Financing; Rights of Mortgagees Sample Clauses

Financing; Rights of Mortgagees. Section 18 of the DDA is hereby deleted in its entirety and replaced with the language set forth in Exhibit 1 to this Sixth Amendment.
Sample 1Sample 2
AutoNDA by SimpleDocs
Financing; Rights of Mortgagees. Developer, under section 20.1 of the DDA, shall have the right to grant to a Mortgagee a Mortgage encumbering all or a portion of its interests in the Project and/or the Project Site as security for one or more loans related to the Project, the Project Site, HPS Phase 1 and/or the real property comprising HPS Phase 1, the proceeds from which are used to pay or reimburse costs incurred in connection with the Project, the Project Site, HPS Phase 1 and/or the real property comprising HPS Phase 1. To clarify the intent of the Parties with respect to Mortgages and to allow for the cross-collateralization described above, Article 20 of the DDA is hereby deleted in its entirety and replaced with the language set forth in Exhibit 1 to this First Amendment.
Sample 1
Financing; Rights of Mortgagees. 19 10.1. Developer’s Right to Mortgage 19 10.2. Mortgagee Not Obligated to Construct 19 10.3. Copy of Notice of Default and Notice of Failure to Cure to Mortgagee 20 10.4. Mortgagee’s Option to Cure Defaults 20 10.5. Mortgagee’s Obligations with Respect to the Property 20 10.6. No Impairment of Mortgage 20 10.7. Cured Defaults 20 11. AMENDMENT; TERMINATION; EXTENSION OF TERM 21 11.1. Amendment or Termination 21 11.2. Early Termination Rights 21 11.3. Termination and Vesting 21 11.4. Amendment Exemptions 21 11.5. Extension Due to Legal Action or Referendum; Excusable Delay 22
Sample 1
Financing; Rights of Mortgagees. [AFFILIATES OF DEVELOPER AND, WITH THE APPROVAL OF THE AGENCY AND DEVELOPER, QUALIFIED BUYERS AND COMMUNITY BUILDERS, SHALL HAVE THE RIGHT FOR A MORTGAGE TO SECURE LOANS RELATED TO ANY PROJECT IN PHASE 1 OR PHASE 2/CANDLESTICK]
Sample 1
Financing; Rights of Mortgagees 
Sample 1Sample 2Sample 3

Related to Financing; Rights of Mortgagees

  • Rights of Mortgagee This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, or the Complex, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

  • Condition of Mortgaged Property Except as Borrower may have disclosed to Lender in writing in connection with the issuance of the Commitment Letter, the Mortgaged Property has not been damaged by fire, water, wind or other cause of loss, or any previous damage to the Mortgaged Property has been fully restored.

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