Common use of Landlord Mortgages; Subordination Clause in Contracts

Landlord Mortgages; Subordination. Subject to Section 14.03, without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrances or title retention agreement on the Leased Properties, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This Agreement and each Lease and Tenant's rights under this Agreement and each Lease are subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, and no further instrument or subordination will be required in order to effect it. However, Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord, such documents as may be requested by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, to confirm or effect any such subordination. If Tenant fails or refuses to execute, acknowledge, and deliver any such document within twenty (20) days after written demand, Landlord may execute, acknowledge and deliver any such document on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Section. This power of attorney is coupled with an interest and is irrevocable.

Landlord Mortgages; Subordination. Subject to Section 14.0315.03, --------------------------------- without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lienliens, encumbrances encumbrances, security interests or title retention agreement agreements on the any Leased PropertiesProperty, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, without cost to Landlord, a Subordination and Non-Disturbance Agreement and each Lease and in the form attached hereto as Exhibit 15.02, which provides that (i) Tenant's ------------- rights under this Agreement and each Lease hereunder are subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification modification, or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, ; and no further instrument or subordination will be required (ii) in order to effect it. However, Tenant shall execute, acknowledge and deliver the event such party succeeds to Landlord, at any time 's interest under the Lease and from time to time upon demand provided that no Event of Default by LandlordTenant exists, such documents as may be requested by Landlord party will not disturb Tenant's possession, use or any mortgagee or any holder occupancy of any mortgage or other instrument described in this Section, to confirm or effect any such subordinationthe subject Leased Property. If Tenant fails or refuses to execute, acknowledge, and deliver any such document Subordination and Non-Disclosure Agreement within twenty ten (2010) business days after written demand, then Landlord shall send to Tenant a second written demand. If Tenant fails or refuses to execute, acknowledge and deliver such Subordination and Non-Disclosure Agreement within ten (10) days after such second written demand, then Landlord or such successor in interest may execute, acknowledge and deliver any such document Subordination and Non-Disclosure Agreement on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Sectionthe Subordination and Non- Disclosure Agreement. This power of attorney is coupled with an interest and is irrevocable.

Landlord Mortgages; Subordination. Subject to Section 14.0315.03, --------------------------------- without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lienliens, encumbrances encumbrances, security interests or title retention agreement agreements on the any Leased PropertiesProperty, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, without cost to Landlord, a Subordination and Non-Disturbance Agreement and each Lease and in the form attached hereto as Exhibit 15.02, which provides that (i) Tenant's rights under this Agreement and each Lease hereunder are subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification modification, or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, ; and no further instrument or subordination will be required (ii) in order to effect it. However, Tenant shall execute, acknowledge and deliver the event such party succeeds to Landlord, at any time 's interest under the Lease and from time to time upon demand provided that no Event of Default by LandlordTenant exists, such documents as may be requested by Landlord party will not disturb Tenant's possession, use or any mortgagee or any holder occupancy of any mortgage or other instrument described in this Section, to confirm or effect any such subordinationthe subject Leased Property. If Tenant fails or refuses to execute, acknowledge, and deliver any such document Subordination and Non-Disclosure Agreement within twenty ten (2010) business days after written demand, then Landlord shall send to Tenant a second written demand. If Tenant fails or refuses to execute, acknowledge and deliver such Subordination and Non- Disclosure Agreement within ten (10) days after such second written demand, then Landlord or such successor in interest may execute, acknowledge and deliver any such document Subordination and Non-Disclosure Agreement on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Sectionthe Subordination and Non- Disclosure Agreement. This power of attorney is coupled with an interest and is irrevocable.

