Common use of FINANCING REQUIREMENTS Clause in Contracts

FINANCING REQUIREMENTS. In the event that any person, including but not limited to any bank, insurance company, university, pension or welfare fund, savings and loan association, real estate investment trust, business trust, or other financial institution providing financing for the Complex requires, as a condition of such financing, that modifications to this Lease be obtained, and provided that such modifications (i) do not adversely affect Tenant's use of the Premises as herein permitted, (ii) do not materially alter the approved architectural plans and specifications or the description of Landlord's work in Exhibit B, and (iii) do not increase the rentals and other sums required to be paid by Tenant hereunder, Landlord shall submit such required modifications to Tenant, and if Tenant does not enter into and execute a written amendment hereto incorporating such required modifications within thirty (30) days after the same have been submitted to Tenant by Landlord, Landlord shall have the right, at its sole option, (1) to cancel this Lease, (2) to sign on behalf of Tenant pursuant to a power of attorney, which is hereby expressly granted to Landlord by Tenant, or (3) to declare an Event of Default under this Lease. Such options shall be exercisable by Landlord giving Tenant written notice of the option elected. Landlord's exercise of any of the foregoing rights may not materially impair Tenant's use and enjoyment of the Premises or rights under this Lease, nor materially impair Tenant's ingress and egress to and from the Premises.

Appears in 2 contracts

Samples: American Center Lease Agreement (Advanced Switching Communications Inc), Indemnity Agreement (Advanced Switching Communications Inc)

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FINANCING REQUIREMENTS. In the event that If any person, including including, but not limited to to, any bank, insurance company, university, pension or welfare fund, savings and loan association, real estate investment trust, business trust, or other financial institution providing any mortgage, interim construction financing for the Complex Building and/or any mortgage permanent financing for the Building or the Property requires, as a condition of such financing, that (A) modifications to this Lease be obtained, and provided that such modifications (i) do not adversely affect Tenant's ’s use of the Premises as herein permitted, and (ii) do not materially alter the approved architectural plans and specifications or the description of Landlord's work in Exhibit B, and (iii) do not increase the rentals and other sums required to be paid by Tenant hereunder, Landlord shall submit an amendment to this Lease containing such required modifications to Tenant, Tenant and/or that (B) Tenant (and if any Guarantor) provide current financial statements. Tenant agrees to execute said amendment and/or provide such updated financials within thirty (30) days after receipt of such amendment. If Tenant does not enter into and execute a said written amendment hereto incorporating such required modifications and/or such updated financials within thirty (30) days after the same have has been submitted to Tenant by Landlord, then Landlord shall thereafter have the right, at its sole option, to do any or more of the following, at Landlord’s option: (1) to cancel this Lease, (2) to sign said amendment on behalf of Tenant pursuant to a power of attorney, which is hereby expressly granted to the Landlord by Tenant, or (3) to declare an Event event of Default default under this Lease. Such options shall be exercisable by Landlord giving Tenant written notice of the option elected. Landlord's exercise of any of the foregoing rights may not materially impair Tenant's use and enjoyment of the Premises or rights under this Lease, nor materially impair Tenant's ingress and egress to and from the Premises.

Appears in 1 contract

Samples: Lease Agreement (Dupont Fabros Technology, Inc.)

FINANCING REQUIREMENTS. In the event that any person, including but not limited to any bank, insurance company, university, pension or welfare fund, savings and loan association, real estate investment trust, business trust, or other financial institution providing the first mortgage interim construction financing for the Complex Building and/or the first mortgage permanent financing for the Building requires, as a condition of such financing, that modifications to this Lease be obtained, and provided that such modifications (i) do not adversely affect Tenant's ’s use of the Premises as herein permitted, (ii) do not materially alter the approved architectural plans and specifications or the description of Landlord's work ’s work, if any, in Exhibit Bthe Work Agreement, and (iii) do not increase the rentals and other sums required to be paid by Tenant hereunder and (iv) do not materially increase Tenant’s obligations or materially decrease Tenant’s rights hereunder, Landlord shall submit such required modifications to Tenant, and if Tenant does not enter into and execute a written amendment hereto incorporating such required modifications within thirty (30) days after the same have been submitted to Tenant by Landlord, Landlord shall have the right, at its sole option, to (1) to cancel this Lease, (2) to sign on behalf of the Tenant pursuant to a power of attorney, which is hereby expressly granted to the Landlord by TenantXxxxxx, or (3) to declare an Event of Default under this Lease. Such options shall be exercisable by Landlord giving Tenant written notice of the option elected. Landlord's exercise of any of the foregoing rights may not materially impair Tenant's use and enjoyment of the Premises or rights under this Lease, nor materially impair Tenant's ingress and egress to and from the Premises.

