Common use of Lessee’s Grants and Releases of Easements; Lessor’s Waivers Clause in Contracts

Lessee’s Grants and Releases of Easements; Lessor’s Waivers. Provided that no Event of Default shall have occurred and be continuing, and subject to the provisions of Articles VII, IX and X and Section 8.2, the Lessor hereby consents in each instance to the following actions by the Lessee in the name and stead of the Lessor and the Lessor hereby appoints the Lessee as the true and lawful attorney-in-fact of the Lessor with full power and authority to execute documents on behalf of the Lessor for the following purposes, but at the Lessee’s sole cost and expense: (a) the granting of, or entry into agreements in connection with, easements, licenses, rights-of-way, building and use restrictions and covenants and other rights and privileges in the nature of easements or similar interests and burdens reasonably necessary or desirable for the use, repair, maintenance or protection of the Leased Property as herein provided; (b) the release of existing easements or other rights in the nature of easements which are for the benefit of, or burden to, the Leased Property; (c) the execution of amendments to, or waivers or releases of, any easements, licenses or covenants and restrictions affecting the Leased Property; and (d) the filing and processing of any and all permit applications, authorizations, entitlements, agreements with any Governmental Authority or amendments thereof, or other documents reasonably required or beneficial for construction or installation of Modifications which could not reasonably be expected to adversely affect the rights of the Lessor, the Collateral Agent or any Lender under the Operative Documents; provided, however, that in each case (i) such grant, release, dedication, transfer, amendment, agreement or other action does not materially impair the value, utility, residual value or remaining useful life of the Subject Property, (ii) such grant, release, transfer, amendment, agreement or, other action in the Lessee’s judgment is, subject to Articles VIII, IX and X hereof, reasonably necessary or desirable in connection with the use, operation, repair, maintenance, alteration or improvement of the Leased Property, (iii) such grant, release, dedication, transfer, amendment, agreement or other action will not cause the Subject Property or any portion thereof to fail to comply with the provisions of this Lease or any other Operative Documents and all Applicable Laws (including, without limitation, all applicable zoning, planning, building and subdivision ordinances, all applicable restrictive covenants and all applicable architectural approval requirements); (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, amendment, agreement or other action have been obtained, and all filings with any Governmental Authorities required prior to such action have been made; (v) the Lessee shall remain obligated under this Lease and under any instrument executed by the Lessee consenting to the assignment of the Lessor’s interest in this Lease as security for indebtedness, in each such case in accordance with their terms, as though such grant, release, dedication, transfer, amendment, agreement or other action had not been effected; (vi) during the Term, the Lessee shall timely pay and perform any obligations of the Lessor under such grant, release, dedication, transfer, amendment, agreement or other action; and (vii) with respect to any action described in Section 11.2(a) through Section 11.2(d), inclusive, no such action described in such sections could reasonably be expected to have a Material Adverse Effect. Without limiting the effectiveness of the foregoing, provided, that no Default or Event of Default shall have occurred and be continuing, the Lessor shall, upon the request of the Lessee, and at the Lessee’s sole cost and expense, execute and deliver any instruments delivered to it that are necessary or appropriate to confirm any such grant, release, dedication, transfer, amendment, agreement or other action to any Person permitted under this Section.

Appears in 2 contracts

Samples: Trust and Security Agreement (Silicon Laboratories Inc), Trust and Security Agreement (Silicon Laboratories Inc)

