Permitted Mortgages. No violation or breach of the covenants, conditions, restrictions, provisions or limitations contained in this Agreement shall defeat or render invalid or in any way impair the lien or charge of any mortgage permitted by the DDA.
Permitted Mortgages. With respect to any Permitted Mortgage made in accordance with the provisions of Section 15, the following provisions shall apply:
Permitted Mortgages. Owner shall not grant any mortgage, ------------------- deed of trust or trust deed, pledge or encumbrance of or other security interest in the Hotel or any part thereof or interest therein (a "Mortgage") unless and until the Acquisition Loan is paid in full, and thereafter, only to a Permitted Mortgage (as hereinafter defined). As used herein, the holders of, or trustee under, any such Mortgage, and the holder of any indebtedness secured thereby herein collectively referred to as the "Mortgagee". As used herein, a "Permitted Mortgage" shall mean any Mortgage which (as such Mortgage is amortized pursuant to its existing terms) or any future Mortgage which shall hereafter be approved in advance and in writing by Manager, such approval of Manager not to be unreasonably withheld; provided, among other things, that the: (i) principal amount of the indebtedness secured by such future Mortgage as it relates to the Hotel when aggregated with all other remaining indebtedness secured by liens against the Hotel is not in excess of the greater of (A) 75% of the then appraised value of the Hotel as determined by Mortgagee in connection with its underwriting of the loan secured by such future Mortgage, or (B) the principal amount of the indebtedness secured by any current Mortgage; (ii) a copy of the Mortgage and other loan documents shall be delivered to Manager upon execution thereof; (iii) the related financing is obtained from an Institutional Lender (as hereinafter defined) which is not an Affiliate of Owner; and (iv) Mortgagee enters into a Subordination, Attornment and Non-Disturbance Agreement with Manager in a form and substance reasonably acceptable to Manager. The foregoing shall be applicable both to original financing and to any refinancing,
Permitted Mortgages. Except as expressly permitted under this Article, Lessor shall not suffer or permit its interest in the Demised Premises to be subject to any mortgage or other lien. The mortgages expressly permitted under this Article are called "Permitted Mortgages".
Permitted Mortgages. The existing, prior first in priority mortgages affecting portions of the Properties which have been approved by the Agent and which are more particularly described on Schedule 1.9, and those first in priority mortgages permitted to be entered into by a Property Owner pursuant to Section 11.9 and to secure Construction Loans in 18 28 accordance with Section 11.25. Person. Any individual, corporation, limited liability company, association, partnership, trust, unincorporated association, business, or other legal entity, and any government or any Governmental Authority or political subdivision thereof.
Permitted Mortgages. The rights and provisions set forth in this Exhibit shall be understood to be provisions of Section 8.2
Permitted Mortgages. This Lease shall be superior to any Permitted Mortgages entered into after the date hereof, unless Tenant and any future Permitted Mortgagees enter into a Subordination, Non-Disturbance and Attornment Agreement substantially similar to that attached as EXHIBIT E.
Permitted Mortgages. The rights and provisions set forth in this Exhibit shall be understood to be provisions of Section
Permitted Mortgages. Owner shall not grant any mortgage, deed of trust or trust deed, pledge or encumbrance of or other security interest in the Hotel or any part thereof or interest therein (a "Mortgage") other than a Permitted Mortgage (as hereinafter defined). As used herein, the holder of or trustee under any such Mortgage, and the holder of any indebtedness secured thereby, are herein Embassy Suites __________ Management Agreement
Permitted Mortgages. The Tenant from time to time during the Term of this Lease may make one or more leasehold mortgages or collateral assignments of this Lease and the leasehold estate in the Land created hereby (each a “Leasehold Mortgage”) provided as a condition thereof such Leasehold Mortgage must comply with the following requirements:
