Term; Binding Effect; Covenants Running With The Land Sample Clauses

Term; Binding Effect; Covenants Running With The Land. Except as otherwise expressly stated in Paragraph 1.6(e) in the case of the dedication and acceptance of the Access Easement as a public right of way, the Access Easement, the Utility Easements, the Storm Drainage Easement, and the Sign Easement (together, the “Easements”) granted herein shall be permanent and perpetual and shall be considered covenants running with and appurtenant to the Grantee’s Property and the Grantor’s Property, and both the benefits and burdens thereof shall be binding upon and inure to the benefit of Grantor, Grantee, and their respective successors and assigns who become the owners of the tracts of land described herein or any portion thereof. The limitations on the use of the Easements provided for herein shall be binding upon any tenant, licensee, invitee or other person or entity from time to time entitled to the use and occupancy of, or access to, any portion of the Grantee’s Property. Subject to the condition expressly provided in Paragraph 4.2 with respect to the continued use of Grantee’s Property, the Restrictions imposed upon Grantor’s Property shall be permanent and perpetual and shall be considered covenants running with and a burden upon Grantor’s Property for the benefit of Grantee’s Property, and shall be binding upon and inure to the benefit of Grantor, Grantee, and their respective successors and assigns who become owners of the tracts of land described herein or any portion thereof.
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Related to Term; Binding Effect; Covenants Running With The Land

  • Covenants Running with the Land All Obligations contained in this Mortgage are intended by Mortgagor and Mortgagee to be, and shall be construed as, covenants running with the Land. As used herein, “Mortgagor” shall refer to the party named in the first paragraph of this Mortgage and to any subsequent owner of all or any portion of the Mortgaged Property. All Persons who may have or acquire an interest in the Mortgaged Property shall be deemed to have notice of, and be bound by, the terms of the Credit Agreement and the other Loan Documents; provided, however, that no such party shall be entitled to any rights thereunder without the prior written consent of Mortgagee.

  • Covenant Running with the Land The terms, conditions, rights, obligations, benefits, covenants and restrictions of the provisions of this Agreement shall be deemed covenants running with the land, and shall be binding upon and inure to the benefit of the Developer and its heirs, representatives, successors and assigns. This Agreement shall be deemed to be incorporated into each deed and conveyance of the Property or any portion thereof hereafter made by any other Developers of the Property, regardless of whether this Agreement is expressly referenced therein.

  • Covenants Run with the Land All of the grants, covenants, terms, provisions and conditions herein shall run with the Premises, shall be binding upon Borrower and shall inure to the benefit of Lender, subsequent holders of this Security Instrument and their successors and assigns. Without limitation to any provision hereof, the term “Borrower” shall include and refer to the borrower named herein, any subsequent owner of the Property, and its respective heirs, executors, legal representatives, successors and assigns. The representations, warranties and agreements contained in this Security Instrument and the other Loan Documents are intended solely for the benefit of the parties hereto, shall confer no rights hereunder, whether legal or equitable, in any other Person and no other Person shall be entitled to rely thereon.

  • Covenants to Run With the Land All of the grants, covenants, terms, provisions and conditions in this Mortgage shall run with the Land and shall apply to, and bind the successors and assigns of, the Mortgagor. If there shall be more than one mortgagor with respect to the Mortgaged Property, the covenants and warranties hereof shall be joint and several.

  • Additional Negative Covenants Not to, without the Bank’s written consent: (a) Enter into any consolidation, merger, or other combination, or become a partner in a partnership, a member of a joint venture, or a member of a limited liability company. (b) Acquire or purchase a business or its assets. (c) Engage in any business activities substantially different from the Borrower’s present business. (d) Liquidate or dissolve the Borrower’s business.