Common use of Immaterial Transfers and Easements, etc Clause in Contracts

Immaterial Transfers and Easements, etc. Borrower shall be permitted to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).

Immaterial Transfers and Easements, etc. Borrower shall be permitted to cause Senior Mezzanine Borrower to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement and the Senior Mezzanine Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).

Immaterial Transfers and Easements, etc. (a) Borrower shall be permitted to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, use and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or and (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, Agreement and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).

Immaterial Transfers and Easements, etc. (a) Borrower shall be permitted to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement, the Mezzanine B Loan Agreement, the Mezzanine C Loan Agreement and the Mezzanine A Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, use and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or and (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, Agreement and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).

Immaterial Transfers and Easements, etc. (a) Borrower shall be permitted to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement and the Mezzanine A Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, use and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or and (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, Agreement and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).

Immaterial Transfers and Easements, etc. (a) Borrower shall be permitted to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement, the Mezzanine B Loan Agreement and the Mezzanine A Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, use and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or and (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, Agreement and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).

Immaterial Transfers and Easements, etc. Borrower shall be permitted to cause Senior Mezzanine Borrower to cause Mortgage Borrower to, in accordance with the terms of the Mortgage Loan Agreement and the Senior Mezzanine Loan Agreement, without the consent of Lender, (i) make immaterial Transfers of unimproved, non-income producing portions of an Individual Property to Governmental Authorities for dedication or public use, and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone or other fiber optic or other data transmission lines, electric lines or other utilities or for 100 other similar purposes, provided that no such Transfer, conveyance or encumbrance set forth in the foregoing clauses (i) or (ii) shall materially impair the utility and operation of such Individual Property or reasonably be expected to, or does, have a Material Adverse Effect. In connection with any Transfer permitted pursuant to this Section 7.5, Borrower shall (i) provide fifteen (15) days’ prior written notice to Lender, (ii) execute and deliver to Lender the equivalent of all documents required to be delivered to Mortgage Lender pursuant to Section 7.5 of the Mortgage Loan Agreement, and (iii) reimburse Lender for all of Lender’s reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred in connection with such Transfer (which shall be paid by Borrower whether or not the proposed Transfer actually occurs).