Common use of Pool Properties Clause in Contracts

Pool Properties. The Credit Parties shall not, nor shall they permit any other Transaction Party or Subsidiary, directly or indirectly, to: (a) use or occupy or conduct any activity on, or knowingly permit the use or occupancy of or the conduct of any activity on any Pool Properties by any tenant, in any manner which violates any Legal Requirement or which constitutes a public or private nuisance in any manner which would have a Material Adverse Effect or which makes void, voidable, or cancelable any insurance then in force with respect thereto or makes the maintenance of insurance in accordance with §7.7 commercially unreasonable (including by way of increased premium). Without limiting the foregoing, no Transaction Party shall, and shall not knowingly suffer or permit a tenant under any Lease to, violate any Legal Requirements in any material respect affecting a Pool Property, including the Controlled Substances Act, and upon learning of any conduct contrary to this Section, such Credit Party shall immediately take all actions reasonably expected under the circumstances to terminate any such use of the Pool Property, including: (i) to give timely notice to an appropriate law enforcement agency of information that led such Transaction Party to know such conduct had occurred, and (ii) in a timely fashion to revoke or make a good faith attempt to revoke permission for those engaging in such conduct to use the Pool Property or to take reasonable actions in consultation with a law enforcement agency to discourage or prevent the illegal use of the Pool Property; (b) without the prior written consent of Agent (which consent shall not be unreasonably withheld, conditioned or delayed), except in connection with any construction, development or redevelopment of any real estate, initiate or permit any zoning reclassification of any Pool Property or seek any variance under existing zoning ordinances applicable to any Pool Property or in any event use or knowingly permit the use of any Pool Property in such a manner which would result in such use becoming a nonconforming use under applicable zoning ordinances or other Legal Requirements if such nonconforming use would reasonably be expected to have a Material Adverse Effect; (c) without the prior written consent of Agent (which consent shall not be unreasonably withheld, conditioned or delayed), except in connection with any construction, development or redevelopment of any real estate, (i) impose any material easement, restrictive covenant, or encumbrance upon any Pool Property, other than the easements entered into the ordinary course of business and that would customarily be agreed to by a reasonably prudent land owner, (ii) execute or file any subdivision plat or condominium declaration affecting any Pool Property, or (iii) consent to the annexation of any Pool Property to any municipality; (d) do any act, by any Transaction Party which would reasonably be expected to materially decrease the value of any Pool Property as reflected in the most-recent Appraisal (including by way of negligent act); (e) without the prior written consent of all the Lenders (which consent shall not be unreasonably withheld, conditioned or delayed), take any affirmative action to permit any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Pool Property regardless of the depth thereof or the method of mining or extraction thereof; or (f) without the prior consent of the Lenders (which consent shall not be unreasonably withheld, conditioned or delayed), surrender the leasehold estate created by any applicable Eligible Ground Lease (accepted by the Agent and the Lenders) respecting a Pool Property or terminate or cancel any such Eligible Ground Lease or materially modify, change, supplement, alter, or amend any such Eligible Ground Lease, either orally or in writing.

Pool Properties. The Credit Parties Borrower and respective Subsidiaries Guarantors shall not, nor shall they permit any other Transaction Party or Subsidiary, directly or indirectly, to: (a) use or occupy or conduct any activity on, or knowingly permit the use or occupancy of or the conduct of any activity on any Pool Properties by any tenantTenant, in any manner which violates any Legal Requirement Applicable Law or which constitutes a public or private nuisance in any manner which would have a Material Adverse Effect or which makes void, voidable, or cancelable would otherwise result in the commencement of any insurance then in force with respect thereto or makes proceedings under the maintenance of insurance in accordance with §7.7 commercially unreasonable (including by way of increased premium)Civil Asset Forfeiture Reform Act. Without limiting the foregoing, no Transaction Credit Party shall, and shall not knowingly suffer or permit a tenant Tenant under any Lease to, violate any Legal Requirements Laws in any material respect affecting a Pool Property, including the Controlled Substances Act, and upon learning of any conduct contrary to this Section, such Credit Party shall immediately take all actions reasonably expected under the circumstances to terminate any such use of the Pool Property, including: (ia) to give timely notice to an appropriate law enforcement agency of information that led such Transaction Credit Party to know such conduct had occurred, and (iib) in a timely fashion to revoke or make a good faith attempt to revoke permission for those engaging in such conduct to use the Pool Property or to take reasonable actions in consultation with a law enforcement agency to discourage or prevent the illegal use of the Pool Property; (b) without the prior written consent of Agent (which consent shall not be unreasonably withheld, conditioned or delayed), except in connection with any construction, development or redevelopment of any real estate, initiate or permit any zoning reclassification of any Pool Property or seek any variance under existing zoning ordinances applicable to any Pool Property or in any event use or knowingly permit the use of any Pool Property in such a manner which would result in such use becoming a nonconforming use under applicable zoning ordinances or other Legal Requirements Applicable Laws if such nonconforming use would reasonably be expected to have a Material Adverse Effect;; and (c) without the prior written consent of Agent (which consent shall not be unreasonably withheld, conditioned or delayed), except in connection with any construction, development or redevelopment of any real estate, (i) impose any material easement, restrictive covenant, or encumbrance upon any Pool Property, other than the easements entered into the ordinary course of business and that would customarily be agreed to by a reasonably prudent land owner, (ii) execute or file any subdivision plat or condominium declaration affecting any Pool Property, or (iii) consent to the annexation of any Pool Property to any municipality; (d) do any act, by any Transaction Party which would reasonably be expected to materially decrease the value of any Pool Property as reflected in the most-recent Appraisal (including by way of negligent act); (e) without the prior written consent of all the Lenders (which consent shall not be unreasonably withheld, conditioned or delayed), take any affirmative action to permit any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Pool Property regardless of the depth thereof or the method of mining or extraction thereof; or (f) without the prior consent of the Lenders (which consent shall not be unreasonably withheld, conditioned or delayed), surrender the leasehold estate created by any applicable Eligible Ground Lease (accepted by the Agent and the Lenders) respecting a Pool Property or terminate or cancel any such Eligible Ground Lease or materially modify, change, supplement, alter, or amend any such Eligible Ground Lease, either orally or in writing.

