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200806504
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Last modified
12/2/2008 9:31:11 AM
Creation date
7/29/2008 4:34:54 PM
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DEEDS
Inst Number
200806504
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<br />200806504 <br /> <br />Processing Assets shall be performed in a manner that does not unreasonably and materially <br />impair or interfere with SemMaterials' continuing right to access and use the Retained <br />Processing Assets or to operate its business therewith. Upon any such relocation, the new <br />locations of the Retained Processing Assets shall thereafter be the Retained Processing Asset <br />Locations. <br /> <br />SemMaterials shall keep the Leasehold Tract free of all liens and claims of third parties <br />that may arise as a result of SemMaterials' use of the Leasehold Tract or its rights granted <br />hereunder. <br /> <br />SMEP and SemMaterials acknowledge and agree that this Agreement is subject and <br />subordinate to the terms and conditions of the Ground Lease. The term of this Agreement shall <br />commence upon the parties execution hereof and expire upon expiration or earlier termination of <br />the Ground Lease. Neither SMEP nor SemMaterials shall commit or suffer an act or omission <br />that will violate any of the provisions of the Ground Lease. Subject to the Terminal Access and <br />Use Agreement, SMEP will pay all rent or other charges due under the Ground Lease on or <br />before the due dates thereunder. If the Ground Lease terminates, this Agreement shall terminate <br />and the parties shall be relieved of any further liability or obligation under this Agreement; <br />provided, however, that if such termination of the Ground Lease is the result of a default or <br />breach by SMEP or SemMaterials of the Ground Lease, such breaching or defaulting party shall <br />be liable to the other for the damages suffered as a result of such termination. <br /> <br />NOTWITHSTANDING ANY OTHER PROVISION IN THIS AGREEMENT TO THE <br />CONTRARY, THIS AGREEMENT SHALL BE OF NO FORCE OR EFFECT UNLESS AND <br />UNTIL CONSENTED TO BY THE LESSOR UNDER THE GROUND LEASE IF SUCH <br />CONSENT IS REQUIRED UNDER THE TERMS OF THE GROUND LEASE. <br /> <br />The terms and provisions of this Agreement shall be binding upon and inure to the <br />benefit of the parties hereto and their respective successors and permitted assigns. SemMaterials <br />may not assign this Agreement or enter into any sublease except in conjunction with the transfer <br />of ownership or control of the Retained Processing Assets by SemMaterials and then only with <br />the prior written consent of SMEP, which shall not be unreasonably withheld; provided that any <br />proposed assignment will be subject to SMEP's right of first refusal the terms of which are <br />referred to in the Terminal Access and Use Agreement. SMEP hereby warrants that SMEP is <br />entitled to execute this Agreement, is the sole ground lessee of the Leasehold Tract and that the <br />Ground Lease is in full force and effect as of the date hereof, subject to easements and <br />restrictions of record, to all current uses of the Leasehold Tract by or through SMEP and to the <br />Ground Lease. SemMaterials shall have the right to mortgage SemMaterials' interest in this <br />Agreement subject to any restrictions under the Ground Lease. <br /> <br />This Agreement may be executed in several counterparts, each of which may be deemed <br />an original, and all of such counterparts together shall constitute one and the same agreement. <br /> <br />This Agreement may be recorded by SemMaterials unless or except to the extent <br />prohibited under the terms of the Ground Lease. <br /> <br />815975.1 :731256:01918 <br /> <br />3 <br />
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