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Lessee’s Grants and Releases of Easements; Lessor’s Waivers. Provided Following the Base Term Commencement Date and provided that no Event of Default shall have occurred and be continuingcontinuing at the time of the applicable action by the Lessee, and subject to the provisions of Articles VII, IX and X and Section 8.2, and without the requirement of any further instrument or action of Lessor, Lessor hereby consents in each instance to the following actions by the Lessee in the name and stead of the Lessor and the Lessor hereby appoints the Lessee as the true and lawful attorney-in-fact of the Lessor with full power and authority to execute documents on behalf of the Lessor for the following purposes, but at the Lessee’s sole cost and expense: (a) the granting of, or entry into agreements in connection with, easements, licenses, rights-of-way, building and use restrictions and covenants and other rights and privileges in the nature of easements or similar interests and burdens reasonably necessary or desirable for the use, repair, maintenance or protection of the Leased Property as herein provided; (b) the release of existing easements or other rights in the nature of easements which are for the benefit of, or burden to, the Leased Property; (c) the execution of amendments to, or waivers or releases of, any easements, licenses or covenants and restrictions affecting the Leased PropertySite; and (d) the filing exercise of all rights under any redevelopment agreement or document contemplated thereby affecting the Site and processing (e) the procurement, continuance, renewal and replacement of any all licenses, permits and all permit applicationsother authorizations required under Applicable Law to use, authorizationsoperate, entitlements, agreements with any Governmental Authority or amendments thereof, or other documents reasonably required or beneficial for construction or installation of Modifications which could not reasonably be expected to adversely affect maintain and develop the rights of the Lessor, the Collateral Agent or any Lender under the Operative DocumentsLeased Property; provided, however, that in each case (i) such grant, release, dedication, transfer, amendment, agreement or other action does not materially impair the valueFair Market Value, utility, residual value or remaining useful life of the Subject Leased Property, ; (ii) such grant, release, dedication, transfer, amendment, agreement or, or other action in the Lessee’s judgment is, subject to Articles VIII, IX and X hereof, is reasonably necessary or desirable in connection with the use, operation, repair, maintenance, alteration or improvement of the Leased Property, ; (iii) such grant, release, dedication, transfer, amendment, agreement or other action will not cause the Subject Leased Property or any portion thereof to fail to comply with the provisions of this Lease or any other Operative Documents and all or any Applicable Laws (including, without limitation, all applicable Environmental Laws, zoning, planning, building and subdivision ordinances, all any applicable restrictive covenants and all any applicable architectural approval requirements); (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, amendment, agreement or other action have been obtained, and all filings with any Governmental Authorities required prior to such action have been made; (v) the Lessee shall remain obligated under this Lease and under any instrument executed by the Lessee consenting to the assignment of the Lessor’s interest in this Lease as security for indebtedness, in each such case in accordance with their terms, as though such grant, release, dedication, transfer, amendment, agreement or other action had not been effected; (vi) during the Term, the Lessee shall timely pay and perform any obligations of the Lessor under such grant, release, dedication, transfer, amendment, agreement or other action; action and (vii) with respect to any action described in Section 11.2(a) through Section 11.2(d), inclusive, no such action described in such sections could reasonably be expected to have a Material Adverse Effect. Without limiting the effectiveness of the foregoing, provided, ; provided that no Default or Event of Default shall have occurred and be continuing, the Lessor shall, upon the request of the Lessee, and at the Lessee’s sole cost and expense, execute and deliver any instruments delivered to it that are necessary or appropriate to confirm any such grant, release, dedication, transfer, amendment, agreement or other action to any Person permitted under this Section. By undertaking any of the acts described in clauses (a) through (e) above, Lessee shall be deemed to have represented and warranted to each of the Participants that each such grant, release, dedication, transfer, amendment, agreement or other action complies with and Lessee has satisfied each of the requirements listed in clauses (i) through (vii) in the proviso above.

Appears in 2 contracts

Samples: Lease and Remedies Agreement (Regeneron Pharmaceuticals Inc), Lease and Remedies Agreement (Regeneron Pharmaceuticals Inc)

