Common use of Leasehold Mortgage Permitted Clause in Contracts

Leasehold Mortgage Permitted. Nothing in this Lease shall be construed as restricting in any manner the right of Tenant, from time to time, or at any time, to create one or more liens on, or encumber, by mortgage, deed of trust or trust deed in the nature of a mortgage (each, a "Leasehold Mortgage") the leasehold interest of Tenant in the Premises, and subject to the restrictions and limitations contained in any such instrument as to further conveyances, transfers and assignments, Tenant will have the right at any time, and from time to time, to convey, transfer and assign its interest under this Lease to a mortgagee or trustee, or its designee, (each "Leasehold Mortgagee") under a Leasehold Mortgage given to secure any note or other obligation of Tenant. Within ten (10) days after any funding of the loan secured by any such Leasehold Mortgage, Tenant shall serve written notice upon Landlord of the existence thereof, shall designate a post office address where notice may be served upon the Leasehold Mortgagee under any such Leasehold Mortgage and shall furnish Landlord with a copy of such Leasehold Mortgage and, to the extent requested by Landlord copies of all other loan documents with respect thereto. Failure of Tenant to serve such notice in a timely manner shall not effect any Leasehold Mortgagee's rights hereunder. A Leasehold Mortgagee shall have the right to make such services and deliveries upon Landlord.

Leasehold Mortgage Permitted. Nothing in this Lease Tenant shall be construed as restricting in any manner the right of Tenant, from time to time, or time and at any time, to create one or more liens on, or encumber, by mortgage, deed of trust or trust deed in the nature of a mortgage (each, a "Leasehold Mortgage") the leasehold interest of Tenant in the Premises, and subject to the restrictions and limitations contained in any such instrument as to further conveyances, transfers and assignments, Tenant will time have the right at any time, and from time to time, to convey, transfer and assign its interest under this Lease to grant a mortgagee or trustee, or its designee, (each "Leasehold Mortgagee") under a Leasehold Mortgage given to secure any note or other obligation of Tenant. Within ten (10) days after any funding of the loan secured by any such Leasehold Mortgage, Tenant shall serve and in such event, upon Xxxxxx’s written notice upon request to Landlord, Landlord of the existence thereofwill execute and deliver a reasonable estoppel certificate and recognition agreement, shall designate a post office address where notice may be served upon each addressed to the Leasehold Mortgagee under any such Leasehold Mortgage setting forth the information described in Section 14.2 hereof, confirming the terms of this Article VIII, and shall furnish providing Landlord’s agreement to recognize the Leasehold Mortgagee or any purchaser of the Rangers Complex at foreclosure in the same manner as an assignee pursuant to Section 7.l hereof. Landlord with agrees to accept amendments of this Lease which are reasonably requested by a copy Leasehold Mortgagee prior to the execution of such its Leasehold Mortgage and, and which are reasonably calculated to protect the extent requested by Landlord copies of all other loan documents with respect thereto. Failure of Tenant to serve such notice in a timely manner shall not effect any Leasehold Mortgagee's ’s interest in this Lease under its Leasehold Mortgage and which do not, in the reasonable opinion of Landlord, materially diminish the rights hereunderof Landlord under this Lease or materially increase the obligations of Landlord under this Lease; provided that Tenant bears all of Landlord’s costs of any such amendments (including reasonable attorney’s fees). A Notwithstanding the foregoing, no Leasehold Mortgagee shall by virtue thereof acquire any greater right in the Rangers Complex and in any building or improvements thereon than Tenant then had under this Lease, and provided further that any Leasehold Mortgage and the indebtedness secured thereby shall at all times be and remain inferior and subordinate to all of the conditions, covenants and obligations of this Lease and to all of the rights of Landlord hereunder. In no event shall Tenant have the right to make such services encumber, subordinate or render inferior in any way Landlord’s fee simple title and deliveries upon Landlordreversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project Documents.

