Leasehold Mortgagee Protection Sample Clauses

Leasehold Mortgagee Protection. If, in connection with Tenant obtaining or entering into any financing for any portion of the Premises as permitted hereunder, the Leasehold Mortgagee may request commercially reasonable and typical leasehold financing modifications to this Lease (including, without limitation as to this Article XVII), and County shall, within ninety (90) days after request therefor, endeavor to approve and execute an amendment to this Lease including such modifications, provided such modifications are reasonable, do not increase the obligations of County hereunder, or adversely affect County’s fee estate or County’s rights hereunder. In the event of any default on the part of Tenant, County will give notice by registered or certified mail to any beneficiary of a leasehold deed of trust or mortgage covering the Premises whose address shall have been furnished to County, and shall offer such beneficiary or mortgagee the same opportunity to cure the default as provided to Tenant hereunder (including with respect to any such beneficiary or mortgagee, time to obtain possession of the Premises, subject to this Lease and County’s rights hereunder, by power of sale or judicial foreclosure, if such should prove necessary to effect a cure).
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Leasehold Mortgagee Protection. With regard to the Hotel Master Lease and the Pad Sites Master Lease, if the applicable Sublease is structured as a ground lease and the applicable sublessee is responsible to construct all buildings and other improvements thereunder, the Master Lease will be amended for such Sublease to provide for leasehold mortgagee protection provisions as are commercially reasonable to facilitate financing of improvements by the sublessee under such Sublease. For the Hotel Lease or a replacement lease under the Hotel Master Lease only, the Hotel Master Lease will require that Purchaser provide a subordination of any fee mortgage (a) to any parking, access or other easement created against the Shopping Center for the benefit of the tenant under the Hotel Lease or replacement lease under the Hotel Master Lease; and (b) against the land upon which the Hotel will be constructed under the Hotel Lease or the replacement lease under the Hotel Master Lease (such premises, the “Hotel Premises”), but only if the Hotel Exhibit “H”- 4 Premises can be legally conveyed and encumbered separate and apart from the remainder of the Shopping Center. If the Hotel Premises cannot be so legally conveyed and encumbered, Purchaser agrees, at no cost or liability to Purchaser, to reasonably cooperate with Seller in either (i) causing the Hotel Premises to become a legally subdivided lot in accordance with all applicable legal requirements, or (ii) causing the Shopping Center to be subject to a condominium declaration so that the Hotel Premises are a separate condominium unit separate from the remainder of the Shopping Center. In either case, it is contemplated that the Shopping Center will be encumbered with an easement for the benefit of the Hotel Premises for ingress, egress, parking and related rights for use of common areas. It is agreed that Purchaser (and, if applicable, Purchaser’s lender) has the right to approve (such approval not to be unreasonably withheld) the forms of the easement and condominium documentation, as well as any requirements imposed by any governmental authority as a condition to any such condominium or subdivision, as applicable, and that Purchaser will not be acting unreasonably by requiring customary control rights (whether directly of through an association) under the condominium documentation as the holder of the largest condominium percentage. In addition, for each Sublease that complies with the requirements hereunder, Purchaser agrees to provide a subordinat...
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Leasehold Mortgagee Protection. The Administrative Agent shall have received an Estoppel Certificate, substantially in the form of Exhibit G-2 or otherwise acceptable to the Administrative Agent from each landlord (other than a Borrower) party to a lease set forth on Schedule 6.6 and the landlord under the Walgreens Lease, together with copies of notices which have been delivered to each landlord advising same of the existence of a leasehold mortgage on the leased premises subject to each such lease, satisfying the notice requirements of such lease, and in form and substance satisfactory to the Administrative Agent. To the extent that any such lease does not include mortgagee protection provisions reasonably acceptable to the Administrative Agent, such Estoppel Certificate shall include such mortgagee protection provisions reasonably required by the Administrative Agent.
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Leasehold Mortgagee Protection. If, in connection with Tenant obtaining or entering into any financing for any portion of the Premises as permitted hereunder, the Leasehold Mortgagee may request 099578\11441513v7 43 commercially reasonable and typical leasehold financing modifications to this Lease (including, without limitation as to this Article XVII), and County shall, within ninety (90) days after request therefor, endeavor to approve and execute an amendment to this Lease including such modifications, provided such modifications are reasonable, do not increase the obligations of County hereunder, or adversely affect County’s fee estate or County’s rights hereunder. In the event of any default on the part of Tenant, County will give notice by registered or certified mail to any beneficiary of a leasehold deed of trust or mortgage covering the Premises whose address shall have been furnished to County, and shall offer such beneficiary or mortgagee the same opportunity to cure the default as provided to Tenant hereunder (including with respect to any such beneficiary or mortgagee, time to obtain possession of the Premises, subject to this Lease and County’s rights hereunder, by power of sale or judicial foreclosure, if such should prove necessary to effect a cure).
