Air Space definition
Examples of Air Space in a sentence
The Borrowers shall fully perform and comply with or cause to be performed and complied with all of the respective material covenants, material terms and material conditions imposed or assumed by it as licensee under the Pedestrian Crossing Air Space License.
The Borrowers shall not, and shall not agree to, enter into any material amendment or modification of or terminate the Pedestrian Crossing Air Space License without the prior written consent of the Required Lenders.
Notwithstanding anything to the contrary set forth in this Agreement, in no event shall the fee interest in the Easement Air Space be subordinate to any Mortgage.
Grantee shall take commercially reasonable action to ensure that the construction, maintenance, use and operation of the Improvements constructed within the Easement Air Space does not pose a threat, danger or interference with the health, welfare, or safety of the public in the operation of any property of Grantor adjacent to the Easement Air Space or Buildings as currently in use or as the same may be used in the future.
Grantee shall maintain, repair and replace, as necessary, all Improvements constructed on or within the Easement Air Space in good condition and in good repair at all times.
The Grantor hereby reserves to itself all rights and privileges in and to the Easement Air Space not inconsistent herewith and as may be used and enjoyed without interfering or abridging the rights hereby conveyed.
Upon completion of construction of the Improvements or any maintenance or repairs thereto, Grantee shall repair any damage to any property owned by the Grantor arising out of Grantee’s construction, maintenance or repair activities within the Easement Air Space.
Borrower shall not amend, modify or terminate, or enter into any agreement to amend, modify or terminate the Pedestrian Crossing Air Space License without the prior written consent of Agent Bank, which consent shall not be unreasonably withheld or delayed, or if in the opinion of Agent Bank such amendment, modification or termination is materially adverse to Borrower or the Banks, without the prior written consent of Requisite Lenders.
Until Bank Facilities Termination, Borrower shall fully perform and comply with or cause to be performed and complied with all of the respective material covenants, material terms and material conditions imposed or assumed by it as licensee under the Pedestrian Crossing Air Space License.
All provisions of this Agreement, including the benefits and burdens, shall run with the title to the Easement Air Space and the Benefitted Property, and are binding upon and inure to the benefit of heirs, successors, and assigns of Grantor and Grantee.