Xxxxxx’s Right to Encumber Sample Clauses

Xxxxxx’s Right to Encumber. Throughout the Term, Lessee may from time to time and without Xxxxxx’s consent execute and deliver one or more Leasehold Mortgages securing any indebtedness or other obligation of Lessee. Without limiting the generality of the foregoing, Xxxxxx may execute and deliver Leasehold Mortgages to secure promissory notes evidencing construction, interim or permanent financing for the Premises or to secure Lessee’s obligations under development, reimbursement or other agreements with governmental or quasi-governmental entities, utility companies or other third parties concerning matters such as sales or property tax abatement or rebate programs, public improvements or utilities.
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Xxxxxx’s Right to Encumber. Throughout the Term, Lessee may from time to time, upon written notice to Lessor, but without having to secure Xxxxxx’s consent, execute and deliver one or more Leasehold Mortgages securing any indebtedness or other obligation of Lessee. Without limiting the generality of the foregoing, Xxxxxx may execute and deliver Leasehold Mortgages to secure promissory notes evidencing construction, interim or permanent financing for the Land or Improvements, or to secure Lessee’s obligations under development, reimbursement or other agreements with governmental or quasi- governmental entities, utility companies or other third parties concerning matters such as sales or property tax abatement or rebate programs, public improvements or utilities. A Qualified Leasehold Mortgagee shall have the absolute right to do one, some, or all of the following things without further consent from Lessor:
Sample 1
Xxxxxx’s Right to Encumber. Lessee shall have the right, with the prior consent of Lessor, which shall not be unreasonably withheld, conditioned, or delayed (provided that it shall be deemed unreasonable for Lessor to withhold its consent if the proposed Encumbrance Holder and Encumbrance meet the “Approval Criteria” set forth in this Section 12.1 below), to encumber to one or more institutional or other lender, investor, mortgage broker, securities dealer or other person or entity then making or arranging loans (referred to in this Lease as "Encumbrance Holder"), by deed of trust or mortgage or other security instrument, all of Xxxxxx's interest under this Lease and the leasehold estate hereby created in Lessee (referred to in this Lease as an " Encumbrance”). The term “Institutional Lender” shall consist of any one or combination of (a) any of the following entities having at least Five Hundred Million Dollars ($500,000,000.00) in gross assets: (i) a national or state bank, (ii) a federal or state savings and loan association, (ii) an insurance company, (iv) a credit union, (v) a trust company, (vi) a pension, retirement, profit- sharing or welfare fund, (vii) a foreign bank or agency of a foreign bank licensed in California,
Sample 1

Related to Xxxxxx’s Right to Encumber

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