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.
Appears in 3 contracts
Samples: Project Lease, Project Lease, Project Lease
Granting of Easements. If no Event of Default under this Project Lease shall have happened and be continuing, the Tenant Company 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 OwnerBondowners, 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 Company 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Company Representative requesting such instrument, and (3iii) a certificate executed by the Tenant Company stating (Aaa) that such grant or release is not detrimental to the proper conduct of the business of the TenantCompany, and (Bbb) 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 premiumBondowners. 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 right of the Bondowners and shall not be affected by any termination of this Project Lease or default on the part of the Tenant Company hereunder. If no Event of Default shall have happened and be continuing, any payments or other consideration received by the Tenant Company for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the TenantCompany, but, in the event of the termination of this Project Lease because of an Event Default of Defaultthe Company, all rights then existing of the Tenant Company with respect to or under such grant shall inure to the benefit of and be exercisable by the Issuer.
Appears in 3 contracts
Samples: Lease, Lease Agreement, Lease Agreement
Granting of Easements. If no Event of Default under this Project Lease shall have happened and be continuing, the Tenant Company may, at any time or times, (a) grant easements, licenses and other rights or privileges in the nature of beneficial easements with respect to any property included in the Project, free from any rights of the Issuer or the OwnerBondowners, 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 Company 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Company Representative requesting such instrument, and (3iii) a certificate executed by the Tenant Company stating (Aaa) that such grant or release is not detrimental to the proper conduct of the business of the TenantCompany, and (Bbb) 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 premiumBondowners. 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 right of the Bondowners and shall not be affected by any termination of this Project Lease or default on the part of the Tenant Company hereunder. If no Event of Default shall have happened and be continuing, any payments or other consideration received by the Tenant Company for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the TenantCompany, but, in the event of the termination of this Project Lease because of an Event Default of Defaultthe Company, all rights then existing of the Tenant Company with respect to or under such grant shall inure to the benefit of and be exercisable by the Issuer.
Appears in 2 contracts
Granting of Easements. If no Event event of Default under this Project Lease default shall have happened and be continuing, and subject to the Tenant maydelivery of prior written notice to Trustee, Company may at any time or times, (a) times grant easements, licenses licenses, rights-of-way (including the dedication of public highways), and other rights or privileges in the nature of easements with respect to any property included in the ProjectMortgaged Property, free from any rights the lien of the Issuer or the OwnerIndenture, or (b) Company may release existing easements, licenses, rights-of-way way, and other rights or privileges, all privileges with or without consideration and upon such terms and conditions as the Tenant shall determineconsideration, and the Issuer agrees, to the extent agrees that it may legally do so, that it shall execute and deliver and will cause and direct Trustee to execute and deliver any instrument necessary or appropriate to confirm the release of any such easement, license, right of way and other right or privilege in the nature of easements when so granted from the lien of the Indenture, including, but not limited to, delivery by the Issuer of a release of lien in recordable form and a subordination agreement in recordable form confirming that the lien of the Indenture is subject and subordinate to such easement, license, right of way or other right or privilege granted pursuant to this Section 9.5, and grant or release any such easement, license, right-of-way way, or other right or privilege or any such agreement or other arrangement, upon receipt by the Issuer of: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, release; (2ii) a written application signed by the Authorized Tenant Company Representative requesting such instrument, ; and (3iii) a certificate executed by the Tenant Authorized Company Representative stating (A1) that such grant or release is not detrimental to the proper conduct of the business of the TenantCompany, and (B2) that such grant or release will not impair the effective use or interfere with the efficient and economical operation of the Project Mortgaged Property and will not materially adversely affect weaken, diminish, or impair the security of the Owner. Any consideration received by the Tenant for the grant or release must be paid to the Bank intended 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 given 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 IssuerIndenture.
Appears in 2 contracts
Samples: Loan Agreement (American Railcar Industries, Inc./De), Loan Agreement (American Railcar Industries, Inc./De)
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 ProjectLeased Property, free from any rights of the Issuer or the OwnerOwner(s) of Bonds, 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 Leased Property and will not materially adversely affect the security of the OwnerOwner(s) of Bonds. Any consideration received by the Tenant for the grant or release must be paid to the Bank Trustee 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 premiumFund. 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 Owner(s) of Bonds 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.
Appears in 1 contract
Samples: Lease (CHS Inc)
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 Trustee 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.
Appears in 1 contract
Samples: Project Lease
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 OwnerBondowners, 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Representative requesting such instrument, instrument and (3iii) a certificate executed by the Tenant stating (Aaa) that such grant or release is not detrimental to the proper conduct of the business of the Tenant, and (Bbb) 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 OwnerBondowners. 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 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 Bondowners 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 or default of an Event of DefaultTenant, 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.
