Amendments Requested by Mortgagee Clause Examples for Any Agreement

The "Amendments Requested by Mortgagee" clause defines the process by which a mortgagee (typically a lender) can request changes to an agreement, usually to ensure the contract aligns with their lending requirements. In practice, this clause may require the borrower or other parties to cooperate in making reasonable modifications, such as updating insurance provisions or adding lender protections, as a condition of financing. Its core function is to facilitate the mortgagee’s ability to secure their interests and ensure the agreement remains compatible with the terms of the loan, thereby reducing obstacles to funding and clarifying the parties’ obligations regarding amendments.
Amendments Requested by Mortgagee. If requested by any Mortgagee or prospective Mortgagee, Tenant agrees to execute and deliver any amendment of this Lease that is reasonably required by such Mortgagee or prospective Mortgagee; provided, that Tenant shall be under no obligation to amend this Lease if the result of such amendment would be to materially and adversely increase Tenant’s obligations or to materially and adversely affect Tenant’s rights under this Lease or to amend Article 5. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding.
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Amendments Requested by Mortgagee. A. If requested by any Mortgagee or prospective Mortgagee, Submanager agrees to execute and deliver any amendment of this Agreement that is reasonably required by such Mortgagee or prospective Mortgagee, provided that Submanager shall be under no obligation to amend this Agreement if the result of such amendment would be: (i) to reduce, defer or delay the amount of any payment to be made to Submanager hereunder; (ii) to materially and adversely increase Submanager's obligations or affect Submanager's rights under this Agreement; (iii) to change the Term of this Agreement; (iv) to cause the Hotel to be operated other than pursuant to the System Standards and other provisions hereof; or (v) to amend Section 5.02 or Section 5.03. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding. B. Notwithstanding the provisions of Section 8.06.A, if a Mortgagee or prospective Mortgagee requests that Submanager enter into an amendment of this Agreement which would impose additional duties (for example, an increase in the reporting requirements or in the record-keeping requirements, or adding the obligation to prepare parallel accounting statements using a different fiscal year) on Submanager, or would otherwise adversely affect Submanager's rights under this Agreement, but not to the degree of materiality which would be prohibited under Section 8.06.A, and with respect to which Submanager believes, in its good faith judgment, that it can be adequately compensated, Submanager hereby agrees that it will execute and deliver such requested amendment of this Agreement, provided that Primary Manager agrees to compensate Submanager for the additional burden imposed by such amendment. It is understood that the word "burden", as used in the preceding sentence, shall encompass not only additional work to be performed by Submanager, but also the adverse effect on the achievement of the Performance Termination Threshold which would be caused by requiring increased services to be provided to the Hotel by third parties and by paying from Gross Revenues any other expenses incurred by Submanager in meeting such additional obligations. Any dispute as to the additional compensation to which Submanager is entitled pursuant to this Section 8.06.B. shall be resolved by arbitration pursuant to Section 11.21.
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Amendments Requested by Mortgagee. 29 ARTICLE IX
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Amendments Requested by Mortgagee. If requested by any Mortgagee or prospective Mortgagee, Manager agrees to execute and deliver any amendment of this Agreement that is reasonably required by such Mortgagee or prospective Mortgagee, provided that Manager shall be under no obligation to amend this Agreement if the result of such amendment would be: (i) to reduce, defer or delay the amount of any payment to be made to Manager hereunder; (ii) to materially and adversely increase Manager’s obligations or affect Manager’s rights under this Agreement; (iii) to change the Term; or (iv) to cause the Hotel to be operated other than pursuant to the System Standards and other provisions hereof. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding.
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Amendments Requested by Mortgagee. PHB shall execute amendments to this Agreement or separate agreements to the extent reasonably requested by a Mortgagee proposing to make a loan to Developer secured by a security interest in all or any part of the Property or the Project, or by a Limited Partner making an investment in the Partnership provided that such proposed amendments or other agreements do not materially and adversely affect the rights of PHB or its interest in the Property.
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Amendments Requested by Mortgagee. PDC shall execute amendments to this Agreement or separate agreements to the extent reasonably requested by a Mortgagee proposing to make a loan to Developer secured by a security interest in all or any part of the Property and/or the Project, provided that such proposed amendments or other agreements do not materially and adversely affect the rights of PDC.
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Amendments Requested by Mortgagee. If requested by any Mortgagee or prospective Mortgagee, Manager agrees to execute and deliver any amendment of this Agreement and/or the Pooling Agreement that is reasonably required by such Mortgagee or prospective Mortgagee, provided that Manager shall be under no obligation to amend this Agreement or the Pooling Agreement if the result of such amendment would be: (i) to reduce, defer or delay the amount of any payment to be made to Manager hereunder or the Pooling Agreement; (ii) to materially and adversely increase Manager’s obligations or affect Manager’s rights under this Agreement or the Pooling Agreement; (iii) to change the Term; (iv) to cause the Hotel to be operated other than pursuant to the System Standards and other provisions hereof; or (v) to amend Section 5.02, Section 5.03 or Article VI. Any such amendment shall be in effect only for the period of time in which such Mortgage is outstanding.
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Amendments Requested by Mortgagee. 40 11.7 Ground Leases...........................................................................................41
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Related to Amendments Requested by Mortgagee

