Common use of More Restrictive Agreements Clause in Contracts

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 and §9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the Guarantors, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 and §9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority BanksRequired Lenders, the Borrower, the Guarantors, the Agent and the Majority Banks Required Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Required Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 7.25 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 ARTICLE VI and §9 ARTICLE VII of this Agreement or the Guaranty, the Borrower shall promptly notify the Administrative Agent and, if requested by the Majority BanksRequired Lenders, the Borrower, the Guarantors, the Administrative Agent and the Majority Banks Required Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Required Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Administrative Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Administrative Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 5.18 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Borrower or any of their respective Subsidiaries Subsidiary Guarantor after the date hereof enter into any agreement or modify any agreements or documents pertaining existing agreement (a “More Restrictive Agreement”) relating to any existing unsecured Indebtedness of Borrower or future Indebtedness, Debt Offering any Subsidiary Guarantor that includes negative covenants or Equity Offering, which agreements or documents include covenants, whether affirmative or negative default provisions (or any other provision which may have the same practical effect as any of the foregoing), effect) which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Borrower or their respective Subsidiaries any Subsidiary Guarantor than those set forth in §8 and §9 Section 8, Section 9.1(g) or Section 9.1(j) of this Agreement or (the Guaranty“Original Provisions”), the Borrower shall promptly notify the Administrative Agent and, if requested by the Majority BanksRequired Lenders, the Borrower, the GuarantorsAdministrative Agent, and the Required Lenders shall (and if applicable, the Agent and the Majority Banks Borrower shall cause any Subsidiary Guarantor to) promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Required Lenders in their sole discretion. Each of the The Borrower and Guarantors each Subsidiary Guarantor agree to deliver to the Administrative Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries such Indebtedness as the Administrative Agent from time to time may request. Notwithstanding the foregoing, this §7.16 shall not apply any amendments to covenants provisions contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating this Agreement and the other Loan Documents made pursuant to Recourse Indebtedness that relate this Section 7.13 shall only to specific Real Estate that is collateral be effective for such Indebtednessperiod of time as the applicable More Restrictive Agreement is in full force and effect (or continues to be more restrictive), and upon the termination of the effectiveness of such More Restrictive Agreement (or upon such More Restrictive Agreement becoming less restrictive than the corresponding Original Provision), the provisions affected by such amendment shall return to the applicable Original Provisions.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 and §9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority BanksLenders, the Borrower, the Guarantors, the Agent and the Majority Banks Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 7.25 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 and §9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority BanksLenders, the Borrower, the Guarantors, the Agent and the Majority Banks Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 7.22 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Borrower or any of their respective Subsidiaries Subsidiary Guarantor after the date hereof enter into any agreement or modify any agreements or documents pertaining existing agreement (a “More Restrictive Agreement”) relating to any existing unsecured Indebtedness of Borrower or future Indebtedness, Debt Offering any Subsidiary Guarantor that includes negative covenants or Equity Offering, which agreements or documents include covenants, whether affirmative or negative default provisions (or any other provision which may have the same practical effect as any of the foregoing), effect) which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Borrower or their respective Subsidiaries any Subsidiary Guarantor than those set forth in §8 and §9 Section 9, Section 9.1(g) or Section 9.1(j) of this Agreement or (the Guaranty“Original Provisions”), the Borrower shall promptly notify the Administrative Agent and, if requested by the Majority BanksRequired Lenders, the Borrower, the GuarantorsAdministrative Agent, and the Required Lenders shall (and if applicable, the Agent and the Majority Banks Borrower shall cause any Subsidiary Guarantor to) promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Required Lenders in their sole discretion. Each of the The Borrower and Guarantors each Subsidiary Guarantor agree to deliver to the Administrative Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries such Indebtedness as the Administrative Agent from time to time may request. Notwithstanding the foregoing, this §7.16 shall not apply any amendments to covenants provisions contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating this Agreement and the other Loan Documents made pursuant to Recourse Indebtedness that relate this Section 7.13 shall only to specific Real Estate that is collateral be effective for such Indebtednessperiod of time as the applicable More Restrictive Agreement is in full force and effect (or continues to be more restrictive), and upon the termination of the effectiveness of such More Restrictive Agreement (or upon such More Restrictive Agreement becoming less restrictive than the corresponding Original Provision), the provisions affected by such amendment shall return to the applicable Original Provisions.

