Common use of Permits; Certificate of Occupancy Clause in Contracts

Permits; Certificate of Occupancy. Borrower has obtained all material Permits necessary for the present and contemplated use and operation of each Property and that Borrower is obligated to obtain under Legal Requirements. The permitted uses set forth in the Leases are in conformity in all material respects with the certificate of occupancy and/or material Permits for such Property and any other restrictions, covenants or conditions affecting such Property and, to Borrower’s knowledge, the actual uses being made of each Property are in conformity in all material respects with the certificate of occupancy and/or Permits for such Property and any other restrictions, covenants or conditions affecting such Property, in each case where non-conformity would not have a Material Adverse Effect.

Appears in 4 contracts

Samples: Senior Mezzanine Loan Agreement (Gramercy Capital Corp), Loan Agreement (Gramercy Capital Corp), Senior Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)

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