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 or any portion thereof, and consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and 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. The provisions of this Section 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)

AutoNDA by SimpleDocs

No Development Rights. (a) Subject to Section 8.17(b), Tenant acknowledges that it has no rights to any development rights, air rights or comparable rights appurtenant to the Project or any portion thereof, and consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and deliver, at no out-of-pocket cost to Tenant, deliver any instruments which may be reasonably requested by Landlord, including instruments merging zoning lots, evidencing such acknowledgment and consent. The provisions of this Section 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 1 contract

Samples: Lease (BlackRock Inc.)

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 or any portion thereofProject, and Tenant consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and deliver, at no out-of-pocket cost to Tenant, deliver any instruments which may be reasonably requested by Landlord, including instruments merging zoning lots, evidencing such acknowledgment and consent. The provisions of this Section 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: Agreement (Equitable Companies Inc)

AutoNDA by SimpleDocs

No Development Rights. Tenant acknowledges that it has no rights to any development rights, air rights or comparable rights appurtenant to the Project or any portion thereofProject, and Tenant consents, without further consideration, to any utilization of such rights by Landlord. Tenant shall promptly execute and deliverTenant, at no out-of-pocket cost to Tenant, shall promptly execute and deliver any instruments which reasonably may be requested by Landlord, including instruments merging zoning lots, evidencing such acknowledgment and consent. The provisions of this Section 8.17 32.08 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 12‑10 Zoning Lot of the Zoning Resolution of the City of New YorkResolution) in the Project.

Appears in 1 contract

Samples: Agreement (Bank of New York Mellon Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!