Correction of Site Descriptions, Descriptions of Easements Sample Clauses

Correction of Site Descriptions, Descriptions of Easements. By reason of inadvertent construction errors, the Buildings may not be precisely constructed within their respective Parcels. As soon as reasonably possible after completion of the construction of each Building, the Owner thereof, at its expense, shall cause an "as-built" survey to be made of its Parcel. If such survey discloses that the Building causing such survey to be made has not been constructed precisely within such Owner's Parcel, then, upon request of the constructing Owner, the other Owner shall grant to the constructing Owner an easement over that portion of the Common Area as is required to allow the location of such Building as shown on the survey and the constructing Owner shall grant to the other Owner an easement over that portion of its Parcel upon which the Building is not located for use as a portion of the Common Area. Any such easements shall remain in existence so long as such Building shall be in existence. Nothing herein contained shall be deemed to relieve or excuse either Owner from EXHIBIT P - Page - 27- TISHMAN WARNER CENTER VENTURE, LLC [20th Century Industries; 6303 Owensmouth] exercising all due diligence to construct its Building within its Parcel. All of the costs and expenses of granting such easements, including without limitation, any attorneys' fees incurred in connection therewith by the other Owner, and of improving the portion of the constructing Owner's Parcel which is to be used as a portion of the Common Area so as to integrate such portion into the Common Area shall be borne solely by the constructing Owner.
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Related to Correction of Site Descriptions, Descriptions of Easements

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  • Granting of Easements If no Event of Default under this Project Lease shall have happened and be continuing, the Tenant may, at any time or times, (a) grant easements, licenses and other rights or privileges in the nature of easements with respect to any property included in the Project, free from any rights of the Issuer or the Owner, or (b) release existing easements, licenses, rights-of-way and other rights or privileges, all with or without consideration and upon such terms and conditions as the Tenant shall determine, and the Issuer agrees, to the extent that it may legally do so, that it will execute and deliver any instrument necessary or appropriate to confirm and grant or release any such easement, license, right-of-way or other right or privilege or any such agreement or other arrangement, upon receipt by the Issuer of: (1) a copy of the instrument of grant or release or of the agreement or other arrangement, (2) a written application signed by the Authorized Tenant Representative requesting such instrument, and (3) a certificate executed by the Tenant stating (A) that such grant or release is not detrimental to the proper conduct of the business of the Tenant, and (B) that such grant or release will not impair the effective use or interfere with the efficient and economical operation of the Project and will not materially adversely affect the security of the Owner. Any consideration received by the Tenant for the grant or release must be paid to the Bank to be deposited in the Debt Service Fund and used to redeem Bonds at the earliest practicable date, at their principal amount, plus accrued interest, without premium. If the instrument of grant shall so provide, any such easement or right and the rights of such other parties thereunder shall be superior to the rights of the Issuer and the Owner and shall not be affected by any termination of this Project Lease or default on the part of the Tenant hereunder. If no Event of Default shall have happened and be continuing, any payments or other consideration received by the Tenant for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the Tenant, but, in the event of the termination of this Project Lease because of an Event of Default, all rights then existing of the Tenant with respect to or under such grant shall inure to the benefit of and be exercisable by the Issuer.

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