Common use of Leasehold Mortgage Requirements Clause in Contracts

Leasehold Mortgage Requirements. If Developer shall, ------------------------------- on one or more occasions, take back a Purchase Money Leasehold Mortgage upon a sale and assignment of the Leasehold Estate or shall mortgage Developer's Leasehold Estate to an Institutional Lender, and if the Holder of such Leasehold Mortgage shall provide Landlord with notice of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and the name and address of the Mortgagee, Landlord and Developer agree that, following receipt of such notice by Landlord, the provisions of this Section 4 shall apply in respect to each such Leasehold Mortgage.

Leasehold Mortgage Requirements. If Developer shall, on ------------------------------- on one or more occasions, take back a Purchase Money Leasehold Mortgage upon a sale and assignment of the Leasehold Estate or shall mortgage Developer's Leasehold Estate to an Institutional Lender, and if the Holder of such Leasehold Mortgage shall provide Landlord with notice of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and the name and address of the Mortgagee, Landlord and Developer agree that, following receipt of such notice by Landlord, the provisions of this Section 4 shall apply in respect to each such Leasehold Mortgage.