Common use of Landlord’s Financing Clause in Contracts

Landlord’s Financing. This Lease shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of Lxxxxxxx’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract.

Appears in 3 contracts

Samples: Lease Agreement (Fatpipe Inc/Ut), Lease Agreement (Fatpipe Inc/Ut), Lease Agreement (Fatpipe Inc/Ut)

AutoNDA by SimpleDocs

Landlord’s Financing. This Lease shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions (whether recorded on or after the date of this Lease) and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority priority, or a subordination to any future first mortgage or first deed of trust and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments, within ten fifteen (1015) days after written request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract. Landlord shall, at Landlord’s sole cost and expense, exercise commercially reasonable, good faith efforts to obtain a non-disturbance agreement in favor of Tenant (which will likely contain a subordination and attornment agreement) from any lender holding a mortgage lien on the Premises that is prior in time to this Lease.

Appears in 2 contracts

Samples: Office Lease (Cricut, Inc.), Office Lease (Cricut, Inc.)

Landlord’s Financing. This Lease lease shall be subordinate to any existing or future first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions trust and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the any holder of any a mortgage or deed of trust elects shall elect to have this Lease superior to the lien of its mortgage or deed of trust and gives shall give written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreementrequest therefore. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all the Premises or any portion of the Propertythereof. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract.

Appears in 2 contracts

Samples: Credit Agreement (Herbst Gaming Inc), Credit Agreement (Herbst Gaming Inc)

Landlord’s Financing. This Within ten (10) business days after Landlord’s request, Tenant shall execute a subordination, non-disturbance and attornment agreement or other similar document, subordinating this Lease shall be subordinate to any existing first mortgage, first deed of trusttrust or similar instrument covering the Property, ground leaseand providing a non-disturbance agreement in favor of Tenant, declaration of covenants, conditions, easements all in reasonable form and restrictions substance reasonably satisfactory to Tenant and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordinationthe lender concerned. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust, whether such notice is given before or after foreclosure. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of On any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, such sale, assignment or transfer shall be subject to this Lease Lease, and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract, provided that such successors and assigns recognize this Lease and do not disturb Tenant’s use and occupancy of the Premises so long as no Tenant Default exists under this Lease. Landlord shall use its best efforts to obtain a subordination, non-disturbance and attornment agreement in favor of Tenant from Landlord’s current mortgage lender in form and substance reasonably satisfactory to the Parties and such lender, and Tenant shall be solely responsible for any costs, expenses or fees payable to such lender or such lender’s legal counsel in connection therewith.

Appears in 2 contracts

Samples: Lease Agreement (Vivint Solar, Inc.), Lease Agreement (Vivint Solar, Inc.)

Landlord’s Financing. This Lease Agreement shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease Agreement shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease Agreement superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease Agreement shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may reasonably be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this LeaseAgreement, join with Landlord in amending this Lease Agreement so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the PropertyMillrock East. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease Agreement or in the PremisesMillrock East, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease Agreement and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this LeaseAgreement, regardless of any rule of law to the contrary or absence of privity of contract, and such successors and assigns shall recognize this Agreement.

Appears in 1 contract

Samples: Office Lease (CHG Healthcare Services, Inc.)

Landlord’s Financing. This Lease shall be subordinate to any existing first deed of trust, mortgage, ground lease or other security instrument (each a "Mortgage") that now or hereafter covers all or any part of the Premises (the mortgagee under any such Mortgage is referred to herein as a "Landlord's Mortgagee"). The provisions of this Section shall be self-operative and no further instrument of subordination shall be required. Nevertheless, Tenant shall, within ten (10) days after Landlord's written request, execute such documents as may reasonably be required by Landlord to evidence the subordination of this Lease to any first mortgage or first deed of trust, ground lease, declaration provided that the lender relying on such subordination agrees that Tenant shall not be disturbed in the event of covenants, conditions, easements foreclosure so long as Tenant is not in default under this Lease and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions no event has occurred which with the passage of any time or the giving of notice or both would constitute such instrumentsa default. No documentation other than this This Lease shall be required deemed prior to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to if the lien of its mortgage or deed of trust and lender concerned gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of Lxxxxxxx’s Landlord's interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s 's default under a debt obligation, shall be subject to this Lease Lease, and Tenant shall attorn to Landlord’s 's successors and assigns and shall recognize such successors or and assigns as Landlord the landlord under this Lease, regardless Lease regard-less of any rule of law to the contrary or the absence of privity of contract.

