Examples of Specified Tenant in a sentence
In the event Mortgage Borrower delivers to Mortgage Lender the Specified Tenant Trigger Cure Guaranty (as defined in the Mortgage Loan Agreement), Borrower shall provide to Lender a payment guaranty from Guarantor, which guaranty shall be substantially in the form of, and shall guarantee payment of such amounts as are guaranteed by, the Specified Tenant Trigger Cure Guaranty delivered by Mortgage Borrower to Mortgage Lender.
Lender shall make disbursements from the Specified Tenant Reserve Account to pay, or to reimburse Borrower or Master Tenant, for the costs of completing the Purchaser’s Outstanding Conditions only.
If there occurs after the date hereof a material adverse change in the financial condition of a Specified Tenant (as hereinafter defined), such Specified Tenant shall thereafter no longer be an Approved Tenant for the purposes of any future Project and Project Loans; provided, however, that Bank, in its sole discretion, may approve such Specified Tenant as an Approved Tenant for a specific Project.
For the purposes hereof, each of OfficeMax, Merchants and Walgreens shall be a "Specified Tenant." The foregoing provision shall in no way modify, amend or otherwise affect Bank's right under the Loan Agreement to approve or disapprove, in its sole discretion, a Project Loan.
According to the estoppel certificate delivered by the Specified Tenant in connection with the closing of the Mortgage Loan, the initial term of the Specified Tenant’s lease commenced on July 1, 2018.