Common use of Reasonable Modifications Clause in Contracts

Reasonable Modifications. If, in connection with obtaining financing for the Building, a banking, insurance, or other recognized institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant shall not unreasonably withhold, delay, or defer its consent thereto, provided that such modifications do not: (i) increase the obligations of Tenant hereunder or (ii) affect the leasehold interest created or the conduct of Tenant’s business operations at the Premises except in each case, to an immaterial extent.

Appears in 1 contract

Sources: Lease Agreement (Intercept Pharmaceuticals, Inc.)

Reasonable Modifications. If, in connection with obtaining financing for the Building, a banking, insurance, or other recognized institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant shall not unreasonably withhold, delay, or defer its consent thereto, provided that such modifications do notnot in any significant manner: (i) increase the obligations of Tenant hereunder or (ii) affect the leasehold interest created or the conduct of Tenant’s business operations at the Premises except in each case, to an immaterial extentPremises.

Appears in 1 contract

Sources: Lease Agreement (Chartwell International, Inc.)