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 a mortgage. Except as described in the definition of “Ground Lease”, there have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc)

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Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended and Borrower’s rights under the Ground Lease may not be waived without the prior written consent of Lender.

Appears in 2 contracts

Samples: Loan Agreement (NOVONIX LTD), Loan Agreement (NOVONIX LTD)

Recording; Modification. A The Ground Lease or a memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, surrendered or modified without the prior written consent of notice given to Lender and any such action without such prior written notice shall not be binding on Lender.

Appears in 1 contract

Samples: Management Agreement (Ashford Hospitality Prime, Inc.)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The Ground Lease permits the interest interests of Fee Borrower and Leasehold Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Samples: Loan Agreement (Glimcher 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 mortgagethe Mortgages. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordationthe recordation of such memorandum, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender, which consent may be withheld in Lender’s sole and absolute discretion.

Appears in 1 contract

Samples: Acquisition and Project Loan Agreement (KBS Strategic Opportunity REIT II, Inc.)

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Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Ground Lease Borrower to be encumbered by a mortgage. Except the Mortgage and, except as described provided for in Sections 3.1(i) and 5.6 of the definition of “Ground Lease, there does not restrict the use of the Property by Ground Lease Borrower or its successors and assigns. There have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender , with Section 15.2 the exception of the Ground Lease, the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lenderinstruments which have been recorded.

Appears in 1 contract

Samples: Loan Agreement (Griffin Capital Essential Asset REIT, Inc.)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The , the Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except this Security Instrument or the lessor under the Ground Lease (the "GROUND Lessor") has approved and consented to the encumbrance of the Property by this Security Instrument and except as described in the definition of “Ground Lease”set forth on Schedule I, there have not been amendments or modifications to the terms of the Ground Lease since its recordationrecordation thereof. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Samples: And Consolidated Mortgage and Security Agreement (Alexanders Inc)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Samples: Loan Agreement (Carter Validus Mission Critical REIT, Inc.)

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