Appears in 1 contract

Samples: Lease Agreement (SpectrumDNA, Inc.)

Landlord’s Financing. This Lease Agreement shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease Agreement shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease Agreement superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease Agreement shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may reasonably be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this LeaseAgreement, join with Landlord in amending this Lease Agreement so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the PropertyMillrock South. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease Agreement or in the PremisesMillrock South, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease Agreement and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this LeaseAgreement, regardless of any rule of law to the contrary or absence of privity of contract, and such successors and assigns shall recognize this Agreement.

Appears in 1 contract

Samples: Office Lease (CHG Healthcare Services, Inc.)

Landlord’s Financing. This Within ten (10) business days after Landlord’s request, Tenant shall execute a subordination, non-disturbance and attornment agreement or other similar document, subordinating this Lease shall be subordinate to any existing first mortgage, first deed of trusttrust or similar instrument covering the Property, ground leaseand providing a non-disturbance agreement in favor of Tenant, declaration of covenants, conditions, easements all in reasonable form and restrictions substance reasonably satisfactory to Tenant and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordinationthe lender concerned. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust, whether such notice is given before or after foreclosure. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of On any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, such sale, assignment or transfer shall be subject to this Lease Lease, and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract, provided that such successors and assigns recognize this Lease and do not disturb Tenant’s use and occupancy of the Premises so long as no Tenant Default exists under this Lease. Landlord shall use its best efforts to obtain a subordination, non-disturbance and attornment agreement in favor of Tenant from Landlord’s current mortgage lender in form and substance reasonably satisfactory to the Parties and such lender, and Tenant shall be solely responsible for any costs, expenses or fees payable in connection therewith.

Appears in 1 contract

Samples: Lease (Health Catalyst, Inc.)

Landlord’s Financing. This This. Lease shall be subordinate to any existing or future first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions restrictions, declaration of planned unit development or declaration of condominium, and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as which may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s 's economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the PropertyShopping Center. Any In the event of any sale, assignment or transfer of Lxxxxxxx’s Landlord's interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s 's successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract.

Appears in 1 contract

Samples: Shopping Center Lease (MCT Holding Corp)

Landlord’s Financing. This Lease shall will be subordinate to any existing or future first mortgage, first deed of trust, ground lease, lease and declaration of covenants, conditions, easements and restrictions encumbering the Premises, and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall will be required to evidence such subordination. If [f the holder of any mortgage or deed of trust mist elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall will be deemed prior to such mortgage or deed of trust. Tenant shall will execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10l0) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall will from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the PropertyPremises. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall will be subject to this Lease and Tenant shall will attorn to Landlord’s successors and assigns and shall will recognize such successors or assigns as Landlord under this Lease, . regardless of any rule law of law to the contrary or absence of privity of contract.

Appears in 1 contract

Samples: Lease Agreement (Co-Diagnostics, Inc.)

AutoNDA by SimpleDocs

Landlord’s Financing. This Lease shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust trust, and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may may71 be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. agreement.72 Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract.contract73. 71 reasonably 72 In addition, so long as Tenant occupies at least 15,000 rentable square feet in the Building, Landlord shall exercise its best, commercially reasonable efforts to cause each lender making a mortgage loan encumbering the Building to enter into a subordination, non-disturbance and attainment agreement. 73 , and such successors and assigns shall recognize this Lease and not disturb Tenant’s use and occupancy of the Premises so long as Tenant is not in default under this Lease

Appears in 1 contract

Samples: Office Lease (CHG Healthcare Services, Inc.)

Landlord’s Financing. This Lease shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may may(23) be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s 's economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of Lxxxxxxx’s Landlord's interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s 's default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s 's successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract.

Appears in 1 contract

Samples: Office Lease (Arkona Inc)

Landlord’s Financing. This Within ten (10) business days after Landlord’s request, Tenant shall execute a subordination, non-disturbance and attornment agreement or other similar document, subordinating this Lease shall be subordinate to any existing first mortgage, first deed of trusttrust or similar instrument covering the Property, ground leaseand providing a non-disturbance agreement in favor of Tenant, declaration of covenants, conditions, easements all in reasonable form and restrictions substance reasonably satisfactory to Tenant and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordinationthe lender concerned. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust, whether such notice is given before or after foreclosure. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of On any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract, provided that such successors and assigns recognize this Lease and do not disturb Tenant’s use and occupancy of the Premises so long as no Tenant Default exists under this Lease. On Tenant’s request, Landlord shall use its best efforts to obtain a subordination, non-disturbance and attornment agreement in favor of Tenant from Landlord’s current mortgage lender in form and substance reasonably satisfactory to the Parties and such lender, and Tenant shall be solely responsible for any costs, expenses or fees payable in connection therewith.

