Common use of Foreclosure by Leasehold Mortgagee Clause in Contracts

Foreclosure by Leasehold Mortgagee. Anything in this Lease and specifically in this Article XI to the contrary notwithstanding, Lessor shall not be entitled to exercise its right to terminate this Lease as in this Article XIII provided during the period that any Leasehold Mortgagee shall require to foreclose its mortgage or otherwise to fulfill or complete its remedies under such leasehold mortgage or to cure any Event of Default, provided, however, that such period shall in no event exceed ninety (90) days and that within such period of time: (a) such Leasehold Mortgagee proceeds promptly and with due diligence with its remedies under its mortgage on the leasehold estate and thereafter prosecutes the same with all due diligence; and (b) there is timely paid to Lessor the rent, additional rent and other sums which have, or may, become due and payable during said period of time and as the same become due and payable, and all other terms and provisions of this Lease are duly complied with.

Foreclosure by Leasehold Mortgagee. Anything in this Lease and specifically in this Article XI XIII to the contrary notwithstanding, Lessor shall not be entitled to exercise its right to terminate this Lease as in this Article XIII provided during the period that any Leasehold Mortgagee shall require to foreclose its mortgage or otherwise to fulfill or complete its remedies under such leasehold mortgage or to cure any Event of Default, provided, however, that such period shall in no event exceed ninety (90) days and that within such period of time: (a) such Leasehold Mortgagee proceeds promptly and with due diligence with its remedies under its mortgage on the leasehold estate and thereafter prosecutes the same with all due diligence; and (b) there is timely paid to Lessor the rent, additional rent and other sums which have, or may, become due and payable during said period of time and as the same become due and payable, and all other terms and provisions of this Lease are duly complied with.