Lease and Assignment. (a) WITHOUT LENDER’S PRIOR WRITTEN CONSENT, NO BORROWER SHALL (EXCEPT AS EXPRESSLY PERMITTED UNDER THE PREFERRED MARINE MORTGAGE) (i) ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, THE EQUIPMENT OR ANY INTEREST THEREIN, OR ASSIGN OR DELEGATE ITS RIGHTS OR OBLIGATIONS UNDER THE LOAN DOCUMENTS, OR (ii) LEASE OR LEND THE EQUIPMENT TO, OR PERMIT THE EQUIPMENT TO BE USED BY, ANYONE OTHER THAN A BORROWER OR A BORROWER’S QUALIFIED EMPLOYEES, PROVIDED, HOWEVER, THAT LENDER CONSENTS TO USE OF THE VESSEL BY CHARTERER SUBJECT IN EACH CASE TO LENDER’S SECURITY INTEREST UNDER THE LOAN DOCUMENTS.
Lease and Assignment. (a) WITHOUT KEF’S PRIOR WRITTEN CONSENT, BORROWER SHALL NOT (1) ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, THE EQUIPMENT OR ANY INTEREST THEREIN, OR ASSIGN OR DELEGATE ITS RIGHTS OR OBLIGATIONS UNDER THE LOAN DOCUMENTS, OR (2) LEASE OR LEND THE EQUIPMENT TO, OR PERMIT THE EQUIPMENT TO BE USED BY, ANYONE OTHER THAN BORROWER.
Lease and Assignment. (a) Owners agree to net lease to Cedar, and Cedar agrees to net lease from Owners, subject to the terms and conditions of this Agreement, all of Owners' right, title and interest in and to all of those certain plots, pieces and parcels of land (the "Land") known by the addresses 0000-00 Xxxxxx Xxxxxx, 0000 Xxxxx 00xx Xxxxxx and 0000 X. Xxxxxxxx Xxxxxx, Xxxxxxxxxxxx, Xxxxxxxxxxxx and are commonly known as South Philadelphia Shopping Plaza, as more particularly described in Schedule X-0, Xxxxxxxx X-0 and Schedule A-3 attached hereto, together with the buildings and improvements (collectively, the "Building") located on the Land (the Building and Land are hereinafter collectively referred to as the "Premises"), and all of the Owners' right, title and interest, if any, in, to and under (i) all easements, rights of way, privileges, appurtenances, strips, gores and other rights pertaining to the Premises, including, without limitation and without warranty, any existing development rights, (collectively, the "Appurtenances"); (ii) any land in the bed of any street, road, avenue, open or proposed, public or private, in front of or adjoining the Premises or any portion thereof, and any award to be made in lieu thereof and in and to any unpaid award for damage to the Premises by reasons of change of grade of any street occurring after the date of execution and delivery of this Agreement (collectively, the "Adjoining Land"); and (iii) the fixtures, equipment, machinery, furniture, furnishings, appliances, supplies and other items of personal property (and replacements thereof), now owned by the Owners and contained in or on, the Premises (collectively, the "Personalty"). The Land, the Building, the Appurtenances, the Adjoining Land and the Personalty are hereinafter referred to as the "Leased Property".
Lease and Assignment. (a) BORROWER SHALL NOT, WITHOUT KEF’S PRIOR WRITTEN CONSENT, (i) SELL, ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF THE COLLATERAL OR ANY INTEREST THEREIN, (ii) RENT OR LEND EQUIPMENT TO ANYONE OR (iii) PERMIT EQUIPMENT TO BE USED BY ANYONE OTHER THAN BORROWER OR BORROWER’S AFFILIATES AND THEIR RESPECTIVE QUALIFIED EMPLOYEES. BORROWER ACKNOWLEDGES IT REMAINS PRIMARILY LIABLE FOR ALL OBLIGATIONS ARISING HEREUNDER NOTWITHSTANDING USE BY AN AFFILIATE.
Lease and Assignment. (a) EXCEPT AS EXPRESSLY PERMITTED UNDER SECTION 8 HEREOF, BORROWER SHALL NOT, WITHOUT KEF’S PRIOR WRITTEN CONSENT, (i) SELL, ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF THE COLLATERAL OR ANY INTEREST THEREIN, (ii) RENT OR LEND EQUIPMENT TO ANYONE OR (iii) PERMIT EQUIPMENT TO BE USED BY ANYONE OTHER THAN BORROWER OR BORROWER’S AFFILIATES AND THEIR RESPECTIVE QUALIFIED EMPLOYEES AND/OR CONTRACTORS. BORROWER ACKNOWLEDGES IT REMAINS PRIMARILY LIABLE FOR ALL OBLIGATIONS ARISING HEREUNDER NOTWITHSTANDING USE (DIRECTLY OR THROUGH A LEASE) BY AN AFFILIATE.
