Consent and Estoppel of Senior Lender. Senior Lender hereby acknowledges and consents to the making of the Subordinate Loan and to the encumbrance of the XX Xxxxxxxxx Subleases by the Subordinate Mortgages and, subject to the terms and conditions of this Agreement, agrees that the Subordinate Loan and such encumbrances shall not be deemed to constitute a default under the Senior Loan Documents.
Appears in 2 contracts
Samples: Project Loan Agreement (New York Times Co), Building Loan Agreement (New York Times Co)
Consent and Estoppel of Senior Lender. Senior Lender hereby acknowledges and consents to the making of the Subordinate Loan and to the encumbrance of the XX Xxxxxxxxx Subleases Senior Loan Collateral evidenced by the Subordinate Mortgages Loan Documents and, subject to the terms and conditions of this Agreement, agrees that the Subordinate Loan and such encumbrances shall not be deemed to constitute a default under the Senior Loan Documents.
Appears in 2 contracts
Samples: Operating Agreement (New York Times Co), Operating Agreement (New York Times Co)
