Leasing Guidelines Clause Samples
The Leasing Guidelines clause sets out the rules and procedures that must be followed when leasing property under the agreement. It typically covers aspects such as the process for approving tenants, requirements for lease terms, and any restrictions or obligations related to subleasing or modifications to the property. By establishing clear standards and expectations for leasing activities, this clause helps prevent disputes and ensures that all parties understand their rights and responsibilities regarding the leasing process.
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Leasing Guidelines. Except as expressly permitted under this Agreement, Borrower shall not enter into any Lease of space in the Improvements unless approved or deemed approved by Lender prior to execution (which consent shall not be unreasonably withheld, conditioned or delayed). Borrower’s standard form of tenant lease, and any revisions thereto, must have the prior written approval of Lender. Lender shall be “deemed” to have approved any Lease that: (a) is on the standard form lease approved by Lender with no deviations except as approved by Lender (subject to modifications to address customary lease modifications in the marketplace); (b) is entered into in the ordinary course of business with a bona fide unrelated third party tenant, and Borrower, acting in good faith and exercising due diligence, has determined that the tenant is financially capable of performing its obligations under the Lease; (c) is received by Lender, together with any guaranty(ies) and financial information received by Borrower regarding the tenant and any guarantor(s), within fifteen (15) days after execution; (d) reflects an arm’s length transaction; (e) contains no option or right of first refusal to purchase all or any portion of the Property or any present or future interest therein; (f) requires the tenant to execute and deliver to Lender an estoppel certificate in form and substance reasonably acceptable to Lender within thirty (30) days after notice from Lender; and (g) does not cover in excess of twenty percent (20%) of the aggregate net rentable area of the Improvements or have a rental rate that is less than (i) $20.00 per square foot per year (on a triple net basis) for space on the first floor of the Improvements, (ii) $8.50 per square foot per year (on a triple net basis) for space on the second through fourth floor of the Improvements, and (iii) $14.00 per square foot per year (on a triple net basis) for space on the fifth floor of the Improvements and above. Borrower shall provide to Lender a correct and complete copy of each Lease, including any exhibits, and any guaranty(ies) thereof, prior to execution unless the Lease meets the foregoing requirements for “deemed” approval by Lender. Borrower shall pay all reasonable costs incurred by Lender in reviewing and approving Leases and any guaranties thereof, and also in negotiating subordination agreements and subordination, nondisturbance and attornment agreements with tenants, including reasonable attorneys’ fees and costs. For Leases ...
Leasing Guidelines. The leasing guidelines for the Project as approved (and amended) by the Members in accordance with Section 6.12.
Leasing Guidelines. The Members shall negotiate in good faith to develop and agree upon initial Leasing Guidelines for the lease up of the Project as an apartment community following the execution of this Agreement and prior to the execution of any lease within the Project. The Members shall negotiate in good faith to amend the Leasing Guidelines as may be necessary from time to time. All Leasing Guidelines shall be approved by Member Consent.
Leasing Guidelines. Leasing Guidelines. NOTWITHSTANDING ANYTHING CONTAINED HEREIN, COPIES OF ALL LEASES, NEW LEASES, LEASE AMENDMENTS OR MODIFICATIONS, LEASE EXTENSIONS, LEASE ASSIGNMENTS AND RENEWALS MUST BE FORWARDED TO LENDER IMMEDIATELY UPON EXECUTION THROUGHOUT THE TERM OF THE LOAN. Lender shall have the right to review and approve the execution, renewal, modification, settling or termination (each such action is called a “Leasing Action”) relating to the space currently occupied by the “Key Leases”. The Key Leases are X Ray X-Press Corp, The Methodist Hospital and American Medical Response. Any Leasing Action not related to the Key Leases will not require Lender written consent if the following conditions are met: Term of Lease: Maximum term of ten (10) years, including the base lease term and all extension options. Maximum Rental Space: 50,000 square feet of space (which equals 5% of the total SF). Minimum Rent: $4.00 per net rentable square foot (taking into account free rent or other concessions and tenant improvements which exceed market or building standards, etc.). Expense Provisions: NNN Form of lease: All leases shall be made to established tenants on the approved “standard” form of lease with no material deletions or alterations therefrom. To facilitate Assignee’s lease review, all deletions or alterations to the “standard” form of lease submitted by Assignor to Assignee for approval must be black-lined or highlighted. Other Obligations: Landlord shall not agree to any rental space take-over or take-back obligation with respect to the center or any other premises leased by such tenant. No lease shall contain a tenant option to lease additional space which would cause occupied square footage to exceed the limits of item 3 above or to purchase the premises or acquire any Interest in the Property. No lease shall contain any representations, warranties or indemnifications by the Landlord with respect to hazardous substances or asbestos. No lease shall permit prepayment of rent more than one month in advance. Leases must be arms-length transactions to parties not affiliated with Borrower.