Appears in 1 contract

Samples: Lease Agreement

Landlord’s Financing. This Lease Agreement shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease Agreement shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease Agreement superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease Agreement shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may reasonably be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this LeaseAgreement, join with Landlord in amending this Lease Agreement so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the PropertyMillrock West. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease Agreement or in the PremisesMillrock West, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease Agreement and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this LeaseAgreement, regardless of any rule of law to the contrary or absence of privity of contract, and such successors and assigns shall recognize this Agreement.

Appears in 1 contract

Samples: Office Lease (CHG Healthcare Services, Inc.)

Landlord’s Financing. This Tenant agrees that this Lease shall automatically be subordinate to the lien of any existing first mortgage, first firs-position mortgage or deed of trust, ground lease, declaration trust now or hereafter placed against the realty of covenants, conditions, easements which the Premises comprise a part and restrictions and to all renewals, modifications, amendments, consolidations, replacements supplements consolidations and extensions thereof, provided, however, in the event that the holder of any such instrumentsmortgage or deed of trust shall so elect, its mortgage or deed of trust shall not be disturbed in its possession of the Premises during the full term of this Lease. No documentation other than Tenant agrees to execute such further documents in addition to this Lease shall as may be required to evidence such subordination. If the desired by Landlord or by holder of any firs-position mortgage or deed of trust with respect to the subordination arrangement that is provided for above. In the event any proceedings are brought for foreclosure of, or in the event of the exercise of the power of sale under, any mortgage or deed of trust elects to have this Lease superior covering the Premises, Tenant shall attorn to the lien of its mortgage or deed of trust purchaser and gives written notice of shall recognize such election to Tenant, purchaser as the Landlord under this Lease shall be deemed prior to such mortgage or deed of trustLease. Tenant shall execute such documents as may be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided recognizes that the lender concerned concurrently provides to Tenant a non-disturbance agreement. Tenant shall Landlord's ability from time to time to obtain loan financing for the realty of which the Premises comprise a part may in part be dependent upon the acceptability of the terms of this Lease to the lender concerned. Accordingly, Tenant agrees that from time to time it shall, if so requested by Landlord and if doing so will not materially substantially and adversely affect Tenant’s 's economic interests under this Leaseinterest hereunder, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that which is considering making or that which has made a loan load secured by all a mortgage or any portion deed of the Property. Any sale, assignment or transfer of Lxxxxxxx’s interest under this Lease or in trust affecting the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contract.

Appears in 1 contract

Samples: Office Space Lease (Tomax Corp)

Landlord’s Financing. This Lease shall be subordinate to any existing first mortgage, first deed of trust, ground lease, declaration of covenants, conditions, easements and restrictions and all renewals, modifications, amendments, consolidations, replacements and extensions of any such instruments. No documentation other than this Lease shall be required to evidence such subordination. If the holder of any mortgage or deed of trust elects to have this Lease superior to the lien of its mortgage or deed of trust and gives written notice of such election to Tenant, this Lease shall be deemed prior to such mortgage or deed of trust. Tenant shall execute such documents as may may63 be required by Landlord to confirm such subordination or priority within ten (10) days after request, provided that the lender concerned concurrently provides to Tenant a 63 reasonably non-disturbance agreement. agreement.64 Tenant shall from time to time if so requested by Landlord and if doing so will not materially and adversely affect Tenant’s economic interests under this Lease, join with Landlord in amending this Lease so as to meet the needs or requirements of any lender that is considering making or that has made a loan secured by all or any portion of the Property. Any sale, assignment or transfer of LxxxxxxxLandlord’s interest under this Lease or in the Premises, including any such disposition resulting from Landlord’s default under a debt obligation, shall be subject to this Lease and Tenant shall attorn to Landlord’s successors and assigns and shall recognize such successors or assigns as Landlord under this Lease, regardless of any rule of law to the contrary or absence of privity of contractcontract65.

Appears in 1 contract

Samples: Office Lease (CHG Healthcare Services, Inc.)

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