Execution of Leasehold Mortgages Sample Clauses

Execution of Leasehold Mortgages. Tenant shall have the right, from time to time, without obtaining Landlord’s consent but with prior Notice to Landlord and subject to Section 5.4 hereof, to execute one or more Leasehold Mortgages. Any Leasehold Mortgage shall be subordinate to Landlord’s Fee Estate.
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Execution of Leasehold Mortgages. Lessee shall have the right, from time to time, without obtaining Lessor’s consent, to execute and deliver one or more Leasehold Mortgages encumbering Lessee’s interest in this Lease to one or more Qualified Lenders, the Premises and the Improvements in order to secure any indebtedness or other obligation of Lessee relating to this Lease or Lessee’s interest in the Premises (including, without limitation, interim, permanent, construction or capital improvements financing) and any direct or indirect owner of Lessee shall have the right, from time to time, without obtaining Lessor’s consent, to execute and deliver one or more pledges of direct and/or indirect ownership interests in Lessee to one or more Qualified Lenders in order to secure any indebtedness or other obligation of Lessee’s direct and/or indirect owners (including, without limitation, interim, permanent, construction or capital improvements financing). Any Leasehold Mortgage shall be subordinate to Lessor’s interest in the Premises and shall be subject to the provisions of this Lease, and no Leasehold Mortgage shall extend to or affect Lessor’s fee interest in the Premises or the reversionary interest and estate of Lessor in and to the Premises or any part thereof. The execution and delivery of a Leasehold Mortgage by Lessee shall not be deemed to constitute an Assignment or other transfer of this Lease or an interest in Lessee nor shall the holder of any Leasehold Mortgage, as such, be deemed an assignee or transferee of this Lease so as to require such Leasehold Mortgagee to assume the performance of any of the terms, provisions, covenants or conditions on the part of Lessee to be performed hereunder, unless such Leasehold Mortgagee obtains actual possession of the Premises following a Leasehold Foreclosure or by agreement of Lessee and Leasehold Mortgagee. Lessor acknowledges and agrees that any collateral assignment and/or pledge to a Leasehold Mortgagee that is a Qualified Lender for financing purposes is a Permitted Transfer pursuant to Section 22.2 herein.
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Execution of Leasehold Mortgages. On or before December 31, --------------------------------- 1998 and in accordance with Section 9.12, the Borrower shall cause Leasehold Mortgages, substantially in the form of Exhibit G to be executed for each of the four leases of real property at 28th Street, New York, New York, as more fully described on Schedule 9.13."
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Related to Execution of Leasehold Mortgages

  • Execution of Lease This Lease may be executed in counterparts and, when all counterpart documents are executed, the counterparts shall constitute a single binding instrument. Landlord's delivery of this Lease to Tenant shall not be deemed to be an offer to lease and shall not be binding upon either party until executed and delivered by both parties.

  • Subordination of Lease This Agreement and Tenant's interest hereunder are and shall be subordinate, junior and inferior to any and all mortgages, liens or encumbrances now or hereafter placed on the Premises by Landlord, all advances made under any such mortgages, liens or encumbrances (including, but not limited to, future advances), the interest payable on such mortgages, liens or encumbrances and any and all renewals, extensions or modifications of such mortgages, liens or encumbrances.

  • Modification of Lease Should any current or prospective mortgagee or ground lessor for the Building or Project require a modification of this Lease, which modification will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the rights and obligations of Tenant hereunder, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute whatever documents are reasonably required therefor and to deliver the same to Landlord within ten (10) business days following a request therefor. At the request of Landlord or any mortgagee or ground lessor, Tenant agrees to execute a short form of Lease and deliver the same to Landlord within ten (10) business days following the request therefor.

  • Assignment of Leases and Rents There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.

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