Common use of Required Easements Clause in Contracts

Required Easements. The Required Easements have been or, prior to the Effective Date will be, obtained and are or, prior to the Effective Date will be, in full force and effect and constitute all easements, rights-of-way and licenses contemplated to be in place under the Construction Documents, the Project Contracts, the Agreement and the Lease as of the date of this Initial Advance. There has been no material breach under any such Required Easements, and there are no pending or, to the best of Agent's knowledge, threatened claims or proceedings relating thereto which, if adversely determined, could reasonably be expected to have a material adverse effect on (a) the construction, operation, maintenance, leasing, ownership, use, value or regulatory status of the Project, (b) the ability of Agent to observe and perform its obligations under the Operative Documents, or any of the Construction Documents or the Project Contracts in a timely manner or the ability of the Guarantor to perform its obligations under the Guaranty in a timely manner, or (c) the rights or interests of Owner or Assignee under the Operative Documents, the Guaranty, or any of the Construction Documents or the Project Contracts.

Required Easements. The Required Easements have been or, prior to the Effective Date will be, obtained and are or, prior to the Effective Date will be, in full force and effect and constitute all easements, rights-of-way and licenses contemplated to be in place under the Construction Documents, the Project Contracts, the this Agreement and the Lease as of the date of this the Initial Advance. There has been no material breach under any such Required Easements, and there are no pending or, to the best of Agent's knowledge, threatened claims or proceedings relating thereto which, if adversely determined, could reasonably be expected to have a material adverse effect on (ai) the construction, operation, maintenance, leasing, ownership, use, value or regulatory status of the Project, (bii) the ability of Agent to observe and perform its obligations under the Operative Documents, or any of the Construction Documents or the Project Contracts in a timely manner or the ability of the Guarantor to perform its obligations under the Guaranty in a timely manner, manner or (ciii) the rights or interests of Owner or Assignee under the Operative Documents, the Guaranty, or any of the Construction Documents or the Project Contracts.