Permitted Easements definition
Permitted Easements shall have the meaning set forth in Section 11.1. “Permitted Encumbrances” shall have the meaning set forth in Section 11.1. “Permitted Investments” shall mean:
Permitted Easements means (1) easements, licenses, rights-of-way and other rights and privileges in the nature of easements reasonably necessary or desirable for the use, repair, or maintenance of any real property and (2) if required by a governmental authority, the dedication or transfer of unimproved portions of any real property for road, highway or other public purposes; so long as, in each case (i) such grant, dedication or transfer does not materially impair the value of the remaining useful life of the applicable real property or the fair market value of such real property or materially impair or interfere with the use or operations thereof, and (ii) such grant, dedication or transfer is reasonably necessary in connection with the use, maintenance, alteration or improvement of the applicable real property.
Permitted Easements means easements, rights of way, restrictions, covenants, reservations, and other similar encumbrances (or amendments thereto or terminations thereof) and construction access agreements in connection with any Individual Property and/or any other neighboring development or property (i) reasonably approved by Lender, (ii) expressly set forth in Leases executed on or prior to the date hereof, or in any other Lease for which Lender’s approval is obtained (or with respect to any Lease that is not a Major Lease, with the prior written consent of the Lender), or (iii) entered into by Borrower in the ordinary course of business for use, access, ingress, egress, traffic circulation, parking, development and construction, water and sewer lines, telephones and telegraph lines, electric lines, internet, cable, and Wi-Fi hardware, other utilities, solar and/or fuel cell facilities, or for other similar purposes, provided that no such easement or other similar encumbrance shall materially impair the use, operation or value of the Property or otherwise have, or be reasonably expected to result in, an Individual Material Adverse Effect; provided, that with respect to clause (iii), in no event shall a Permitted Easement be deemed to include an “easement of light and air” or a transfer of any air or development rights, unless otherwise approved by the Lender in its reasonable discretion. To the extent that the Deemed Approval Requirements are fully satisfied in connection with any Borrower request for approval under clause (i) of this definition, Lender’s approval shall be deemed given with respect to the matter for which approval was requested.
Examples of Permitted Easements in a sentence
Notwithstanding the foregoing, the Company shall be entitled to grant gratuitous Permitted Easements in connection with the construction and operation of Released Property Facilities and Exempted Sale Leaseback Transactions and shall be entitled to make capital contributions to Subsidiaries to the extent permitted pursuant to Section 6.13.
The Authority holds or will hold by not later than the Commencement Date (i) good and marketable fee title to each property owned by the Authority, and (ii) valid and enforceable leases, licenses, and easements over any and all portions of the Stadium Site, in each case, free and clear of all encumbrances other than the Permitted Encumbrances and Permitted Easements.
This subordination is automatic and self-operative; however, upon written notice from Mortgagor, at Mortgagor's cost, Mortgagee shall execute and deliver any and all instruments and agreements requested by Mortgagor to confirm or evidence this subordination with respect to all or any particular Permitted Easement(s).
Notwithstanding anything to the contrary contained herein regarding the priority of this Mortgage, Mortgagee hereby expressly subordinates the lien of this Mortgagee to any and all Permitted Easements hereafter granted by Mortgagor over the Mortgaged Property in accordance with the Indenture.
Notwithstanding the foregoing, the Company shall be entitled to grant gratuitous Permitted Easements in connection with the construction and operation of Released Property Facilities and shall be entitled to make capital contributions to Subsidiaries to the extent permitted pursuant to Section 6.13.
More Definitions of Permitted Easements
Permitted Easements means any easement granted by Borrower in the ordinary course of business after the Closing Date for water and sewer lines, telephone lines, electric lines or other similar utilities, provided that (i) the easement depicts the specific dimensions and location of the easement area (e.g., is not blanket) which may not be under any Improvements, (ii) the use of the easement is limited to providing water, sewer, telephone, electric or other similar utility services to the Property, (iii) no such conveyance, grant or encumbrance shall impair the utility or operation of the Property or cause a Material Adverse Change to the Property, (iv) the easement does not contain language intended to make it superior to the lien of the Security Instrument, and (v) Borrower provides a copy of the final recorded easement to Lender within ten (10) days of execution.
