Common use of Modifications Required by Landlord’s Lender Clause in Contracts

Modifications Required by Landlord’s Lender. If, in connection with Landlord obtaining construction, interim or permanent financing, the lender shall request modifications to this Lease as a condition to such financing, Tenant shall execute such modifications hereto within ten (10) days following written request therefore, provided that such modifications do not increase the financial burdens of Tenant hereunder or unreasonably diminish the value of the leasehold estate. Tenant's failure to so execute such modifications hereto shall be a noncurable default and provide grounds for Landlord's termination of this Lease, among all other rights and remedies of Landlord.

Appears in 2 contracts

Samples: Attornment and Non Disturbance Agreement (Optimer Pharmaceuticals Inc), Attornment and Non Disturbance Agreement (Optimer Pharmaceuticals Inc)

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Modifications Required by Landlord’s Lender. If, in connection with Landlord obtaining construction, interim or permanent financing, the lender shall request modifications to this Lease as a condition to such financing, Tenant shall execute such modifications hereto within ten (10) business days following written request therefore, provided that such modifications do not increase the financial burdens burdens, material affect other obligations of Tenant hereunder hereunder, or unreasonably diminish the value of the leasehold estatematerially decrease Tenant's rights hereunder. Tenant's failure to so execute such modifications hereto shall be a noncurable default and provide grounds for Landlord's termination of this Lease, among all other rights and remedies of Landlord, as set forth in Paragraphs 23 and 24.

Appears in 1 contract

Samples: Building Lease Sorrento Research Facility (Alexion Pharmaceuticals Inc)

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Modifications Required by Landlord’s Lender. If, in connection with Landlord obtaining construction, interim or permanent financing, the lender shall request modifications to this Lease as a condition to such financing, Tenant shall execute such modifications hereto within ten (10) days following written request therefore, provided that such modifications do not increase the financial burdens of Tenant hereunder or unreasonably diminish the value of the leasehold estate. Tenant's ’s failure to so execute such modifications hereto shall be a noncurable default and provide grounds for Landlord's ’s termination of this Lease, among all other rights and remedies of Landlord.

Appears in 1 contract

Samples: Building Lease (Genstar Therapeutics Corp)

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