Dividing Line Changes Sample Clauses

Dividing Line Changes. (i) The parties acknowledge that the Buyer/Seller Lease and Build-to- Suit Lease contemplate the division of the Property into two separate lots, one of which shall be the Leased Parcel, which shall contain the Building and certain of the Improvements, and the second of which shall be BTS Parcel, which shall be the location for the construction of the new building and improvements contemplated under the Built- to-Suit Lease. The parties further acknowledge that the lot line separating the Leased Parcel from the BTS Parcel as shown on Exhibit A-1 (the “Dividing Line”) represents the parties’ good faith belief as of the Effective Date as to the proper location for such a dividing line. Landlord shall have the right prior to the Closing, however, to adjust the location of the Dividing Line, subject to the prior approval of Seller (which shall not be unreasonably withheld, conditioned, or delayed). Upon such adjustment, Exhibit A-1 shall be revised accordingly. (ii) Following the execution of this Agreement, Buyer shall engage a surveyor to commence those activities reasonably necessary to split the Land into the Leased Parcel and the BTS Parcel based on the Dividing Line (as the same may be adjusted as set forth in clause (i) above). All plans and submissions related to the lot split shall be subject to the prior approval of Seller and in no event shall any plan showing the lot split be recorded in the Middlesex North District Registry of Deeds or the Middlesex North Registry District of the Land Court Registered Land Section unless and until the Closing hereunder has occurred. Seller, at no expense to Seller, shall cooperate with Buyer in connection with the proposed lot split. Under no circumstances shall Seller’s failure to comply with its obligations under this Section 14(g)(ii) result in a delay of the Closing.