Common use of Landlord’s Consents Clause in Contracts

Landlord’s Consents. Landlord hereby consents to, and agrees that the Leasehold Mortgages may contain provisions for any or all of the following: (i) An assignment of Tenant's share of the net proceeds from available insurance coverage or from any award or other compensation resulting from a total or partial taking of the Leasehold by condemnation; (ii) The entry by the Lender upon the Leasehold during business hours, without notice to Landlord or Tenant, to view the state of the Leasehold; (iii) A default by Tenant under the Lease being deemed to constitute a default under the Leasehold Mortgages; (iv) An assignment of Tenant's right, if any, to terminate, cancel, modify, change, supplement, alter, or amend the Lease, including, without limitation, Tenant's right under Section 365(h) (1) of the United States Bankruptcy Code, 11 U.S.C. § 101 et seq. (the "Bankruptcy Code"), to elect to treat the Lease as terminated, and an assignment of all of Tenant's other rights under the Federal Bankruptcy Code; (v) An assignment of any sublease to which a Leasehold Mortgage is subordinated; and (vi) The following rights and remedies (among others) to be available to the Lender upon the default under any Leasehold Mortgage: (A) The foreclosure of the Leasehold Mortgages pursuant to a power of sale, by judicial proceedings or other lawful means and the sale of the Leasehold to the purchaser at the foreclosure sale and a subsequent sale or sublease of the Leasehold by such purchaser if the purchaser is a Lender or its nominee or designee; provided, however that Lender and Tenant agree that, in connection therewith, any outstanding tax-exempt economic development revenue bonds for the Leasehold improvements shall be redeemed and/or discharged in full unless the Landlord consents to such bonds remaining outstanding, which consent shall be conditioned upon the receipt of an opinion of nationally recognized bond counsel to the effect that the acquisition of the Leasehold by such purchaser or its successor and the use of the Leasehold by such purchaser or its successor will not result in interest on such bonds being includable in the gross income of the holders of such bonds for Federal income tax purposes; (B) The appointment of a receiver, irrespective of whether the Lender accelerates the maturity of all indebtedness secured by the Leasehold Mortgages; (C) The right of the Lender or the receiver appointed under subparagraph (B) above to enter and take possession of the Leasehold, to manage and operate the same, to collect the subrentals, issues and profits therefrom and any other income generated by the Leasehold or the operation thereof and to cure any default under the Leasehold Mortgages or any default by Tenant under the Lease; or (D) An assignment of Tenant's right, title and interest under the Lease in and to any deposit of cash, securities or other property which may be held to secure the performance of the Loan Obligations, including, without limitation, the covenants, conditions and agreements contained in the Leasehold Mortgages, in the premiums for or dividends upon any insurance provided for the benefit of any Lender or required by the terms of the Lease, as well as in all refunds or rebates of taxes or assessments upon or other charges against the Leasehold, whether paid or to be paid.

Landlord’s Consents. Landlord hereby consents to, and agrees that the Leasehold Mortgages may contain provisions for any or all of the following: (i) An assignment of TenantXxxxxx's share of the net proceeds from available insurance coverage or from any award or other compensation resulting from a total or partial taking of the Leasehold by condemnation; (ii) The entry by the Lender upon the Leasehold during business hours, without notice to Landlord or Tenant, to view the state of the Leasehold; (iii) A default by Tenant under the Lease being deemed to constitute a default under the Leasehold Mortgages; (iv) An assignment of TenantXxxxxx's right, if any, to terminate, cancel, modify, change, supplement, alter, or amend the Lease, including, without limitation, Tenant's right under Section 365(h) (1) of the United States Bankruptcy Code, 11 U.S.C. § 101 et seq. (the "Bankruptcy Code"), to elect to treat the Lease as terminated, and an assignment of all of Tenant's other rights under the Federal Bankruptcy Code; (v) An assignment of any sublease to which a Leasehold Mortgage is subordinated; and (vi) The following rights and remedies (among others) to be available to the Lender upon the default under any Leasehold Mortgage: (A) The foreclosure of the Leasehold Mortgages pursuant to a power of sale, by judicial proceedings or other lawful means and the sale of the Leasehold to the purchaser at the foreclosure sale and a subsequent sale or sublease of the Leasehold by such purchaser if the purchaser is a Lender or its nominee or designee; provided, however that Lender and Tenant agree that, in connection therewith, any outstanding tax-exempt economic development revenue bonds for the Leasehold improvements shall be redeemed and/or discharged in full unless the Landlord consents to such bonds remaining outstanding, which consent shall be conditioned upon the receipt of an opinion of nationally recognized bond counsel to the effect that the acquisition of the Leasehold by such purchaser or its successor and the use of the Leasehold by such purchaser or its successor will not result in interest on such bonds being includable in the gross income of the holders of such bonds for Federal income tax purposes; (B) The appointment of a receiver, irrespective of whether the Lender accelerates the maturity of all indebtedness secured by the Leasehold Mortgages; (C) The right of the Lender or the receiver appointed under subparagraph (B) above to enter and take possession of the Leasehold, to manage and operate the same, to collect the subrentals, issues and profits therefrom and any other income generated by the Leasehold or the operation thereof and to cure any default under the Leasehold Mortgages or any default by Tenant under the Lease; or (D) An assignment of Tenant's right, title and interest under the Lease in and to any deposit of cash, securities or other property which may be held to secure the performance of the Loan Obligations, including, without limitation, the covenants, conditions and agreements contained in the Leasehold Mortgages, in the premiums for or dividends upon any insurance provided for the benefit of any Lender or required by the terms of the Lease, as well as in all refunds or rebates of taxes or assessments upon or other charges against the Leasehold, whether paid or to be paid.