Drainage Servitude definition
Examples of Drainage Servitude in a sentence
The Drainage Servitude will also include consents by the Company and PNK (LAKE ▇▇▇▇▇▇▇), L.L.C., in their capacities as co-lessees of the Shared Space, to the granting of the Drainage Servitude on, over, under or across the Shared Space and a subordination of the Shared Space Servitude to the Drainage Servitude.
The Drainage Servitude will include a consent by the Company, in its capacity as the tenant under the Ground Lease, to the granting of the Drainage Servitude on, over, under or across the Leased Real Property and a subordination of the Ground Lease to the Drainage Servitude.
The Drainage Servitude will include a duty on the part of the Company and PNK (LAKE ▇▇▇▇▇▇▇), L.L.C. to cooperate with respect to the construction of similar improvements on the Leased Real Property and/or the L’Auberge Lake ▇▇▇▇▇▇▇ property in the future necessitated by future improvements to the respective Properties and the L’Auberge Lake ▇▇▇▇▇▇▇ property including the filing of a perpetual servitude in connection therewith as provided herein for the benefit of the Leased Real Property.
After the Closing, Buyer agrees to cause the Company to record said Drainage Servitude.
The costs associated with the creation of the Drainage Servitude and the maintenance, repair and replacement of the sections of the Company Drainage Improvements which primarily benefit the Shared Space shall be shared equally by the Company and Parent.