More Restrictive Agreements. Should the Borrower, the Guarantors any Guarantor or any of their respective Subsidiaries after the date hereof enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering Indebtedness or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 and §9 Article VIII of this Agreement or the GuarantyAgreement, the Borrower shall promptly notify the Agent and, if requested by the Majority BanksLenders, the Borrower, the Guarantors, the Agent and the Majority Banks Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions (for only such time as such Indebtedness or Equity Offering restrictions remain in place) as determined by the Majority Banks Lenders in their sole discretion. Each of the The Borrower and Guarantors agree agrees to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering Indebtedness or Equity Offering of the Borrower, the any Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth in §Section 8 and §Section 9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsAgent, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors Guarantor agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 7.17 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Borrowers or any Guarantor, while this Agreement is in effect or any Note remains unpaid or any Letter of their respective Subsidiaries Credit remains outstanding, enter into into, refinance or modify any agreements or the relevant documents pertaining to any existing or future IndebtednessIndebtedness for money borrowed which constitutes revolving credit, Debt Offering in an amount exceeding $20,000,000 in aggregate amount to any lender or Equity Offeringgroup of lenders acting in concert with one another, pursuant to a loan agreement, credit agreement, note purchase agreement, indenture or other similar instrument, which agreements or documents include instrument includes covenants, whether affirmative warranties, representations, or negative defaults or events of default (or any other provision type of restriction which may would have the same practical effect as of any of the foregoing), which are individually including, without limitation, any "put" or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries mandatory prepayment of such debt) other than those set forth herein or in §8 and §9 any of this Agreement or the Guarantyother Loan Documents, the Borrower Borrowers shall promptly so notify the Agent and, if requested the Agent, in the discretion of the Agent, shall so request by written notice to the Majority BanksBorrowers, the Borrower, the GuarantorsBorrowers, the Agent and the Majority Banks Requisite Lenders (in their sole discretion and based on their respective independent credit judgment, and subject to Section 12.6) shall (and Borrowers shall cause the Guarantors to, as applicable) promptly amend this Agreement and the other Loan Documents to include incorporate some or all of such more restrictive provisions as determined by into this Agreement and, to the Majority Banks extent necessary and reasonably desirable to the Agent and the Requisite Lenders (in their sole discretion. Each discretion and based on their respective independent credit judgment), into any of the Borrower other Loan Documents, all at the election of the Agent; provided, however, that any such amendment shall provide that, upon cancellation or termination of the loan agreement, credit agreement, note purchase agreement, indenture or other instrument pertaining to such other revolving credit (other than by reason of an event of default thereunder), so long as no Default or Event of Default is in existence, such amendment also shall terminate and Guarantors agree to deliver the provisions of this Agreement affected by such amendment shall revert to the Agent copies of any agreements or documents (or modifications thereof) pertaining terms thereof as in effect prior to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time giving effect to time may requestsuch amendment. Notwithstanding the foregoing, this §7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such IndebtednessARTICLE VIII.

More Restrictive Agreements. Should Promptly notify the Borrower, the Guarantors Administrative Agent should any Loan Party or any Subsidiary of their respective Subsidiaries a Loan Party enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offeringissuance of Preferred Equity, which agreements or documents include covenants, whether affirmative or negative negative, which are individually or in the aggregate more restrictive as to the matters covered by the provisions of Sections 6.1, 6.3, 6.5 through 6.13, inclusive, and 6.15 (or any other provision provisions which may have the same practical effect as any of the foregoing), which are individually or in ) against any of the aggregate more restrictive against the Borrower, the Guarantors Loan Parties or their respective Subsidiaries than those set forth in §8 and §9 herein, or which provide for a guaranty of this Agreement or the Guaranty, obligations thereunder by a Person that is not liable for the Borrower shall promptly notify the Agent and, if Obligations. If requested by the Majority BanksRequisite Lenders, the BorrowerLoan Parties, the GuarantorsAdministrative Agent, the Agent and the Majority Banks Requisite Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions or provide for a guaranty of the Obligations by such Person, in each case solely for the duration of such restrictive provisions or guaranties under such other agreements or documents, as determined by the Majority Banks Requisite Lenders in their sole reasonable discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 5.15 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to a specific Real Estate Project that is collateral for such Indebtednessany existing or future Indebtedness of any of Borrower or their Subsidiaries that is permitted by the terms of this Agreement.

