Parking Easement. Tower Borrower shall not (a) waive any material obligation of Easement Grantor under the Parking Easement, (b) waive, excuse, condone or in any way release or discharge Easement Grantor of or from Easement Grantor’s material obligations, covenants and/or conditions under the Parking Easement, (c) extend or shorten any period for the exercise of any rights by Easement Grantor, (d) agree to materially increase Tower Borrower’s obligations or reduce Tower Borrower’s benefits under the Parking Easement, or (e) otherwise modify or amend in any material fashion the Parking Easement, without, in each case, the prior written consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, Lender shall under no circumstances be required to approve any waiver, release, discharge, modification or amendment that materially and adversely affects the rights and benefits afforded to the Tower Parcel, the Garage, either of the Borrowers and/or Lender under the Parking Easement, including specifically, any provision materially impairing adequate utility service, parking and/or free, unimpeded and unencumbered access for pedestrian and vehicular ingress and egress onto adjacent public roads, or any necessary cross-easements or reciprocal easement agreements for utilities, access, use, driveways, drainage flows, storm and sanitary sewers and/or other customary purposes granted under the Parking Easement.
Parking Easement. (a) Borrowers shall, at their sole cost and expense, promptly and timely perform and observe all the material terms, covenants and conditions required to be performed and observed by Borrowers under the Parking Easement.
(b) If Borrowers shall be in default under the Parking Easement, then, subject to the terms of the Parking Easement, Borrowers hereby grant Lender the right (but not the obligation), to cause the default or defaults under the Parking Easement to be remedied and otherwise exercise any and all rights of Borrowers under the Parking Easement, as may be necessary to prevent or cure any default, and Lender shall have the right to enter all or any portion of the Easement Parcel at such times and in such manner as Lender deems necessary, to prevent or to cure any such default.
(c) Upon the occurrence of any material default by Easement Grantor under the Parking Easement, Borrowers shall diligently pursue all of their remedies thereunder and at law and in equity to enforce the terms of the Parking Easement and Easement Grantor’s obligations thereunder.
(d) The actions or payments of Lender to cure any default by Borrowers under the Parking Easement shall not remove or waive, as between Borrowers and Lender, any Default or Event of Default that may occur under this Agreement by virtue of the default by Borrowers under the Parking Easement. All sums expended by Lender to cure any such default shall be paid by Borrowers to Lender, upon demand, with interest on such sum at the Default Rate from the date such sum is expended to and including the date the reimbursement payment is made to Lender. All such indebtedness shall be deemed to be secured by the Mortgage and the other applicable Loan Documents.
(e) Borrowers shall give Lender a copy of all material notices and communications transmitted between parties to the Parking Easement pursuant or relating to the Parking Easement. Borrowers shall specifically notify Lender promptly in writing of the occurrence of any material default by any Easement Grantor under the Parking Easement, or the occurrence of any event that, with the passage of time or service of notice, or both, would constitute a material default by Easement Grantor, and the receipt by Borrowers of any notice (written or otherwise) from Easement Grantor, or the transmittal by Borrowers of any notice (written or otherwise) to Easement Grantor, noting or claiming the occurrence of any default by any party under the Parking Easement, or the occ...
