Common use of Zoning and Contract Changes and Compliance Clause in Contracts

Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, the Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property without the prior written consent of the Administrative Agent.

Appears in 3 contracts

Samples: Credit Agreement (Las Vegas Sands Inc), Credit Agreement (Grand Canal Shops Mall Construction LLC), Credit Agreement (Las Vegas Sands Inc)

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Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, the Borrowers shall not, and shall not permit any of their Restricted Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers shall not, and shall not permit any of their Restricted Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities Instrumentalities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property without the prior written consent of the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Las Vegas Sands Corp), Credit Agreement (Las Vegas Sands Corp)

Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, the Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities Instrumentalities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property without the prior written consent of the Administrative Agent.

Appears in 2 contracts

Samples: Construction Loan Agreement (Las Vegas Sands Inc), Construction Loan Agreement (Las Vegas Sands Corp)

Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative AgentLender, the Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property without the prior written consent of the Administrative AgentLender.

Appears in 1 contract

Samples: Credit Agreement (Grand Canal Shops Mall Construction LLC)

Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, which approval shall not be unreasonably withheld, conditioned or delayed, the Borrowers Loan Parties shall not, not and shall not permit any of their respective Subsidiaries to, to initiate or consent to any zoning downgrade reclassification of the Mortgaged Property any property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged any Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers Loan Parties shall not, not and shall not permit any of their respective Subsidiaries to, to initiate or consent to any change in any laws, requirements of Governmental Authorities or obligations created by private contracts and Material Leases which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged any Property without the prior written consent of the Administrative Agent.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Capstar Hotel Co)

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Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, the Borrowers Borrower shall not, and shall not permit any of their its Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers Borrower shall not, and shall not permit any of their its Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property without the prior written consent of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Las Vegas Sands Inc)

Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, the Borrowers shall not, and shall not permit any of their Restricted Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers shall not, and shall not permit any of their Restricted Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities Instrumentalities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property without the prior written consent of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Las Vegas Sands Inc)

Zoning and Contract Changes and Compliance. Without the prior written approval of the Administrative Agent, the Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any zoning downgrade of the Mortgaged Property Site or other Project property or seek any material variance under any existing zoning ordinance or use or permit the use of the Mortgaged Property Site or other Project property in any manner that could result in such use becoming a non-conforming use (other than a non-conforming use permissible under automatic grandfathering provisions) under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrowers shall not, and shall not permit any of their Subsidiaries to, initiate or consent to any change in any laws, requirements of Governmental Authorities or obligations created by private contracts which now or hereafter could reasonably be likely to materially and adversely affect the ownership, occupancy, use or operation of the Mortgaged Property Site or the other Project property (including the Collateral), or the ability of the Borrowers to repay the Loans, without the prior written consent of the Administrative Agent.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Grand Canal Shops Mall Construction LLC)

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