Landlord Mortgages; Subordination. Subject to Section 14.0315.03, without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lienliens, encumbrances encumbrances, security interests or title retention agreement agreements on the any Leased PropertiesProperty, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, without cost to Landlord, a Subordination and Non-Disturbance Agreement and each Lease and in the form attached hereto as Exhibit 15.02, which provides that (i) Tenant's rights under this Agreement and each Lease hereunder are subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification modification, or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, ; and no further instrument or subordination will be required (ii) in order to effect it. However, Tenant shall execute, acknowledge and deliver the event such party succeeds to Landlord, at any time 's interest under the Lease and from time to time upon demand provided that no Event of Default by LandlordTenant exists, such documents as may be requested by Landlord party will not disturb Tenant's possession, use or any mortgagee or any holder occupancy of any mortgage or other instrument described in this Section, to confirm or effect any such subordinationthe subject Leased Property. If Tenant fails or refuses to execute, acknowledge, and deliver any such document Subordination and Non-Disclosure Agreement within twenty ten (2010) business days after written demand, then Landlord shall send to Tenant a second written demand. If Tenant fails or refuses to execute, acknowledge and deliver such Subordination and Non-Disclosure Agreement within ten (10) days after such second written demand, then Landlord or such successor in interest may execute, acknowledge and deliver any such document Subordination and Non-Disclosure Agreement on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-attorney- in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Sectionthe Subordination and Non-Disclosure Agreement. This power of attorney is coupled with an interest and is irrevocable.

Landlord Mortgages; Subordination. Subject to Section 14.0315.03, without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrances or title retention agreement on the Leased Properties, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This Agreement and each Lease and Tenant's rights under this Agreement and each Lease are subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, and no further instrument or subordination will be required in order to effect it. However, Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord, such documents as may be requested by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, to confirm or effect any such subordination. If Tenant fails or refuses to execute, acknowledge, and deliver any such document within twenty (20) days after written demand, Landlord may execute, acknowledge and deliver any such document on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Section. This power of attorney is coupled with an interest and is irrevocable.

Landlord Mortgages; Subordination. Subject to Section 14.0313.03, without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrances encumbrance or title retention agreement on the Leased Properties, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This Except as set forth in Section 14.21 hereof, this Agreement and each Lease and Tenant's rights under this Agreement and each Lease hereunder are subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, and no further instrument or subordination will be required in order to effect it. However, Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord, such documents as may be requested by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, to confirm or effect any such subordination. If Tenant fails or refuses to execute, acknowledge, and deliver any such document within twenty (20) days after written demand, Landlord may execute, acknowledge and deliver any such document on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Section. This power of attorney is coupled with an interest and is irrevocable.

Landlord Mortgages; Subordination. Subject to Section 14.0315.03, without the consent of Tenant, Landlord may, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrances or title retention agreement on the Leased Properties, or any portion thereof or any interest therein, whether to secure any borrowing or other means of financing or refinancing. This So long as Landlord obtains a nondisturbance agreement in accordance with Section 15.03, this Agreement and each Lease and Tenant's rights under this Agreement and each Lease are shall be subordinate to any ground lease or underlying lease, first mortgage, first deed of trust, or other first lien against any Leased Property, together with any renewal, consolidation, extension, modification or replacement thereof, which now or at any subsequent time affects any Leased Property or any interest of Landlord in any Leased Property, except to the extent that any such instrument expressly provides that this Agreement and each Lease is superior. This provision will be self-operative, and no further instrument or subordination will be required in order to effect it. However, Tenant shall execute, acknowledge and deliver to Landlord, at any time and from time to time upon demand by Landlord, such documents as may be requested by Landlord or any mortgagee or any holder of any mortgage or other instrument described in this Section, to confirm or effect any such subordination. If Tenant fails or refuses to execute, acknowledge, and deliver any such document within twenty (20) days after written demand, Landlord may execute, acknowledge and deliver any such document on behalf of Tenant as Tenant's attorney-in-fact. Tenant hereby constitutes and irrevocably appoints Landlord, its successors and assigns, as Tenant's attorney-in-fact to execute, acknowledge, and deliver on behalf of Tenant any documents described in this Section. This power of attorney is coupled with an interest and is irrevocable.