Common use of Memorandum for Recordation Clause in Contracts

Memorandum for Recordation. (a) A memorandum of this Agreement (“Memorandum”) in the form annexed hereto as Exhibit H shall be recorded in the public records of the County of Bergen, State of New Jersey; provided, however, in no event shall the Memorandum be recorded against the ERC Site. In the event that this Agreement is terminated pursuant to the terms hereof, the MC Partners covenant and agree to promptly take any and all actions reasonably necessary to cause the Memorandum to be removed from the public records of the County of Bergen, State of New Jersey, at their sole cost and expense. The preceding covenant shall be applicable whether or not the MC Partners have received a written request regarding the taking of any such action. Each of the MC Partners hereby designates MDLP and its managing general with full power of substitution, as each party’s true and lawful attorney to act, and in such party’s name, place and stead, to make, execute, sign and acknowledge all documents, instruments to accomplish the intention of this Section 33(a) at the sole cost and expense of the MC Partners as provided in the second sentence hereof. (b) Neither the MC Partners nor their Affiliates shall record, or cause to be recorded, this Agreement, the Memorandum and/or any similar instruments against all or any portion of the Project Site or with any Governmental Authority, except to the extent expressly provided in Section 33(a).