Common use of Reasonable Modifications Clause in Contracts

Reasonable Modifications. If, in connection with obtaining financing for the Property or refinancing any mortgage encumbering the Property, the prospective Lender or Master Landlord requests reasonable modifications to this Lease as a condition precedent to such financing or refinancing, then Tenant shall not unreasonably withhold, delay or condition its consent to such modifications, provided that such modifications do not (i) increase the Basic Rent or Additional Rent, (ii) increase the security deposit, (iii) reduce the Term, (iv) affect the termination, extension or expansion options, (v) materially and adversely affect the leasehold interest created by this Lease, or (vi) materially and adversely affect the manner in which Tenant’s operations are conducted at the Premises.

Appears in 3 contracts

Samples: Lease Agreement (Cognition Therapeutics Inc), Lease Agreement (Roka BioScience, Inc.), Lease Agreement (Roka BioScience, Inc.)

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Reasonable Modifications. If, in connection with obtaining financing for the Property or refinancing any mortgage encumbering the Property, the prospective Lender or Master Landlord requests reasonable modifications to this Lease as a condition precedent to such financing or refinancing, then Tenant shall not to unreasonably withhold, delay or condition its consent to such modifications, provided that such modifications do not (i) increase the Basic Rent or Additional Rent, (ii) increase the security deposit, if any, (iii) reduce the Term, (iv) affect the termination, extension or expansion options, (v) materially and adversely affect the leasehold interest created by this LeaseLease or any of the rights or obligations hereunder, or (vi) materially and adversely affect the manner in which Tenant’s operations are conducted at the Premises.

Appears in 2 contracts

Samples: Lease Agreement (Roka BioScience, Inc.), Lease Agreement (Roka BioScience, Inc.)

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Reasonable Modifications. If, in connection with obtaining financing for the Property or refinancing any mortgage encumbering the Property, the prospective Lender or Master Landlord Lessor requests reasonable modifications to this Lease as a condition precedent to such financing or refinancing, then Tenant shall Lessee hereby covenants and agrees not to unreasonably withhold, delay or condition its consent to such modifications, provided that such modifications do not (i) increase the Basic Rent or Additional Rent, (ii) do not increase the security depositSecurity, (iii) do not reduce the length of the Term, (iv) do not affect the termination, extension or and/or expansion options, (v) do not materially and adversely affect the leasehold interest created by this Lease, or (vi) Lease and do not materially and adversely affect the manner in which TenantLessee’s operations are conducted at the Premises.

Appears in 1 contract

Samples: Lease Agreement (Digital Domain Media Group, Inc.)

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