Common use of Lease Subordinate - Superior Clause in Contracts

Lease Subordinate - Superior. This Lease shall be subject and subordinate to the lien of any institutional first mortgage (“Mortgage”) now or hereinafter placed on the Property, the Building, or both, or any portion or portions thereof or interest therein, which are separately and together hereinafter in this Article IX referred to as “the mortgaged premises”, and to each advance made or hereafter to be made under any Mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. In the event that any mortgagee or its successor in title shall succeed to the interest of Landlord, then, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. Any claim by Tenant under the Lease against the mortgagee or such successor shall be satisfied solely out of the mortgagee’s or such successor’s interest in the Building and Tenant shall not seek recovery against or out of any other assets of mortgagee or such successor. Notwithstanding the foregoing, any mortgagee may at its election subordinate its Mortgage to this Lease without the consent or approval of Tenant. This Section shall be self-operative. Tenant agrees to execute and deliver promptly any commercially reasonable certificates or instruments requested by Landlord or any mortgagee to carry out the subordination and attornment agreements contained in this Section 9.1. Notwithstanding anything in this Lease to the contrary, Landlord shall use commercially reasonable efforts to obtain for Tenant from any current or future mortgagee on the Building or the Property a non-disturbance agreement for the benefit of Tenant, at Tenant’s cost, in a commercially reasonable form prepared by such mortgagee, whereby the mortgagee agrees to recognize the rights of Tenant under this Lease in the event of foreclosure of the Mortgage held by it, so long as Tenant is not in default hereunder, after notice to Tenant and expiration of applicable grace and cure periods.

Lease Subordinate - Superior. This Lease shall be subject and subordinate to the lien of any institutional first mortgage (“Mortgage”) now or hereinafter placed on the Property, the Building, or both, or any portion or portions thereof or interest therein, which are separately and together hereinafter in this Article IX referred to as “the mortgaged premises”, and to each advance made or hereafter to be made under any Mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. In the event that any mortgagee or its successor in title shall succeed to the interest of Landlord, then, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. Any claim by Tenant under the Lease against the mortgagee or such successor shall be satisfied solely out of the mortgagee’s 's or such successor’s 's interest in the Building Premises and Tenant shall not seek recovery against or out of any other assets of mortgagee or such successor. Notwithstanding the foregoing, any mortgagee may at its election subordinate its Mortgage to this Lease without the consent or approval of Tenant. This Section shall be self-operative. Tenant agrees to execute and deliver promptly any commercially reasonable appropriate certificates or instruments requested by Landlord or any mortgagee to carry out the subordination and attornment agreements contained in this Section 9.1; provided that no such certificates or instruments shall modify Tenant’s rights or obligations under this Lease. Notwithstanding anything in this Lease to the contrary, Landlord shall use commercially reasonable efforts to obtain for Tenant from any current or future mortgagee on the Building or the Property a non-disturbance agreement for the benefit of Tenantefforts, at Tenant’s costexpense, in to obtain a commercially reasonable form prepared by such mortgageesubordination, whereby non-disturbance and attornment agreement from the mortgagee agrees to recognize the rights of Tenant under this Lease in the event of foreclosure holder of the existing Mortgage held by it, so long as Tenant is not in default hereunder, after notice on the Property on such holder’s standard form of agreement prior to Tenant and expiration of applicable grace and cure periodsthe Commencement Date.

Lease Subordinate - Superior. This Lease shall be subject and subordinate to the lien of any institutional first mortgage (“Mortgage”) now or hereinafter placed on the PropertyBuilding, the BuildingLand, or both, or any portion or portions thereof thereof, or interest therein, which are separately and together hereinafter in this Article IX VIII referred to as “the mortgaged premises”, and to each advance made or hereafter to be made under any Mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. In , provided, however, that conditioned upon Tenant not being in default under any of the event that any mortgagee or its successor in title shall succeed terms of this Lease, subsequent to the interest Commencement Date and upon Tenant’s delivery of Landlordan estoppel certificate accepting the Premises and acknowledging, thenif true, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. Any claim by Tenant under the Lease against the mortgagee or such successor shall be satisfied solely out of the mortgagee’s or such successor’s interest in the Building and Tenant shall not seek recovery against or out of that Landlord has completed any other assets of mortgagee or such successor. Notwithstanding the foregoing, any mortgagee may at its election subordinate its Mortgage to this Lease without the consent or approval of Tenant. This Section shall be self-operative. Tenant agrees to execute and deliver promptly any commercially reasonable certificates or instruments requested work required by Landlord or any mortgagee hereunder which is to carry out be completed by the subordination and attornment agreements contained in this Section 9.1Commencement Date. Notwithstanding anything in this Lease to the contrary, Landlord shall use commercially reasonable efforts to obtain for Tenant from any current or future such mortgagee on the Building or the Property a non-disturbance agreement for the benefit of Tenant, at Tenant’s cost, behalf an agreement on the part of such mortgagee in a commercially reasonable form prepared by such mortgagee, whereby ’s standard form by the terms of which such mortgagee agrees will agree to recognize the rights of Tenant under this Lease in and to accept Tenant as the event of foreclosure tenant of the Mortgage held by itPremises hereunder if such mortgagee acquires title to the Premises, so long whether through foreclosure proceedings or otherwise. Tenant will agree to recognize such mortgagee as landlord in such event. Such agreement shall be made expressly to bind and enure to the benefit of the successors and assigns of Tenant, such mortgagee and any purchaser of the Property at foreclosure. Tenant is understands and agrees that such agreements will additionally provide that such mortgagee, or any purchaser at a foreclosure sale or otherwise shall not in default hereunder, after notice to Tenant and expiration of applicable grace and cure periods.be:

