Common use of Reimbursement Contract Clause in Contracts

Reimbursement Contract. Borrower shall obtain Lender’s written consent not to be unreasonably withheld, conditioned or delayed prior to entering into, consenting to, approving or voting in favor of any contract or agreement with any Governmental Authority providing for the sharing, payment and/or reimbursement of the costs of planning and/or construction with respect to the Property such as, but not limited to, a municipal utility district or public improvement district reimbursement agreement (each, a “Reimbursement Contract”) or prior to becoming an assignee of, or otherwise becoming entitled to receive proceeds under, any such Reimbursement Contract. Notwithstanding anything else to the contrary contained herein or in any other Loan Document, in no event shall any Reimbursement Contract require or result in a subordination of any of Lender’s Liens against the Collateral. Borrower shall not enter into, consent to, approve, or vote in favor of any material amendment or modification of any Reimbursement Contract without Lender’s prior written consent not to be unreasonably withheld, conditioned or delayed; provided, however, that any such amendment shall be deemed to be material if such amendment could reasonably be expected to delay, hinder or impede Borrower’s payment of the Debt or any portion thereof or performance of any of its Obligations under the Loan Documents.