Lapse of Permits or Approvals. Any permit, license, certificate or approval that Borrower is required to obtain with respect to the construction, operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effect.
Appears in 4 contracts
Samples: Junior Loan Agreement (Behringer Harvard Opportunity REIT II, Inc.), Loan Agreement (Cost Plus Inc/Ca/), Construction Loan Agreement (American Retirement Corp)
Lapse of Permits or Approvals. Any permit, license, certificate or approval that Borrower is required to obtain with respect to any construction activities at the construction, Property or the operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effect.
Appears in 4 contracts
Samples: Term Loan Agreement, Term Loan Agreement (Inland Real Estate Income Trust, Inc.), Term Loan Agreement (Rexford Industrial Realty, Inc.)
Lapse of Permits or Approvals. Any permit, license, certificate or approval that Borrower is required to obtain with respect to the construction, operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effecteffect and the same is not cured within five (5) days of such lapse or cessation.
Appears in 2 contracts
Samples: Construction Loan Agreement, Construction Loan Agreement
Lapse of Permits or Approvals. Any permit, license, certificate or approval that Borrower is required to obtain with respect to any construction activities at the construction, Property or the operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effecteffect and not reinstated within ten (10) business days.
Appears in 2 contracts
Samples: Construction Loan and Security Agreement (Worldwide Stages, Inc.), Construction Loan and Security Agreement (Worldwide Stages, Inc.)
Lapse of Permits or Approvals. Any permit, license, certificate or approval that Borrower is required to obtain with respect to any construction activities at the construction, Property or the operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effecteffect and continues for thirty (30) days.
Appears in 1 contract
Lapse of Permits or Approvals. Any permit, license, certificate or approval that Borrower is required to obtain with respect to the construction, operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effecteffect and such lapse or ceasing to be in full force and effect continues for more than ten (10) days.
Appears in 1 contract
Samples: Construction Loan Agreement (Campus Crest Communities, Inc.)
Lapse of Permits or Approvals. Any permit, license, certificate or approval that any Borrower is required to obtain with respect to the construction, operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effect.. EXHIBIT 10.32 37867101.2 01/05/2021 - 23 - EXHIBIT 10.32
Appears in 1 contract
Samples: Loan and Security Agreement (4Front Ventures Corp.)
Lapse of Permits or Approvals. Any permit, license, certificate or approval that any Borrower is required to obtain with respect to the construction, operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effect.. 37867101.2 01/05/2021
Appears in 1 contract
Samples: Loan and Security Agreement
Lapse of Permits or Approvals. Any At any time during the term of the Loan, any permit, license, certificate or approval that the Borrower is required to obtain with respect to the construction, operation, development, leasing or maintenance of the Improvements or the Property lapses or ceases to be in full force and effect, and the Borrower fails to cause such permit, license, certificate or approval to be reinstated or reissued within forty-five (45) after the same shall have lapsed or ceased to be in effect.
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