Common use of ATTORNMENT TO LENDER OR THIRD PARTY Clause in Contracts

ATTORNMENT TO LENDER OR THIRD PARTY. In the event the interest of Landlord in the Complex is encumbered by mortgage or deed of trust, and such interest is acquired by the lender or any third party through judicial foreclosure, non-judicial foreclosure, or conveyance in lieu thereof, Tenant hereby agrees to attorn to such purchaser or transferee and to recognize such purchaser or transferee as the landlord under this Lease. In the event the lien of the deed of trust securing the loan from a lender to Landlord is prior and paramount to the Lease, this Lease shall nonetheless continue in full force and effect for the remainder of the unexpired term hereof, at the same rental herein reserved and upon all the other terms, conditions and covenants herein contained.

Appears in 2 contracts

Samples: Lease Agreement (Sierra Monitor Corp /Ca/), Lease Agreement (Technoconcepts, Inc.)

AutoNDA by SimpleDocs

ATTORNMENT TO LENDER OR THIRD PARTY. In the event the interest of Landlord in the Premises and/or Complex is encumbered by mortgage or deed of trust, and such interest is acquired by the lender Lender or any third party through judicial foreclosure, non-judicial foreclosure, foreclosure or conveyance in lieu thereofby exercise of a power of sale at private trustee's foreclosure sale, Tenant hereby agrees to attorn to the purchaser at any such purchaser judicial foreclosure or transferee foreclosure sale and to recognize such purchaser or transferee as the landlord Landlord under this Lease. In the event the lien of the deed of trust securing the loan from a lender Lender to Landlord is prior and paramount to the this Lease, this Lease shall nonetheless continue in full force and effect for the remainder of the unexpired term hereofTerm, at the same rental Rental herein reserved and upon all the other terms, conditions and covenants herein contained.

Appears in 2 contracts

Samples: Lease Agreement (Alza Corp), Lease Agreement (Alza Corp)

ATTORNMENT TO LENDER OR THIRD PARTY. In the event the interest of Landlord in the Complex is encumbered by mortgage or deed of trust, and such interest is acquired by the lender or any third party through judicial foreclosure, non-judicial foreclosure, or conveyance in lieu thereof, Tenant hereby agrees to attorn to such purchaser or transferee and to recognize such purchaser or transferee as the landlord under this Lease, subject to and on the conditions set forth in Section 22 above. In the event the lien of the deed of trust securing the loan from a lender to Landlord is prior and paramount to the Lease, this Lease Leases shall nonetheless continue in full force and effect for the remainder of the unexpired term hereof, at the same rental herein reserved and upon all the other terms, conditions and covenants herein contained.

Appears in 1 contract

Samples: Lease Agreement (Logic Devices Inc)

AutoNDA by SimpleDocs

ATTORNMENT TO LENDER OR THIRD PARTY. In the event the interest of Landlord in the Complex is encumbered by mortgage or deed of trust, and such interest is acquired by the lender or any third party through judicial foreclosure, non-judicial foreclosure, or conveyance in lieu thereof, Tenant hereby agrees to attorn to such purchaser or transferee and to recognize such purchaser or transferee as the landlord under this Lease. In the event the lien of the deed of trust securing the loan from a lender to Landlord is prior and paramount to the Lease, this Lease shall nonetheless continue in full force and effect for the remainder of the unexpired term hereof, at all the same rental herein reserved and upon all the other terms, conditions and covenants herein contained.

Appears in 1 contract

Samples: Lease Agreement (3dfx Interactive Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!