Common use of Attornment, Etc Clause in Contracts

Attornment, Etc. to Mortgagee ----------------------------- (a) In the event of a termination of any ground or underlying lease, or if the interests of Landlord under this Lease are transferred by reason of, or assigned in lieu of, foreclosure or other proceedings for enforcement of any mortgage, or if the holder of any mortgage acquires a lease in substitution therefor, then Tenant, under this Lease, will, at the option, to be exercised in writing, of the Landlord under such ground or underlying lease or such mortgagee or purchaser, assignee or lessee, as the case may be, either (1) attorn to it and perform for its benefits all the terms, covenants and conditions of this Lease on Tenant's part to be performed with the same force and effect as if such lessor, mortgagee, purchaser, assignee or lessee were the landlord originally named in this Lease, or (2) enter into a new lease with said lessor, mortgagee, purchaser, assignee or lessee, as landlord, for the remaining Term of this Lease and otherwise on the same terms and conditions and with the same options, if any, then remaining. (b) The provisions of subsection 24.2 (a) shall inure to the benefit of such lessor, mortgagee, purchaser, assignee or lessee, and shall be self-operative upon the exercise of such option; and no further instrument shall be required to give effect to said provisions. Tenant, however, upon demand of any such lessor, mortgagee, purchaser, assignee or (a) satisfactory to any such lessor, mortgagee, purchaser, assignee or lessee, acknowledging such attornment and setting forth the terms and conditions of its tenancy.

Attornment, Etc. to Mortgagee ----------------------------- (a) In the event of a termination of any ground or underlying lease, or if the interests of Landlord under this Lease are transferred by reason of, or assigned in lieu of, foreclosure or other proceedings for enforcement of any mortgage, or if the holder of any mortgage acquires a lease in substitution therefor, then Tenant, under this Lease, will, at the option, to be exercised in writing, of the Landlord under such ground or underlying lease or such mortgagee or purchaser, assignee or lessee, as the case may be, either (1) attorn to it and perform for its benefits all the terms, covenants and conditions of this Lease on Tenant's part to be performed with the same force and effect as if such lessor, mortgagee, purchaser, assignee or lessee were the landlord originally named in this Lease, or (2) enter into a new lease with said lessor, mortgagee, purchaser, assignee or lessee, as landlord, for the remaining Term of this Lease and otherwise on the same terms and conditions and with the same options, if any, then remaining., (b) The provisions of subsection 24.2 (a) shall inure to the benefit of such lessor, mortgagee, purchaser, assignee or lessee, and shall be self-operative upon the exercise of such option; and no further instrument shall be required to give effect to said provisions. Tenant, however, upon demand of any such lessor, mortgagee, purchaser, assignee or (a) satisfactory to any such lessor, mortgagee, purchaser, assignee or lessee, acknowledging such attornment and setting forth the terms and conditions of its tenancy.