Common use of Service Agreements and Permits Clause in Contracts

Service Agreements and Permits. Except for previous assignments in favor of Lender, no previous assignment, sale, pledge, transfer, mortgage or other encumbrance of any interest in the Service Agreements, the Permits, or any of them, has been made, and Borrower agrees not to assign, sell, pledge, transfer, mortgage or otherwise encumber its interest in the Service Agreements, the Permits, or any of them, so long as any portion of the Loan remains unpaid. Borrower further represents and warrants that (i) Borrower has not performed any act which might prevent Borrower from performing its undertakings hereunder or which might prevent Lender from operating under or enforcing any of the terms and conditions hereof or which would limit Lender in such operation or enforcement, (ii) Borrower is not in material default under the Service Agreements, the Permits, or any of them, and no other party to the respective Service Agreements is in default thereunder except as disclosed in writing to Lender, (iii) no amendments to any of the material Service Agreements, and no change in the Permits, will be made or consented to by Borrower without the prior written consent of Lender, and (iv) upon execution of each Service Agreement and the issuance of each Permit, Borrower will deliver, if requested by Lender, a copy of the same (or the original at Lender's request) to Lender and will require such of the parties thereto as Lender may designate (in its reasonable discretion) to execute and deliver to Lender a consent to this Agreement, such consent to be in form and content satisfactory to Lender (except in the ordinary course of business if operated in a first-class manner for office/industrial/warehouse projects).

Service Agreements and Permits. Except for previous assignments in favor of Lender, no No previous assignment, sale, pledge, transfer, mortgage or other encumbrance of any interest in the Service Agreements, the Permits, or any of them, has been made, and Borrower agrees not to assign, sell, pledge, transfer, mortgage or otherwise encumber its interest in the Service Agreements, the Permits, or any of them, so long as any portion of the Loan remains unpaid. Borrower further represents and warrants that (i) Borrower has not performed any act which might prevent Borrower from performing its undertakings hereunder or which might prevent Lender from operating under or enforcing any of the terms and conditions hereof or which would limit Lender in such operation or enforcement, (ii) Borrower is not in material default under the Service Agreements, the Permits, or any of them, and no other party to the respective Service Agreements is in default thereunder except as disclosed in writing to Lender, (iii) no amendments to any of the material Service Agreements, and no change in the Permits, will be made or consented to by Borrower without the prior written consent of Lender, and (iv) upon execution of each Service Agreement and the issuance of each Permit, Borrower will deliver, if requested by Lender, a copy of the same (or the original at Lender's ’s request) to Lender and will require such of the parties thereto as Lender may designate (in its reasonable discretion) to execute and deliver to Lender a consent to this Agreement, such consent to be in form and content satisfactory to Lender (except in the ordinary course of business if operated in a first-class manner for office/industrial/warehouse projects)Lender.

Service Agreements and Permits. Except for previous assignments in favor of Lender, no No previous assignment, sale, pledge, transfer, mortgage or other encumbrance of any Borrower’s interest in the Service Agreements, the Permits, or any of them, has been made, and Borrower agrees not to assign, sell, pledge, transfer, mortgage or otherwise encumber its interest in the Service Agreements, the Permits, or any of them, so long as any portion of the Loan remains unpaid. Borrower further represents and warrants that (i) Borrower has not performed any act which might prevent Borrower from performing its undertakings hereunder or which might prevent Lender from operating under or enforcing any of the terms and conditions hereof or which would limit Lender in such operation or enforcement, (ii) Borrower is not in material default under the Service Agreements, the Permits, or any of them, and to Borrower’s knowledge, no other party to the respective Service Agreements is in default thereunder except as disclosed in writing to Lender, (iii) no material amendments to any of the material Service Agreements, and no material change in the Permits, will be made or consented to by Borrower without the prior written consent of Lender, which consent shall not be unreasonably withheld or delayed, and (iv) upon execution of each Service Agreement and the issuance of each Permit, Borrower will deliver, if requested by Lender, a copy of the same (or the original at Lender's ’s request) to Lender and will require endeavor to obtain from such of the parties thereto as Lender may designate (in its reasonable discretion) to execute and deliver to Lender a consent to this Agreement, such consent to be in form and content reasonably satisfactory to Lender (except in the ordinary course of business if operated in a first-class manner for office/industrial/warehouse projects)Lender.