Discretion to Encumber. The Parties hereto agree that this Agreement shall not prevent or limit Owner, in any manner, at Owner’s sole discretion, from encumbering the Site or any portion thereof or any improvements thereon then owned by such person with any mortgage, deed of trust or other security device (“Mortgage”) securing financing with respect to the Site or such portion. City acknowledges that the lenders providing such financing may require certain modifications, and City agrees, upon request, from time to time, to meet with Owner and/or representatives of such lenders to negotiate in good faith any such request for modification. City further agrees that it will not unreasonably withhold its consent to any such requested modification. Any mortgagee or trust deed beneficiary of the Site or any portion thereof or any improvements thereon and its successors and assigns (“Mortgagee”) shall be entitled to the following rights and privileges.
Discretion to Encumber. This Agreement shall not prevent or limit Owner in any manner at Owner’s sole discretion, from encumbering the Property, or any portion of the Property, or any improvement on the Property, by any mortgage, deed of trust, or other security device securing financing with respect to the Property or its improvement.
Discretion to Encumber. This Agreement shall notprevent or limit Developers, in any manner, at Developers' sole discretion, from encumbering the Property or any portion of the Property, or any improvement on the Property, by any mortgage, deed of trust, UCC Financing Statement or fixture filing or other security device securing the placement or replacement of financing with respect to the Property or its development.
Discretion to Encumber. The Parties agree that this Agreement will not prevent or limit the Owner in any manner, at the Owner’s sole discretion, from encumbering the Owner Property, or any part of the same including, without limitation, improvement thereon, by any mortgage, deed of trust or other security device securing financing with respect to the Owner Property. The City further agrees that it will not unreasonably withhold its consent to any modification requested by a lender so long as the modification does not materially alter this Agreement to the detriment of the City.
Discretion to Encumber. This Agreement shall not prevent or limit Property Owner in any manner, at its sole discretion, from encumbering the Property or any portion of the Property or any improvement on the Property by any mortgage, deed of trust or other security device securing financing with respect to the Property or its improvements. The City acknowledges that the lender(s) providing such financing may require certain Agreement interpretations and agrees, upon request, from time to time, to meet with the Property Owner and representatives of such lender(s) to provide within a reasonable time period the City’s response to such requested interpretations. The City will not unreasonably withhold its consent to any such requested interpretation, provided that such interpretation is consistent with the intent and purposes of this Agreement. Any mortgagee of a mortgage or a beneficiary of a deed of trust encumbering all or any portion of the Property or any successor or assign thereof, including without limitation any purchaser at a judicial or non-judicial foreclosure sale or a person or entity who obtains title by deed-in-lieu of foreclosure on any portion of the Property (collectively, “Mortgagee”) shall be entitled to the following rights and privileges:
Discretion to Encumber. The Parties hereto agree that this Agreement shall not prevent or limit Developer, in any manner, at Developer's sole discretion, from encumbering the P roperty or any portion thereof or any improvements thereon then owned by such person with any mortgage, deed of trust or other security device ("Mortgage") securing financing with respect to the Property or such portion. Any mortgagee or trust deed beneficiary of the Property or any portion thereof or any improvements thereon and its successors and assigns ("Mortgagee") shall be entitled to the following rights and p rivileges. ·
Discretion to Encumber. This Agreement shall not prevent or limit Owner from encumbering the Property, or any portion of or improvement on the Property, by any mortgage. The City acknowledges that lenders providing financing may require modifications to this Agreement, and the City agrees, upon request from Owner, to meet with Owner and/or representatives of lenders to negotiate in good faith any lender request for modification to this Agreement, provided that any modification will not affect the timely completion or fulfillment of any requirements in the Entitlements or this Agreement relating to the Public Benefits.
Discretion to Encumber. This Agreement shall not prevent or limit LACMTA in any manner, at its sole discretion, from encumbering the Properties or any portion of the Properties or any improvement on the Properties by any mortgage, deed of trust or other security device securing financing with respect to the Properties or their improvements.
Discretion to Encumber. Developer may, in its sole discretion, encumber some or all of the Windward Site or improvements on the Windward Site with a Mortgage.
Discretion to Encumber. This Agreement shall not prevent or limit Owner, in any manner, at Owner’s sole discretion, from encumbering some or all of the Property or any improvement on the Property by any mortgage, deed of trust, or other security device to secure financing related to the Property or the Project. Notwithstanding the foregoing, any project or property shall be free and clear of all liens and encumbrances other than those previously approved in writing by the City prior to transfer to the City.
