Common use of Modifications; Surrender Clause in Contracts

Modifications; Surrender. Except in connection with exercising the City's remedies following an Event of Default for which any Company Mortgagee(s) has received notice and been afforded any applicable cure periods hereunder as set forth in this Section 7, the City may not accept any surrender of or agree to any termination of this Agreement without the prior written consent thereto by any Company Mortgagee(s). Any attempt to do so without such written consent will be void and of no force and effect. The City may (in its sole and absolute discretion) modify this Agreement from time to time for the purpose of incorporating herein such additional mortgagee protective provisions as may be reasonably requested by any Company Mortgagee if such modifications are reasonably acceptable to the City, impose no additional material obligations on the City or restrict any of the City's rights hereunder (including restricting remedies following an Event of Default), and are not inconsistent with any of the monetary terms of this Agreement or standards of performance set forth herein. Notwithstanding any provision in this Agreement to the contrary, the City is under no obligation to modify, amend or revise the terms of this Agreement, and its failure to do so, regardless of reason or lack thereof, shall not be a breach of this Agreement, and shall neither excuse the Company’s performance under this Agreement, nor give rise to any claim, defense or offset by or on behalf of the Company.

Modifications; Surrender. Except in connection with exercising the City's remedies following an Event of Default for which any Company Mortgagee(s) has received notice and been afforded any applicable cure periods hereunder as set forth in this Section 7XVII, the City may not accept any surrender of or agree to any termination of this Agreement without the prior written consent thereto by any Company Mortgagee(s). Any attempt to do so without such written consent will be void and of no force and effect. The City may (in its sole and absolute discretion) modify this Agreement from time to time for the purpose of incorporating herein such additional mortgagee protective provisions as may be reasonably requested by any Company Mortgagee if such modifications are reasonably acceptable to the City, impose no additional material obligations on the City or restrict any of the City's rights hereunder (including restricting remedies following an Event of Default), and are not inconsistent with any of the monetary terms of this Agreement or standards of performance set forth herein. Notwithstanding any provision in this Agreement to the contrary, the City is under no obligation to modify, amend or revise the terms of this Agreement, and its failure to do so, regardless of reason or lack thereof, shall not be a breach of this Agreement, and shall neither excuse the Company’s performance under this Agreement, nor give rise to any claim, defense or offset by or on behalf of the Company.

Modifications; Surrender. Except in connection with exercising the City's remedies following an Event of Default for which any Company Mortgagee(s) has received notice and been afforded any applicable cure periods hereunder as set forth in this Section 75, the City may not accept any surrender of or agree to any termination of this Agreement without the prior written consent thereto by any Company Mortgagee(s). Any attempt to do so without such written consent will be void and of no force and effect. The City may (in its sole and absolute discretion) modify this Agreement from time to time for the purpose of incorporating herein such additional mortgagee protective provisions as may be reasonably requested by any Company Mortgagee if such modifications are reasonably acceptable to the City, impose no additional material obligations on the City or restrict any of the City's rights hereunder (including restricting remedies following an Event of Default), and are not inconsistent with any of the monetary terms of this Agreement or standards of performance set forth herein. Notwithstanding any provision in this Agreement to the contrary, the City is under no obligation to modify, amend or revise the terms of this Agreement, and its failure to do so, regardless of reason or lack thereof, shall not be a breach of this Agreement, and shall neither excuse the Company’s performance under this Agreement, nor give rise to any claim, defense or offset by or on behalf of the Company.