Immaterial Transfers. Borrower may, without the consent of Lender, (i) make immaterial transfers of portions of the Property to Governmental Authorities for dedication or public use (subject to the provisions of Section 8.03), and (ii) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes, provided that no such transfer, conveyance or encumbrance set forth in the foregoing clauses (i) and (ii) shall materially impair the utility, operation or value of the applicable Individual Property. In connection with any such transfer permitted pursuant to this Section 7.06, Lender, upon receipt of written request from Borrower, shall execute and deliver any instrument reasonably necessary or appropriate, in the case of any transfer referred to in clause (i) above, to release the portion of the Property affected by such transfer from the Lien of the applicable Mortgage or, in the case of clause (ii) above, to subordinate the Lien of the applicable Mortgage to such easements, restrictions, covenants, reservations and rights of way or other similar grants upon receipt by Lender of:
Immaterial Transfers. Subject to the provisions of Section 6.4(3)(ii) above, the Borrower and the Leasehold Holder may, subject to the prior written consent of the Administrative Agent, not to be unreasonably withheld, (A) make immaterial Dispositions (including, but not limited to, lot line adjustments) of portions of the Mortgaged Property to Governmental Authorities for dedication or public use or, portions of the Mortgaged Property to third parties for the purpose of erecting and operating additional structures whose use is integrated with the use of the Mortgaged Property or resolving encroachment issues, and (B) grant easements, restrictions, covenants, reservations and rights of way for resolving minor encroachment issues or for access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes, provided that no such Disposition set forth in the foregoing clauses (A) and (B) shall materially impair the value, utility or operation of the subject Mortgaged Property and, provided further, that as a condition to the Administrative Agent’s consent to any such Disposition set forth in clauses (A) and (B), Borrower or Leasehold Holder shall demonstrate to Administrative Agent’s reasonable satisfaction that any such Disposition and the related easements, restrictions, covenants, reservations and rights of 105 way or other similar grants are designed to and may be expected to enhance the value, utility, operation and future development potential of the subject Mortgaged Property, and to the extent Borrower or Leasehold Holder is paid or becomes entitled to any payment or other compensation therewith with respect to any such Disposition, such amount (less reasonable and customary costs and expenses incurred in connection with such Disposition) shall be remitted by Borrower or the Leasehold Holder to Administrative Agent for application against the outstanding Obligations. In connection with any Disposition permitted pursuant to this Section 6.4(3)(iii), the Administrative Agent shall execute and deliver any instrument reasonably necessary or appropriate, in the case of the Dispositions referred to in clause (A) above, to release the portion of the Mortgaged Property affected by such Disposition from the Lien of the Security Instruments or, in the case of clause (B) above, to subordinate the Lien of such Security Instruments to such easements, restrictions, covenants, reservations and rights of way or other similar grants u...
Immaterial Transfers. Any PropCo Subsidiary may make immaterial Transfers of portions of any Borrowing Base Property to Governmental Authorities for dedication or public use (subject to the provisions of Section 9.2) or portions of any Borrowing Base Property to third parties for the purpose of erecting and operating additional structures whose use is integrated with the use of such Borrowing Base Property, provided that (x) no such Transfer shall materially impair the utility and operation of such Borrowing Base Property or would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect on the value of the Borrowing Base Properties taken as a whole and (y) the Administrative Agent receives:
Immaterial Transfers. The Borrower may, without the consent of the Administrative Agent, (A) make immaterial Dispositions (including, but not limited to, lot line adjustments) of portions of the Mortgaged Property to Governmental Authorities for dedication or public use or, portions of the Mortgaged Property to third parties for the purpose of erecting and operating additional structures whose use is integrated with the use of the Mortgaged Property or resolving encroachment issues, and (B) grant easements, restrictions, covenants, reservations and rights of way for resolving minor encroachment issues or for access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes, provided that no such Disposition set forth in the foregoing clauses (A) and (B) shall materially impair the value, utility or operation of the subject Mortgaged Property. In connection with any Disposition permitted pursuant to this Section 6.4(3)(iii), the Administrative Agent shall execute and deliver any instrument reasonably necessary or appropriate, in the case of the Dispositions referred to in clause (A) above, to release the portion of the Mortgaged Property affected by such Disposition from the Lien of the Security Instruments or, in the case of clause (B) above, to subordinate the Lien of such Security Instruments to such easements, restrictions, covenants, reservations and rights of way or other similar grants upon receipt by the Administrative Agent of:
Immaterial Transfers. The Borrowers and their Subsidiary Entities may, without the consent of the Administrative Agent, (a) make immaterial Dispositions (including, but not limited to, lot line adjustments) of portions of the Mortgaged Property to Governmental Authorities for dedication or public use or, portions of the Mortgaged Property to third parties for the purpose of erecting and operating additional structures whose use is integrated with the use of the Mortgaged Property or resolving encroachment issues, and (b) grant easements, restrictions, covenants, reservations and rights of way for resolving minor encroachment issues or for access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes, provided that no such Disposition set forth in the foregoing clauses (a) and (b) shall materially impair the value, utility or operation of the subject Mortgaged Property. In connection with any Disposition permitted pursuant to this Section 6.4(5)(ii), the Administrative Agent shall execute and deliver any instrument reasonably necessary or appropriate, in the case of the Dispositions referred to in clause (a) above, to release the portion of the Mortgaged Property affected by such Disposition from the Lien of the applicable Security Instrument or, in the case of clause (b) above, to subordinate the Lien of such Security Instrument to such easements, restrictions, covenants, reservations and rights of way or other similar grants upon receipt by the Administrative Agent of:
