Common use of Primary Permitted Lien Clause in Contracts

Primary Permitted Lien. The Primary Lien is subject to the following provisions; 17.12.1 Until the Project is completed, the Primary Lien shall not be cross collateralized or cross defaulted with any debt or lien related to property other than the Premises. Until the Project is completed, the Primary Lien shall cover no interests in any real property other than ▇▇▇▇▇▇'s interests in the Premises and the rents and profits under any permitted subleases. 17.12.2 The holder of the Primary Lien (the “Primary Lienholder”) shall promptly give notice to Lessor of the creation of the Primary Lien and any modification, renewal, termination, default or enforcement of the Primary Lien, and any notices to Lessee related thereto. Such notices shall be accompanied by true copies of the Primary Lien or other correspondence or instruments pertaining to the notice. Primary Lienholder shall notify Lessor of the address to which notices to Primary Lienholder shall be sent. 17.12.3 The Primary Lien shall contain no provisions inconsistent with or purporting to alter in any way the provisions of this Agreement. This Agreement shall control any inconsistent terms or provisions in the Primary Lien or in any document of any description related to the Primary Lien. 17.12.4 Primary Lienholder shall have a limited right to cure deficiencies in ▇▇▇▇▇▇'s performance under this Agreement (the “Cure Right”) as follows: 17.12.4.1 The Cure Right is that, in the event of an Event of Default; 17.12. 4.1.1 Lessor shall not terminate this Agreement without first giving Primary Lienholder notice of the Event of Default; and