Approval of Major Contracts. Borrower shall be required to obtain Lender’s prior written approval of any and all Major Contracts affecting the Property, which approval may be granted or withheld in Lender’s reasonable discretion.
Approval of Major Contracts. Borrower and Leasehold Pledgor shall be required to obtain Lender’s prior written approval of any and all Major Contracts affecting any Individual Property, which approval may be granted or withheld in Lender’s reasonable discretion and which approval shall be deemed given by Lender if (I) the first correspondence from Borrower to Lender requesting such approval (A) is enclosed in an envelope marked “PRIORITY”, (B) contains a legend, prominently displayed at the top of each page thereof, in bold, all caps and fourteen (14) point or larger font stating that Borrower or Leasehold Pledgor is requesting the Lender’s approval of a Major Contract under Section 4.14 of the Loan Agreement and that Lender’s failure to respond to such request within ten (10) Business Days following its receipt of such request may result in such request being deemed granted, and (C) is accompanied by an a copy of such proposed Major Contract together with an explanation thereof in such reasonable detail as is necessary to allow Lender to adequately and completely evaluate the request, (II) Lender shall fail to respond to such request within ten (10) Business Days following its receipt of such request, (III) Borrower or Leasehold Pledgor shall deliver to Lender a second written request for approval, which request is delivered in the same manner as contemplated in clause (I) above and states that Lender’s failure to respond to such request within five (5) Business Days following its receipt of such second request, shall result in such request being deemed granted, and (IV) Lender shall fail to respond to such request in the manner contemplated in clause (III) above within such five (5) Business Day period.
Approval of Major Contracts. Each Borrower shall obtain, or cause Operating Lessee to obtain, Lender’s prior written approval of any and all Major Contracts affecting the Property owned by such Borrower, which approval may be granted or withheld in Lender’s sole discretion; provided, however, that this Section shall not apply to the Management Agreements which are the subject matter of Article 7 of this Agreement.
Approval of Major Contracts. Borrower shall not, without Lender's prior O consent: (a) enter into, surrender or terminate any Major Contract to which it is a party or to which Borrower or the Property is subject (unless the other party thereto is in material default and the termination of such agreement would be commercially reasonable), (b) increase or consent to the increase of the amount of any charges under any Major Contract to which it is a party or to which Borrower or the Property is subject, except as provided therein or on an arm's-length basis and commercially reasonable terms; or (c) otherwise modify, change, supplement, alter or amend, or waive or release any of its rights and remedies under any Major Contract to which it is a party or to which Borrower or the Property is subject in any material respect, except on an arm's-length basis and commercially reasonable terms.
Approval of Major Contracts. Borrower shall be required to obtain Agent’s prior written approval of any and all Major Contracts affecting any Property, which approval shall not be unreasonably withheld. Borrower and, with respect to the Properties, Manager shall comply with all applicable labor and employment laws relating to employees and independent contractors and with the Union Contract, and shall make all payments provided for under the Union Contract when due. Agent hereby consents to Mortgage Borrower’s termination of the leasing agreement for the Property with Rxxxxx X. Xxxxxxxxx & Associates, LLC.
Approval of Major Contracts. Borrower shall be required to obtain Agent’s prior written approval of any and all Major Contracts affecting any Property, which approval shall not be unreasonably withheld. Borrower shall cause Mortgage Borrower and Manager to comply with all applicable labor and employment laws relating to employees and independent contractors and with the Union Contract, and shall cause them to make all payments provided for under the Union Contract when due.
Approval of Major Contracts. Borrowers shall be required to obtain Lender’s prior written approval of any and all Major Contracts affecting any Property, which approval shall not be unreasonably withheld, conditioned, or delayed, so long as no Event of Default is continuing. Table of Contents
Approval of Major Contracts. Each Borrower Entity shall be required to obtain Lender’s prior written approval of any and all Major Contracts affecting the Real Property, any Mortgaged Property or any Mortgage Loan, which approval may be granted or withheld in Lender’s sole and absolute discretion; provided, that, such Major Contracts may contain indemnification provisions so long as such Major Contracts are entered into in accordance with the Approved Annual Budget; provided, further, that such indemnification provisions shall be consistent and customary as the norm for that type of third party vendor. Notwithstanding the foregoing, no Major Contract shall provide for any indemnity to any third party vendor for criminal acts, fraud, willful misconduct or gross negligence. In furtherance of the foregoing, Borrower shall, and shall cause each Borrower Subsidiary to, cause each Major Contract to contain a provision therein stating that no indemnity provided to any such third party vendor shall relieve any such third party vendor from any contractual obligation thereunder.
Approval of Major Contracts. Borrower shall be required to obtain Lender’s prior written approval of any and all Major Contracts affecting any Individual Property entered into after the date hereof, which approval may be granted or withheld in Lender’s reasonable discretion. In connection with any Lender consent required hereunder with respect to any Major Contract or any renewal, amendment or modification of a Major Contract, Borrower shall have the right to request Lender to approve the material economic and non-economic terms of such proposed Major Contract or such renewal, amendment or modification of a Major Contract, and in the event Lender approves such material economic and non-economic terms, Lender shall not thereafter have the right to withhold its consent to such Major Contract or such renewal, amendment or modification of a Major Contract based on any objection to any material economic and/or non-economic terms which Lender has previously approved (provided, such Major Contract or such renewal, amendment or modification of a Major Contract is delivered to Lender for approval within 90 days after Lender’s approval of the material economic and noneconomic terms of such Major Contract or such renewal, amendment or modification of a Major Contract).
Approval of Major Contracts. (a) No Borrower shall, without Lender’s prior consent, not to be unreasonably withheld, delayed or conditioned: (a) enter into, surrender or terminate any Major Contract to which it is a party or to which such Borrower or the Property owned by such Borrower is subject (unless the other party thereto is in material default beyond all applicable notice and cure periods), (b) increase or consent to the increase of the amount of any charges under any Major Contract to which it is a party or to which such Borrower or the Property owned by such Borrower is subject, except as provided therein or on an arm’s-length basis and commercially reasonable terms; or (c) otherwise modify, change, supplement, alter or amend, or waive or release any of its rights and remedies under any Major Contract to which it is a party or to which such Borrower or the Property owned by such Borrower is subject in any material respect, except on an arm’s-length basis and commercially reasonable terms.
