Common use of Attornment and Subordination Clause in Contracts

Attornment and Subordination. (A) In the event any proceedings are brought for the foreclosure of, or in the event of the conveyance by deed in lieu of foreclosure of, or in the event of exercise of the power of sale under, any mortgage made by Lessor covering the Premises, or in the event Lessor sells, conveys or otherwise transfers its interest in the Facility or any portion thereof containing the Premises, this Lease shall remain in full force and effect and Lessee hereby attorns to and covenants and agrees to execute an instrument in writing reasonable satisfactory to the new owner whereby Lessee attorns to such successor in interest and recognizes such successor as the Lessor under this Lease. Payment by or performance of this Lease by any person, firm or corporation claiming an interest in this Lease or the Premises by, through or under Lessee without Lessor’s consent in writing shall not constitute an attornment or create any interest in this Lease or the Premises. The new owner (including any lender) may, at its option, accept or reject such attornment.

Attornment and Subordination. (A) In the event any proceedings are brought for the foreclosure of, or in the event of the conveyance by deed in lieu of foreclosure of, or in the event of exercise of the power of sale under, any mortgage made by Lessor covering the Premises, or in the event Lessor sells, conveys or otherwise transfers its interest in the Facility or any portion thereof containing the Premises, this Lease shall remain in full force and effect and Lessee hereby attorns to and covenants and agrees to execute an instrument in writing reasonable satisfactory to the new owner whereby Lessee Xxxxxx attorns to such successor in interest and recognizes such successor as the Lessor under this Lease. Payment by or performance of this Lease by any person, firm or corporation claiming an interest in this Lease or the Premises by, through or under Lessee without Lessor’s consent in writing shall not constitute an attornment or create any interest in this Lease or the Premises. The new owner (including any lender) may, at its option, accept or reject such attornment.