Lessee’s Grants and Releases of Easements; Lessor’s Waivers. Provided Following the Base Term Commencement Date and provided that no Event of Default shall have occurred and be continuingcontinuing at the time of the applicable action by the Lessee, and subject to the provisions of Articles VII, IX and X and Section 8.2, and without the requirement of any further instrument or action of Lessor, Lessor hereby consents in each instance to the following actions by the Lessee in the name and stead of the Lessor and the Lessor hereby appoints the Lessee as the true and lawful attorney-in-fact of the Lessor with full power and authority to execute documents on behalf of the Lessor for the following purposes, but at the Lessee’s sole cost and expense: (a) the granting of, or entry into agreements in connection with, easements, licenses, rights-of-way, building and use restrictions and covenants and other rights and privileges in the nature of easements or similar interests and burdens reasonably necessary or desirable for the use, repair, maintenance maintenance, alteration, improvement or protection of the Leased Property as herein provided; (b) the release of existing easements or other rights in the nature of easements which are for the benefit of, or burden to, the Leased Property; (c) the execution of amendments to, or waivers or releases of, any easements, licenses or covenants and restrictions affecting the Leased PropertySite; and (d) the filing exercise of all rights under any redevelopment agreement or document contemplated thereby affecting the Site and processing (e) the procurement, continuance, renewal and replacement of any all licenses, permits and all permit applicationsother authorizations required under Applicable Law to use, authorizationsoperate, entitlements, agreements with any Governmental Authority or amendments thereof, or other documents reasonably required or beneficial for construction or installation of Modifications which could not reasonably be expected to adversely affect maintain and develop the rights of the Lessor, the Collateral Agent or any Lender under the Operative DocumentsLeased Property; provided, however, that in each case (i) such grant, release, dedication, transfer, amendment, agreement or other action does not materially impair adversely affect the valueFair Market Value, utility, residual value or remaining useful life of the Subject Leased Property, ordinary wear and tear excepted; (ii) such grant, release, dedication, transfer, amendment, agreement or, or other action in the Lessee’s judgment is, subject to Articles VIII, IX and X hereof, is reasonably necessary or desirable in connection with the use, operation, repair, maintenance, alteration alteration, improvement or improvement protection of the Leased Property, ; (iii) such grant, release, dedication, transfer, amendment, agreement or other action will not cause the Subject Leased Property or any portion thereof to fail to comply with the provisions of this Lease or any other Operative Documents and all or any Applicable Laws (including, without limitation, all applicable Environmental Laws, zoning, planning, building and subdivision ordinances, all any applicable restrictive covenants and all any applicable architectural approval requirements); (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, amendment, agreement or other action have been obtained, and all filings with any Governmental Authorities required prior to such action have been made; (v) the Lessee shall remain obligated under this Lease and under any instrument executed by the Lessee consenting to the assignment of the Lessor’s interest in this Lease as security for indebtedness, in each such case in accordance with their terms, as though such grant, release, dedication, transfer, amendment, agreement or other action had not been effected; (vi) during the Term, the Lessee shall timely pay and perform any obligations of the Lessor under such grant, release, dedication, transfer, amendment, agreement or other action; action and (vii) with respect to any action described in Section 11.2(a) through Section 11.2(d), inclusive, no such action described in such sections could would reasonably be expected to have a Material Adverse Effect. Without limiting the effectiveness of the foregoing, provided, ; provided that no Default or Event of Default shall have occurred and be continuing, the Lessor shall, upon the request of the Lessee, and at the Lessee’s sole cost and expense, execute and deliver any instruments delivered to it that are necessary or appropriate to confirm any such grant, release, dedication, transfer, amendment, agreement or other action to any Person permitted under this Section. By undertaking any of the acts described in clauses (a) through (e) above, Lessee shall be deemed to have represented and warranted to each of the Participants that each such grant, release, dedication, transfer, amendment, agreement or other action complies with and Lxxxxx has satisfied each of the requirements listed in clauses (i) through (vii) in the proviso above.

Appears in 1 contract

Samples: Lease and Remedies Agreement (Regeneron Pharmaceuticals, Inc.)