Appears in 1 contract
Samples: Lease (Collins Industries Inc)
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 OwnerOwner(s) of Bonds, 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 OwnerOwner(s) of Bonds. Any consideration received by the Tenant for the grant or release must be paid to the Bank Trustee 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 Owner(s) of Bonds 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.
Appears in 1 contract
Samples: Lease (Lmi Aerospace Inc)
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 OwnerBondowners, 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Representative requesting such instrument, and (3iii) 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 premiumBondowners. 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 right of the Bondowners 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 Default of Defaultthe Tenant, 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.
Appears in 1 contract
Samples: Master Lease Agreement
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 OwnerBondowners, 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 premiumBondowners. 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 Bondowners 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.
Appears in 1 contract
Samples: Lease (MGP Ingredients Inc)
Granting of Easements. If no Event of Default under this Project Lease shall have happened and be continuing, the Tenant Corporation 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 OwnerBondowners, 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 Corporation 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Corporation Representative requesting such instrument, and (3iii) a certificate executed by the Tenant Corporation stating (A) that such grant or release is not detrimental to the proper conduct of the business of the TenantCorporation, 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 premiumBondowners. 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 bondowners and shall not be affected by any termination of this Project Lease or default on the part of the Tenant Corporation hereunder. If no Event of Default shall have happened and be continuing, any payments or other consideration received by the Tenant Corporation for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the TenantCorporation, but, in the event of the termination of this Project Lease because of an Event Default of DefaultCorporation, all rights then existing of the Tenant Corporation with respect to or under such grant shall inure to the benefit of and be exercisable by the Issuer.
Appears in 1 contract
Samples: Lease Agreement (Elecsys Corp)
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 OwnerBondowners, 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 and Trustee of: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Representative requesting such instrument, instrument and (3iii) a certificate executed by the Tenant stating (Aaa) that such grant or release is not detrimental to the proper conduct of the business of the Tenant, and (Bbb) 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 premiumOwners. 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 Owners 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 or default of an Event of DefaultTenant, 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.
Appears in 1 contract
Granting of Easements. If no Event of Default under this Project Lease shall have happened and be continuing, Tenant upon receipt of prior written approval of the Tenant Authorized Issuer Representative may, at any time or times, (ai) 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 OwnerOwners, or (bii) 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: of (1a) a copy of the instrument of grant or release or of the agreement or other arrangement, (2b) a written application signed by the Authorized Tenant Representative requesting such instrument, instrument and (3c) a certificate executed by the Tenant Xxxxxx stating (A1) that such grant or release is not detrimental to the proper conduct of the business of the Tenant, and (B2) 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 premiumOwners. 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 Bondowners 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 or default of an Event of DefaultTenant, 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.
Appears in 1 contract
Samples: Lease Agreement (Ifr Systems Inc)
Granting of Easements. If no Event of Default under this Project Lease shall have happened Agreement has occurred and be is continuing, the Tenant Company may, notwithstanding anything contained herein to the contrary, at any time or times, with the prior written consent of the Trustee (a) which shall not be unreasonably withheld), grant easements, licenses licenses, rights of way and other rights or privileges in the nature of easements with respect to any property included in the ProjectProject Facilities, free from any rights the lien of the Issuer this Agreement or the OwnerIndenture, or (b) release existing easements, licenses, rights-of-rights of way and other rights or privileges, all with or without consideration and upon such terms and conditions as the Tenant Company shall determine, and the Issuer agreesAuthority agrees that, within a reasonable amount of time following such grant or release, it will execute and deliver and will cause and direct the Trustee, within a reasonable amount of time following such grant or release, 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-right of way or other right or privilege or any such agreement or other arrangementprivilege, upon receipt by the Issuer Authority and the Trustee of: :
(1a) a A copy of the instrument of grant or release or of the agreement or other arrangement, release;
(2b) a A written application signed by the Authorized Tenant Representative Company requesting such instrument, and ; and
(3c) a A certificate executed by the Tenant Company, and such other persons as the Authority or the Trustee may reasonably require, stating (A) that such grant or release is not detrimental to the proper conduct of the business of the Tenant, Company and (B) that such grant or release will not impair the effective use or interfere with the efficient and economical operation of the Project Facilities and will not materially adversely affect in any material respect weaken, diminish or impair the security of the Owner. Any consideration received by the Tenant for the grant or release must be paid to the Bank intended to be deposited in given by or under the Debt Service Fund and used to redeem Bonds at the earliest practicable date, at their principal amount, plus accrued interest, without premiumIndenture. 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 Authority and the Owner Trustee under this Agreement and the Indenture and shall not be affected by any termination of this Project Lease Agreement or default on the part of the Tenant Company hereunder. If no Event of Default shall have happened has occurred and be is continuing, any payments or other consideration received by the Tenant Company for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the TenantCompany, but, in the event of the termination of this Project Lease because of but if an Event of DefaultDefault has occurred and is continuing, all rights then existing of the Tenant Company with respect to or under such grant shall inure to the benefit of and be exercisable by the IssuerAuthority and the Trustee.