Pool Properties. The Credit Parties Borrower shall not, nor shall they permit any other Transaction Party or Subsidiary, directly or indirectly, to: (a) use or occupy or conduct any activity on, or knowingly permit the use or occupancy of or the conduct of any activity on any Pool Properties by any tenant, in any manner which violates any Legal Requirement or which constitutes a public or private nuisance in any manner which would have a Material Adverse Effect or which makes void, voidable, or cancelable any insurance then in force with respect thereto or makes the maintenance of insurance in accordance with §7.7 Section 5.06 commercially unreasonable (including by way of increased premium). Without limiting the foregoing, no Transaction Party shall, and shall not knowingly suffer or permit a tenant under any Lease to, violate any Legal Requirements in any material respect affecting a Pool Property, including the Controlled Substances Act, and upon learning of any conduct contrary to this Section, such Credit Party shall immediately take all actions reasonably expected under the circumstances to terminate any such use of the Pool Property, including: (i) to give timely notice to an appropriate law enforcement agency of information that led such Transaction Party to know such conduct had occurred, and (ii) in a timely fashion to revoke or make a good faith attempt to revoke permission for those engaging in such conduct to use the Pool Property or to take reasonable actions in consultation with a law enforcement agency to discourage or prevent the illegal use of the Pool Property; (b) without the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld, conditioned or delayed), except in connection with any construction, development or redevelopment of any real estate, initiate or permit any zoning reclassification of any Pool Property or seek any variance under existing zoning ordinances applicable to any Pool Property or in any event use or knowingly permit the use of any Pool Property in such a manner which would result in such use becoming a nonconforming use under applicable zoning ordinances or other Legal Requirements Requirement if such nonconforming use would reasonably be expected to have a Material Adverse Effect; (c) without the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld, conditioned or delayed), except in connection with any construction, development or redevelopment of any real estate, (i) impose any material easement, restrictive covenant, or encumbrance upon any Pool Property, other than the easements entered into the ordinary course of business and that would customarily be agreed to by a reasonably prudent land owner, (ii) execute or file any subdivision plat or condominium declaration affecting any Pool Property, or (iii) consent to the annexation of any Pool Property to any municipality; (d) do subject to any actprior grants or transfer of mineral rights, by any Transaction Party which would reasonably be expected to materially decrease the value of any Pool Property as reflected in the most-recent Appraisal (including by way of negligent act); (e) without the prior written consent of all the Required Lenders (which consent shall not be unreasonably withheld, conditioned or delayed), take any affirmative action to permit any drilling or exploration for or extraction, removal or production of any mineral, hydrocarbon, gas, natural element, compound or substance (including sand and gravel) from the surface or subsurface of any Pool Property regardless of the depth thereof or the method of mining or extraction thereof; (e) grant any Person any right of first refusal, right of first offer or other option to acquire a Pool Property or any Building thereon or any portion thereof or interest therein (provided that this SECTION 6.14(e) shall not prohibit a Borrower from entering into a contract to sell a Pool Property in the ordinary course of business); or (f) without the prior consent of the Required Lenders (which consent shall not be unreasonably withheld, conditioned or delayed), unless in connection with the release of any Pool Property or the acquisition of the fee interest in the related real estate, surrender the leasehold estate created by any applicable Eligible Ground Lease (accepted by the Agent and the LendersAgent) respecting a Pool Property or terminate or cancel any such Eligible Ground Lease or materially modify, change, supplement, alter, or amend any such Eligible Ground Lease, either orally or in writing.