Leasehold Encumbrances. Tenant may mortgage Tenant’s interest under this Lease only if approved in advance, in writing, by the City Manager or his designee. In no event shall Tenant be permitted to mortgage the Real Property.
Leasehold Encumbrances. Without limiting Article 15 hereof, Tenant shall not Encumber this Lease or Xxxxxx’s interest in this Lease, or assign or pledge assignment of the same as security for any debt, without first obtaining the written consent of City, which City may give or withhold in its sole discretion.
Leasehold Encumbrances. Tenant shall have no right to encumber Tenant’s interest under this Lease or the leasehold estate created thereby.
Leasehold Encumbrances. Without limiting Article 15 hereof, Lessee shall not Encumber this Lease or Lessee’s interest in this Lease, or assign or pledge assignment of the same as security for any debt, without first obtaining the written consent of City, which City may give or withhold in its sole discretion.
Leasehold Encumbrances. (a) Lessee may encumber only its leasehold estate and its interest in the Lessee Improvements by execution and delivery of any leasehold mortgage. Authority will not subordinate its interest in the Premises or this Lease to any mortgage, including any leasehold mortgage. In the event of foreclosure of the leasehold mortgage by any mortgagee, the purchaser at the foreclosure sale or the person acquiring Xxxxxx’s interest in lieu of foreclosure, shall succeed, as lessee, to and be bound by all of Lessee’s rights, interests, duties, and obligations under this Lease. Notwithstanding the foregoing, no person other than the mortgagee shall have the right to become lessee under this Lease, and the interest of Lessee under this Lease shall not be conveyed to the purchaser at a foreclosure sale or to a person acquiring Lessee’s interest in lieu of foreclosure, without complying with the requirements of Section 13.6 below. In particular, any change in lessee pursuant to this Section shall be treated as an assignment or subletting pursuant to Section 13.6 below, such that the Annual Rent shall immediately apply to such successor lessee, which Annual Rent shall then be subject to future increases pursuant to the terms hereof.
Leasehold Encumbrances. Lessee shall not encumber by deed of trust, mortgage or other security instrument, all or a part of Xxxxxx’s interest under this Agreement without the advance and express written consent of City, and upon such terms and conditions as City may require. Any encumbrance existing as of the Lease Date shall be subject to all covenants, conditions, or restrictions set forth in this Agreement and to all rights and interests of City.
Leasehold Encumbrances. Without limiting Article 15 hereof, Lessee shall not Encumber this Lease or Lessee’s interest in this Lease, or assign or pledge assignment of the same as security for any debt, without first obtaining the written consent of City, which City may give or withhold in its sole discretion. [NOTE: Edit this provision if Lessee is responsible for maintaining insurance on the Improvements and for repairing/restoring following a casualty.] DAMAGE OR DESTRUCTION Damage or Destruction to the Improvements. If the Premises or the Improvements are damaged by fire or other casualty, then City shall repair the same (subject to the provisions of Section 14.2 below) provided that funds for such repairs are appropriated by City’s Board of Supervisors, in its sole discretion, for such purpose and provided further that such repairs can be made within two hundred ten (210) days after the date of such damage (the "Repair Period"). In the event such conditions are satisfied, this Lease shall remain in full force and effect except that Lessee shall be entitled to a proportionate reduction of Base Rent and Additional Charges during the period of such repairs based upon the extent to which such damage and the making of such repairs materially interferes with Lessee's use or occupancy of the Premises (except to the extent that the damage or destruction was caused by the negligence or intentional misconduct of Lessee or its Agents). City shall use good faith efforts to notify Lessee within ninety (90) days after the date of such damage whether or not such repairs can be made within the Repair Period, and City’s determination thereof shall be binding on Lessee. If City determines that such repairs cannot be made within the Repair Period, City shall have the option to notify Lessee of: (a) City’s intention to repair such damage and diligently prosecute such repairs to completion within a reasonable period after the Repair Period, subject to the Board of Supervisor’s appropriation of all necessary funds, in which event this Lease shall continue in full force and effect and the Base Rent and Additional Charges shall be reduced as provided herein; or (b) City’s election to terminate this Lease as of a date specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after notice is given by City. In case of termination, the Base Rent and Additional Charges shall be reduced as provided above, and Lessee shall pay such reduced Base Rent and Additiona...
Leasehold Encumbrances. Lessee shall not encumber by deed of trust, mortgage, or other security instrument, all or a part of Xxxxxx’s interest under this Agreement without the advance and express written consent of Lemoore, and upon such terms and conditions as Lemoore may require. Any encumbrance existing as of the Effective Date shall be subject to all covenants, conditions, or restrictions set forth in this Agreement and to all rights and interests of Lemoore.
Leasehold Encumbrances. Subject to CITY's prior written consent in each instance, which consent shall not be unreasonably withheld or conditioned , LESSEE may encumber LESSEE's leasehold estate by deed of trust or other security instrument to assure the payment of LESSEE's debts, upon the express condition that the proceeds of such loan or loans be devoted exclusively to capital expenditures for the purpose of developing, improving, repairing, refurbishing and/or maintaining the Premises or to finance such capital expenditures previously advanced by LESSEE. CITY's consent may be based in part on its determination that a loan does not exceed seventy five percent (75%) of the appraised value of the leasehold estate and that LESSEE's net operating income to be derived from the leasehold is adequate to service the debt and LESSEE's expenses, including without limitation the payment of rent under this Lease. Each such encumbrance shall be subject to all of the terms, covenants and conditions of this Lease, shall not be deemed to amend or alter any of the terms, covenants or conditions of this Lease, and shall be subordinate to CITY's fee interest in the Premises and any and all of CITY's encumbrances on that fee interest, now and in the future.
Leasehold Encumbrances. Subject to CITY’s written consent, LESSEE may encumber LESSEE’s leasehold estate by deed of trust or other security instrument to assure the payment of LESSEE’s debts, upon the express condition that the proceeds of such loan or loans be devoted exclusively to capital expenditures for the purpose of improving, repairing or maintaining the Premises. Each such encumbrance shall be subject to all of the terms, covenants and conditions of this Lease, shall not be deemed to amend or alter any of the terms, covenants or conditions of this Lease, and shall be subordinate to CITY’s fee interest in the Premises and any and all CITY encumbrances on that fee interest.
