Limitation of Developer’s and First Choice Parties’ Authority Sample Clauses

Limitation of Developer’s and First Choice Parties’ Authority. Except as specifically approved in writing by MPT, or as expressly set forth herein, neither the Developer nor either First Choice Party shall have authority to bind MPT in any matters regarding the Project. The Developer’s and the First Choice Parties’ actual authority hereunder is limited by this Agreement. Neither the Developer nor the First Choice Parties shall undertake or permit any development of or construction on the Property or Improvements, engage the services of any contractor, architect, engineer, consultant or other third party, engage a vendor or supplier, expend any funds or incur any debt in connection with the development and construction of the Project or the performance of any other obligation under this Agreement or in connection with the Project, unless either (i) the action shall have been expressly authorized in this Agreement and can be completed within the limits of the Development Budget and the time periods set by the Development Schedule, or (ii) the action is approved by MPT in writing prior to taking such action; provided, however, the foregoing shall not apply to the Architect Agreement entered into by First Choice prior to the date hereof that is substantially in accordance with a form approved by MPT (as such form may have been modified as reasonably directed by MPT) and subject to the Assignment of Third Party Agreements.
Sample 1
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