Fee Mortgages. As of the Lease Commencement, the Premises will be encumbered with a fee mortgage as more particularly described on the Schedule of Permitted Encumbrances attached hereto as Exhibit B (as the same may be hereafter amended, modified, renewed, extended, consolidated or replaced, hereinafter referred to as the "Initial Fee Mortgage"). The Initial Fee Mortgage and any other mortgage or other security device permitted hereunder which encumbers all or any part of the Landlord's interest in the Premises is herein called a "Fee Mortgage" and the holder of any such mortgage or other security device is herein called a "Fee Mortgagee".
Fee Mortgages. Landlord shall have the right to mortgage its fee interest in the Premises during the Term hereof, provided that a foreclosure of any such mortgage shall not affect this Lease or the rights of Tenant, any subtenant or any other party deriving its interest through Tenant.
Fee Mortgages. Xxxxxxxx shall have the right during the Term to execute a Mortgage encumbering Landlord’s fee interest in and to the Leased Premises (subject to the Leasehold Estate and any New Lease required by a Leasehold Mortgagee), and Landlord’s interest in this Lease and may at any time or from time to time make assignments of the Rent payable hereunder or otherwise grant security interests or liens upon such Rent; provided, however, Landlord covenants and agrees that contemporaneously with, and as a pre-condition to, granting any Mortgage against or with respect to its interest in the Leased Premises, Landlord shall cause such lender to enter into a recordable non-disturbance agreement containing non-disturbance provisions reasonably acceptable to Tenant and any then existing Leasehold Mortgagee and such lender protecting Tenant’s rights under this Lease. Xxxxxx’s interests provided herein shall be subordinate to Landlord’s fee interest in and to the Leased Premises.
Fee Mortgages. This Lease shall be made subject and subordinate to the lien of any and all mortgages (which term “mortgages” shall include deeds of trust and similar security instruments and any renewals, extensions, modifications, recastings or refinancings of any such mortgage or other instrument) which may now or hereafter encumber or otherwise affect Landlord’s interest in the Demised Premises and/or Improvements provided that such mortgage expressly provides that so long as Tenant has not committed an Event of Default hereunder which remains uncured beyond any applicable cure period, the rights and interests of the mortgagee thereunder are subject to the rights and interests of Tenant hereunder and any Leasehold Mortgagee under any Leasehold Mortgage then or thereafter existing. Notwithstanding the foregoing, upon written request by Landlord, Tenant shall execute and deliver an agreement in form satisfactory to Landlord (and reasonably satisfactory to Tenant), subordinating this Lease to any mortgage encumbering the Demised Premises and/or Improvements, provided, however, such subordination shall be upon the express condition that the validity of this Lease shall be recognized by such mortgagee, and that, notwithstanding any default by Landlord with respect to the mortgage, or any foreclosure or termination thereof, Tenant’s possession of the Demised Premises and/or Improvements and rights under this Lease and Tenant’s right to possession hereunder shall have been terminated in accordance with the provisions of this Lease. In the event the mortgagee under any such mortgage shall require this Lease to be superior and paramount to such mortgage, Tenant agrees to execute, acknowledge and deliver, as directed by Landlord, any instruments required for such purpose. Tenant agrees that, if any proceedings are brought for the foreclosure of any such mortgage, Tenant, if requested to do so by the purchaser at the foreclosure sale, shall recognize the purchaser as Landlord under this Lease and shall make all payments required hereunder to such new Landlord in the manner provided for in this Lease and subject to the terms of this Lease. Tenant waives the provisions of any law or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise adversely affect this Lease and the obligations of Tenant hereunder in the event that any such foreclosure or other proceeding is prosecuted or completed. Tenant agrees to give any of La...
Fee Mortgages. Any Fee Mortgage shall be subject and subordinate to, and shall not attach to: (1) this Lease and the Leasehold Estate (whether held by Lessee, a Successor Lessee, or a New Lessee); (2) any New Lease and the Leasehold Estate thereunder; (3) any judgment arising from the County's breach of this Lease; (4) any estate (including a subleasehold and a leasehold mortgagee estate) directly or indirectly arising from this Lease or any New Lease or the Leasehold Estate under either (so long as this Lease or such New Lease has not been terminated in accordance with its terms and in compliance with all rights of Leasehold Mortgages); (5) Lessee's or New Lessee's and any Leasehold Mortgagee's rights and remedies under this Lease; and (6) any rights of a Leasehold Mortgagee with respect to the Leasehold Estate. Any Fee Mortgagee, and in the event of a foreclosure of a Fee Mortgage or delivery of a deed in lieu of such foreclosure, the Fee Mortgagee or grantee or successful bidder at the foreclosure sale, shall succeed only to the Fee Estate, subject to items "1" through "6" .
Fee Mortgages. This Lease, including all amendments, renewals and extensions thereto or thereof, and the Leasehold Estate shall be prior and superior to all Fee Mortgages (including all extensions, renewals, replacements, modifications and consolidations thereof, and to all advances thereunder) and the rights of all Fee Mortgagees. Tenant shall not be obligated to provide any documentation to a Fee Mortgagee which in any way prejudices Tenant's rights under this Lease in Tenant's sole but commercially reasonably exercised discretion. Any inconsistency between any Fee Mortgage and this Lease shall be resolved in favor of this Lease.
Fee Mortgages. (a) Westboy covenants with Manager to enforce (and not amend) the provisions of Section 32.1 of the Percentage Lease (relating to mortgaging of the fee estate in the Hotels), for the benefit of Manager. Manager shall have the right to exercise Westboy's approval rights under Section 32.1 of the Percentage Lease (and Westboy covenants not to exercise such approval rights without obtaining Manager's prior written consent). Any mortgage approved thereunder shall constitute an "Approved Mortgage" and shall be subject to the provisions of Section 3.2(e). Section 32.1 of the Percentage Lease is attached as Exhibit C hereto.
Fee Mortgages. The Fee Mortgages encumbering the Leemilt's Lessor's interest in the Fee Estate are as set forth on Exhibit I, and Fee Mortgages encumbering the Power Test Lessor's interest in the Fee Estate are as set forth on Exhibit M.
Fee Mortgages. This Lease shall be subject and subordinate to each mortgage for security purposes which is a lien, which may now or hereafter affect the Premises and to all, renewals, modifications consolidations and replacements and extensions thereof provided however, that the mortgagee or grantee of such conveyance for security purposes, shall agree that it and its successors and assignes will, if at such time the Tenant is not in defaut under this Lease and attorns to such person, recognize this Lease if the interest of the Landlord in the Premises shall be ended by reason of forclosure proceedings or otherwise. This clause and section shall be self-operative and no further instrument of subordination shall be required by any mortgagee, beneficiary of such deed of trust or grantee of such conveyance for security purposes. The Tenant agrees that the recording of such mortgage or mortgages shall have preference and precedence and be superior and prior to the interest created by this Lease irrespective of the date of recording and the Tenant agrees to execute any such instrument without cost, which may be deemed necessary or desirable to further effect the subordination of this Lease to any such mortgage or mortgages, and a refusal to execute such instruments shall entitle the Landlord, their heirs, successors, assigns and legal representatives to the option of canceling this Lease without incurring any expense or damage, and the term hereby granted is expressly limited accordingly. The Tenant shall in conformation with the subordination provided for in the preceding section, execute and deliver promptly any certificate or instrument in conforminty with the provisions hereof which the Landlord may at any time request in connection herewith. The Tenant hereby irrecovably constitutes and appoints the Landlord as its attorney-in-fact to execute any such certificates for and on behalf of the Tenant.
Fee Mortgages. Landlord may mortgage its fee interest in the Premises subject to the provisions of Section 13.10 of this Lease.
