Consent to Loans, Liens and Encumbrances, and Lease Agreements Sample Clauses

Consent to Loans, Liens and Encumbrances, and Lease Agreements. The parties hereto consent and agree, and notwithstanding any provisions to the contrary contained herein or in the City Lease, the Lease Agreements, the B of M Loan Documents, the Board Loan Documents, or any document executed concurrently therewith or related thereto, specifically including but not limited to that certain Public Improvements Use Fee Agreement between the City and the Borrower and that certain Loan Agreement between the City and the Board (all of the foregoing documents may sometimes be collectively be referred to here as the “Transaction Documents,” and the B of M Loan Documents and the Board Loan Documents may sometimes collectively be referred to herein as the “Loan Documents”) that: (i) the existence and execution of the Transaction Documents, in and of themselves, shall not be considered or deemed a breach of warranty or default of any other Transaction Document; provided, however, the Third-party Leases must comply with Section 5 of this Agreement for the foregoing to apply with respect to the Third-party Leases; (ii) the existence of the Lease Agreements shall not be a breach of warranty or default under the Special Warranty Deed from Borrower to the City, relating to the City Property; (iii) subject to the order of priority as set forth in this Agreement, all of the liens and encumbrances created by the Transaction Documents shall be deemed to be permitted encumbrances, and their existence shall not for any purpose be considered or deemed a breach of warranty or default under any other of the Transaction Documents; (iv) each party shall execute and deliver any and all documents that any party hereto may reasonably request in order to document any of the foregoing in this Section 1 or to otherwise comply with or document the terms of this Agreement; (v) Borrower shall have the right, but not the obligation, to cure any default of any other party under any of the Transaction Documents during the applicable cure period for such default; (vi) although the City, as owner of the City Property, would generally be exempt from paying property taxes, and potentially certain assessments, it is agreed that, despite the City Property being owned by the City, it shall be subject to taxation and assessment on the same terms as if Borrower were the fee owner (with the Borrower, and therefore certain sublessees, then being liable to pay such taxes and assessments under the Transaction Documents); (vii) any default under the Board Loan Documents sh...
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Related to Consent to Loans, Liens and Encumbrances, and Lease Agreements

  • Liens and Encumbrances The Company shall not directly or indirectly make, create, incur, assume or permit to exist any assignment, transfer, pledge, mortgage, security interest or other lien or encumbrance of any nature in, to or against any part of the Pledged Property or of the Company's capital stock, or offer or agree to do so, or own or acquire or agree to acquire any asset or property of any character subject to any of the foregoing encumbrances (including any conditional sale contract or other title retention agreement), or assign, pledge or in any way transfer or encumber its right to receive any income or other distribution or proceeds from any part of the Pledged Property or the Company's capital stock; or enter into any sale-leaseback financing respecting any part of the Pledged Property as lessee, or cause or assist the inception or continuation of any of the foregoing.

  • ENCUMBRANCES AND LIENS The Contractor shall not cause or permit any lien, attachment or other encumbrance by any person to be placed on file or to remain on file in any public office or on file with UNDP against any monies due to the Contractor or that may become due for any work done or against any goods supplied or materials furnished under the Contract, or by reason of any other claim or demand against the Contractor or UNDP.

  • ENCUMBRANCES/LIENS The Contractor shall not cause or permit any lien, attachment or other encumbrance by any person to be placed on file or to remain on file in any public office or on file with the UNDP against any monies due or to become due for any work done or materials furnished under this Contract, or by reason of any other claim or demand against the Contractor.

  • Permitted Encumbrances The term “Permitted Encumbrances” shall mean:

  • LIENS, CLAIMS AND ENCUMBRANCES The Contractor warrants and represents that all materials, equipment or services delivered herein are free and clear of all liens, claims, or encumbrances of any kind.

  • Exclusion of liens and interest The Fiscal Agent shall be entitled to deal with each amount paid to it under this Clause 7 in the same manner as other amounts paid to it as a banker by its customers provided, however, that:

  • Liens Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following:

  • Assignment of Leases The Assignment of Leases creates a valid assignment of, or a valid security interest in, certain rights under the Leases, subject only to a license granted to Borrower to exercise certain rights and to perform certain obligations of the lessor under the Leases, including the right to operate the Property. No Person other than Lender has any interest in or assignment of the Leases or any portion of the Rents due and payable or to become due and payable thereunder.

  • Mechanic’s Liens Tenant shall not suffer or permit any mechanic's lien or other lien to be filed against the Premises, or any portion thereof, by reason of work, labor, skill, services, equipment or materials supplied or claimed to have been supplied to the Premises at the request of Tenant, or of anyone holding the Premises, or any portion thereof, by, through or under Tenant. If any such mechanic's lien or other lien at any time shall be filed against the Premises or any portion thereof, Tenant, within thirty (30) days after the date Tenant first becomes aware of the filing of the same, at Tenant's election, shall cause said lien either to be discharged of record or to be bonded over in a manner which is reasonably acceptable to Landlord. If Tenant shall fail to discharge such mechanic's lien or other lien or to bond over the same within such period, then Landlord may, but shall not be obligated to, discharge the same by paying to the claimant the amount claimed to be due or by procuring the discharge of such lien as to the Premises by deposit of a cash sum or a bond or other security, or in such other manner as is now or may in the future be provided by present or future law for the discharge of such lien as a lien against the Premises. Any amount paid by Landlord, or the value of any deposit so made by Landlord, together with all costs, fees and expenses in connection therewith (including reasonable attorneys' fees), together with interest thereon at the Maximum Rate of Interest, shall be repaid by Tenant to Landlord within thirty (30) days after demand therefor. Tenant shall indemnify, defend and hold harmless Landlord and the Premises from all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands and obligations, including, without limitation, reasonable attorneys' fees, resulting from the assertion, filing, foreclosure or other legal proceedings with respect to any such mechanic's lien or other lien.

  • ASSIGNMENT OF LEASES AND RENTS There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.

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