Common use of Landlord May Grant Liens Clause in Contracts

Landlord May Grant Liens. Without the consent of Tenant, Landlord may, subject to the terms and conditions set forth below in this Section 33.1, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrance or title retention agreement (“Encumbrance”) upon the Leased Property, or any portion thereof or interest therein, whether to secure any borrowing or other means of financing or refinancing. Any such Encumbrance shall (a) contain the right to prepay (whether or not subject to a prepayment penalty); and (b) contain the Agreement by the holder of the Encumbrance that it will (1) give Tenant the same notice, if any, given to Landlord of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure under such Encumbrance, (2) permit Tenant to cure any such default on Landlord’s behalf within any applicable cure period, and Tenant shall be reimbursed by Landlord for any and all costs incurred in effecting such cure, including without limitation out-of-pocket costs incurred to effect any such cure (including reasonable attorneys’ fees) and (3) permit Tenant to appear by its representative and to bid at any sale in foreclosure made with respect to any such Encumbrance. Upon the request of Landlord, Tenant shall subordinate this Lease to the lien of a new mortgage on the Leased Property, on the condition that (a) the proposed mortgagee executes a non-disturbance agreement recognizing this Lease, subject to the provisions of Section 33.3, and agreeing, for itself and its successors and assigns, to comply with the provisions of this Section 33 and (b) such lien is subject to the rights of the Tenant under this Lease.

Landlord May Grant Liens. Without the consent of Tenant, Landlord ------------------------ may, subject to the terms and conditions set forth below in this Section 33.134.1, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrance or title retention agreement (“"Encumbrance”") upon the Leased Property, or any portion thereof or interest therein, whether to secure any borrowing or other means of financing or refinancing. Any such Encumbrance shall (a) contain the right to prepay (whether or not subject to a prepayment penalty); and (b) provide that it is subject to the rights of Tenant under this Lease, (c) contain the Agreement agreement by the holder of the Encumbrance that it will (1) give Tenant the same notice, if any, given to Landlord of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure under such Encumbrance, (2) permit Tenant to cure any such default on Landlord’s 's behalf within any applicable cure period, and Tenant shall be reimbursed by Landlord for any and all costs incurred in effecting such cure, including without limitation out-of-pocket costs incurred to effect any such cure (including reasonable attorneys’ ' fees) and (3) permit Tenant to appear by its representative and to bid at any sale in foreclosure made with respect to any such Encumbrance. Upon the request of Landlord, Tenant shall subordinate this Lease to the lien of a new mortgage on the Leased Property, on the condition that (a) the proposed mortgagee executes a non-disturbance agreement recognizing this Lease, subject to the provisions of Section 33.3, and agreeing, for itself and its successors and assigns, to comply with the provisions of this Section 33 and (b) such lien is subject to the rights of the Tenant under this LeaseArticle XXXIV.

Landlord May Grant Liens. Without the consent of Tenant, Landlord may, subject to the terms and conditions set forth below in this Section 33.135.1, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrance or title retention agreement (“"Encumbrance”") upon the Leased Property, or any portion thereof or interest therein, whether to secure any borrowing or other means of financing or refinancing. Any such Encumbrance shall (a) contain the right to prepay (whether or not subject to a prepayment penalty); ) and (b) contain the Agreement by the holder of the Encumbrance shall provide that it will is subject to the rights of Tenant under this Lease, including the rights of Tenant to acquire the Leased Property pursuant to the applicable provisions of this Lease, except that Tenant's right of first refusal to purchase the Leased Property shall not be applicable upon a foreclosure sale or transfer in lieu thereof; provided, however, that any such purchaser or transferee shall take title subject to Tenant's rights to acquire the Leased Property. Any lender which takes an interest in the Leased Property pursuant to this Article (1a) shall agree to give Tenant the same notice, if any, given to Landlord of any default or acceleration of any obligation underlying any such Encumbrance mortgage or any sale in foreclosure under such Encumbrancemortgage, (2b) shall agree to permit Tenant to cure any such default on Landlord’s 's behalf within any applicable cure period, and Tenant shall be reimbursed by Landlord for any and all costs incurred in effecting such cure, including without limitation out-of-pocket costs incurred to effect any such cure (including reasonable attorneys’ ' fees) ), and (3c) shall agree to permit Tenant to appear by its representative and to bid at any sale in foreclosure made with respect to any such Encumbrance. Upon the request of Landlord, Tenant shall subordinate this Lease to the lien of a new mortgage on the Leased Property, on the condition that (a) the proposed mortgagee executes a non-disturbance agreement recognizing this Lease, subject to the provisions of Section 33.3, and agreeing, for itself and its successors and assigns, to comply with the provisions of this Section 33 and (b) such lien is subject to the rights of the Tenant under this Leasemortgage.

Landlord May Grant Liens. Without the consent of Tenant, Landlord ------------------------ may, subject to the terms and conditions set forth below in this Section 33.134.1, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrance or title retention agreement (“"Encumbrance”") upon the Leased Property, or any portion thereof or interest therein, whether to secure any borrowing or other means of financing or refinancing. Any such Encumbrance shall (a) contain the right to prepay (whether or not subject to a prepayment penalty); and (b) contain the Agreement agreement by the holder of the Encumbrance that it will (1) give Tenant the same notice, if any, given to Landlord of any default or acceleration of any obligation underlying any such Encumbrance or any sale in foreclosure under such Encumbrance, (2) permit Tenant to cure any such default on Landlord’s 's behalf within any applicable cure period, and Tenant shall be reimbursed by Landlord for any and all costs incurred in effecting such cure, including without limitation out-of-pocket costs incurred to effect any such cure (including reasonable attorneys’ ' fees) and (3) permit Tenant to appear by its representative and to bid at any sale in foreclosure made with respect to any such Encumbrance. Upon the request of Landlord, Tenant shall subordinate this Lease to the lien of a new mortgage on the Leased Property, on the condition that (a) the proposed mortgagee executes a non-disturbance agreement recognizing this Lease, subject to the provisions of Section 33.3, and agreeing, for itself and its successors and assigns, to comply with the provisions of this Section 33 and (b) such lien is subject to the rights of the Tenant under this Lease.