Lease and Assignment. Upon the terms and subject to the conditions of this Lease and subject to the Permitted Exceptions, the Lessor hereby leases and demises to the Lessee, and the Lessee hereby leases from the Lessor, the Assets and all appurtenances thereunto.
Lease and Assignment. (a) WITHOUT KEF'S PRIOR WRITTEN CONSENT, BORROWER -------------------- SHALL NOT (1) ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, THE EQUIPMENT OR ANY INTEREST THEREIN, OR ASSIGN OR DELEGATE ITS RIGHTS OR OBLIGATIONS UNDER THE LOAN DOCUMENTS, OR (2) LEASE OR LEND THE EQUIPMENT TO, OR PERMIT THE EQUIPMENT TO BE USED BY, ANYONE OTHER THAN BORROWER, EXCEPT FOR THOSE ENTITIES THAT HAVE ENTERED INTO A LICENSE AGREEMENT WITH BORROWER AND HAVE EXECUTED A LETTER AGREEMENT ALLOWING KEF TO ENTER THE PREMISES TO RETRIEVE THE EQUIPMENT.
Lease and Assignment. (a) WITHOUT KCL'S PRIOR WRITTEN CONSENT, BORROWER SHALL NOT (1) ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, THE EQUIPMENT OR ANY INTEREST THEREIN, OR ASSIGN OR DELEGATE ITS RIGHTS OR OBLIGATIONS UNDER THE LOAN DOCUMENTS, OR (2) LEASE OR LEND THE EQUIPMENT TO, OR PERMIT THE EQUIPMENT TO BE USED BY, ANYONE OTHER THAN BORROWER.
Lease and Assignment. (a) WITHOUT KCL'S PRIOR WRITTEN CONSENT, BORROWER SHALL NOT (i) ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, THE EQUIPMENT OR ANY INTEREST THEREIN, OR ASSIGN OR DELEGATE ITS RIGHTS OR OBLIGATIONS UNDER THE LOAN DOCUMENTS, OR (ii) LEASE OR LEND THE EQUIPMENT TO, OR PERMIT THE EQUIPMENT TO BE USED BY, ANYONE OTHER THAN BORROWER.
Lease and Assignment. (a) WITHOUT LENDER’S PRIOR WRITTEN CONSENT, BORROWER SHALL NOT (EXCEPT AS EXPRESSLY PERMITTED UNDER THE RELEVANT FIRST PREFERRED MORTGAGE) (i) ASSIGN, TRANSFER, PLEDGE, HYPOTHECATE OR OTHERWISE DISPOSE OF, THE EQUIPMENT OR ANY INTEREST THEREIN, AND BORROWER SHALL NOT ASSIGN OR DELEGATE ITS RIGHTS OR OBLIGATIONS UNDER THE LOAN DOCUMENTS, OR (ii) LEASE OR LEND OR CHARTER THE EQUIPMENT, IN EACH CASE, ON A DEMISE OR BAREBOAT BASIS, NOR PERMIT THE VESSELS TO BE OPERATED BY ANYONE OTHER THAN BORROWER OR BORROWER’S QUALIFIED EMPLOYEES AND BORROWER’S AFFILIATES, PROVIDED, HOWEVER, THAT Borrower shall ensure that none of the Vessels is traded, located, operated or used, directly or indirectly, in a Prohibited Jurisdiction or by a Prohibited Person, and no time or voyage charterer or shipper shall be a Prohibited Person or organized in a Prohibited Jurisdiction. For the avoidance of doubt, the forgoing is not intended to restrict Borrower’s ability to enter into time charters and voyage charters of the Vessels, provided that in respect of any charter entered into prior to or after the date hereof with respect to any Vessel in excess of twelve (12) calendar months (other than such charters terminable at will by the parties thereto), Borrower provides Lender with prompt, and in any event within thirty (30) days, written notice of such charter together with a copy thereof, provided further, that Borrower may enter into written charters of any duration with a Subsidiary, which shall be made expressly subordinate in all respects to the relevant First Preferred Mortgage and provided that such Subsidiary, at the same time, shall execute and deliver to the Lender a security interest assignment of any subcharters, contracts, freights, charter hire and earnings to which it may become entitled in respect of such Vessel, all in form and substance acceptable to Lender.