Permitted Easements means, all rights-of-way, easements, rights of use or similar rights granted by the Borrower or the Lessee over any portion of the Project which, in the aggregate, do not materially (i) diminish the value of the Project or (ii) interfere with the ordinary conduct of the business of the Borrower or the Lessee, in each instance under clauses (i) or (ii), as conclusively established by a board resolution of the Borrower or the Lessee, as applicable. For the avoidance of doubt, any of the foregoing which would create or result in a Material Adverse Effect is strictly prohibited.
Permitted Easements means (a) easements, licenses, rights-of-way and other rights and privileges in the nature of easements reasonably necessary or desirable for the use, repair, or maintenance of any Real Property as herein provided and (b) if required by applicable Governmental Authority, the dedication or transfer of unimproved portions of any Real Property for road, highway or other public purposes; so long as, in each case (other than with respect to Real Property subject to the Synthetic Leases) (i) such grant, dedication or transfer does not materially impair the value or remaining useful life of the applicable Real Property or the fair market value of such Real Property or materially impair or interfere with the use or operations thereof, (ii) such grant, dedication or transfer, in Administrative Borrower's business judgment, is reasonably necessary in connection with the use, maintenance, alteration or improvement of the applicable Real Property and (iii) such grant, dedication or transfer will not cause the applicable Real Property or any portion thereof to fail to comply with the provisions of the Loan Documents and all Applicable Law.
Permitted Easements means (a) easements, licenses, rights-of-way and other rights and privileges in the nature of easements reasonably necessary or desirable for the use, repair, or maintenance of any Real Property as herein provided and (b) if required by applicable Governmental Authority, the dedication or transfer of unimproved portions of any Real Property for road, highway or other public purposes; so long as, in each case (i) such grant, dedication or transfer does not materially impair the value or remaining useful life of the applicable Real Property or the fair market value of such Real Property or materially impair or interfere with the use or operations thereof, (ii) such grant, dedication or transfer, in the Company's business judgment, is reasonably necessary in connection with the use, maintenance, alteration or improvement of the applicable Real Property and (iii) such grant, dedication or transfer will not cause the applicable Real Property or any portion thereof to fail to comply with the provisions of the Note Documents and all Applicable Law.
Permitted Easements means easements and other similar encumbrances (or amendments thereto) (i) approved by Administrative Agent, (ii) entered into by Borrower in the ordinary course of business for use, access, water and sewer lines, telephones and telegraph lines, electric lines or other utilities or for other similar purposes, provided that no such easement or other similar encumbrance shall materially impair the use, operation or value of the Property or otherwise have a Material Adverse Effect, (iii) disclosed on the Title Policy, (iv) contained in the REA, or (v) otherwise permitted pursuant to the terms of the Loan Documents; provided that in no event shall a Permitted Easement be deemed to include an “easement of light and air” or a transfer of any air or development rights or, unless otherwise approved by the Administrative Agent in its reasonable discretion, parking rights.
Permitted Easements has the meaning given within the definition of Permitted Liens.
Permitted Easements means all rights-of-way, easements, rights of use, rights of access, or similar rights granted by any Repauno Entity over all or any portion of any Project, or any land, which, in the aggregate, do not materially (i) diminish the value of any Project encumbered thereby or (ii) interfere with the ordinary conduct of the business of the applicable Repauno Entity with respect to any Project encumbered thereby, in each instance under clauses (i) or (ii), as conclusively established by a resolution of such Repauno Entity. For the avoidance of doubt, any of the foregoing which would create or result in a Material Adverse Effect is strictly prohibited.