Common use of Recording; Modification Clause in Contracts

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lender.

Appears in 2 contracts

Sources: Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc)

Recording; Modification. A memorandum of the The Ground Lease (or a memorandum thereof) has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgagemortgage or the ground lessor has approved and consented to the encumbrance of the applicable Collateral Property by the respective Mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground LeaseBorrower will not cancel, terminate, surrender or amend the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lender.

Appears in 2 contracts

Sources: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender , with Section 15.2 the exception of the Ground Lease, the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lenderinstruments which have been recorded.

Appears in 2 contracts

Sources: Loan Agreement (Black Creek Diversified Property Fund Inc.), Loan Agreement (Black Creek Diversified Property Fund Inc.)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended and Borrower’s rights under the Ground Lease may not be waived without the prior written consent of Lender.

Appears in 2 contracts

Sources: Loan Agreement (NOVONIX LTD), Loan Agreement (NOVONIX LTD)

Recording; Modification. A The Ground Lease or a memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, surrendered or modified without the prior written consent of notice given to Lender and any such action without such prior written notice shall not be binding on Lender.

Appears in 1 contract

Sources: Loan Agreement (Ashford Hospitality Prime, Inc.)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Mortgage Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender , with Section 15.2 the exception of the Ground Lease, the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lenderinstruments which have been recorded.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Black Creek Diversified Property Fund Inc.)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgagethe Mortgages. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordationthe recordation of such memorandum, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender, which consent may be withheld in Lender’s sole and absolute discretion.

Appears in 1 contract

Sources: Acquisition and Project Loan Agreement (KBS Strategic Opportunity REIT II, Inc.)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest interests of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of So long as a "Leasehold Mortgage" (as defined in the Ground Lease) is in effect, the Ground Lease may not be canceled, surrendered surrendered, modified or modified amended without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Glimcher Realty Trust)

Recording; Modification. A The Ground Lease or a memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded or in respect of which a memorandum has been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Behringer Harvard Reit I Inc)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Alexanders Inc)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgagemortgage or the ground lessor has approved and consented to the encumbrance of the Property by the Mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been delivered to Lender. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Prime Group Realty Trust)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgagemortgage or the ground lessor has approved and consented to the encumbrance of the Property by the Mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended by Borrower without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Prime Group Realty Trust)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, surrendered terminated or modified surrendered, and none of the terms and provisions of the Ground Lease may be modified, changed, supplemented, altered, amended or waived, without in each case the prior written consent of Lender, except in accordance with Article V.C of the Ground Lease.

Appears in 1 contract

Sources: Loan Agreement (TNP Strategic Retail Trust, Inc.)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Ground Lease Borrower to be encumbered by a mortgage. Except the Mortgage and, except as described provided for in Sections 3.1(i) and 5.6 of the definition of “Ground Lease, there does not restrict the use of the Property by Ground Lease Borrower or its successors and assigns. There have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender , with Section 15.2 the exception of the Ground Lease, the Ground Lease may not be canceled, surrendered or modified without the prior written consent of Lenderinstruments which have been recorded.

Appears in 1 contract

Sources: Loan Agreement (Griffin Capital Essential Asset REIT, Inc.)

Recording; Modification. A memorandum of the each Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”set forth on Schedule VIII, there have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of LenderAdministrative Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Morgans Hotel Group Co.)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The Ground Lease permits the interest interests of Fee Borrower and Leasehold Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Glimcher Realty Trust)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The , the Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except this Security Instrument or the lessor under the Ground Lease (the "GROUND Lessor") has approved and consented to the encumbrance of the Property by this Security Instrument and except as described in the definition of “Ground Lease”set forth on Schedule I, there have not been amendments or modifications to the terms of the Ground Lease since its recordationrecordation thereof. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Alexanders Inc)

Recording; Modification. A memorandum of the Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation. Assuming compliance by Lender , with Section 15.2 the exception of the Ground Lease, the Ground Lease may not be canceled, surrendered written instruments which have been recorded or modified without the prior written consent copies of which otherwise provided to Lender.

Appears in 1 contract

Sources: Loan Agreement (Glimcher Realty Trust)

Recording; Modification. A memorandum of the The Ground Lease has been duly recorded. The Ground Lease permits the interest of Borrower to be encumbered by a mortgage. Except as described in the definition of “Ground Lease”, there There have not been amendments or modifications to the terms of the Ground Lease since its recordation, with the exception of written instruments which have been recorded. Assuming compliance by Lender with Section 15.2 of the Ground Lease, the The Ground Lease may not be canceled, terminated, surrendered or modified amended without the prior written consent of Lender.

Appears in 1 contract

Sources: Loan Agreement (Carter Validus Mission Critical REIT, Inc.)