Lessee’s Grants and Releases of Easements; Lessor’s Waivers. Provided that no Event of Default arising under Section 17.1 shall have occurred and be continuing and provided that the Lessor shall not have commenced its exercise of remedies with respect to any other Event of Default hereunder that shall have occurred and be continuing, and subject to the provisions of Articles VII, IX IX, and X and Section 8.28.3, the Lessor hereby consents in each instance to the following actions by the Lessee Lessee, in the name and stead of the Lessor and the Lessor hereby appoints the Lessee as the true and lawful attorney-in-fact of the Lessor with full power and authority to execute documents on behalf of the Lessor for the following purposes, but at the Lessee’s sole cost and expense: (a) the granting of, or entry into agreements in connection with, easements, licenses, rights-of-way, building and use restrictions and covenants and other rights and privileges in the nature of easements or similar interests and burdens reasonably necessary or desirable for the use, repair, maintenance or protection of the Leased Real Property as herein provided; (b) if required by any applicable governmental authority in connection with the release construction, the dedication or transfer of existing easements unimproved portions of the Real Property for road, highway or other rights in the nature of easements which are for the benefit of, or burden to, the Leased Propertypublic purposes; (c) the seeking of any zoning variances or modifications to existing zoning; or (d) the execution of amendments to, or waivers or releases of, any easements, licenses or covenants and restrictions affecting the Leased Real Property; and (d) the filing and processing of any and all permit applications, authorizations, entitlements, agreements with any Governmental Authority or amendments thereof, or other documents reasonably required or beneficial for construction or installation of Modifications which could not reasonably be expected to adversely affect the rights of the Lessor, the Collateral Agent or any Lender under the Operative Documents; provided, however, that in each case (i) such grant, release, dedication, transfer, amendment, agreement or other action actions does not materially impair the value, utility, residual value or remaining useful life of the Subject Real Property, ; (ii) such grant, release, dedication, transfer, amendment, agreement or, or other action in the Lessee’s judgment is, subject to Articles VIII, IX and X hereof, is reasonably necessary or desirable in connection with the use, operation, repair, maintenance, alteration or improvement of the Leased Real Property, ; (iii) such grant, release, dedication, transfer, amendment, agreement or other action will not cause the Subject Real Property or any portion thereof to fail to comply with the provisions of this Lease or any other Operative Documents and all Applicable Laws Law (including, without limitation, all applicable zoning, planning, building and subdivision ordinances, all applicable restrictive covenants and all applicable architectural approval requirements); (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, amendment, agreement or other action have been obtained, and all filings with any Governmental Authorities required prior to such action have been made; (v) the Lessee shall remain obligated under this Lease and under any instrument executed by the Lessee consenting to the assignment of the Lessor’s interest in this Lease as security for indebtedness, in each such case in accordance with their terms, as though such grant, release, dedicationdecision, transfer, amendment, agreement or other action had not been be effected; and (vi) during the Term, the Lessee shall timely pay and perform any obligations of the Lessor under such grant, release, dedication, transfer, amendment, agreement or other action; . The Lessor acknowledges the Lessee’s right to finance and (vii) with respect to secure under the Uniform Commercial Code, inventory, furnishings, furniture, equipment, machinery, leasehold improvement and other personal property located at the Real Property, and the Lessor agrees to execute Lessor waiver forms and release of Lessor’s landlord’s liens in favor of any action described purchase money seller, lessor or lender which has financed or may finance in Section 11.2(a) through Section 11.2(d), inclusive, no the future such action described in such sections could reasonably be expected to have a Material Adverse Effectitems. Without limiting the effectiveness of the foregoing, provided, provided that no Default or Event of Default arising under Section 17.1 shall have occurred and be continuing and provided that the Lessor shall not have commenced its exercise of remedies with respect to any other Event of Default hereunder that shall have occurred and be continuing, the Lessor shall, upon the request of the Lessee, and at the Lessee’s sole cost and expense, execute and deliver any instruments delivered to it that are necessary or appropriate to confirm any such grant, release, dedication, transfer, amendment, agreement or other action to any Person person or entity permitted under this SectionSection 11.2, including landlord waivers with respect to any of the foregoing.

