Use of the Real Property. The Grantor agrees that it shall not (a) permit the public to use any portion of the Real Property in any manner that could reasonably be expected to impair the Grantor’s title to such property, or to make possible any claim of easement by prescription or of implied dedication to public use, provided Grantor has actual knowledge of such use; (b) institute or acquiesce in any proceeding to change the zoning classification of the Real Property, nor shall the Grantor change the use of the Mortgaged Property in any material way, without the consent of the ABL Controlling Agent, which consent shall not be unreasonably withheld; and (c) permit any material legal or economic waste to occur with respect to the Mortgaged Property.
Use of the Real Property. The Mortgagor agrees that it shall not (a) permit the public to use any portion of the Real Property in any manner that could reasonably be expected to impair the Mortgagor’s title to such property, or to make possible any claim of easement by prescription or of implied dedication to public use, provided Mortgagor has actual knowledge of such use; (b) institute or acquiesce in any proceeding to change the zoning classification of the Real Property, nor shall the Mortgagor change the use of the Mortgaged Property in any material way, without the consent of the Required Lenders, which consent shall not be unreasonably withheld; and (c) permit any material legal or economic waste to occur with respect to the Mortgaged Property.
Use of the Real Property. Mortgagor agrees that it shall not permit the public to use the Real Property in any manner that might tend, in Mortgagee's reasonable judgment, to impair Mortgagor's title to such property or any portion thereof, or to make possible any claim or claims of easement by prescription or of implied dedication to public use.
Use of the Real Property. The Borrower agrees that the Real Property may only be used as a residential apartment complex and for no other purpose. The Real Property may not be converted to a cooperative or condominium without Lender’s prior written consent, which consent may be withheld in Lender's sole and absolute discretion.
Use of the Real Property. The Mortgagor agrees that it shall not (a) permit the public to use any portion of the Real Property in any manner that could reasonably be expected to impair the Mortgagor’s title to such property, or to make possible any claim of easement by prescription or of implied dedication to public use, provided Mortgagor has actual knowledge of such use; (b) institute or acquiesce in any proceeding to change the zoning classification of the Real Property, nor shall the Mortgagor change the use of the Mortgaged Property in any material way, without the consent of the Required Lenders (as defined in the Loan Agreement), which consent shall not be unreasonably withheld; and (c) permit any material legal or economic waste to occur with respect to the Mortgaged Property.
Use of the Real Property. Grantor agrees that it shall not permit the public to use the Real Property in any manner that might tend, in Beneficiary's reasonable judgment, to impair Grantor's leasehold interest in such property or any portion thereof, or to make possible any claim or claims of easement by prescription or of implied dedication to public use.
Use of the Real Property. Mortgagor agrees that it shall not permit the public to use the Real Property in any manner that might tend, in Mortgagee’s reasonable 1 The parties agree that intercompany leases will be subordinated and with respect to any third party leases of the Mortgaged Property that Mortgagee reasonably determines is material, Mortgagor agrees to use commercially reasonable efforts to obtain a subordination, attornment and nondisturbance agreement to the extent required under the applicable leases and this sentence will be modified accordingly. judgment, adversely to impair Mortgagor’s title to such property or any portion thereof, or to make possible any claim or claims of easement by prescription or of implied dedication to public use other than the Permitted Encumbrances or minor encroachments not reasonably expected to result in a Material Adverse Effect. Mortgagor shall not use or permit the use of any part of the Real Property for an illegal purpose. In addition, Mortgagor shall use and operate the Real Property in compliance with all laws, ordinances, codes, rules and regulations, and all orders of any Governmental Authority applicable to the Real Property and its operations (including all Environmental Laws, except where the failure to do so could not reasonably be expected to result in a Material Adverse Effect). Moreover, Mortgagor shall duly and punctually observe and perform each and every material term, provision, condition, and covenant to be observed or performed by Mortgagor pursuant to the terms of any agreement or recorded instrument (including all instruments comprising the Permitted Encumbrances) affecting or pertaining to the Mortgaged Property, except where failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.
Use of the Real Property. The Authority hereby reaffirms its covenant and the Company hereby covenants and agrees that the Real Property shall be subject to the Declaration of Restrictions and shall be used only for Industrial Development Purposes.
Use of the Real Property. As consideration for the agreement of CITY contained herein, APPLICANT agrees that it will diligently and faithfully in a good and workmanlike manner pursue the completion of the construction and the commencement of operations of the qualifying project on the REAL PROPERTY consistent with the requirements set forth herein. APPLICANT agrees that all construction, repairs and improvements to the REAL PROPERTY will be in accordance with all applicable federal, state, and local laws and regulations. The REAL PROPERTY shall be limited in its use to those uses consistent with the development and operation of the qualifying project consistent with the CITY’s development goals, which include the encouraging of development or redevelopment of the reinvestment zone.
Use of the Real Property. Mortgagor agrees that it shall not permit the public to use the Real Property in any manner that might tend, in the Collateral Agent's reasonable judgment, to impair Mortgagor's title to such property or any portion thereof, or to make possible any claim of easement by prescription or of implied dedication to public use. Mortgagor further covenants that it shall not (i) institute or acquiesce in any proceeding to change the zoning classification of the Real Property, (ii) record or permit to be recorded a subdivision plat involving the Land or (iii) change the use of the Mortgaged Property, in each case without the prior written consent of the Collateral Agent, which shall not be unreasonably withheld. Mortgagor represents and warrants to the Collateral Agent as of the date hereof, and covenants to the Collateral Agent so long as this Mortgage shall be in effect, that (i) all permits and licenses required for the use and operation of the Mortgaged Property have been obtained and are in full force and effect, (ii) all utility services necessary for the use and operation of the Mortgaged Property are in place, (iii) there is vehicular and pedestrian access to the Mortgaged Property from public thoroughfares appropriate to the use of the Mortgaged Property and (iv) except as disclosed to the Collateral Agent in writing, the Mortgaged Property is free from loss or damage due to the effect of casualty or condemnation. The Mortgagor shall not permit any legal or economic waste to occur with respect to the Mortgaged Property.