Leasing Guidelines. Holder hereby agrees that Holder will not withhold approval of any proposed Lease (subject to Holder’s approval of the tenant) if the same conforms to the requirements of the Senior Loan Documents.
Leasing Guidelines. Borrower shall not enter into any Lease of space in the Property unless approved or deemed approved by Lender prior to execution. Borrower’s standard form of tenant lease has been approved by Lender. Lender shall be “deemed” to have approved any Lease that: (a) is on the standard form lease approved by Lender; (b) is entered into in the ordinary course of business with a bona fide unrelated third party tenant, and Borrower, acting in good faith and exercising due diligence; (c) reflects an arm’s length transaction; and (d) contains no option or right of first refusal to purchase all or any substantial portion of the Property or any present or future interest therein.
Leasing Guidelines. Owner shall, from time to time, provide Manager with leasing guidelines outlining the leasing requirements. Such guidelines shall include, without limitation, permitted parameters regarding term, rental rates and lease concessions, if any. Manager shall have no authority to vary lease terms from the parameters set forth in the leasing guidelines, or otherwise bind Owner with respect to any tenant unless otherwise agreed to by Owner.
Leasing Guidelines. Borrower shall not enter into any Lease of space in the Improvements unless approved or deemed approved by Administrative Agent prior to execution, such approval not to be unreasonably withheld, conditioned or delayed. Borrower’s standard form of tenant lease, and any revisions thereto, must have the prior written approval of Administrative Agent. Administrative Agent shall be “deemed” to have approved any Lease that: (a) is on the standard form lease approved by Administrative Agent with no material deviations except as approved by Administrative Agent, such approval not to be unreasonably withheld, conditioned or delayed; (b) is entered into in the ordinary course of business with a bona fide unrelated third party Tenant, and Borrower, acting in good faith and exercising due diligence, has determined that the Tenant is financially capable of performing its obligations under the Lease; (c) reflects an arm’s length transaction; and (d) contains no right or option to purchase the Property or any present or future interest therein. Other than in the ordinary course of business, Borrower shall not alter, modify or change the terms of the Leases, or surrender, cancel or terminate the same without the prior written consent of Administrative Agent. If requested by Administrative Agent, Borrower shall provide to Administrative Agent a correct and complete copy of each existing Lease, including any exhibits, and any guaranty(ies) thereof, within seven (7) days after Administrative Agent’s request.]
Leasing Guidelines. Owner and Agent adopt for the Property the Leasing Guidelines set forth in the attached Exhibit A to this Addendum C. Agent shall adhere to the Leasing Guidelines but retains the right to deviate from the Leasing Guidelines as it sees fit in the exercise of its commercially reasonable discretion during each leasing process; provided that Agent shall not, without Owner’s prior, written consent, not to be unreasonably withheld, conditioned, or delayed, have such discretion with respect to any Property tenant whose lease represents more than ten percent (10%) of the Property’s rentable square footage. Owner and Agent shall annually review the Leasing Guidelines in good faith during the Term and make such revisions thereto as they agree. Agent shall have the right to review and propose additional reasonable changes to the Leasing Guidelines at other times if certain conditions exist which necessitate such changes (provided that Owner shall have the right, in its reasonable discretion, to accept or reject such proposals). ASSET AND MANAGEMENT AGREEMENT ADDENDUM C – PAGE 2 LEASING GUIDELINES Term: 5 years Base Rent: $ / RSF / NNN Annual Escalation: CPI (minimum 2%) Tenant Improvements: $ / USF for new $ / USF for renew Tenancy Conditions: Per Ground Lease Tenant Concessions (i.e., free rent, etc.): Per-Tenant basis, to be approved by Owner. ASSET AND MANAGEMENT AGREEMENT This Addendum D (this “Addendum”) is attached to and made a part of the Asset and Property Management Agreement (the “Management Agreement”).
Leasing Guidelines. Borrower shall not enter into any Lease of self-storage space in the Improvements except in the ordinary course of Borrower's self-storage business and only upon Borrower's standard form of tenant lease. Any material revisions thereto, must have the prior written approval of Lender.