Common use of Landlord May Grant Liens Clause in Contracts

Landlord May Grant Liens. (a) Without the consent of Tenant, Landlord may, subject to the terms and conditions set forth in this Section 20.1, from time to time, directly or indirectly, create or otherwise cause to exist any Lien or ground lease upon its interest in the Leased Property, or any portion thereof or interest therein, whether to secure any borrowing or other means of financing or refinancing, provided that any such Lien or ground lease shall be consistent with the requirements of the Management Agreement or otherwise approved by Manager, and shall not modify the terms of this Lease, except as expressly set forth in Section 20.2. Landlord agrees to provide to Tenant copies of all existing and future ground leases, and amendments thereto, which affect the Leased Property. (b) Tenant shall, upon the request of Landlord or any existing, potential or future Facility Mortgagee, and to the extent in Tenant's possession or obtainable from Manager pursuant to the Management Agreement, (i) provide Landlord or the Facility Mortgagee with copies of all licenses, permits, occupancy agreements, operating agreements, leases, contracts, inspection reports, studies, appraisals, assessments, default or other notices and similar materials reasonably requested in connection with any existing or proposed financing of the Leased Property, and (ii) execute such estoppel certificates and collateral assignments with respect to the Facility's licenses and any of the other aforementioned agreements as the Facility Mortgagee may reasonably request in connection with any such financing, provided that no such estoppel certificate or collateral assignment shall, except as expressly set forth in Section 20.2, modify the terms of this Lease.

Landlord May Grant Liens. (a) Without the consent of Tenant, Landlord may, subject to the terms and conditions set forth in this Section 20.1, from time to time, directly or indirectly, create or otherwise cause to exist any Lien lien, encumbrance or ground lease title retention agreement ("Encumbrance") upon its interest in 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 (other than a Hotel Mortgage, provided in which event the provisions of Section 20.2 shall govern) shall be, and shall provide that it is, subject and subordinate to the rights of Tenant under this Agreement. Additionally, Tenant shall cooperate in all reasonable respects, and as generally described in Section 22.15, with any transfer of the Leased Property to a Hotel Mortgagee that succeeds to the interest of Landlord in the Leased Property (including, without limitation, in connection with the transfer of any franchise, license, lease, permit, contract, agreement, or similar item to such Hotel Mortgagee or such Hotel Mortgagee's designee necessary or appropriate to operate the Leased Property). Landlord and Tenant shall cooperate in (a) including in this Agreement by suitable amendment from time to time any provision which may be reasonably requested by any proposed lender, or may otherwise be reasonably necessary, to implement the provisions of this Section 20.1 and (b) entering into any further agreement with or at the request of any Hotel Mortgagee which may be reasonably requested or required by such Hotel Mortgagee in furtherance or confirmation of the provisions of this Section 20.1; provided, however, that any such Lien amendment or ground lease shall be consistent with the requirements of the Management Agreement or otherwise approved by Manager, and agreement shall not modify the terms of this Lease, except as expressly set forth in Section 20.2. Landlord agrees to provide to Tenant copies of all existing and future ground leases, and amendments thereto, which any way affect the Leased Property. (b) Tenant shall, upon the request Term nor affect adversely in any material respect any rights of Landlord or any existing, potential or future Facility Mortgagee, and to the extent in Tenant's possession or obtainable from Manager pursuant to the Management Tenant under this Agreement, (i) provide Landlord or the Facility Mortgagee with copies of all licenses, permits, occupancy agreements, operating agreements, leases, contracts, inspection reports, studies, appraisals, assessments, default or other notices and similar materials reasonably requested in connection with any existing or proposed financing of the Leased Property, and (ii) execute such estoppel certificates and collateral assignments with respect to the Facility's licenses and any of the other aforementioned agreements as the Facility Mortgagee may reasonably request in connection with any such financing, provided that no such estoppel certificate or collateral assignment shall, except as expressly set forth in Section 20.2, modify the terms of this Lease.

Landlord May Grant Liens. (a) Without the consent of Tenant, Landlord may, subject to the terms and conditions set forth in this Section SECTION 20.1, from time to time, directly or indirectly, create or otherwise cause to exist any Lien lien, encumbrance or ground lease title retention agreement ("ENCUMBRANCE") upon its interest in 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 (other than a Hotel Mortgage, provided in which event the provisions of SECTION 20.2 shall govern) shall be, and shall provide that it is, subject and subordinate to the rights of Tenant under this Agreement. Additionally, Tenant shall cooperate in all reasonable respects, and as generally described in SECTION 22.15, with any transfer of the Leased Property to a Hotel Mortgagee that succeeds to the interest of Landlord in the Leased Property (including, without limitation, in connection with the transfer of any franchise, license, lease, permit, contract, agreement, or similar item to such Hotel Mortgagee or such Hotel Mortgagee's designee necessary or appropriate to operate the Leased Property). Landlord and Tenant shall cooperate in (a) including in this Agreement by suitable amendment from time to time any provision which may be reasonably requested by any proposed lender, or may otherwise be reasonably necessary, to implement the provisions of this SECTION 20.1 and (b) entering into any further agreement with or at the request of any Hotel Mortgagee which may be reasonably requested or required by such Hotel Mortgagee in furtherance or confirmation of the provisions of this SECTION 20.1; PROVIDED, HOWEVER, that any such Lien amendment or ground lease shall be consistent with the requirements of the Management Agreement or otherwise approved by Manager, and agreement shall not modify the terms of this Lease, except as expressly set forth in Section 20.2. Landlord agrees to provide to Tenant copies of all existing and future ground leases, and amendments thereto, which any way affect the Leased Property. (b) Tenant shall, upon the request Term nor affect adversely in any material respect any rights of Landlord or any existing, potential or future Facility Mortgagee, and to the extent in Tenant's possession or obtainable from Manager pursuant to the Management Tenant under this Agreement, (i) provide Landlord or the Facility Mortgagee with copies of all licenses, permits, occupancy agreements, operating agreements, leases, contracts, inspection reports, studies, appraisals, assessments, default or other notices and similar materials reasonably requested in connection with any existing or proposed financing of the Leased Property, and (ii) execute such estoppel certificates and collateral assignments with respect to the Facility's licenses and any of the other aforementioned agreements as the Facility Mortgagee may reasonably request in connection with any such financing, provided that no such estoppel certificate or collateral assignment shall, except as expressly set forth in Section 20.2, modify the terms of this Lease.

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