Common use of Alterations and Expansions Clause in Contracts

Alterations and Expansions. Except as expressly required under any Ground Lease, Borrowers shall not perform, undertake, contract to perform or consent to any Material Alteration without the prior written consent of Agentthe Required Lenders, which consent (in the absence of the continuation of an Event of Default) shall not be unreasonably withheld, delayed or conditioned, but may be conditioned on the delivery of additional collateral in the form of cash or cash equivalents acceptable to Agent in respect of the amount by which any such Material Alteration exceeds the Threshold Amount. If Agent’sthe Required Lenders’ consent is requested hereunder with respect to a Material Alteration, Agent or the Required Lenders of either Class may retain a construction consultant to review such request and, if such request is granted, Agent or the Required Lenders of either Class may retain a construction consultant to inspect the work from time to time. Borrowers shall, on demand by Agent or the Required Lenders of either Class, reimburse Agent or the Required Lenders for the reasonable fees and disbursements of such consultant.