Common use of Financing Condition Clause in Contracts

Financing Condition. Landlord may from time to time desire to mortgage all or a portion of the Facility for the purpose of securing financing from an institutional lender. In the event such institutional lender not affiliated to Landlord requires, as a condition of granting Landlord such financing, that this Lease be amended or modified, then Tenant shall, within ten (10) days after Landlord’s request, consent to and execute any such reasonable amendment or modification of this Lease; provided, however, that such modification or amendment only concerns (a) the lender’s right to notification, (b) requirements for the lender’s prior consent or approval for any amendment, modification, or early termination of the Lease unless specifically granted in the Lease, for any waiver of any of the terms or conditions of the Lease to be performed or observed by Tenant, or for any estoppel certificate to be provided by Landlord, (c) restrictions on prepayments of Rent (unless required by this Lease), (d) the lender’s right to require that rents be paid directly to the lender upon default of Landlord under the loan made by such lender and Notice to Tenant, (e) the resolution of ambiguities or correction or errors or omissions contained in this Lease, (f) restrictions on Tenant’s ability to subordinate this Lease to junior financing, and/or (g) such other matters as Tenant may consent to, which consent shall not be unreasonably withheld. The parties acknowledge, however, that it would not be unreasonable for Tenant to withhold consent to any modification that affects the length of the Term or increases the Rent payable by Tenant hereunder or otherwise increases Tenant’s obligations (other than notice requirements and other similarly ministerial obligations) or diminishes Tenant’s rights under this Lease.

Financing Condition. 32.1 Landlord may from time to time desire to mortgage all or a portion of the Facility obtain secured (mortgage) financing for the purpose Building. If any lender secured or to be secured by a mortgage or deed of securing financing from an institutional lender. In the event such institutional lender not affiliated to Landlord requirestrust should require, as a condition of granting Landlord to such financing, that either execution by Tenant of an agreement requiring Tenant to send such lender written notice of any default by Landlord under this Lease, giving such lender the right to cure such default until such lender has completed foreclosure and preventing Tenant from terminating this Lease be amended unless such default remains uncured after foreclosure has been completed, or modifiedany modification of the agreements, then Tenant shall, within ten (10) days after Landlord’s request, consent to and execute any such reasonable amendment covenants or modification conditions of this Lease, or both of them, then Txxxxx agrees to execute and deliver such agreement and to modify this Lease as required by such lender; provided, however, that no such modification or amendment only concerns (a) the lender’s right to notification, (b) requirements for the lender’s prior consent or approval for any amendment, modification, or early termination of the Lease unless specifically granted in the Lease, for any waiver of any of the terms or conditions of the Lease to be performed or observed by Tenant, or for any estoppel certificate to be provided by Landlord, (c) restrictions on prepayments of Rent (unless required by this Lease), (d) the lender’s right to require that rents be paid directly to the lender upon default of Landlord under the loan made by such lender and Notice to Tenant, (e) the resolution of ambiguities or correction or errors or omissions contained in this Lease, (f) restrictions on Tenant’s ability to subordinate this Lease to junior financing, and/or (g) such other matters as Tenant may consent to, which consent shall not be unreasonably withheld. The parties acknowledge, however, that it would not be unreasonable for Tenant to withhold consent to any modification that affects affect the length of the Term term hereof or increases increase the Rent rent payable by Tenant hereunder under Article 3 hereof or otherwise increases increase Tenant’s obligations (other than notice requirements and other similarly ministerial obligations) or diminishes decrease Tenant’s rights under this LeaseLease in any material respect. If Tenant fails to execute any such agreement or modification within fifteen (15) days after receipt thereof, Landlord shall have the right, by giving written notice to Tenant, to terminate this Lease and, upon giving such notice, Landlord shall refund to Tenant any unearned rent and the Deposit, if any, this Lease shall terminate, and Landlord and Tenant each shall be released from further obligations to the other under this Lease except for matters occurring or obligations arising prior to the date of such termination.

Financing Condition. Landlord may from time to time desire to mortgage all or a portion of the Facility for the purpose of securing financing from an institutional lender. In the event such institutional lender not affiliated to Landlord requires, as a condition of granting Landlord such financing, that this Lease be amended or modified, then Tenant shall, within ten thirty (1030) days after Landlord’s 's request, consent to and execute any such reasonable amendment or modification of this Lease; provided, however, that such modification or amendment only concerns (a) the lender’s 's right to notification, (b) the lender's right to cure defaults by Landlord, (c) requirements for the lender’s 's consent or approval when Landlord's consent or approval is required hereunder, (d) requirements for the lender's prior consent or approval for any amendment, modification, or early termination of the Lease unless specifically granted in the Lease, for any waiver of any of the terms or conditions of the Lease to be performed or observed by Tenant, or for any estoppel certificate to be provided by Landlord, (ce) restrictions on prepayments of Rent (unless required by this Lease)rent, (df) the lender’s 's right to require that rents be paid directly to the lender upon default of Landlord under the loan made by such lender and Notice to Tenantlender, (eg) the resolution of ambiguities or correction or errors or omissions contained in this Lease, (f) restrictions on Tenant’s ability to subordinate this Lease to junior financing, and/or (gh) such other matters as Tenant may consent to, which consent shall not be unreasonably withheld. The parties acknowledgeAt Landlord's option, however, that it would not Tenant's failure to execute and deliver such a Lease modification or amendment within the required time shall be unreasonable for Tenant to withhold consent to any modification that affects the length an Event of the Term or increases the Rent payable by Tenant hereunder or otherwise increases Tenant’s obligations (other than notice requirements and other similarly ministerial obligations) or diminishes Tenant’s rights Default under this LeaseLease by Tenant, without any further notice to Tenant.