Common use of Attornment to Mortgagee Clause in Contracts

Attornment to Mortgagee. Tenant confirms that if by reason of a default under any Underlying Mortgage the holder of such Underlying Mortgage or its successor or assignee in interest becomes the Landlord hereunder, Tenant shall attorn to, and shall recognize such holder as Tenant's Landlord under this Lease. Tenant shall execute and deliver, at any time and from time to time, upon request of Landlord or of the holder of any Underlying Mortgage, an instrument which may be reasonably necessary or appropriate to evidence such attornment. Tenant waives the provisions of any statute or rule of law now or hereafter in effect which may give or purpose to give Tenant any right or election to terminate this Lease or to surrender possession of the Premises in the event any proceeding is brought by the holder of the Underlying Mortgage to acquire Landlord's interest hereunder.

Appears in 4 contracts

Samples: Lease (GTC Telecom Corp), Lease Agreement (GTC Telecom Corp), Lease (GTC Telecom Corp)

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Attornment to Mortgagee. Tenant confirms that if by reason of a default under any Underlying Mortgage the holder of such Underlying Mortgage or its successor successors or assignee in interest becomes the Landlord hereunder, Tenant shall attorn to, and shall recognize such holder as Tenant's Landlord under this Lease. Tenant shall execute and deliver, at any time and from form time to time, upon request of Landlord or of the holder of any Underlying Mortgage, an instrument which may be reasonably necessary or appropriate to evidence such attornment. Tenant waives the provisions provision of any statute or rule of law now or hereafter in effect which may give or purpose to give Tenant any right or election to terminate this Lease or to surrender possession of the Premises premises in the event any proceeding is brought by the holder of the Underlying Mortgage to acquire Landlord's interest hereunder.

Appears in 1 contract

Samples: Lease (Genesis Media Group Inc /De/)

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