Future Title Encumbrances Clause Samples

Future Title Encumbrances. Title Encumbrances which are entered into, or become encumbrances on the Retirement Community and/or the Leased Property, after the Commencement Date shall be referred to in this Agreement as "Future Title Encumbrances." Landlord agrees that it will give Tenant and Operator, if applicable, Notice of its intention to execute any Future Title Encumbrances, such Notice to be reasonably in advance of the execution thereof. Landlord covenants that, during the Term of this Agreement, there will not be any Future Title Encumbrances materially affecting the Leased Property or the Retirement Community, unless the Tenant and the Operator, if applicable, have given prior written consent thereto, which consent shall not be unreasonably withheld by Tenant and/or Operator, if applicable, if such Future Title Encumbrance: (i) would not impose any material financial obligations on the Retirement Community; (ii) would not prohibit or limit Tenant and/or the Operator, if applicable, from operating the Retirement Community, including dining and other facilities customarily a part of or related to a similar retirement community, in accordance with the industry standards and the standards set forth in the Operating Agreement during the term of the Operating Agreement; (iii) would not allow the Facility's facilities (for example, parking spaces) to be used by persons other than residents, invitees or employees of the Facility; and (iv) would not adversely affect the value or future use of the Retirement Community.