Appears in 1 contract

Samples: Bill of Sale (American Woodmark Corp)

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Lessee’s Grants and Releases of Easements; Lessor’s Waivers. Provided Following the Base Term Commencement Date and provided that no Event of Default shall have occurred and be continuing, and subject to the provisions of Articles VII, IX and X and Section 8.2, and without the requirement of any further instrument or action of Lessor, Lessor hereby consents in each instance to the following actions by the Lessee in the name and stead of the Lessor and the Lessor hereby appoints the Lessee as the true and lawful attorney-in-fact attorney‑in‑fact of the Lessor with full power and authority to execute documents on behalf of the Lessor for the following purposes, but at the Lessee’s sole cost and expense: (a) the granting of, or entry into agreements in connection with, easements, licenses, rights-of-wayrights‑of‑way, building and use restrictions and covenants and other rights and privileges in the nature of easements or similar interests and burdens reasonably necessary or desirable for the use, repair, maintenance maintenance, alteration, improvement or protection of the Leased Property as herein provided; (b) the release of existing easements or other rights in the nature of easements which are for the benefit of, or burden to, the Leased Property; (c) the execution of amendments to, or waivers or releases of, any easements, licenses or covenants and restrictions affecting the Leased PropertySite; and (d) the filing and processing exercise of all rights under any and all permit applications, authorizations, entitlements, agreements with any Governmental Authority redevelopment agreement or amendments thereof, or other documents reasonably required or beneficial for construction or installation of Modifications which could not reasonably be expected to adversely affect document contemplated thereby affecting the rights of the Lessor, the Collateral Agent or any Lender under the Operative DocumentsSite; provided, however, that in each case (i) such grant, release, dedication, transfer, amendment, agreement or other action does not materially impair the valueFair Market Value, utility, residual value or remaining useful life of the Subject Leased Property, ; (ii) such grant, release, dedication, transfer, amendment, agreement or, or other action in the Lessee’s judgment is, subject to Articles VIII, IX and X hereof, is reasonably necessary or desirable in connection with the use, operation, repair, maintenance, alteration alteration, protection or improvement of the Leased Property, ; (iii) such grant, release, dedication, transfer, amendment, agreement or other action will not cause the Subject Leased Property or any portion thereof to fail to comply with the provisions of this Lease or any other Operative Documents and all Applicable Laws (including, without limitation, all applicable Environmental Laws, zoning, planning, building ‑15‑ and subdivision ordinances, all applicable restrictive covenants and all applicable architectural approval requirements); (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, amendment, agreement or other action have been obtained, and all filings with any Governmental Authorities required prior to such action have been made; (v) the Lessee shall remain obligated under this Lease and under any instrument executed by the Lessee consenting to the assignment of the Lessor’s interest in this Lease as security for indebtedness, in each such case in accordance with their terms, as though such grant, release, dedication, transfer, amendment, agreement or other action had not been effected; (vi) during the Term, the Lessee shall timely pay and perform any obligations of the Lessor under such grant, release, dedication, transfer, amendment, agreement or other action; action and Lessor shall have no liability or indemnity obligation thereunder and (vii) with respect to any action described in Section 11.2(a) through Section 11.2(d), inclusive, no such action described in such sections could reasonably be expected to have a Material Adverse EffectEffect pursuant to clauses (d), (e), (f) or (g) of the the definition thereof. Without limiting the effectiveness of the foregoing, provided, ; provided that no Default or Event of Default shall have occurred and be continuing, the Lessor shall, upon the request of the Lessee, and at the Lessee’s sole cost and expense, execute and deliver any instruments delivered to it that are necessary or appropriate to confirm any such grant, release, dedication, transfer, amendment, agreement or other action to any Person permitted under this Section. By undertaking any of the acts described in clauses (a) through (d) above, Lessee shall be deemed to have represented and warranted to each of the Participants that each such grant, release, dedication, transfer, amendment, agreement or other action complies with and Lessee has satisfied each of the requirements listed in items (i) through (vi) of clause (d) above.

