Common use of APPROVAL OF MORTGAGEE Clause in Contracts

APPROVAL OF MORTGAGEE. If at the time this Lease is executed, the Project is encumbered by a mortgage or deed of trust, this Lease is subject to the approval of the mortgagee or beneficiary of the trust deed and Tenant agrees to make such modifications to this Lease as are requested by said mortgagee or beneficiary provided such modifications do not alter the Rent or otherwise adversely affect Tenant in a material way.