Common use of Alterations and Expansions Clause in Contracts

Alterations and Expansions. Borrower shall not perform, undertake, contract to perform or consent to any Material Alteration without the prior written consent of Lender, which consent (in the absence of the continuation of an Event of Default) shall not be unreasonably withheld, delayed or conditioned, but may be conditioned on the delivery of additional collateral in the form of cash or cash equivalents acceptable to Lender in respect of the amount by which any such Material Alteration exceeds the Threshold Amount. If Lender’s consent is requested hereunder with respect to a Material Alteration, Lender may retain a construction consultant to review such request and, if such request is granted, Lender may retain a construction consultant to inspect the work from time to time. Borrower shall, on demand by Lender, reimburse Lender for the reasonable fees and disbursements of such consultant.

Alterations and Expansions. Borrower Other than in connection with a casualty or in response to an unforeseen or emergency situation or as required by a Material Property Agreement, the Borrowers shall not, and shall not permit any Subsidiary Owner to, perform, undertake, undertake or contract to perform or consent to any Material Alteration without the prior written consent of Lenderthe Requisite Lenders, which consent (in the absence of the continuation of an Event of Default) shall not be unreasonably withheld, delayed or conditioned, but may be conditioned on the delivery of additional collateral granted or withheld in the form of cash or cash equivalents acceptable to Lender in respect of the amount by which any such Material Alteration exceeds the Threshold AmountLenders’ sole discretion. If Lender’s the Requisite Lenders’ consent is requested hereunder with respect to a Material Alteration, Lender the Lenders may retain a construction consultant to review such request and, if such request is granted, Lender the Lenders may retain a construction consultant to inspect the work from time to time. Borrower The Borrowers shall, on demand by Lenderthe Lenders, reimburse Lender the Lenders for the reasonable fees and disbursements of such consultant.