Common use of Zoning Reclassification Clause in Contracts

Zoning Reclassification. Without the prior written consent of Mezzanine Lender, initiate or permit any party to consent to (a) any zoning reclassification of any portion of the Collateral, (b) seek any variance under any existing zoning ordinance that could result in the use of the Collateral becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation, or (c) allowing any portion of the Collateral to be used in any manner that could result in the use of the Collateral becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation;

Appears in 1 contract

Sources: Loan and Security Agreement (CS Financing CORP)

Zoning Reclassification. Without the prior written consent of Mezzanine Lender, initiate or permit any party the Senior Tier Mezzanine Borrower to consent to (a) any zoning reclassification of any portion of the CollateralProperty, (b) seek any variance under any existing zoning ordinance that could result in the use of the Collateral Property becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation, or (c) allowing any portion of the Collateral Property to be used in any manner that could result in the use of the Collateral Property becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation;

Appears in 1 contract

Sources: Junior Tier Mezzanine Loan and Security Agreement (Maguire Properties Inc)