More Restrictive Agreements. Should the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth in §8 ss.8 and §9 ss.9 of this Agreement or the GuarantyAgreement, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsAgent, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors Guarantor agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 ss.7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 and §9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the Guarantors, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.. 77

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 ARTICLE VI and §9 ARTICLE VII of this Agreement or the Guaranty, the Borrower shall promptly notify the Administrative Agent and, if requested by the Majority BanksRequired Lenders, the Borrower, the Guarantors, the Administrative Agent and the Majority Banks Required Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Required Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Administrative Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Administrative Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 5.18 shall not apply to covenants contained in any agreements 77 or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should Promptly notify the Borrower, the Guarantors Administrative Agent should any Loan Party or any Subsidiary of their respective Subsidiaries a Loan Party enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offeringissuance of Preferred Equity, which agreements or documents include covenants, whether affirmative or negative negative, which are individually or in the aggregate more restrictive as to the matters covered by the provisions of Sections 13.1, 13.3, 13.5 through 13.13, inclusive, and 13.15 (or any other provision provisions which may have the same practical effect as any of the foregoing), which are individually or in ) against any of the aggregate more restrictive against the Borrower, the Guarantors Loan Parties or their respective Subsidiaries than those set forth in §8 and §9 herein, or which provide for a guaranty of this Agreement or the Guaranty, obligations thereunder by a Person that is not liable for the Borrower shall promptly notify the Agent and, if Obligations. If requested by the Majority BanksRequisite Lenders, the BorrowerLoan Parties, the GuarantorsAdministrative Agent, the Agent and the Majority Banks Requisite Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions or provide for a guaranty of the Obligations by such Person, in each case solely for the duration of such restrictive provisions or guaranties under such other agreements or documents, as determined by the Majority Banks Requisite Lenders in their sole reasonable discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 12.18 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to a specific Real Estate Project that is collateral for such Indebtednessany existing or future Indebtedness of any of Loan Party or their Subsidiaries that is permitted by the terms of this Agreement.

