Common use of Recording; Modification Clause in Contracts

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by the Security Instrument and does not restrict the use of the Property in a manner that would adversely affect the security provided by the Security Instrument. As of the date hereof, there are no other amendments, modifications, assumptions or assignments of the Ground Lease not heretofore delivered to Lender. The Ground Lease may not be canceled, terminated, surrendered, modified or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 2 contracts

Samples: Loan Agreement (American Realty Capital Trust III, Inc.), Loan Agreement (American Realty Capital Trust III, Inc.)

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Recording; Modification. A memorandum of the The Ground Lease (or a memorandum thereof) has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage or the Security Instrument ground lessor has approved and does not restrict consented to the use encumbrance of the applicable Collateral Property in a manner that would adversely affect the security provided by the Security Instrumentrespective Mortgage. As of There have not been amendments or modifications to the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Borrower will not heretofore delivered to Lender. The cancel, terminate, surrender or amend the Ground Lease may not be canceled, terminated, surrendered, modified or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 2 contracts

Samples: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

Recording; Modification. A memorandum of the each Ground Lease has been duly recorded. The , the Ground Lease permits Leases permit the interest of Borrower to be encumbered by a mortgage or each Ground Lessor has approved and consented to the Security Instrument and does not restrict the use encumbrance of the applicable Individual Property in a manner that would adversely affect the security provided by the Security Instrument. As of applicable Mortgages and there have not been amendments or modifications to the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease not heretofore delivered to Lender. Leases since recordation of the applicable memorandum of ground lease pertaining thereto, with the exception of written instruments listed on Schedule V. The Ground Lease may not be canceled, terminated, surrendered, modified surrendered or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 2 contracts

Samples: Loan Agreement (Equity Inns Inc), Loan Agreement (Equity Inns Inc)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage or the Security Instrument ground lessor has approved and does not restrict consented to the use encumbrance of the Property in a manner that would adversely affect the security provided by the Security InstrumentMortgage. As of There have not been amendments or modifications to the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease not heretofore delivered to Lendersince its recordation, with the exception of written instruments which have been recorded. The Ground Lease may not be canceled, terminated, surrendered, modified surrendered or amended by Borrower without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 1 contract

Samples: Loan Agreement (Prime Group Realty Trust)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. There have not been amendments or modifications to the Security Instrument and does not restrict the use of the Property in a manner that would adversely affect the security provided by the Security Instrument. As of the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease not heretofore delivered to Lendersince its recordation, with the exception of written instruments which have been recorded. The Ground Lease may not be canceled, terminated, terminated or surrendered, modified and none of the terms and provisions of the Ground Lease may be modified, changed, supplemented, altered, amended or amended waived, without in each case the prior written consent of Lender and any such action without such consent shall not be binding on Lender, except in accordance with Article V.C of the Ground Lease.

Appears in 1 contract

Samples: Loan Agreement (TNP Strategic Retail Trust, Inc.)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage or the Security Instrument ground lessor has approved and does not restrict consented to the use encumbrance of the Property in a manner that would adversely affect the security provided by the Security InstrumentMortgage. As of There have not been amendments or modifications to the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease not heretofore since its recordation, with the exception of written instruments which have been delivered to Lender. The Ground Lease may not be canceled, terminated, surrendered, surrendered or modified or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 1 contract

Samples: Loan Agreement (Prime Group Realty Trust)

Recording; Modification. A memorandum notice of lease for each of the Ground Lease Leases has been duly recorded. The Ground Lease permits Leases each permit the interest of Borrower to be encumbered by a mortgage or the Security Instrument respective ground lessors have has approved and does not restrict consented to the use encumbrance of the Property in a manner that would adversely affect the security provided by the Security InstrumentMortgage. As of There have not been amendments or modifications to the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease not heretofore delivered to LenderLeases since their recordation, with the exception of written instruments which have been recorded. The Ground Lease Leases may not be canceled, terminated, surrendered, modified surrendered or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 1 contract

Samples: Loan Agreement (Grove Property Trust)

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Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The , the Ground Lease permits the interest of the Borrower to be encumbered by a mortgage, the Security Instrument landlord under the Ground Lease, to the extent required thereby, has approved and does not restrict consented to the use encumbrance of the Individual Property in a manner that would adversely affect the security provided by the Security Instrument. As applicable Mortgage and a complete and correct description of the date hereofeach Ground Lease, there are no other including all amendments, modificationsmodifications or supplements thereto, assumptions or assignments of the Ground Lease not heretofore delivered to Lender. is set forth on Schedule V. The Ground Lease may not be canceled, terminated, surrendered, modified surrendered or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.. (ii)

Appears in 1 contract

Samples: Loan Agreement (Horizon Group Inc)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest interests of Borrower to be encumbered by a mortgage. There have not been amendments or modifications to the Security Instrument and does not restrict the use of the Property in a manner that would adversely affect the security provided by the Security Instrument. As of the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease not heretofore delivered to Lendersince its recordation, with the exception of written instruments which have been recorded. The So long as a "Leasehold Mortgage" (as defined in the Ground Lease) is in effect, the Ground Lease may not be canceled, terminated, surrendered, modified or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Recording; Modification. A memorandum of the The Ground Lease (or a memorandum thereof) has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a deed of trust or mortgage or the Security Instrument Ground Lessor has approved and does not restrict consented to the use encumbrance of the Property in a manner that would adversely affect the security provided by the Security InstrumentMortgage. As of There have not been amendments or modifications to the date hereof, there are no other amendments, modifications, assumptions or assignments terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded and any other instruments which have been provided to Lender prior to or on the Closing Date. Borrower will not heretofore delivered to Lender. The cancel, terminate, surrender or amend the Ground Lease may not be canceled, terminated, surrendered, modified or amended without the prior written consent of Lender and any such action without such consent shall not be binding on Lender, except as otherwise expressly permitted by this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Taubman Centers Inc)

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