Common use of Financing Requirements Clause in Contracts

Financing Requirements. In the event that any bank, insurance company, or other financial institution providing mortgage financing for the Property or any part thereof at any time requires, as a condition of such financing, that modification to this Lease be obtained, and provided that such modifications (a) are reasonable, (b) do not affect Lessee's use of the Demised Premises as herein permitted or the term of the Lease, and (c) do not increase the rentals and other sums required to be paid by Lessee hereunder, then Lessor shall submit such required modifications to Lessee, and Lessee stall execute an amendment hereto incorporating such modifications within fifteen (15) days after the same has been submitted to Lessee However, if the Lessee fails to execute such an amendment or unreasonably withheld, then Lessor shall have the right to terminate this Lease, by giving Lessee written notice of such termination, and Lessor shall thereupon be relieved from any further obligations hereunder.

Financing Requirements. In the event that any bank, insurance company, or other financial institution providing mortgage financing for the Property or any part thereof at any time requires, as a condition of such financing, that modification to this Lease be obtained, and provided that such modifications (a) are reasonable, (b) do not affect Lessee's use of the Demised Premises as herein permitted or the term of the Lease, and (c) do not increase the rentals and other sums required to be paid by Lessee hereunder, then Lessor shall submit such required modifications to Lessee, and Lessee stall shall execute an amendment hereto incorporating such modifications within fifteen (15) days after the same has been submitted to Lessee However, if the Lessee fails to execute such an amendment or unreasonably withheld, then Lessor shall have the right to terminate this Lease, by giving Lessee written notice of such termination, and Lessor shall thereupon be relieved from any further obligations hereunder.

Financing Requirements. In the event that any bank, insurance company, or other financial institution providing mortgage financing for the Property or Propertyor any part thereof at any time requires, as a condition of such financing, that modification to this Lease be obtained, and provided that such modifications (a) are reasonable, (b) do not affect Lessee's use of the Demised Premises as herein permitted or the term of the Lease, and (c) do not increase the rentals and other sums required to be paid by Lessee hereunder, then Lessor shall submit such required modifications to Lessee, and Lessee stall shall execute an amendment hereto incorporating such modifications within fifteen (15) days after the same has been submitted to Lessee However, if the Lessee fails to execute such an amendment or unreasonably withheld, then Lessor shall have the right to terminate this Lease, by giving Lessee written notice of such termination, and Lessor shall thereupon be relieved from any further obligations hereunder.