Appears in 1 contract

Samples: Western Acquisition Ventures Corp.

FINANCING REQUIREMENTS. In the event that any person, including but not limited to any bank, insurance company, university, pension or welfare fund, savings and loan association, real estate investment trust, business trust, or other financial institution providing mortgage financing for the Complex Property or any part thereof at any time requires, as a condition of such financing, that modifications modification to this Lease be obtained, and provided that such modifications (ia) are reasonable, (b) do not adversely affect TenantLessee's use of the Demised Premises as herein permitted, (ii) do not materially alter the approved architectural plans and specifications permitted or the description term of Landlord's work in Exhibit Bthe Lease, and (iiic) do not increase the rentals and other sums required to be paid by Tenant Lessee hereunder, Landlord then Lessor shall submit such required modifications to TenantLessee, and if Tenant does not enter into and Lessee shall execute a written an amendment hereto incorporating such required modifications within thirty fifteen (3015) days after the same have has been submitted to Tenant by LandlordLessee However, Landlord if the Lessee fails to execute such an amendment or unreasonably withheld, then Lessor shall have the right, at its sole option, (1) right to cancel terminate this Lease, (2) to sign on behalf of Tenant pursuant to a power of attorney, which is hereby expressly granted to Landlord by Tenant, or (3) to declare an Event of Default under this Lease. Such options shall be exercisable by Landlord giving Tenant Lessee written notice of such termination, and Lessor shall thereupon be relieved from any further obligations hereunder GTC-34: PEACEFUL ENJOYMENT OF DEMISED PREMISES Lessor covenants that it has the option elected. Landlordright to make this Lease, and that if Lessee shall pay the rental and perform all of Lessee's exercise of any of the foregoing rights may not materially impair Tenant's use and enjoyment of the Premises or rights obligations under this Lease, nor materially impair Tenant's ingress Lessee shall, during the term hereof, freely, peaceably and egress quietly occupy and enjoy the Demised Premises without molestation or hindrance by Lessor or any party claiming through or under Lessor, subject, however, to and from the Premises.all provisions of this Lease. /s/ Xxxxxxx Xxxxx /s/ Xxxxx Xxxxx

Appears in 1 contract

Samples: Kanbay International Inc

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FINANCING REQUIREMENTS. In the event that If any person, including but not limited to any bank, insurance company, university, pension or welfare fund, savings and loan association, real estate investment trust, business trust, or other financial institution providing the first mortgage interim construction financing for the Building or the Complex and/or the first mortgage permanent financing for the Building requires, as a condition of such financing, that modifications to this Lease be obtained, and provided provide that such modifications (i) do not materially adversely affect Tenant's ’s use of the Premises as herein permitted, (ii) do not materially alter the approved architectural plans and specifications or the description of Landlord's work in Exhibit B, and (iii) do not increase the rentals and other sums required to be paid by Tenant hereunder, Landlord shall submit such required modifications to Tenant, and if Tenant does not enter into and execute a written amendment hereto incorporating such required modifications within thirty (30) days after the same have been be submitted to Tenant by Landlord, then Landlord shall thereafter have the rightright , at its sole option, to (1) to cancel this Lease, (2) to sign on behalf of Tenant pursuant to a power of attorney, which is hereby expressly granted to the Landlord by Tenant, or (3) to declare an Event event of Default default under this Lease. Such options shall be exercisable by Landlord giving Tenant written notice of the option elected. Landlord's exercise of any of the foregoing rights may not materially impair Tenant's use and enjoyment of the Premises or rights under this Lease, nor materially impair Tenant's ingress and egress to and from the Premises.

Appears in 1 contract

Samples: Lease Agreement (Global Secure Corp.)

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