Common use of Release of Unimproved Parcels Clause in Contracts

Release of Unimproved Parcels. Notwithstanding anything herein to the contrary, Landlord shall have the right from time to time to terminate this Lease, with respect to any Unimproved Parcels located at the Leased Property as well as grant in connection therewith in respect of the Leased Property remaining subject to this Lease reasonable easements, restrictions, covenants, reservations and rights of way for, among other things, traffic circulation, ingress, egress, parking, access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes at no cost to Landlord and with no adjustment in Rent; provided, in each such case, (x) such Unimproved Parcel shall be used either for the purpose of erecting, maintaining and operating cold or dry storage warehouses or other structures and improvements not inconsistent with the use of the related Leased Property, and (y) such termination will not materially adversely affect either the value of the remaining portion of the related Leased Property (as distinguished from the value of the entire Leased Property) or the net operating income of the remaining portion of the Leased Property (taking into account, to the extent applicable, any potential loss of revenue resulting if the transfer and development of the Unimproved Parcel by Landlord were not to occur), as supported by the Officer's Certificate of Landlord described below. As used herein, "Unimproved Parcel" shall mean, with respect to a Leased Property, one or more land areas comprising such Leased Property on which no improvements generating Receipts are situate, and not materially required for the generation of Receipts. In connection with any termination permitted pursuant to this Section, Tenant agrees to execute and deliver any instrument reasonably necessary or appropriate to facilitate said action, subject to Tenant's receipt of:

Release of Unimproved Parcels. Notwithstanding anything herein to the contrary, Landlord shall have the right from time to time to terminate this Lease, with respect to any Unimproved Parcels located at the Leased Property as well as grant in connection therewith in respect of the Leased Property remaining subject to this Lease reasonable easements, restrictions, covenants, reservations and rights of way for, among other things, traffic circulation, ingress, egress, parking, access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes at no cost to Landlord and with no adjustment in Rent; provided, in each such case, (x) such Unimproved Parcel shall be used either for the purpose of erecting, maintaining and operating cold or dry storage warehouses or other structures and improvements not inconsistent with the use of the related Leased Property, and (y) such termination will not materially adversely affect either the value of the remaining portion of the related Leased Property (as distinguished from the value of the entire Leased Property) or the net operating income of the remaining portion of the Leased Property (taking into account, to the extent applicable, any potential loss of revenue resulting if the transfer and development of the Unimproved Parcel by Landlord were not to occur), as supported by the Officer's ’s Certificate of Landlord described below. As used herein, "“Unimproved Parcel" ” shall mean, with respect to a Leased Property, one or more land areas comprising such Leased Property on which no improvements generating Receipts used in connection with the Primary Intended Use are situate, and not materially required for the generation of ReceiptsPrimary Intended Use. In connection with any termination permitted pursuant to this Section, Tenant agrees to execute and deliver any instrument reasonably necessary or appropriate to facilitate said action, subject to Tenant's ’s receipt of:

Release of Unimproved Parcels. Notwithstanding anything herein to the contrary, Landlord but subject to the applicable release requirements under the Landlord’s Loan Documents, Tenant shall have the right from time to time to terminate this Lease, with respect to, and to acquire from Landlord, at no cost to Tenant and with no adjustment in Rent, any Unimproved Parcels located at the Leased Property as well as Property, and each of Landlord and Tenant shall grant to the other in connection therewith in respect of such Unimproved Parcels, on the one hand, and the Leased Property remaining subject to this Lease Lease, on the other hand, reasonable easements, restrictions, covenants, reservations and rights of way for, among other things, traffic circulation, ingress, egress, parking, access, water and sewer lines, telephone and telegraph lines, electric lines or other utilities or for other similar purposes at no cost to Landlord and with no adjustment in RentRent (and in no event shall either of Landlord or Tenant pay to the other monetary compensation for the granting of such easements, restrictions, covenants, reservations and rights of way); provided, in each such case, (x) such Unimproved Parcel shall be used either for the purpose of erecting, maintaining and operating cold or dry storage warehouses or other structures and improvements not inconsistent with the use of the related Leased Property, and (y) such termination will not materially adversely affect either the value of the remaining portion of the related Leased Property (as distinguished from the value of the entire Leased Property) or the net operating income of the remaining portion of the Leased Property (taking into account, to the extent applicable, any potential loss of revenue resulting if the transfer and development of the Unimproved Parcel by Landlord were not to occur), as supported reasonably determined by the Officer's Certificate of Landlord described belowLandlord. As used herein, "“Unimproved Parcel" ” shall mean, with respect to a Leased Property, one or more land areas comprising any undeveloped portion of such Leased Property on as to which no improvements generating Receipts are situate, and Landlord’s Lender has reasonably determined that such portion is not materially required for the generation Primary Intended Use of Receiptssuch Leased Property and that the release of such portion will not adversely affect either the “as leased” appraised value or the net operating income of the remaining portion of Leased Property. For the avoidance of doubt, the erecting, maintaining and operating of residential apartment or condominium complexes on Unimproved Parcels shall not be deemed to be inconsistent with the use of the related Leased Property. In connection with any termination permitted pursuant to this Section, Landlord and Tenant agrees agree to execute and deliver any instrument reasonably necessary or appropriate to facilitate said actionaction (including instruments reasonably required under the Landlord’s Loan Documents), subject to Tenant's Landlord’s receipt of: