Common use of Development Applications Clause in Contracts

Development Applications. The Tenant, at the Tenant’s expense, may apply for and have approved any rezoning, subdivision and similar applications and approvals required in relation to any Tenant Amenity Development and any Expansion Facility (each, an “Application”, and collectively, the “Applications”), and the Landlord agrees that it shall, at the sole cost of the Tenant, use commercially reasonable efforts to facilitate any such Applications. If, in order to obtain approval of the Applications or to develop such Expansion Facility or Tenant Amenity Development: (i) new Permitted Encumbrances described in paragraphs (a) or (b) of Schedule “E”; (ii) portions of the Lands are required to be conveyed to a Governmental Authority for road widenings or intersections, then, in each case, the Landlord covenants to use commercially reasonable efforts to do so, without cost to the Landlord, and within a reasonable period of time following request. In addition, to the extent required by the Tenant in connection with the foregoing, the Landlord agrees to use commercially reasonable efforts to obtain postponements from its Mortgagees of the Mortgages to any such Permitted Encumbrances, and, where required, use commercially reasonable efforts to obtain partial discharges thereof, to the extent of such conveyances of land to Governmental Authorities. Notwithstanding the foregoing to the contrary, Landlord has the right to approve each Application, Permitted Encumbrance and Land conveyance, each as to form and substance, such approvals not to be unreasonably withheld.

Appears in 2 contracts

Sources: Agreement of Purchase and Sale (GTWY Holdings LTD), Agreement of Purchase and Sale (Gateway Casinos & Entertainment LTD)