Common use of Consents to Summit Contracts Clause in Contracts

Consents to Summit Contracts. All consents, approvals or waivers required to be obtained in connection with the Reorganization from other parties to each mortgage, note, lease, permit, franchise, loan or other agreement or contract to which Summit is a party or by which its assets or properties may be bound or committed, which contract is material to the business, franchises, operations, assets or condition (financial or otherwise) of Summit and its subsidiaries on a consolidated basis, shall have been obtained. The receipt of the documents required by this Article VIII by Prime shall in no way constitute a waiver by Prime of any of the provisions of or its rights under this Agreement.