Common use of Limitation Upon Encumbrance of Property Clause in Contracts

Limitation Upon Encumbrance of Property. Prior to the issuance of the Certificate of Completion, except for financing approved by HEDRA pursuant to Section 6.1(A)(11), Developer agrees not to engage in any financing creating any mortgage or other encumbrance or lien upon the Property or the Minimum Improvements, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attached to the Property or the Minimum Improvements, other than the liens or encumbrances directly and solely related to construction of the Minimum Improvements and approved by HEDRA, which approval shall not be withheld or delayed unreasonably if HEDRA determines that such lien or encumbrance will not threaten its security in the Property or the Minimum Improvements.

Limitation Upon Encumbrance of Property. Prior to the issuance of the Certificate of Completion, except for financing approved by HEDRA pursuant to Section 6.1(A)(115.1(A)(12), Developer Xxxxx agrees not to engage in any financing creating any mortgage or other encumbrance or lien upon the Property or the Minimum Improvements, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attached to the Property or the Minimum Improvements, other than the liens or encumbrances directly and solely related to construction of the Minimum Improvements and approved by HEDRA, which approval shall not be withheld or delayed unreasonably if HEDRA determines that such lien or encumbrance will not threaten its security in the Property or the Minimum Improvements. This Section 11 shall survive Closing.

Limitation Upon Encumbrance of Property. Prior to the issuance of the Certificate of Completion, except for financing approved by HEDRA pursuant to Section 6.1(A)(115.1(A)(11), Developer agrees not to engage in any financing creating any mortgage or other encumbrance or lien upon the Property or the Minimum Improvements, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attached to the Property or the Minimum Improvements, other than the liens or encumbrances directly and solely related to construction of the Minimum Improvements and approved by HEDRA, which approval shall not be withheld or delayed unreasonably if HEDRA determines that such lien or encumbrance will not threaten its security in the Property or the Minimum Improvements.