Common use of Amendments Requested by Mortgagee Clause in Contracts

Amendments Requested by Mortgagee. A. If requested by any Mortgagee or prospective Mortgagee, Manager agrees to execute and deliver any amendment of this Agreement that is reasonably required by such Mortgagee or prospective Mortgagee, provided that Manager shall be under no obligation to amend this Agreement if the result of such amendment would be: (i) to reduce, defer or delay the amount of any payment to be made to Manager hereunder; (ii) to materially and adversely increase Manager's obligations or affect Manager's rights under this Agreement; (iii) to change the Term of this Agreement; (iv) to cause the Resort to be operated other than pursuant to the Luxury Spa Resort Standards and other provisions hereof; or (v) to amend Section 5.02 or Section 5.03. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding.

Amendments Requested by Mortgagee. A. If requested by any Mortgagee or prospective Mortgagee, Manager agrees to execute and deliver any amendment of this Agreement that is reasonably required by such Mortgagee or prospective Mortgagee, provided that Manager shall be under no obligation to amend this Agreement if the result of such amendment would be: (i) to reduce, defer or delay the amount of any payment to be made to Manager hereunder; (ii) to materially and adversely increase Manager's obligations or affect Manager's rights under this Agreement; (iii) to change the Term of this Agreement; (iv) to cause the Resort Golf Club to be operated other than pursuant to the Luxury Spa Resort Country Club Standards and other provisions hereof; or (v) to amend Section 5.02 or Section 5.03. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding.

Amendments Requested by Mortgagee. A. If requested by any Mortgagee or prospective Mortgagee, Manager agrees to execute and deliver any amendment of this Agreement that is reasonably required by such Mortgagee or prospective Mortgagee, provided that Manager shall be under no obligation to amend this Agreement if the result of such amendment would be: (i) to reduce, defer or delay the amount of any payment to be made to Manager hereunder; (ii) to materially and adversely increase Manager's ’s obligations or affect Manager's ’s rights under this Agreement; (iii) to change the Term of this AgreementTerm; (iv) to cause the Resort Hotel to be operated other than pursuant to the Luxury Spa Resort System Standards and other provisions hereof; or (v) to amend Section 5.02 5.02, Section 5.03 or Section 5.03Article VI. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding.