Landlord's Modification Sample Clauses
The Landlord's Modification clause grants the landlord the right to make changes to the lease or the leased premises under certain conditions. Typically, this clause allows the landlord to alter building rules, common areas, or even the physical structure, provided such modifications do not unreasonably interfere with the tenant's use of the property. Its core function is to provide the landlord with flexibility to manage and improve the property as needed, while balancing the tenant's right to quiet enjoyment, thereby addressing potential conflicts over property changes during the lease term.
Landlord's Modification. Tenant acknowledges that Landlord may mortgage the Leased Property or use the Leased Property as collateral for a collateralized mortgage obligations or Real Estate Mortgage Investment Companies (REMICS). If any mortgage lender of Landlord desires any modification of this Lease, Tenant agrees to consider such modification in good faith and to execute an amendment of this Lease if Tenant finds such modification acceptable in Tenant's reasonable discretion provided such modification does not materially diminish Tenant's rights under the Lease.
Landlord's Modification. Tenant acknowledges that Landlord may mortgage the Leased Property or use the Leased Property as collateral for collateralized mortgage obligations or Real Estate Mortgage Investment Companies (REMICS). If any mortgage lender of Landlord desires any modification of this Lease, Tenant agrees to consider such modification and to execute an amendment of this Lease, at Landlord’s cost and expense, if Tenant finds such modification acceptable, such finding not to be unreasonably withheld; provided that this §24.12 shall not be deemed to require Tenant to enter into any such amendment to the extent that the same would decrease Tenant’s rights or increase Tenant’s obligations hereunder.
Landlord's Modification. The following language (in bold type) shall be added to the Article entitled "Landlord's Modification" appearing in each Sterling Lease: