Common use of Agreements of Lender Clause in Contracts

Agreements of Lender. Bank of America, N.A. a national banking association (“Lender”) made a loan to Landlord in the stated principal amount of up to $81,000,000 (the “Loan”), which is secured by, among other things, a Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated August 26, 2016 (which together with all increases, renewals, extensions and other amendments thereto, is hereinafter called the “Mortgage”) pursuant to which Landlord collaterally assigned its interest in the Lease to Lender as security for the Loan. In connection with the Loan, Landlord, Tenant and Lender entered into a Subordination, Non-Disturbance and Attornment Agreement Dated August 26, 2016 recorded in the real property records of Palm Beach County, Florida in Official Records Book 28552, at Page 332, of the Public Records of Palm Beach County, Florida (the “SNDA”). By it consent to this First Amendment, Lender hereby agrees as follows: (a) For purposes of the SNDA, whether or not a Foreclosure Event (as defined in the SNDA) has occurred, (i) the Lease shall not be deemed to be in default at any time the Leasehold Mortgagee is exercising its rights as Leasehold Mortgagee under Section 10.03 and Exhibit F of the Lease and (ii) Lender acknowledges and agrees to be bound by the rights of a Leasehold Mortgagee pursuant to Section 10.03 and Exhibit F of the Lease to a new Lease upon termination of the Lease. (b) If Lender or its designee succeeds to Landlord’s leasehold rights under the Ground Lease as a result of a Foreclosure Event, then, Lender or its designee, as applicable, shall be bound by the terms of Section 10.03 and Exhibit F of the Lease that are currently applicable to Landlord. (c) Lender will simultaneously with delivery to Tenant send to each Leasehold Mortgagee for which it has been provided an address for notices a copy of each notice given to Tenant under the SNDA. Lender acknowledges that Tenant has advised Lender that (i) contemporaneously herewith Deutsche Bank National Trust Company, as collateral agent (“Collateral Agent”), shall have a mortgage on Tenant’s leasehold interest under the Lease and shall be a Leasehold Mortgagee under the Lease and (ii) the address for notices to Collateral Agent is 100 Plaza One, 8th Floor, Jersey City, New Jersey 07311 Attention: Xxxxx Xxxxxxx.

Agreements of Lender. Bank of AmericaWxxxx Fargo Bank, N.A. a national banking association (“Lender”) made a loan to Landlord in the stated principal amount of up to $81,000,000 103,000,000 (the “Loan”), which is secured by, among other things, a Construction Leasehold Mortgage, Mortgage With Absolute Assignment of Leases and Rents, Security Agreement and Fixture Filing dated August 26September 2, 2016 (which together with all increases, renewals, extensions and other amendments thereto, is hereinafter called the “Mortgage”) pursuant to which Landlord collaterally assigned its interest in the Lease to Lender as security for the Loan. , In connection with the Loan, Landlord, Tenant and Lender entered into a SubordinationSubordination Agreement, Acknowledgment of Lease Assignment, Attornment and Non-Disturbance and Attornment Agreement Dated August 26dated September 2, 2016 recorded in the real property records of Palm Beach Miami-Dade County, Florida in Official Records OR Book 28552, 30219 at Page 332, of the Public Records of Palm Beach County, Florida 1722 (the “SNDA”). By it consent to this First Amendment, Lender hereby agrees as follows: (a) For purposes of the SNDA, whether or not a Foreclosure Event there is an event of foreclosure under the Security Instrument (as defined in the SNDA) has occurred, (i) solely for the benefit of the Leasehold Mortgagee, no event or circumstance that constitutes a default by the Tenant under the terms of the Lease shall not will be deemed to be in constitute a default at any time for purposes of Section 6 of the SNDA so long as the Leasehold Mortgagee is exercising its rights as Leasehold Mortgagee under Section 10.03 and Exhibit F E of the Lease and (ii) Lender acknowledges and agrees to be bound by the rights of a Leasehold Mortgagee pursuant to Section 10.03 and Exhibit F E of the Lease to a new Lease upon termination of the Lease. (b) If Lender or its designee succeeds to Landlord’s leasehold rights Following an event of foreclosure under the Ground Security Instrument, the successor to Landlord under the Lease as a result of a Foreclosure Event, then, Lender or its designee, as applicable, shall be bound by the terms rights of a Leasehold Mortgagee pursuant to Section 10.03 and Exhibit F E of the Lease that are currently applicable to LandlordLease. (c) Lender will simultaneously with delivery to Tenant send to each Leasehold Mortgagee for which it has been provided an address for notices a copy of each notice given to Tenant under the SNDA. Lender acknowledges that Tenant has advised Lender that (i) contemporaneously herewith Deutsche Bank National Trust Company, as collateral agent (“Collateral Agent”), shall have a mortgage on Tenant’s leasehold interest under the Lease and shall be a Leasehold Mortgagee under the Lease and (ii) the address for notices to Collateral Agent is 100 Plaza One, 8th Floor, Jersey City, New Jersey 07311 Attention: Xxxxx Dxxxx Xxxxxxx.

Agreements of Lender. Bank of AmericaTOTALBANK, N.A. a national Florida banking association corporation (“Lender”) made a loan to Landlord in the stated principal amount of up to $81,000,000 14,609,000 (the “Loan”), which is secured by, among other things, a Leasehold Mortgage, Assignment of Rents and Leases and Rents, Security Agreement and Fixture Filing dated August 264, 2016 (which together with all increases, renewals, extensions and other amendments thereto, is hereinafter called the “Mortgage”) pursuant to which Landlord collaterally assigned its interest in the Lease to Lender as security for the Loan. In connection with the Loan, Landlord, Tenant and Lender entered into a Subordination, Non-Disturbance and Attornment Agreement Dated dated August 264, 2016 recorded in the real property records of Palm Beach Broward County, Florida in Official Records Book 28552, at Page 332, of the Public Records of Palm Beach County, Florida under Instrument Number 113856023 (the “SNDA”). By it consent to this First Amendment, Lender hereby agrees as follows: (a) For purposes of the SNDA, whether or not a Foreclosure Event Transfer Date (as defined in the SNDA) has occurred, (i) the Lease shall not be deemed to be in default at any time the Leasehold Mortgagee is exercising its rights as Leasehold Mortgagee under Section 10.03 and Exhibit F of the Lease and (ii) subject to the terms of the SNDA, Lender acknowledges and agrees to be bound by the rights of a Leasehold Mortgagee pursuant to Section 10.03 and Exhibit F of the Lease to a new Lease upon termination of the Lease. (b) If Lender or its designee succeeds Following a Transfer Date, but subject to Landlord’s leasehold rights the terms of the SNDA, the successor to Landlord under the Ground Lease as a result of a Foreclosure Event, then, Lender or its designee, as applicable, shall be bound by the terms rights of a Leasehold Mortgagee pursuant to Section 10.03 and Exhibit F of the Lease that are currently applicable to LandlordLease. (c) Lender will simultaneously with delivery to Tenant send to each Leasehold Mortgagee for which it has been provided an address for notices a copy of each notice given to Tenant under the SNDA. Lender acknowledges that Tenant has advised Lender that (i) contemporaneously herewith Deutsche Bank National Trust Company, as collateral agent (“Collateral Agent”), shall have a mortgage on Tenant’s leasehold interest under the Lease and shall be a Leasehold Mortgagee under the Lease and (ii) the address for notices to Collateral Agent is 100 Plaza One, 8th Floor, Jersey City, New Jersey 07311 Attention: Xxxxx Xxxxxxx.