Common use of Recording; Modification Clause in Contracts

Recording; Modification. Except as set forth on Schedule 7.31, (i) each Ground Lease or a memorandum thereof has been duly recorded, (ii) the Ground Leases permit the interest of the applicable Property Guarantor to be encumbered by a mortgage and (iii) there have not been amendments or modifications to the terms of any Ground Lease since its recordation, with the exception of written instruments which have been recorded. No Property Guarantor shall cancel, terminate, surrender or materially amend, or permit the cancellation, termination, surrender or material amendment of, any Ground Lease without the prior written consent of Administrative Agent.

Recording; Modification. Except as set forth on Schedule 7.31, (i) each Ground Lease or a memorandum thereof has been duly recorded, (ii) the Ground Leases permit the interest of the applicable Property Guarantor Borrower to be encumbered by a mortgage and (iii) there have not been amendments or modifications to the terms of any Ground Lease since its recordation, with the exception of written instruments which have been recorded. No Property Guarantor Borrower shall cancel, terminate, surrender or materially amend, or permit the cancellation, termination, surrender or material amendment of, any Ground Lease without the prior written consent of Administrative Agent.