More Restrictive Agreements. Should the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth in §Section 8 and §Section 9 of this Agreement or the Guaranty, the Borrower shall shAll promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsAgent, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors Guarantor agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §Section 7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should Without limiting the Borrowerterms of Section 8.1, should the Guarantors Borrower or any of their respective Subsidiaries Guarantor enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, covenants (whether affirmative or negative negative), warranties, representations, defaults or events of default (or any other provision which may have the same practical effect as any of the foregoing), ) which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth herein or in §8 and §9 any of this Agreement or the Guarantyother Loan Documents, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsAgent, the Agent and the Majority Banks shall (and if applicable, the Borrower shall cause the Guarantor to) promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 7.17 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth in §Section 8 of this Agreement, Section 8 and §Section 9 of this the Secured Revolving Credit Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsGuarantor, the Agent Agent, and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors Guarantor agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §Section 7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Enter into or modify any agreements or documents or permit or allow any of their respective its Subsidiaries to enter into or modify any agreements or documents in each case pertaining to any existing or future IndebtednessUnsecured Indebtedness of such Loan Party or such Subsidiaries, Debt Offering or Equity Offering, which if such agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Loan Parties or their respective Subsidiaries than those set forth in §8 Section 5.02(f)(iv), 5.02(g), 5.02(m), 5.02(o) or 5.04 (and §9 including for the purposes hereof, all definitions used in or relating to such sections or definitions) of this Agreement or Agreement, unless the GuarantyLoan Parties, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the Guarantors, the Administrative Agent and the Majority Banks Required Lenders shall promptly amend have simultaneously amended this Agreement and the other Loan Documents to include some or all of such more restrictive provisions provisions. Notwithstanding the foregoing, it is acknowledged and agreed that the 2018 Term Loan Agreement as determined by in effect on the Majority Banks Closing Date shall not be in their sole discretionviolation of this Section 5.02(v); provided that any future amendment, restatement or other modification or refinancing of the 2018 Term Loan Agreement shall be required to comply with the requirements set forth herein. Each of the Borrower and Guarantors agree Loan Parties agrees to deliver to the Administrative Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering Unsecured Indebtedness of the Borrower, the Guarantors or any of Loan Parties and their respective Subsidiaries as the Administrative Agent from time to time may request. Notwithstanding For purposes of this Section 5.02(v), at all times prior to the foregoing, this §7.16 Collateral Release Date the term Unsecured Indebtedness shall not apply to covenants contained in include any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate is secured only to specific Real Estate that is collateral for such Indebtednessby a pledge of Equity Interests and related assets. SECTION 5.03.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §7.16, §8 and §9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority BanksLenders, the Borrower, the Guarantors, the Agent and the Majority Banks Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 7.22 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should Promptly notify the Borrower, the Guarantors Administrative Agent should any Loan Party or any Subsidiary of their respective Subsidiaries a Loan Party enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offeringissuance of Preferred Equity, which agreements or documents include covenants, whether affirmative or negative negative, which are individually or in the aggregate more restrictive as to the matters covered by the provisions of Sections 13.1, 13.3, 13.5 through 13.9, inclusive (or any other provision provisions which may have the same practical effect as any of the foregoing), which are individually or in ) against any of the aggregate more restrictive against the Borrower, the Guarantors Loan Parties or their respective Subsidiaries than those set forth in §8 and §9 herein, or which provide for a guaranty of this Agreement or the Guaranty, obligations thereunder by a Person that is not liable for the Borrower shall promptly notify the Agent and, if Obligations. If requested by the Majority BanksRequisite Lenders, the BorrowerLoan Parties, the GuarantorsAdministrative Agent, the Agent and the Majority Banks Requisite Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions or provide for a guaranty of the Obligations by such Person, in each case solely for the duration of such restrictive provisions or guaranties under such other agreements or documents, as determined by the Majority Banks Requisite Lenders in their sole reasonable discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 12.18 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to a specific Real Estate Project that is collateral for such Indebtednessany existing or future Indebtedness of any of Loan Party or their Subsidiaries that is permitted by the terms of this Agreement.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §Section 8 and §Section 9 of this Agreement or the Guaranty, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the Guarantors, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §Section 7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries than those set forth in §8 §8.1(f), 8.7 and §9 of this Agreement or the GuarantyAgreement, the Borrower shall promptly notify the Agent and, if requested by the Majority BanksRequired Lenders, the Borrower, the Guarantors, the Agent and the Majority Banks Required Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks Required Lenders in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 7.21 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness or to specific Subsidiaries that own Real Estate that are not Guarantors. In the event this Agreement or any of the other Loan Documents are modified pursuant to this §7.21 and the agreement or document pertaining to any Indebtedness, Debt Offering or Equity Offering creating the right to modify this Agreement or any other Loan Document shall terminate or no longer be in force or effect, this Agreement or such other Loan Documents shall be promptly modified to eliminate any such more restrictive provision and revert to the provision originally contained herein or in such other Loan Document.

More Restrictive Agreements. Should the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth in §Section 8 and §Section 9 of this Agreement or the GuarantyAgreement, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsAgent, the Agent and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors Guarantor agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §Section 7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should Promptly notify the Borrower, the Guarantors Administrative Agent should any Loan Party or any Subsidiary of their respective Subsidiaries a Loan Party enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offeringissuance of Preferred Equity, which agreements or documents include covenants, whether affirmative or negative negative, which are individually or in the aggregate more restrictive as to the matters covered by the provisions of Sections 6.1, 6.3, 6.5 through 6.13, inclusive, and 6.15 (or any other provision provisions which may have the same practical effect as any of the foregoing), which are individually or in ) against any of the aggregate more restrictive against the Borrower, the Guarantors Loan Parties or their respective Subsidiaries than those set forth in §8 and §9 herein, or which provide for a guaranty of this Agreement or the Guaranty, obligations thereunder by a Person that is not liable for the Borrower shall promptly notify the Agent and, if Obligations. If requested by the Majority BanksRequisite Lenders, the BorrowerLoan Parties, the GuarantorsAdministrative Agent, the Agent and the Majority Banks Requisite Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions or provide for a guaranty of the Obligations by such Person, in each case solely for the duration of such restrictive provisions or guaranties under such other agreements or documents, as determined by the Majority Banks Requisite Lenders in their sole reasonable discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 5.13 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to a specific Real Estate Project that is collateral for such Indebtednessany existing or future Indebtedness of any of Borrower or their Subsidiaries that is permitted by the terms of this Agreement.

