Common use of No Default Under Leases Clause in Contracts

No Default Under Leases. Borrower shall (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Borrower under the Leases and the REAs, if the failure to perform or observe the same would have a Material Adverse Effect; (ii) exercise, within ten (10) Business Days after a written request by Lender, any right to request from the Tenant under any Lease, or the party to any REAs a certificate with respect to the status thereof (which shall not be made more than three (3) times in any calendar year) and (iii) not collect any of the Rents, more than one (1) month in advance (except that Borrower may collect Security Deposits and up to one (1) month's Rent (whether the first month, the last month or otherwise) as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect other charges in accordance with the terms of each Lease).

No Default Under Leases. Borrower shall (i) promptly perform and observe all of the material terms, covenants and conditions required to be performed and observed by Borrower under the Leases and the REAsOperating Agreements, if the failure to perform or observe the same would have a Material Adverse Effectmaterially and adversely affect the value of any Property; (ii) except with respect to Room and Facility Leases, exercise, within ten fifteen (1015) Business Days after a written request by Lender, any right to request from the Tenant under any Lease, Lease or the party to any REAs Operating Agreement a certificate with respect to the status thereof (which shall not be made more than three (3) times in any calendar year) thereof; and (iii) not collect any of the Rents, Rents under the Leases more than one (1) month in advance (except that Borrower may collect Security Deposits and up to one (1A) month's Rent taxes semi-annually in advance from Tenants, (whether the first month, the last month or otherwiseB) security deposits as are permitted by Legal Requirements and are commercially reasonable in the prevailing market and collect (C) other charges in accordance with the terms of each Lease).