Zoning and Contract Changes and Compliance. The Borrower shall not initiate or consent to any zoning reclassification of any of its Borrowing Base Property or seek any variance under any existing zoning ordinance or use or permit the use of any Borrowing Base Property in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrower shall not initiate any change in any laws, requirements of governmental authorities or obligations created by private contracts and Leases which now or hereafter may materially adversely affect the ownership, occupancy, use or operation of any Borrowing Base Property.
Appears in 3 contracts
Samples: Master Credit Agreement (Entertainment Properties Trust), Master Credit Agreement (Entertainment Properties Trust), Master Credit Agreement (Entertainment Properties Trust)
Zoning and Contract Changes and Compliance. The Neither the Borrower nor any Guarantor shall not (a) initiate or consent to any zoning reclassification of any of its Borrowing Base Property Properties or seek any variance under any existing zoning ordinance or use or permit the use of any Borrowing Base Property in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrower shall not regulation or (b) initiate any change in any laws, requirements of governmental authorities or obligations created by private contracts and Leases which now or hereafter may materially adversely affect the ownership, occupancy, use or operation of any Borrowing Base Property.
Appears in 3 contracts
Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)
Zoning and Contract Changes and Compliance. The Neither the Borrower nor any Guarantor shall not (a) initiate or consent to any zoning reclassification of any of its the Borrowing Base Property or seek any variance under any existing zoning ordinance or use or permit the use of any Borrowing Base Property in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrower shall not regulation or (b) initiate any change in any laws, requirements of governmental authorities or obligations created by private contracts and Leases which now or hereafter may materially adversely affect the ownership, occupancy, use or operation of any Borrowing Base Property.
Appears in 2 contracts
Samples: Credit Agreement (Condor Hospitality Trust, Inc.), Management Agreement (New Senior Investment Group Inc.)
Zoning and Contract Changes and Compliance. The Borrower shall not initiate or consent to any zoning reclassification of any of its Borrowing Base the Mortgaged Property or seek any variance under any existing zoning ordinance or use or permit the use of any Borrowing Base the Mortgaged Property in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrower shall not initiate any change in any laws, requirements of governmental authorities or obligations created by private contracts and Leases which now or hereafter may materially adversely affect the ownership, occupancy, use or operation of any Borrowing Base the Mortgaged Property.
Appears in 2 contracts
Samples: Credit Agreement (Dupont Fabros Technology, Inc.), Credit Agreement (Dupont Fabros Technology, Inc.)
Zoning and Contract Changes and Compliance. The Borrower shall not initiate or consent to any zoning reclassification of any of its Borrowing Base Property Asset or seek any variance under any existing zoning ordinance or use or permit the use of any Borrowing Base Property Asset in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation. The Borrower shall not initiate any change in any laws, requirements of governmental authorities or obligations created by private contracts and Leases which now or hereafter may materially adversely affect the ownership, occupancy, use or operation of any Borrowing Base PropertyAsset.
Appears in 1 contract
Samples: Master Credit Agreement (Entertainment Properties Trust)