More Restrictive Agreements. Should Without limiting the Borrowerterms of Section 8.1, should the Guarantors Borrower or any of their respective Subsidiaries Guarantor enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, covenants (whether affirmative or negative negative), warranties, representations, defaults or events of default (or any other provision which may have the same practical effect as any of the foregoing), ) which are individually or in the aggregate more restrictive against the Borrower, the Guarantors Guarantor or their respective Subsidiaries than those set forth herein or in §8 and §9 any of this Agreement or the Guarantyother Loan Documents, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsAgent, the Agent and the Majority Banks shall (and if applicable, the Borrower shall cause the Guarantor to) promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §Section 7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, Borrower or the Guarantors or any of their respective Subsidiaries Guarantor enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants, whether affirmative or negative (or any other provision which may have the same practical effect as any of the foregoing), which are individually or in the aggregate more restrictive against the Borrower, Borrower or the Guarantors or their respective Subsidiaries Guarantor than those set forth in §Section 8 and §Section 9 of this Agreement or the GuarantyAgreement, the Borrower shall promptly notify the Agent and, if requested by the Majority Banks, the Borrower, the GuarantorsGuarantor, the Agent Agent, and the Majority Banks shall promptly amend this Agreement and the other Loan Documents to include some or all of such more restrictive provisions as determined by the Majority Banks in their sole discretion. Each of the Borrower and Guarantors Guarantor agree to deliver to the Agent copies of any agreements or documents (or modifications thereof) pertaining to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors Guarantor or any of their respective Subsidiaries as the Agent from time to time may request. Notwithstanding the foregoing, this §7.16 Section 7.14 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

More Restrictive Agreements. Should the Borrower, the Guarantors Borrower or any Guarantor, while this Agreement is in effect or any Note remains unpaid or any Letter of their respective Subsidiaries Credit remains outstanding, enter into into, refinance or modify any agreements or the relevant documents pertaining to any existing or future IndebtednessIndebtedness for money borrowed which constitutes revolving credit, Debt Offering in an amount exceeding $20,000,000 in aggregate amount to any lender or Equity Offeringgroup of lenders acting in concert with one another, pursuant to a loan agreement, credit agreement, note purchase agreement, indenture or other similar instrument, which agreements or documents include instrument includes covenants, whether affirmative warranties, representations, or negative defaults or events of default (or any other provision type of restriction which may would have the same practical effect as of any of the foregoing), which are individually including, without limitation, any "put" or in the aggregate more restrictive against the Borrower, the Guarantors or their respective Subsidiaries mandatory prepayment of such debt) other than those set forth herein or in §8 and §9 any of this Agreement or the Guarantyother Loan Documents, the Borrower shall promptly so notify the Agent and, if requested the Agent, in the discretion of the Agent, shall so request by written notice to the Majority BanksBorrower, the Borrower, the Guarantors, the Agent and the Majority Banks Requisite Lenders (in their sole discretion and based on their respective independent credit judgment, and subject to Section 12.6) shall (and Borrower shall cause the Guarantors to, as applicable) promptly amend this Agreement and the other Loan Documents to include incorporate some or all of such more restrictive provisions as determined by into this Agreement and, to the Majority Banks extent necessary and reasonably desirable to the Agent and the Requisite Lenders (in their sole discretion. Each discretion and based on their respective independent credit judgment), into any of the Borrower other Loan Documents, all at the election of the Agent; provided, however, that any such amendment shall provide that, upon cancellation or termination of the loan agreement, credit agreement, note purchase agreement, indenture or other instrument pertaining to such other revolving credit (other than by reason of an event of default thereunder), so long as no Default or Event of Default is in existence, such amendment also shall terminate and Guarantors agree to deliver the provisions of this Agreement affected by such amendment shall revert to the Agent copies of any agreements or documents (or modifications thereof) pertaining terms thereof as in effect prior to existing or future Indebtedness, Debt Offering or Equity Offering of the Borrower, the Guarantors or any of their respective Subsidiaries as the Agent from time giving effect to time may request. Notwithstanding the foregoing, this §7.16 shall not apply to covenants contained in any agreements or documents evidencing or securing Non-recourse Indebtedness or covenants in agreements or documents relating to Recourse Indebtedness that relate only to specific Real Estate that is collateral for such Indebtednessamendment.