Parking Easement. Within 12 months after the Effective Date, the Developer will grant the City a parking easement for at least 100 parking spaces on the Church Site to be used for public parking, • Restrictions on Wednesdays and Sundays in order to accommodate the members of the Metropolitan Baptist Church. • If Developer constructs a multi-level parking garage, a minimum of 100 parking spaces in the Developer Garage will replace the current surface lot spaces and will be subject to the terms of the Parking Easement. • On or before January 30, 2020, the City will pay the Developer $400,000 for the Parking Easement. • An affiliate of the Developer agrees to sell approximately
Parking Easement. Pursuant to the Development Agreement, Developer intends to construct an approximately 280-space two-level underground parking garage as part of the Project to meet both the City’s parking requirements as modified by the historic variance, and the City’s historic preservation requirements for the historic Post Office building on the 220 Park
Parking Easement. Developer and Sublessee acknowledge and agree that the Leasehold Property benefits from the non-exclusive easement for parking in the Common Areas of the Center under the REA (as such Common Areas are defined in the REA). In the event the REA terminates or is terminated as to the Leasehold Property and as a result thereof, the parking easement benefiting the Leasehold Property expires and terminates and the Leasehold Property, as a result thereof, does not have sufficient parking to meet the ratio of 1 parking space per 300 square feet of leasable space on the Leasehold Property, and the building improvements on the Leasehold Property are not more than 100,000 square feet, then Developer or its successor or assign, hereby agree:
(a) If Developer is then an owner of the fee or a leasehold interest in the Sears Tract (as defined in the REA), Developer shall grant a non-exclusive right, license or easement (as applicable to the interest held by Developer in the Sears Tract) for parking and access thereto in and to the Common Areas as such exist from time to time on the Sears Tract on terms and conditions substantially similar to those currently applicable under the REA; or
(b) If Developer is not an owner of the fee or a leasehold interest in the Sears Tract (as defined in the REA), Developer shall grant a non-exclusive right, license or easement (as applicable to the interest held by Developer) for parking and access thereto in and to the Common Areas as such exist from time to time on the Developer Tract (as defined in the REA) on terms and conditions substantially similar to those currently applicable under the REA.
Parking Easement. (a) Borrowers shall cause Mortgage Borrowers, at their sole cost and expense, to promptly and timely perform and observe all the material terms, covenants and conditions required to be performed and observed by Mortgage Borrowers under the Parking Easement.
Parking Easement from and after substantial completion of the Additional Parcel 3 Building, a non-exclusive easement and right of way (the “Parking Easement”) for the Parcels 1&2 Benefited Parties over, upon, through and across the portions of the easement area and to use the parking spaces described on Exhibit B attached hereto and incorporated hereby (the “Parking Servient Tenement”), to be used in common with the Parcel 3 Benefited Parties, for vehicular parking and Access to the Parcels 1&2 Land. The Parcel 3 Owner has the right to reasonably establish the location of the pedestrian pathways in the Parking Servient Tenement so as to minimize (i) the impact on the number of parking spaces within the Parcel 3 Land and (ii) the likely disruption to the Parcel 3 Benefited Parties.
Parking Easement. Refinery Company hereby grants to Fertilizer Company, for use by its employees, agents, contractors, licensees and lessees, as an appurtenance to the Fertilizer Parcel, for a term of fifty (50) years from the Effective Date hereof, a non-exclusive easement and right of use of the parking areas on the “Refinery Shared Parking Area” shown on the Aerial and legally described on Exhibit Q hereto for the parking of vehicles of Fertilizer Company and its employees, agents, employees, contractors, licensees and lessees, all in common with Refinery Company; provided, however, Refinery Company hereby agrees that no less than fifty (50) parking spaces on the Refinery Shared Parking Areas shall be exclusively available to Fertilizer Company at all times (the easement granted under this Section 2.3(H) is called the “Parking Easement”).
Parking Easement. Grantor hereby establishes, creates and grants to the City a temporary, exclusive easement for parking on the parking areas constructed and existing from time to time within the Easement Property and for the existing road and driveway used to access the parking areas (the "Parking Easement"). Grantor establishes, creates and grants the Parking Easement for City to use, without payment of any fee or charge, the Easement Property for the intended purposes as set forth in this Easement. For the avoidance of doubt, the Parking Easement only includes the Easement Property and does not include any right to use or enter upon any portion of the Grantor Property outside of the Easement Property. This Easement shall become effective upon the execution of this Easement by both parties and Grantor’s closing on the Grantor Property (“Effective Date”). This Easement shall be recorded in the Public Records of Palm Beach County, Florida.
Parking Easement. CRRM hereby grants to CRNF, for use by its employees, agents, contractors, licensees and lessees, as an appurtenance to the Fertilizer Parcel, a perpetual, non-exclusive easement and right of use of the parking areas legally described on Annex Q to this Exhibit A and shown on the Aerial (the “Refinery Shared Parking Area”) for the parking of vehicles of CRNF and its employees, agents, employees, contractors, licensees and lessees, all in common with CRRM; provided, however, CRRM hereby agrees that no less than 50 parking spaces on the Refinery Shared Parking Areas shall be exclusively available to CRNF at all times.