Lease Subordinate - Superior. This Lease shall be subject and subordinate to the lien of any institutional first mortgage (“Mortgage”) now or hereinafter placed on the Property, the Building, or both, or any portion or portions thereof or interest therein, which are separately and together hereinafter in this Article IX referred to as “the mortgaged premises”, and to each advance made or hereafter to be made under any Mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor, provided, however, that conditioned upon no Event of Default then existing that remains uncured, Landlord shall obtain, at Landlord’s sole cost and expense not to exceed $1,000, a subordination, non-disturbance and attornment agreement from any such mortgagee on Tenant’s behalf in substantially the form attached hereto as Exhibit D. Tenant shall be responsible for any costs imposed by such mortgagee exceeding $1,000. In the event that any mortgagee or its successor in title shall succeed to the interest of Landlord, then, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. Any claim by Tenant under the Lease against the mortgagee or such successor shall be satisfied solely out of the mortgagee’s or such successor’s interest in in. the Building Premises and Tenant shall not seek recovery against or out of any other assets of mortgagee or such successor. Notwithstanding the foregoing, any mortgagee may at its election subordinate its Mortgage to this Lease without the consent or approval of Tenant. This Section shall be self-operative. Tenant agrees to execute and deliver promptly any commercially reasonable appropriate certificates or instruments requested by Landlord or any mortgagee to carry out the subordination and attornment agreements contained in this Section 9.1. Notwithstanding anything in this Lease to the contrary, Landlord shall use commercially reasonable efforts to obtain for Tenant from any current or future mortgagee on the Building or the Property a non-disturbance agreement for the benefit of Tenant, at Tenant’s cost, in a commercially reasonable form prepared by such mortgagee, whereby the mortgagee agrees to recognize the rights of Tenant under this Lease in the event of foreclosure of the Mortgage held by it, so long as Tenant is not in default hereunder, after notice to Tenant and expiration of applicable grace and cure periods.

Lease Subordinate - Superior. This Lease shall be subject and subordinate to the lien of any institutional first mortgage (“Mortgage”) now or hereinafter placed on the PropertyBuilding, the BuildingLand, or both, or any portion or portions thereof thereof, or interest therein, which are separately and together hereinafter in this Article IX VIII referred to as “the mortgaged premises”, and to each advance made or hereafter to be made under any Mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. In the event that any mortgagee or its successor in title shall succeed to the interest of Landlord, then, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. Any claim by Tenant under the Lease against the mortgagee or such successor shall be satisfied solely out of the mortgagee’s or such successor’s interest in the Building and Tenant shall not seek recovery against or out of any other assets of mortgagee or such successortherefore. Notwithstanding the foregoing, any mortgagee may at its election subordinate its Mortgage to this Lease without the consent or approval foregoing automatic subordination of Tenant. This Section shall be self-operative. Tenant agrees to execute and deliver promptly any commercially reasonable certificates or instruments requested by Landlord or any mortgagee to carry out the subordination and attornment agreements contained in this Section 9.1. Notwithstanding anything in this Lease to any such Mortgage, providing that the contraryTenant is not in default under any of the terms of this Lease, at any time after the Commencement Date and upon Tenant’s delivery of an estoppel certificate accepting the Premises and acknowledging that Landlord has completed any work required by Landlord hereunder which is to be completed by the Commencement Date, Landlord shall use commercially reasonable efforts on Tenant’s behalf to obtain for Tenant from any current or future mortgagee on the Building or the Property a non-disturbance agreement for the benefit of Tenant, at Tenant’s cost, in a commercially reasonable form prepared by such mortgagee, an agreement on the part of such mortgagee in such mortgagee’s standard form whereby the such mortgagee agrees will agree to recognize the rights of Tenant under this Lease in and to accept Tenant as the event of foreclosure tenant of the Mortgage held by itPremises hereunder if such mortgagee acquires title to the Premises, so long whether through foreclosure proceedings or otherwise. The agreement shall also provide that Tenant will agree to recognize such mortgagee as landlord in such event. Such agreement shall be made expressly to bind and ensure to the benefit of the successors and assigns of Tenant, such mortgagee and any purchaser of the Property at foreclosure. Tenant is understands and agrees that such agreements will additionally provide that such mortgagee, or any purchaser at a foreclosure sale or otherwise shall not in default hereunder, after notice to Tenant and expiration of applicable grace and cure periods.be: