Common use of Architect’s Agreement Clause in Contracts

Architect’s Agreement. Borrower and Architect have entered into the Architect’s Agreement, pursuant to which Architect is to design the Improvements. Borrower shall require Architect to perform in accordance with the terms of the Architect’s Agreement and shall not amend, modify or alter the material responsibilities of Architect under the Architect’s Agreement without Administrative Agent’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed. Upon Administrative Agent’s request, Borrower shall execute an assignment of the Architect’s Agreement and the Plans and Specifications to Administrative Agent, for the benefit of Lenders, as additional security for Borrower’s performance under this Agreement and the other Loan Documents and shall cause the Architect to consent to any such assignment.

Architect’s Agreement. Borrower and Architect have entered shall enter into the Architect’s AgreementAgreement in the form reasonably approved by Administrative Agent, pursuant to which Architect is to design the ImprovementsExpansion. Borrower shall require Architect to perform in accordance with the terms of the Architect’s Agreement and shall not materially amend, modify or alter the material responsibilities of Architect under the Architect’s Agreement without Administrative Agent’s prior written consent, such which consent shall not to be unreasonably withheld, conditioned or delayed. Upon Administrative Agent’s request, Borrower shall execute an assignment of the Architect’s Agreement and the Plans and Specifications to Administrative Agent, for the benefit of Lenders, as additional security for Borrower’s performance under this Agreement and the other Loan Documents and shall cause the Architect to consent to any such assignment.

Architect’s Agreement. Borrower or Development Manger and Architect have entered into the Architect’s Agreement, pursuant to which Architect is to design the Improvements. Borrower shall require (and shall cause Development Manager to require) Architect to perform in accordance with the terms of the Architect’s Agreement and neither Borrower nor Development Manager shall not materially amend, modify or alter the material responsibilities of Architect under the Architect’s Agreement without Administrative Agent’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed. Upon Administrative Agent’s request, Borrower shall execute (or cause Development Manager to execute, as the case may be) an assignment of the Architect’s Agreement and the Plans and Specifications to Administrative Agent, for the benefit of Lenders, as additional security for Borrower’s performance under this Agreement and the other Loan Documents and shall cause the Architect to consent to any such assignment.

Architect’s Agreement. Borrower and Architect have entered into the Architect’s Agreement, pursuant to which Architect is to design the Improvements. Borrower shall require Architect to perform in accordance with the terms of the Architect’s Agreement and shall not amend, modify or alter the material responsibilities of Architect under the Architect’s Agreement in a material manner without Administrative Agent’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed. Upon Administrative Agent’s request, Borrower shall execute an assignment of the Architect’s Agreement and the Plans and Specifications to Administrative Agent, for the benefit of Lenders, as additional security for Borrower’s performance under this Agreement and the other Loan Documents and shall cause the Architect to consent to any such assignment.