Common use of Consent to Mortgage Clause in Contracts

Consent to Mortgage. Tenant may from time to time without further consent of Landlord assign this Lease by way of mortgage to any bank, insurance company or other established lending institution as mortgagee, provided that Tenant shall upon execution of such mortgage promptly deliver a true copy thereof to Landlord. The mortgagee or its assigns may enforce such mortgage and acquire title to the leasehold estate in any lawful way, and pending foreclosure of such mortgage may take possession of and rent said premises, and upon foreclosure thereof may without further consent of Landlord sell and assign the leasehold estate by assignment in which the assignee shall expressly assume and agree to observe and perform all the covenants 144 of Tenant herein contained, and such assignee may make a purchase money mortgage of this Lease to the assignor, provided that upon execution of any such assignment or mortgage a true copy thereof shall be delivered promptly to Landlord and that no other or further assignment of this Lease for which any provision hereof requires the written consent of Landlord shall be made without such consent. The mortgagee or its assigns of such mortgage shall be liable to perform the obligations herein imposed on Tenant only during the period such person has possession or ownership of the leasehold estate. Nothing contained in such mortgage shall release or be deemed to relieve Tenant from the full and faithful observance and performance of Tenant's covenants herein contained or from any liability for the nonobservance or nonperformance thereof, nor be deemed to constitute a waiver of any rights of Landlord hereunder, and the terms, covenants and conditions of this Lease shall control in case of any conflict with the provisions of such mortgage.

Consent to Mortgage. Tenant Lessee may from time to time without further consent of Landlord Lessors assign this Lease lease by way of mortgage to any bank, insurance company or other established lending institution as mortgagee, provided that Tenant the amount secured by all such assignments by way of mortgage shall not exceed the fair market value of this lease and all buildings and other improvements built on the land hereby demised or to be built and paid for with the proceeds of such mortgage, and provided also that Lessee shall upon execution of such mortgage promptly deliver a true copy thereof to LandlordLessors. If Lessors shall believe that the amount secured by such mortgages exceeds said fair market value Lessee will, promptly on demand by Lessors and at its own expense, cause such value to be determined by one qualified real estate appraiser satisfactory to Lessors and, if the amount so secured shall exceed said value as determined by such appraiser, will promptly reduce the amount so secured to said value; provided, however, that if said value as determined by such appraiser shall be equal to or exceed the amount so secured, Lessors shall reimburse to Lessee its cost for such appraisal. The mortgagee or its assigns may enforce such mortgage and acquire title to the leasehold estate (or pending sale of this lease in any lawful way, and pending lieu of foreclosure of such mortgage mortgage) may take possession of and rent said premises, and upon foreclosure thereof (or upon such sale in lieu of foreclosure thereof) may without further consent of Landlord Lessors sell and assign the leasehold estate by assignment in which the assignee shall expressly assume and agree to observe and perform all the covenants 144 of Tenant Lessee herein contained, and such assignee may make a purchase money mortgage of this Lease lease to the assignor, provided that upon execution of any such assignment or mortgage a true copy thereof shall be delivered promptly to Landlord Lessors and that no other or further assignment of this Lease lease for which any provision hereof requires the written consent of Landlord Lessors shall be made without such consent. The mortgagee or its assigns of such mortgage shall be liable to perform the obligations herein imposed on Tenant Lessee only during the period such person has possession or ownership of the leasehold estate. Nothing contained in such mortgage shall release or be deemed to relieve Tenant Lessee from the full and faithful observance and performance of Tenant's its covenants herein contained or from any liability for the nonobservance or nonperformance nonperformace thereof, nor be deemed to constitute a waiver of any rights of Landlord Lessors hereunder, and the terms, covenants and conditions of this Lease lease shall control in case of any conflict with the provisions of such mortgage.

Consent to Mortgage. Tenant may from time to time without further consent of Landlord assign this Lease by way of mortgage to any bank, insurance company or other established lending institution as mortgagee, provided that Tenant shall upon execution of such mortgage promptly deliver a true copy thereof to Landlord. The mortgagee or its assigns may enforce such mortgage and acquire title to the leasehold estate in any lawful way, and pending foreclosure of such mortgage may take possession of and rent said premises, and upon foreclosure thereof may without further consent of Landlord sell and assign the leasehold estate by assignment in which the assignee shall expressly assume and agree to observe and perform all the covenants 144 of Tenant herein contained, and such assignee may make a purchase money mortgage of this Lease to the assignor, provided that upon execution of any such assignment or mortgage a true copy thereof shall be delivered promptly to Landlord and that no other or further assignment of this Lease for which any provision hereof requires the written consent of Landlord shall be made without such consent. The mortgagee or its assigns of such mortgage shall be liable to perform the obligations herein imposed on Tenant only during the period such person has possession or ownership of the leasehold estate. Nothing contained in such mortgage shall release or be deemed to relieve Tenant from the full and faithful observance and performance of Tenant's covenants herein contained or from any liability for the nonobservance or nonperformance thereof, nor be deemed to constitute a waiver of any rights of Landlord hereunder, and the terms, covenants and conditions of this Lease shall control in case of any conflict with the provisions of such mortgage.

Consent to Mortgage. Tenant Lessee may from time to time without further ------------------- consent of Landlord Lessor assign this Lease by way of mortgage to any bank, insurance company company, savings and loan, credit union, finance company, or other established lending institution as mortgagee, provided that Tenant the amount secured by all such assignments by way of mortgage shall not exceed the fair market value of this Lease and all buildings and other improvements built on the land hereby demised or to be built and paid for with the proceeds of such mortgage (said determination of fair market value to be made, with respect to each lease-hold mortgage, as of the date of recording such mortgage), and provided that Lessee shall upon execution of such mortgage promptly deliver a true copy thereof to LandlordLessor. The mortgagee or its assigns may enforce such mortgage and acquire title to the leasehold estate in any lawful way, and pending foreclosure of such mortgage (or pending sale of this Lease in lieu of foreclosure of such mortgage) may take possession of and rent said premises, and upon foreclosure thereof (or upon such conveyance in lieu of foreclosure thereof) may without further consent of Landlord Lessor sell and assign the leasehold estate by assignment in which the assignee shall expressly assume and agree to observe and perform all the covenants 144 of Tenant Lessee herein contained, contained and such assignee may make a purchase money mortgage of this Lease to the assignor, provided that upon execution of any such assignment or mortgage a true copy thereof shall be delivered promptly to Landlord Lessor and that no other or further assignment of this Lease for which any provision hereof requires the written consent of Landlord Lessor shall be made without such consent. Upon the delivery and recordation of the conveyance through foreclosure (or delivery and recordation of the conveyance in lieu of foreclosure) of the leasehold estate and/or the mortgagee's sale or assignment thereof, this Lease shall remain in full force and effect as a direct lease between Lessor and the mortgagee or such assignee. The mortgagee or its assigns of such mortgage shall be liable to perform the obligations herein imposed on Tenant Lessee only during the period such person has possession or ownership of the leasehold estate. Nothing contained in such mortgage shall release or be deemed to relieve Tenant Lessee from the full and faithful observance and performance of Tenant's its covenants herein contained or from any liability for the nonobservance or nonperformance thereof, nor be deemed to constitute a waiver of any rights of Landlord Lessor hereunder, and the terms, covenants and conditions of this Lease shall control in case of any conflict with the provisions of such mortgage, except as otherwise agreed by Lessor.