Common use of No Development Rights Clause in Contracts

No Development Rights. Tenant acknowledges that it has no rights to any development rights, air rights or comparable rights appurtenant to the Project, and Tenant consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and deliver any instruments which may be requested by Landlord, including instruments merging zoning lots, evidencing such acknowledgment and consent, provided that the same shall not increase Tenant’s obligations or otherwise impair Tenant’s rights and privileges hereunder. The provisions of this Section 9.17 shall be construed as an express waiver by Tenant of any interest Tenant may have as a “party in interest” (as such term is defined in Section 12-10 Zoning Lot of the Zoning Resolution of the City of New York) in the Project.

Appears in 2 contracts

Samples: Lease (Yext, Inc.), Lease (Yext, Inc.)

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No Development Rights. Tenant acknowledges that it has no rights to any development rights, air rights or comparable rights appurtenant to the ProjectProject or any portion thereof, and Tenant consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and deliver deliver, at no out-of-pocket cost to Tenant, any instruments which may be requested by Landlord, including instruments merging zoning lots, evidencing such acknowledgment and consent, provided that the same shall not increase Tenant’s obligations or otherwise impair Tenant’s rights and privileges hereunder. The provisions of this Section 9.17 8.17 shall be construed as an express waiver by Tenant of any interest Tenant may have as a “party in interest” (as such term is defined in Section 12-10 Zoning Lot of the Zoning Resolution of the City of New York) in the Project.

Appears in 2 contracts

Samples: Lease (Intercept Pharmaceuticals Inc), Lease (Intercept Pharmaceuticals Inc)

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No Development Rights. Tenant acknowledges that it has no rights this Lease does not grant to Tenant any development rights, air rights or comparable rights appurtenant to the Project, and Tenant consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and deliver any instruments which may be reasonably requested by Landlord, including instruments merging zoning lots, evidencing such acknowledgment and consent, provided that the same shall not increase Tenant’s obligations or otherwise impair Tenant’s rights and privileges hereunder. The provisions of this Section 9.17 8.17 shall be construed as an express waiver by Tenant of any interest Tenant may have (arising out of Tenant having entered into this Lease) as a "party in interest" (as such term is defined in Section 12-10 Zoning Lot of the Zoning Resolution of the City of New York) in the Project.

Appears in 1 contract

Samples: Lease (Equitable Companies Inc)

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