (a) Promptly following, but not later than ninety (90) days afterafter the date hereof, the close of and thereafter as requested by Agent, but no more often than once each fiscal year the year, Grantor will furnish to the Agent a report certified to be true and correct in all material respects by the Grantor containing a list of each of the Grantor's leased premises; the name or names of all owners; rentals being paid; and whether the Grantor has obtained waivers of Liens and access agreements from landlords and mortgagees with respect to such premises in accordance with Section 6; and--------- (b) The Grantor agrees that, from and after the occurrence and during the continuation of an Event of a Default, the Agent may, but need not, make any payment or perform any act hereinbefore required of the Grantor with respect to the Grantor's leased premises in any form and manner deemed expedient. All money paid for any of the purposes herein authorized and all other moneys advanced by the Agent to protect the lien hereof shall be additional Guaranteed Secured Obligations secured hereby and shall become immediately due and payable without notice and shall bear interest thereon at the default interest rate as provided in Section 2.11 of the Credit Agreement until paid to the ------------ Agent in full.; and (c) The Grantor agrees that it will not amend any lease in a manner that has a material adverse affect on materially adversely affects the interests of the Holders of Guaranteed Secured Obligations without the Agent's prior written consent.

Appears in 1 contract

Sources: Security Agreement (Pacer International Inc)