Appears in 1 contract

Samples: Debt and Security Agreement (Norfolk Southern Corp)

Lessee’s Grants and Releases of Easements; Lessor’s Waivers. Provided Following the Base Term Commencement Date and provided that no Event of Default shall have occurred and be continuingcontinuing at the time of the applicable action by the Lessee, and subject to the provisions of Articles VII, IX and X and Section 8.2, and without the requirement of any further instrument or action of Lessor, Lessor hereby consents in each instance to the following actions by the Lessee in the name and stead of the Lessor and the Lessor hereby appoints the Lessee as the true and lawful attorney-in-fact of the Lessor with full power and authority to execute documents on behalf of the Lessor for the following purposes, but at the Lessee’s sole cost and expense: (a) the granting of, or entry into agreements in connection with, easements, licenses, rights-of-way, building and use restrictions and covenants and other rights and privileges in the nature of easements or similar interests and burdens reasonably necessary or desirable for the use, repair, maintenance maintenance, alteration, improvement or protection of the Leased Property as herein provided; (b) the release of existing easements or other rights in the nature of easements which are for the benefit of, or burden to, the Leased Property; (c) the execution of amendments to, or waivers or releases of, any easements, licenses or covenants and restrictions affecting the Leased PropertySite; and (d) the filing exercise of all rights under any redevelopment agreement or document contemplated thereby affecting the Site and processing (e) the procurement, continuance, renewal and replacement of any all licenses, permits and all permit applicationsother authorizations required under Applicable Law to use, authorizationsoperate, entitlements, agreements with any Governmental Authority or amendments thereof, or other documents reasonably required or beneficial for construction or installation of Modifications which could not reasonably be expected to adversely affect maintain and develop the rights of the Lessor, the Collateral Agent or any Lender under the Operative DocumentsLeased Property; provided, however, that in each case (i) such grant, release, dedication, transfer, amendment, agreement or other action does not materially impair adversely affect the valueFair Market Value, utility, residual value or remaining useful life of the Subject Leased Property, ordinary wear and tear excepted; (ii) such grant, release, dedication, transfer, amendment, agreement or, or other action in the Lessee’s judgment is, subject to Articles VIII, IX and X hereof, is reasonably necessary or desirable in connection with the use, operation, repair, maintenance, alteration alteration, improvement or improvement protection of the Leased Property, ; (iii) such grant, release, dedication, transfer, amendment, agreement or other action will not cause the Subject Leased Property or any portion thereof to fail to comply with the provisions of this Lease or any other Operative Documents and all or any Applicable Laws (including, without limitation, all applicable Environmental Laws, zoning, planning, building and subdivision ordinances, all any applicable restrictive covenants and all any applicable architectural approval requirements); (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, amendment, agreement or other action have been obtained, and all filings with any Governmental Authorities required prior to such action have been made; (v) the Lessee shall remain obligated under this Lease and under any instrument executed by the Lessee consenting to the assignment of the Lessor’s interest in this Lease as security for indebtedness, in each such case in accordance with their terms, as though such grant, release, dedication, transfer, amendment, agreement or other action had not been effected; (vi) during the Term, the Lessee shall timely pay and perform any obligations of the Lessor under such grant, release, dedication, transfer, amendment, agreement or other action; action and (vii) with respect to any action described in Section 11.2(a) through Section 11.2(d), inclusive, no such action described in such sections could reasonably be expected to have a Material Adverse Effect. Without limiting the effectiveness of the foregoing, provided, ; provided that no Default or Event of Default shall have occurred and be continuing, the Lessor shall, upon the request of the Lessee, and at the Lessee’s sole cost and expense, execute and deliver any instruments delivered to it that are necessary or appropriate to confirm any such grant, release, dedication, transfer, amendment, agreement or other action to any Person permitted under this Section. By undertaking any of the acts described in clauses (a) through (e) above, Lessee shall be deemed to have represented and warranted to each of the Participants that each such grant, release, dedication, transfer, amendment, agreement or other action complies with and Lessee has satisfied each of the requirements listed in clauses (i) through (vii) in the proviso above.

Appears in 1 contract

Samples: Lease and Remedies Agreement (Regeneron Pharmaceuticals, Inc.)

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