Mortgagee Consent. Tenant acknowledges that, where applicable, any consent or approval hereafter given by Landlord may be subject to the further consent or approval of a Mortgagee; and the failure or refusal of such Mortgagee to give such consent or approval shall, notwithstanding anything to the contrary in this Lease contained, constitute reasonable justification for Landlord’s withholding its consent or approval.
Mortgagee Consent. With respect to any and all provisions of this Lease requiring Landlord’s consent, the refusal or failure of Landlord’s Mortgagee to grant consent (to the extent required and applicable) shall be a reasonable basis for Landlord to withhold its consent.
Mortgagee Consent. Owner has advised Manager that the Mortgagee of the Hotel as of the Effective Date has consented to Manager’s assumption of management of the Hotel on an interim basis pending such Mortgagee’s review and approval of this Agreement and the negotiation, execution and delivery of an Assignment and Subordination of Management Agreement in substantially the form attached hereto as Schedule 23.30 (and with any such changes thereto as the parties may negotiate in good faith). Notwithstanding any other provision of this Agreement, if such Mortgagee has not approved this Agreement, or if Owner, Manager and such Mortgagee shall not have negotiated, executed and delivered such Assignment and Subordination of Management Agreement on or before December 31, 2001, then Manager may terminate this Agreement upon at least thirty (30) days prior written notice to Owner, with any such notice to be given on or before January 31, 2002. In the event Manager so terminates this Agreement, Owner shall pay to Manager the Special Termination Fee no later than the business day immediately preceding the specified date of such termination of this Agreement (with such payment obligation to survive the termination of this Agreement).
Mortgagee Consent. Landlord represents that there is currently no mortgagee with respect to the Property.
Mortgagee Consent. With respect to any and all provisions of this Lease requiring Landlord’s consent, the refusal or failure of Landlord’s Mortgagee to grant consent (to the extent required and applicable) shall be a reasonable basis for Landlord to withhold its consent. 13 To be added for California properties only.
Mortgagee Consent. Tenant understands that, pursuant to the terms of the existing mortgage on the Building, the holder of such mortgage is required to consent to this Amendment. Accordingly, each party, by written notice to the other, shall have the right (in its sole and absolute discretion) to terminate this Amendment if such consent (the “Mortgagee Consent”) is not given within 60 days after the date hereof, but only if such termination notice is given after such 60th day but before the date that is 90 days after the date hereof. Tenant shall reasonably cooperate with Landlord in connection with Landlord’s efforts to obtain such consent. In the event of such termination, this Amendment shall be null and void ab initio, and the Existing Lease shall continue in full force and effect without modification, as if this Amendment had never been executed.
Mortgagee Consent. 11 ARTICLE X. Fire and Casualty and Restoration........................ 12 ARTICLE X. Fire and Casualty and Restoration........................ 12 10.1 Fire and Casualty and Restoration............................. 12 10.2 Tenant's Election to Restore.................................. 12 10.3 Landlord's Approval of Reconstruction......................... 12 10.4 Tenant's Election to Delay Reconstruction..................... 12 10.5 Proceeds Paid to Landlord..................................... 12 ARTICLE XI.
Mortgagee Consent. Finally, Tenant agrees that so long as any present or future first mortgage shall remain in effect Tenant shall not alter, modify, amend, change, surrender or cancel this Lease nor pay the rent due hereunder in advance for more than thirty (30) days, except as may be required herein, within the prior written consent of the holder thereof, and Tenant will not seek to be made an adverse or defendant party in any action or proceeding brought to enforce or foreclose such mortgage. Tenant further agrees that it shall not subordinate its interest in this Lease to the lien of any junior mortgage, security agreement or lease affecting the demised premises, unless the holder of the first mortgage shall consent thereto.
Mortgagee Consent. Tenant understands and acknowledges that the effectiveness of this Amendment is expressly contingent on Landlord obtaining the written consent of Landlord’s permanent mortgage lender (the “Lender”) for this Amendment. Landlord hereby represents that it will exercise all commercially reasonable efforts to obtain such Lender consent within thirty (30) days after execution of this Amendment. If requested by Lender upon review of this Amendment, Tenant agrees to join with Landlord in executing such additional documents as such Lender reasonably may require for its consent to this Amendment, provided the same does not increase the rent or other amounts payable by Tenant hereunder, nor alter Tenant’s rights and/or obligations or Landlord’s rights and/or obligations under the Lease or this Amendment.
Mortgagee Consent. Whenever a proposed amendment would materially alter or change the rights of mortgagees generally, then such amendments shall require the approval of 2/3 majority vote of all first mortgagees of record allocating one vote for each mortgage held. Mortgagees need not appear at any meeting of Co-owners except that their approval shall be solicited through written ballots. To the extent that a vote of mortgagees of Units are required for the amendment of the Condominium Documents, the procedure described in Section 90a of the Act, MCL 559.190a shall be followed. A person causing or requesting an amendment to the Condominium Documents shall be responsible for costs and expenses of the amendment, except for amendments based upon a vote of a prescribed majority of Co-owners and mortgagees or based upon the advisory committee's decision, the costs of which are expenses of administration.
