Restrictions on Leasing Clause Samples

Restrictions on Leasing. Borrower shall (i) not execute a Major Lease which shall not have been submitted to and approved by Bank, (ii) not alter, modify or change the terms of any Major Lease except in the ordinary course of business and provided such alteration, modification or change does not have a material adverse financial effect on Borrower, (iii) not give any consent (where tenant is required to seek the consent of landlord under the applicable Major Lease) or exercise any option unless required by the terms of any Major Lease approved by Bank or any other Lease, (iv) not cancel or terminate any Major Lease or accept a surrender or tenant buyout thereof except in the event of an expiration of a Major Lease by its terms or a default by the Tenant thereunder or in the ordinary course of business and provided such cancellation, surrender or termination (other than in connection with an event of default by the Tenant thereunder on an expiration by its terms) will not have a material adverse effect on Borrower, unless approved by Bank, (v) not consent to any assignment of or subletting under any Major Lease, unless the same shall be in accordance with the terms of such Major Lease and such terms have been approved by Bank, (vi) not collect any of the rents, income and profits (other than security deposits) arising or accruing under any Lease or from the Project for more than one (1) month in advance of the time when the same shall become due, (vii) except with respect to the Loan Documents, not execute any other assignment of ▇▇▇▇▇▇▇▇’s interest in Major Leases or any assignment of rents arising or accruing from Major Leases or from the Project; (viii) observe and promptly and faithfully perform or cause to be performed, in all material respects, all of the covenants, conditions and agreements contained in all Leases, (ix) at all times do all things reasonably necessary in the exercise of sound business judgment to compel performance by the lessee under each Lease of all material obligations, covenants and agreements by such lessee to be performed thereunder, (x) not do or permit to be done anything to impair the security of any Lease, (xi) at Bank’s request, assign and transfer to Bank any and all subsequent Leases upon all or any part of the Project, and (xii) execute and deliver at the reasonable request of Bank all such further assurances and assignments in the Project as Bank shall from time to time require. None of the foregoing restrictions set forth in clauses (i) throu...
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Restrictions on Leasing. Except as permitted under the Declaration, Borrower will not enter into new Lease(s) or alter or modify the terms of the Lease(s), give any consent or exercise any option, accept a surrender thereof, or consent to any assignment of or subletting under the Lease(s). Borrower shall not take any action referred to in this Section 1.14(b) unless the consent of the holder of the First Mortgage to such action shall have been obtained if and to the extent required under the First Mortgage. Lender shall have all the rights against tenants of the Mortgaged Property as set forth in Section 291-f of the Real Property Law of the State of New York, and reference to said Section 291-f is hereby made.
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Restrictions on Leasing. Subject to the terms of Section 29.14 of the Lease, Landlord is prohibited from entering into a direct lease of space and from consenting to a "Transfer," as that term is defined in Section 14.1 of the Lease, to "Tenant Competitors," as that term is defined in Section 29.14 of the Lease, and to "Excluded Tenants," as that term is defined in Section 29.14 of the Lease.
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Restrictions on Leasing. The parties acknowledge that the Units may be used for owner occupation or for long-term or transient rental purposes. The Owners agree that all Unit rentals must be managed by a rental manager approved by the Oaks Owners’ Committee (the “Rental Manager”), and a copy of the agreement between the Owner and his or her Rental Manager, with the Rental Manager's contact information (including its email address and cell phone number) shall be filed with the Oaks Owners’ Committee. There may be more than one approved Rental Manager at any time. Each Rental Manager will be responsible for renting a Unit for a day, a series of days, a week, a month or other periods of time approved by an Owner not to exceed one year. The Rental Manager will be responsible for ensuring the tenants and other occupants comply with the terms of this Agreement, including the Rules and Regulations. The Rental Manager will be responsible for addressing any complaints or concerns expressed by the Oaks Owners’ Committee or an Owner, relating to a tenant’s or occupant’s occupancy or activities. The Rental Manager will be responsible to respond to such complaints or concerns on a timely basis, including after regular work hours, to ensure all Owners' quiet and uninterrupted enjoyment of their respective Units and the Common Property. The Oaks Owners’ Committee may rescind a Rental Manager's approval if the Rental Manager fails to fulfill its responsibilities described in this Agreement. The Owner and its tenants and other occupants of the Unit will be jointly and severally liable under this Agreement, including to repair any damage to the Internal Driveway and Parking, the Internal W alkways, the Common Property and the Shared Elements resulting from acts or omissions of tenants and other occupants of the Unit, as determined in the sole and absolute discretion of the Oaks Owners' Committee; and to pay any claim for injury or damage to property caused by the negligence of such tenants or other occupants of the Unit.
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Restrictions on Leasing. An Owner shall not lease the Unit unless an agreement has been signed by the tenant and Owner and delivered to the Co-tenancy Committee or West Village acting as initial manager of the Common Property prior to the tenant taking possession of the Unit to the following effect: “I , covenant and agree that I and any person using the Unit and the Common Property will comply with the Reciprocal Agreement affecting the ownership and use of the Unit and Common Property.” No tenant shall be liable for the prepayment of Common Expenses unless notified by the Co-tenancy Committee or West Village that the Owner is in default of payment of Common Expenses, in which case, the tenant shall deduct, from the rent payable to the Owner, the Owner’s share of the Common Expenses, and shall pay the same to the Co-tenancy or West Village. The Owner’s rights and obligations with respect to the Owner’s Land shall be joint and several with the tenant.
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Related to Restrictions on Leasing

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  • Restrictions on Lobbying The subrecipient shall not use funds made available to it under this Agreement to pay for, influence, or seek to influence any officer or employee of a State or Federal government.

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