  • Amendments; Renewal Any amendments, consents to or waivers of the terms of this Contract must be in writing and signed by both parties. The parties may renew this Contract by their signed, written instrument.

  • Notice to Mortgagee Notwithstanding anything to the contrary in the Lease or this Agreement, before exercising any Termination Right or Offset Right, Tenant shall provide Mortgagee with notice of the breach or default by Landlord giving rise to same (the “Default Notice”) and, thereafter, the opportunity to cure such breach or default as provided for below.

  • Subordination to Mortgages; Estoppel Certificate Tenant accepts this Lease subject and subordinate to any mortgage(s), deed(s) of trust, ground lease(s) or other lien(s) now or subsequently arising upon the Premises, the Building or the Property, and to renewals, modifications, refinancings and extensions thereof (collectively referred to as a “Mortgage”). The party having the benefit of a Mortgage shall be referred to as a “Mortgagee”. This clause shall be self-operative, but upon request from a Mortgagee, Tenant shall execute a commercially reasonable subordination agreement in favor of the Mortgagee. As an alternative, a Mortgagee shall have the right at any time to subordinate its Mortgage to this Lease. Upon request, Tenant, without charge, shall attorn to any successor to Landlord’s interest in this Lease. Landlord and Tenant shall each, within 10 days after receipt of a written request from the other, execute and deliver a commercially reasonable estoppel certificate to those parties as are reasonably requested by the other (including a Mortgagee or prospective purchaser). Without limitation, such estoppel certificate may include a certification as to the status of this Lease, the existence of any defaults and the amount of Rent that is due and payable. Notwithstanding the foregoing, upon written request by Tenant, Landlord will use reasonable efforts to obtain a non-disturbance, subordination and attornment agreement from Landlord’s then current Mortgagee on such Mortgagee’s then current standard form of agreement. “Reasonable efforts” of Landlord shall not require Landlord to incur any cost, expense or liability to obtain such agreement, it being agreed that Tenant shall be responsible for any fee or review costs charged by the Mortgagee. Upon request of Landlord, Tenant will execute the Mortgagee’s form of non-disturbance, subordination and attornment agreement and return the same to Landlord for execution by the Mortgagee. Landlord’s failure to obtain a non-disturbance, subordination and attornment agreement for Tenant shall have no effect on the rights, obligations and liabilities of Landlord and Tenant or be considered to be a default by Landlord hereunder.

  • Alteration to terms of insurances No Borrower shall make or agree to any alteration to the terms of any obligatory insurance or waive any right relating to any obligatory insurance.

  • Amendments and Alterations You agree that the terms and conditions governing your account may be amended by us from time to time. We will notify you of amendments as required by applicable law. Your continued use of the account evidences your agreement to any amendments. Notices will be sent to the most recent address shown on the account records. Only one notice will be given in the case of joint account holders.