Common use of Use and Operation of the Property Clause in Contracts

Use and Operation of the Property. The Requested Action will not unreasonably interfere with the normal use and operation or decrease the value of the Original Mortgaged Property or prohibit vehicular or pedestrian access to and from the Original Mortgaged Property to and from public roads and rights of way. Sufficient easements are permanently in place for all such vehicular and pedestrian access and for any utility or water easements necessary to utilize the Original Mortgaged Property and the Additional Property for their current use. Legal and practical ingress and egress will be available to the Original Mortgaged Property and the Additional Property after the consummation of the Requested Action.

Appears in 2 contracts

Sources: Loan Agreement, Loan Agreement (Glimcher Realty Trust)