Leasehold Mortgage Permitted. Nothing in this Lease Tenant shall be construed as restricting in any manner the right of Tenant, from time to time, or time and at any time, to create one or more liens on, or encumber, by mortgage, deed of trust or trust deed in the nature of a mortgage (each, a "Leasehold Mortgage") the leasehold interest of Tenant in the Premises, and subject to the restrictions and limitations contained in any such instrument as to further conveyances, transfers and assignments, Tenant will time have the right at any time, and from time to time, to convey, transfer and assign its interest under this Lease to grant a mortgagee or trustee, or its designee, (each "Leasehold Mortgagee") under a Leasehold Mortgage given to secure any note or other obligation of Tenant. Within ten (10) days after any funding of the loan secured by any such Leasehold Mortgage, Tenant shall serve and in such event, upon Xxxxxx’s written notice upon request to Landlord, Landlord of the existence thereofwill execute and deliver a reasonable estoppel certificate and recognition agreement, shall designate a post office address where notice may be served upon each addressed to the Leasehold Mortgagee under any such Leasehold Mortgage setting forth the information described in Section 14.2 hereof, confirming the terms of this Article VIII, and shall furnish providing Landlord’s agreement to recognize the Leasehold Mortgagee or any purchaser of the Rangers Complex at foreclosure or other transfer in lieu of foreclosure in the same manner as an assignee pursuant to Section 7.l hereof. Landlord with agrees to accept amendments of this Lease which are reasonably requested by a copy Leasehold Mortgagee prior to the execution of such its Leasehold Mortgage and, and which are reasonably calculated to protect the extent requested by Landlord copies of all other loan documents with respect thereto. Failure of Tenant to serve such notice in a timely manner shall not effect any Leasehold Mortgagee's ’s interest in this Lease under its Leasehold Mortgage and which do not, in the reasonable opinion of Landlord, materially diminish the rights hereunderof Landlord under this Lease or materially increase the obligations of Landlord under this Lease; provided that Tenant bears all of Landlord’s costs of any such amendments (including reasonable attorney’s fees). A Notwithstanding the foregoing, no Leasehold Mortgagee shall by virtue thereof acquire any greater right in the Rangers Complex and in any building or improvements thereon than Tenant then had under this Lease, and provided further that any Leasehold Mortgage and the indebtedness secured thereby shall at all times be and remain inferior and subordinate to all of the conditions, covenants and obligations of this Lease and to all of the rights of Landlord hereunder. In no event shall Tenant have the right to make such services encumber, subordinate or render inferior in any way Landlord’s fee simple title and deliveries upon Landlordreversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project Documents.

Leasehold Mortgage Permitted. Nothing in this Lease Tenant shall be construed as restricting in any manner the right of Tenant, from time to time, or time and at any time, to create one or more liens on, or encumber, by mortgage, deed of trust or trust deed in the nature of a mortgage (each, a "Leasehold Mortgage") the leasehold interest of Tenant in the Premises, and subject to the restrictions and limitations contained in any such instrument as to further conveyances, transfers and assignments, Tenant will time have the right at any timeto grant Leasehold Mortgages, and from time in such event, upon Tenant's written request to timeLandlord, Landlord will execute and deliver a reasonable estoppel certificate addressed to convey, transfer and assign its interest under this Lease to a mortgagee or trustee, or its designee, (each "Leasehold Mortgagee") under a Leasehold Mortgage given to secure any note or other obligation of Tenant. Within ten (10) days after any funding of the loan secured by any such Leasehold Mortgage, Tenant shall serve written notice upon Landlord of the existence thereof, shall designate a post office address where notice may be served upon the Leasehold Mortgagee under any such Leasehold Mortgage setting forth the information described in Section 12.2 hereof, confirming the terms of this Article 8, and shall furnish Landlord with a copy providing Landlord's agreement to recognize the Leasehold Mortgagee (upon exercise of such remedies under the Leasehold Mortgage and, after default by Tenant thereunder) or any purchaser of the Mortgaged Property at foreclosure in the same manner as an assignee pursuant to Section 7.1 hereof. Landlord agrees to accept any amendments of this Lease which are requested by a Leasehold Mortgagee prior to the extent requested by Landlord copies execution of all other loan documents with respect thereto. Failure of Tenant its Leasehold Mortgage which are reasonably calculated to serve such notice in a timely manner shall not effect any protect the Leasehold Mortgagee's interest in this Lease under its Leasehold Mortgage and do not, in the reasonable opinion of Landlord, materially diminish the rights of Landlord under this Lease. Notwithstanding the foregoing, no Leasehold Mortgagee nor any purchaser of the Mortgaged Property at foreclosure shall by virtue thereof acquire any greater right in the Mortgaged Property and in any building or improvements thereon than Tenant then had under this Lease, and provided further that any Leasehold Mortgage and the indebtedness secured thereby shall at all times be and remain inferior and subordinate to all of the conditions, covenants and obligations of this Lease and to all of the rights of Landlord hereunder. A Leasehold Mortgagee In no event shall Tenant have the right to make such services encumber, subordinate or render inferior in any way Landlord's fee simple title in and deliveries upon Landlordto the Premises.