ZLDA definition
Examples of ZLDA in a sentence
The subordination by Agent of the Liens of the Mortgage to the ZLDA shall not be deemed to impair, abridge or otherwise affect the restrictions on Transfers set forth in this Agreement and the Mortgage, which shall remain in full force and effect.
The ZLDA is in full force and effect, neither Borrower is in default thereunder and, to the best of Borrower's knowledge, there are no conditions which, with the passage of time or the giving of notice, or both, would constitute a default thereunder.
Guarantor’s obligations under this Guaranty shall fully cease and terminate and be automatically be discharged without necessitating that any further action be taken, upon the first to occur of (i) the sixth (6th) anniversary of the date of issuance of a temporary certificate of occupancy for the New Developer Building; or (ii) upon the transfer, sale, or conveyance of the Owner Premises to any person or entity other than an Affiliate (as defined in the ZLDA) of Owner (the “Termination Date”).
Notwithstanding the foregoing, in the event Purchaser determines, in its sole discretion, that the New Building will not need to cantilever over Lot 58, the parties hereto hereby agree to amend the ZLDA to remove such right to cantilever.
In addition, Purchaser hereby acknowledges and agrees that Seller shall retain the right to use and access the roof of the L▇▇ ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (▇▇▇▇▇ the Fee Above a Plane), subject to the terms and conditions of the ZLDA.
The ZLDA shall be in form and substance reasonably acceptable to Purchaser and the Adjacent Owner and shall be deemed a Permitted Exception.
The terms utilized in this Guaranty shall have the same meaning as defined in the ZLDA, except as otherwise expressly provided.
All other items of additional rent and/or other charges payable to Ground Lessor accrued to date under the Ground Lease, including, without limitation, (i) the Vacate Payment, and (ii) the payment due by Ground Tenant to Ground SMRH:479720967.5 68 Lessor in connection with the delivery of the Court Order and the ZLDA, have been paid in full through [____________].
Borrower shall comply with all of its obligations under the terms and provisions of the ZLDA.
If the Eastern Lot is transferred to Purchaser after the Closing, then Purchaser and Seller shall execute and record an amendment to the ZLDA to reflect the transfer of the Eastern Lot from the Owner Land to the Developer Land (as such terms are defined in the ZLDA) with no change in the Developer Floor Area Development Rights.