Appears in 1 contract
Samples: Installment Sale Agreement (NPR Inc)
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 OwnerBondowners, 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Representative requesting such instrument, and (3iii) a certificate executed by the Tenant stating staling (Aaa) that such grant txxx xxxx xxxxx or release is not detrimental to the proper conduct of the business of the Tenant, and (BCob) 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 premiumBondowners. 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 Bondowners 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.
Appears in 1 contract
Samples: Lease (Collins Industries Inc)
Granting of Easements. If no Event of Default under this Project Lease shall have happened Agreement has occurred and be is continuing, the Tenant Lessee 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 OwnerBondowners, 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 determineLessee determines, 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Lessee Representative requesting such instrument, and (3iii) a certificate executed by the Tenant Lessee stating (Aaa) that such grant or release is not detrimental to the proper conduct of the business of the TenantLessee, and (Bbb) 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 premiumBondowners. 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 right of the Bondowners and shall not be affected by any termination of this Project Lease Agreement or default on the part of the Tenant Lessee hereunder. If no Event of Default shall have happened has occurred and be is continuing, any payments or other consideration received by the Tenant Lessee for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the TenantLessee, but, in the event of the termination of this Project Lease Agreement because of an Event of Default, all rights then existing of the Tenant Lessee with respect to or under such grant shall will inure to the benefit of and be exercisable by the Issuer.
Appears in 1 contract
Samples: Lease Agreement (Labone Inc)
Granting of Easements. If no Event of Default under this Project Lease shall have happened Agreement has occurred and be is continuing, the Tenant Company may, notwithstanding anything contained in this Agreement to the contrary, at any time or times, (a) grant easements, licenses licenses, rights of way and other rights or privileges in the nature of easements with respect to any property included in the ProjectProject Facilities, free from any rights the lien of the Issuer or the Ownerthis Agreement, or (b) release or amend existing easements, licenses, rights-of-rights of way and other rights or privileges, all with or without consideration and upon such terms and conditions as the Tenant Company shall determine, and the Issuer agrees, to the extent that it may legally do so, agrees that it will execute and deliver any instrument necessary or appropriate to confirm and grant grant, release or release amend any such easement, license, right-of-right of way or other right or privilege or any such agreement or other arrangementprivilege, upon receipt by the Issuer and the Trustee of: :
(1a) a A copy of the instrument of grant grant, release, or release or of amendment in form satisfactory to the agreement or other arrangement, Issuer and the Trustee;
(2b) a A written application signed by the Authorized Tenant Representative Company requesting such instrument, and ; and
(3c) a A certificate executed by the Tenant Company, and such other persons as the Issuer and the Trustee may reasonably require, stating (A) that such grant grant, release or release amendment is not detrimental to the proper conduct of the business of the TenantCompany, and (B) that such grant grant, release or release amendment will not impair the effective use or interfere with the efficient and economical operation of the Project Facilities 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. any material 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 under this Agreement and shall not be affected by any termination of this Project Lease Agreement or default on the part of the Tenant Company hereunder. If no Event of Default shall have happened has occurred and be is then continuing, any payments or other consideration received by the Tenant Company 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, Company but, in the event of the termination of this Project Lease because of if an Event of DefaultDefault has occurred and is then continuing, all rights then existing of the Tenant Company with respect to or under such grant grant, shall inure to the benefit of and be exercisable by the IssuerIssuer and the Trustee. Nothing in this Agreement shall diminish the respective rights of the Trustee under the Indenture, including without limitation, the right to prohibit the granting of easements without their prior written consent if such prior consent is reserved.
Appears in 1 contract
Granting of Easements. If no Event of Default under this Project the 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 OwnerBondowners, 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 1677850N.003 privilege or any such agreement or other arrangement, upon receipt by the Issuer of: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Representative requesting such instrument, instrument and (3iii) a certificate executed by the Tenant stating (Aa) that such grant or release is not detrimental to the proper conduct of the business of the Tenant, and (Bbb) 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 premiumBondowners. 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 Bondowners and shall not be affected by any termination of this Project the 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 the Lease because of an or continuing 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.
Appears in 1 contract
Samples: Lease (Royal Caribbean Cruises LTD)
Granting of Easements. If no Lease Event of Default under this Project Lease shall have happened occurred 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 OwnerOwners, 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: (1i) a copy of the instrument of grant or release or of the agreement or other arrangement, (2ii) a written application signed by the Authorized Tenant Representative requesting such instrument, and (3iii) a certificate executed by the Tenant stating that (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 premiumOwners. 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 Owners and shall not be affected by any termination of this Project Lease or default on the part of the Tenant hereunder. If no Lease 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 Default of Defaultthe Tenant, 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.
Appears in 1 contract
Samples: Lease (Capital Lease Funding Inc)