Common use of Hypothecation for Financing Clause in Contracts

Hypothecation for Financing. For the purpose of financing or refinancing the acquisition of the Premises, the Improvements, the fixtures and equipment located on the Premises, the alteration, construction or reconstruction of Improvements, Lessee may engage in a Transfer to a Leasehold Mortgagee only if, in addition to such other applicable provisions in this Agreement, the provisions in this Section 16(d) are satisfied. In no event shall Leasehold Mortgages either individually or collectively exceed a loan-to-value ratio of seventy-five percent (75%) of the Premises.

Hypothecation for Financing. For the purpose of financing or refinancing the acquisition of the Premises, the Improvements, the fixtures and equipment located on the Premises, the alteration, construction or reconstruction of Improvements, or the Project, Lessee may engage in a Transfer to a Leasehold Mortgagee only if, in addition to such other applicable provisions in this Agreement, the provisions in this Section 16(d) are satisfied. In no event shall Leasehold Mortgages either individually or collectively exceed a loan-to-value ratio of seventy-five percent (75%) of the Premises.