Common use of Leasehold Mortgage Permitted Clause in Contracts

Leasehold Mortgage Permitted. Tenant shall from time to time and at any time have the right to grant a Leasehold Mortgage, and in such event, upon Xxxxxx’s written request to Landlord, Landlord will execute and deliver a reasonable estoppel certificate and recognition agreement, each addressed to the Leasehold Mortgagee under such Leasehold Mortgage setting forth the information described in Section 14.2 hereof, confirming the terms of this Article VIII, and 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 agrees to accept amendments of this Lease which are reasonably requested by a Leasehold Mortgagee prior to the execution of its Leasehold Mortgage and which are reasonably calculated to protect the Leasehold Mortgagee’s interest in this Lease under its Leasehold Mortgage and which do not, in the reasonable opinion of Landlord, materially diminish the rights of 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). 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 encumber, subordinate or render inferior in any way Landlord’s fee simple title and reversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project Documents.

Leasehold Mortgage Permitted. Tenant shall from time to time and at any time have the right to grant a Leasehold MortgageMortgages, and in such event, upon Xxxxxx’s Tenant's written request to Landlord, Landlord will execute and deliver a reasonable estoppel certificate and recognition agreement, each addressed to the Leasehold Mortgagee under any such Leasehold Mortgage setting forth the information described in Section 14.2 12.2 hereof, confirming the terms of this Article VIII8, and providing Landlord’s 's agreement to recognize the Leasehold Mortgagee (upon exercise of remedies under the Leasehold Mortgage after default by Tenant thereunder) or any purchaser of the Rangers Complex Mortgaged Property at foreclosure or other transfer in lieu of foreclosure in the same manner as an assignee pursuant to Section 7.l 7.1 hereof. Landlord agrees to accept any amendments of this Lease which are reasonably requested by a Leasehold Mortgagee prior to the execution of its Leasehold Mortgage and which are reasonably calculated to protect the 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 of 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). 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 Rangers Complex 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. In no event shall Tenant have the right to encumber, subordinate or render inferior in any way Landlord’s 's fee simple title and reversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project DocumentsPremises.

Leasehold Mortgage Permitted. Tenant shall from time to time and at any time have the right to grant a Leasehold Mortgage, and in such event, upon XxxxxxTenant’s written request to Landlord, Landlord will execute and deliver a reasonable estoppel certificate and recognition agreement, each addressed to the Leasehold Mortgagee under such Leasehold Mortgage setting forth the information described in Section 14.2 hereof, confirming the terms of this Article VIII, and 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 agrees to accept amendments of this Lease which are reasonably requested by a Leasehold Mortgagee prior to the execution of its Leasehold Mortgage and which are reasonably calculated to protect the Leasehold Mortgagee’s interest in this Lease under its Leasehold Mortgage and which do not, in the reasonable opinion of Landlord, materially diminish the rights of 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). 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 encumber, subordinate or render inferior in any way Landlord’s fee simple title and reversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project Documents.

Leasehold Mortgage Permitted. Tenant shall from time to time and at any time have the right to grant a Leasehold Mortgage, and in such event, upon Xxxxxx’s written request to Landlord, Landlord will execute and deliver a reasonable estoppel certificate and recognition agreement, each addressed to the Leasehold Mortgagee under such Leasehold Mortgage setting forth the information described in Section 14.2 hereof, confirming the terms of this Article VIII, and 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 agrees to accept amendments of this Lease which are reasonably requested by a Leasehold Mortgagee prior to the execution of its Leasehold Mortgage and which are reasonably calculated to protect the Leasehold Mortgagee’s interest in this Lease under its Leasehold Mortgage and which do not, in the reasonable opinion of Landlord, materially diminish the rights of 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). 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 encumber, subordinate or render inferior in any way Landlord’s fee simple title and reversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project Documents.

Leasehold Mortgage Permitted. Tenant Nothing in this Lease shall be construed as restricting in any manner the right of Tenant, from time to time and 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 grant a Leasehold Mortgage, make such services and in such event, deliveries upon Xxxxxx’s written request to Landlord, Landlord will execute and deliver a reasonable estoppel certificate and recognition agreement, each addressed to the Leasehold Mortgagee under such Leasehold Mortgage setting forth the information described in Section 14.2 hereof, confirming the terms of this Article VIII, and 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 agrees to accept amendments of this Lease which are reasonably requested by a Leasehold Mortgagee prior to the execution of its Leasehold Mortgage and which are reasonably calculated to protect the Leasehold Mortgagee’s interest in this Lease under its Leasehold Mortgage and which do not, in the reasonable opinion of Landlord, materially diminish the rights of 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). 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 encumber, subordinate or render inferior in any way Landlord’s fee simple title and reversionary interest in and to the Rangers Complex; except as expressly set forth to the contrary in any of the Project Documents.