Alterations of Property. Borrower shall not undertake or commence any alterations of any improvements on the Property the cost of which is in excess of five percent of the then original principal amount of the Note, without the prior written consent of Lender, not to be unreasonably withheld; provided, however, that Lender may, in its sole and absolute discretion, withhold consent to any alteration the cost of which is reasonably estimated to exceed $2,000,000.
Appears in 4 contracts
Samples: And Security Agreement (Acadia Realty Trust), Leases and Rents and Security Agreement (Acadia Realty Trust), Rents and Security Agreement (Acadia Realty Trust)
