Conditions to Alteration Clause Samples

Conditions to Alteration. Provided that no Noticed Default or Event of Default shall have occurred and be continuing hereunder, Mortgage Borrower and Master Lessee shall have the right, without Mezzanine Lender’s consent, to undertake any alteration, improvement, demolition or removal of the Property or any portion thereof (any such alteration, improvement, demolition or removal, an “Alteration”) so long as (i) Mezzanine Borrower causes Mortgage Borrower to provide Mezzanine Lender with not less than ten (10) Business Days prior written notice of any Material Alteration, and (ii) such Alteration is undertaken in accordance with the applicable provisions of the Master Lease, this Agreement and the other Mezzanine Loan Documents and in compliance with all applicable Legal Requirements, is not prohibited by any relevant Operating Agreements and shall not, upon completion (giving credit to rent and other charges attributable to Subleases executed upon such completion), have a Material Adverse Effect on the value, use or operation of the Property taken as a whole or otherwise. Any Material Alteration shall be conducted under the supervision of an Architect and, in connection with any Material Alteration, Mezzanine Borrower shall cause Mortgage Borrower to deliver to Mezzanine Lender concurrently with the notice of such Material Alteration, for information purposes only and not for approval by Mezzanine Lender, detailed plans and specifications, cost estimates therefor as set forth in an Officer’s Certificate, and an estimated date of completion therefore, which date shall be not later than the date which is six (6) months prior to the Maturity Date (unless otherwise consented to in writing by Mezzanine Lender, which consent shall not be unreasonably withheld, conditioned or delayed), all prepared and approved by such Architect. Such plans and specifications may be revised at any time and from time to time by such Architect provided that material revisions of such plans and specifications are filed with Mezzanine Lender, for information purposes only. All work done in connection with any Alteration shall be performed with due diligence in a good and workmanlike manner, all materials used in connection with any Alteration shall not be less than the standard of quality of the materials currently used at the applicable Individual Property and all materials used shall be in accordance with all applicable Legal Requirements and Insurance Requirements. The cost of any Alteration shall be promp...

Conditions to Alteration. Provided that no Event of Default shall have occurred and be continuing hereunder, Borrower (or in the case of the Maryland Property, Maryland Loan Guarantor) shall have the right, without Lender’s consent, to undertake any alteration, improvement, demolition or removal of the Property or any portion thereof (any such alteration, improvement, demolition or removal, an “Alteration”) so long as (i) Borrower provides Lender with prior written notice of any Material Alteration, and (ii) such Alteration is undertaken in accordance with the applicable provisions of this Agreement and the other Loan Documents, is not prohibited by any relevant Lease or Sublease and shall not, upon completion (giving credit to rent and other charges attributable to Leases executed upon such completion), have a Material Adverse Effect on the value, use or operation of the Property taken as a whole or otherwise. Any Material Alteration shall be conducted under the supervision of an Independent Architect and, in connection with any Material Alteration, Borrower shall deliver to Lender, for information purposes only and not for approval by Lender, detailed plans and specifications and cost estimates therefor prepared or approved by such Independent Architect, as well as an Officer’s Certificate stating that such Alteration will involve estimated costs of no more than the Threshold Amount. Such plans and specifications may be revised at any time and from time to time by such Independent Architect provided that material revisions of such plans and specifications are filed with Lender, for information purposes only. All work done in connection with any Alteration shall be performed with due diligence in a good and workmanlike manner, all materials used in connection with any Alteration shall not be less than the standard of quality of the materials currently used at the Property and all materials used shall be in accordance with all applicable material Legal Requirements and Insurance Requirements.

Conditions to Alteration. The Agent may execute any such agreement without the prior consent of any Lender other than the Lender affected, provided, however, that if at the time the Agent proposes to execute such agreement either (A) TBC’s long-term senior unsecured debt is rated lower than A- by S&P or lower than A3 by ▇▇▇▇▇’▇ or (B) a Default has occurred and is continuing, then the Agent shall not execute any such agreement unless it has first obtained the prior written consent of the Majority Lenders, and provided further that the Agent shall not execute any such agreement without the prior written consent of the Majority Lenders if such agreement would increase the total of the Commitments to an amount in excess of $1,500,000,000 or, pursuant to Section 2.20(c), $2,000,000,000.

Conditions to Alteration. Provided that no Event of Default shall have occurred and be continuing hereunder, Grantor shall have the right, without Beneficiary's consent, to undertake any alteration, improvement, demolition or removal of any Property or any portion thereof (any such alteration, improvement, demolition or removal, an "Alteration") so long as (i) Grantor provides Beneficiary with prior written notice of any Material Alteration, and (ii) any Alteration is undertaken in accordance with 58