Common use of Landlord’s Consents Clause in Contracts

Landlord’s Consents. Each BORROWER will obtain the Landlord's Consents for the Collateral Locations which correspond to the applicable BORROWER's principal place of business and any others which LENDER using its reasonable commercial judgment deems necessary or desirable, provided, however, that in the event that despite any such BORROWER's best efforts such BORROWER is unable to deliver to LENDER any Landlord's Consent required hereunder, LENDER will forbear from requiring such Landlord's Consent upon the condition that the applicable BORROWER shall, upon request from LENDER, provide proof to LENDER that all applicable rent payments have been made, it being understood that it shall be an Event of Default hereunder if any such BORROWER fails to make provide such proof to LENDER within 30 days of LENDER's request therefor and it being further understood that any such BORROWER's failure to provide LENDER with proof of its rent payment within the time period set forth above will be sufficient evidence that an Event of Default has occurred hereunder and that during such 30 day period LENDER may reserve from the BORROWERS' availability to borrow under the REVOLVING LOAN the amount of rental which became due and owing from the date of the last proof submission by the applicable BORROWER. 112

Appears in 1 contract

Samples: Loan and Security Agreement (Cd&l Inc)

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Landlord’s Consents. Each BORROWER will obtain the Landlord's Consents for the Collateral Locations which correspond to the applicable BORROWER's principal place of business locations set forth in Section 4.5(a) above and any others which LENDER AGENT using its reasonable commercial judgment deems necessary or desirable, provided, however, that in the event that despite any such BORROWER's best efforts such BORROWER is unable to deliver to LENDER AGENT any Landlord's Consent required hereunder, LENDER AGENT and the LENDERS will forbear from requiring such Landlord's Consent upon the condition that the applicable BORROWER shall, from time to time upon the reasonable request from LENDERof AGENT (such request to be deemed reasonable if, provide proof so long as no Event of Default has occurred and is continuing, made no more than twice a year), report to LENDER that AGENT all applicable rent payments have been mademade by BORROWER to the owner or owners of the locations set forth in Section 4.5 above, it being understood that it shall be an Event of Default hereunder if any such BORROWER fails to make provide such proof to LENDER within 30 days of LENDER's request therefor and it being further understood that any such BORROWER's failure to provide LENDER AGENT with proof of its any such rent payment within the time period set forth above 15 days of AGENT's request therefor will be sufficient evidence that an Event of Default has occurred hereunder hereunder. During any period of time that BORROWER fails to provide AGENT with proof of its rent payment as aforesaid and that during such 30 day period LENDER not in limitation of any other right of AGENT hereunder, AGENT may reserve from the BORROWERS' BORROWER's availability to borrow under the REVOLVING LOAN Revolving Loan the amount of rental which became due and owing from the date of the last proof submission by the applicable BORROWER. 112END OF ARTICLE V

Appears in 1 contract

Samples: Loan and Security Agreement (Five Star Products Inc)

Landlord’s Consents. Each BORROWER will obtain the Landlord's Consents for the Collateral Locations which correspond to the applicable BORROWER's principal place of business and any others which LENDER using its reasonable commercial judgment deems necessary or desirable, provided, however, that in the event that despite any such BORROWER's best efforts such BORROWER is unable to deliver to LENDER any Landlord's Consent required hereunder, LENDER will forbear from requiring such Landlord's Consent upon the condition that the applicable BORROWER shall, upon request from LENDER, provide proof to LENDER that all applicable rent payments have been made, it being understood that it shall be an Event of Default hereunder if any such BORROWER fails to make provide such proof to LENDER within 30 days of LENDER's request therefor and it being further understood that any such BORROWER's failure to provide LENDER with proof of its rent payment within the time period set forth above will be sufficient evidence that an Event of Default has occurred hereunder and that during such 30 day period LENDER may reserve from the BORROWERS' availability to borrow under the REVOLVING LOAN the amount of rental which became due and owing from the date of the last proof submission by the applicable BORROWER. 112.

Appears in 1 contract

Samples: Loan and Security Agreement (Consolidated Delivery & Logistics Inc)

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Landlord’s Consents. Each BORROWER will obtain the Landlord's Consents for the Collateral Locations which correspond to the applicable BORROWER's principal place of business and any others which LENDER using its reasonable commercial judgment deems necessary or desirable, provided, however, that in the event that despite any such BORROWER's best efforts such BORROWER is unable to deliver to LENDER any Landlord's Consent required hereunder, LENDER will forbear from requiring such Landlord's Consent upon the condition that the applicable BORROWER shall, from time to time upon the reasonable request from LENDERof LENDER (such request to be deemed reasonable if, provide proof so long as no Event of Default has occurred and is continuing, made no more than twice a year), report to LENDER that all applicable rent payments have been mademade by BORROWER to the owner or owners of the Collateral Locations, it being understood that it shall be an Event of Default hereunder if any such BORROWER fails to make provide such proof to LENDER within 30 days of LENDER's request therefor and it being further understood that any such BORROWER's failure to provide LENDER with proof of its any such rent payment within the time period set forth above 15 days of LENDER's request therefor will be sufficient evidence that an Event of Default has occurred hereunder hereunder. During any period of time that BORROWER fails to provide LENDER with proof of its rent payment as aforesaid and that during such 30 day period not in limitation of any other right of LENDER hereunder, LENDER may reserve from the BORROWERS' BORROWER's availability to borrow under the REVOLVING LOAN Revolving Loan the amount of rental which became due and owing from the date of the last proof submission by the applicable BORROWER. 112.

Appears in 1 contract

Samples: Loan and Security Agreement (Five Star Products Inc)

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