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Leasehold Mortgagee Protection. In the event that a Leasehold ------------------------------ Mortgagee shall provide LESSOR with written notice of its name and address and a copy of its Leasehold Mortgage then, following receipt by LESSOR of such written notice and for so long as such Leasehold Mortgage shall remain unsatisfied of record or until written notice of satisfaction of such Leasehold Mortgage is given by the Leasehold Mortgagee to LESSOR, the provisions of this Paragraph 2 shall apply to each such Leasehold Mortgagee. LESSOR shall promptly upon receipt of a communication under this Paragraph 2 acknowledge in writing receipt of said communication to LESSEE and such Leasehold Mortgagee as satisfying the requirements of this Paragraph 2, or, in the alternative, reject in writing said notice as not complying with the provisions of this Paragraph 3 and specify the specific grounds for such rejection. Upon the request of such Leasehold Mortgagee, LESSOR shall acknowledge receipt of a satisfactory notice by an instrument in recordable form. In the event that LESSOR shall fail to reject any such notice on or before fifteen (15) days after the receipt by LESSOR of such notice, such notice shall be deemed to have satisfied the requirements of this Paragraph 2. In the event of any assignment of a Leasehold Mortgage or in the event of a change of address of a Leasehold Mortgagee or of an assignee of such Leasehold Mortgagee written notice of such new name and/or address shall be provided to LESSOR.
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Leasehold Mortgagee Protection. Lessor shall cooperate with Lessee, and any assignee or sublessee of Lessee in including in this lease by suitable amendment from time to time any provisions which may reasonably be requested by any proposed Leasehold Mortgagee for the purpose of allowing such Leasehold Mortgagee reasonable means to protect or preserve the lien of the Leasehold Mortgagee and to substitute Leasehold Mortgagee for Lessee on the occurrence of a default under the terms of this lease. Lessor and Lessee each agree to execute and deliver and to acknowledge, if necessary, for recording purposes any agreement necessary to effect any such amendment; provided, however, that any such amendment shall not in any way affect the term or rent under this lease nor otherwise in any material respect adversely affect any rights of Lessee or Lessor under this lease.
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Leasehold Mortgagee Protection. The Administrative Agent shall have received an Estoppel Certificate, substantially in the form of EXHIBIT P or otherwise acceptable to the Administrative Agent and the Arranger, from each landlord (other than a Borrower) party to a lease set forth on SCHEDULE 7.7, together with (except with respect to the Harrah's Lease) copies of notices which have been delivered to each xuch landlord advising same of the existence of a leasehold mortgage on the leased premises subject to such lease, satisfying the notice requirements of each such lease, and in form and substance satisfactory to the Administrative Agent and the Arranger.
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Leasehold Mortgagee Protection. The Administrative Agent shall have received an Estoppel Certificate, substantially in the form of Exhibit P or otherwise acceptable to the Administrative Agent and the Arranger, from each landlord (other than a Borrower) party to a lease set forth on Schedule 7.7, together with copies of notices which have been delivered to each such landlord advising same of the existence of a leasehold mortgage on the leased premises subject to such lease, satisfying the notice requirements of each such lease, and in form and substance satisfactory to the Administrative Agent and the Arranger.
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Related to Leasehold Mortgagee Protection

  • MORTGAGEE PROTECTION Tenant agrees to give any Mortgagee or ground lessor, by registered or certified mail, a copy of any notice of default served upon the Landlord by Tenant, provided that prior to such notice Tenant has received notice (by way of service on Tenant of a copy of an assignment of rents and leases, or otherwise) of the address of such Mortgagee or ground lessor. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the Mortgagee or ground lessor shall have an additional thirty (30) days after receipt of notice thereof within which to cure such default or if such default cannot be cured within that time, then such additional notice time as may be necessary, if, within such thirty (30) days, any Mortgagee or ground lessor has commenced and is diligently pursuing the remedies necessary to cure such default (including commencement of foreclosure proceedings or other proceedings to acquire possession of the Real Property, if necessary to effect such cure). Such period of time shall be extended by any period within which such Mortgagee or ground lessor is prevented from commencing or pursuing such foreclosure proceedings or other proceedings to acquire possession of the Real Property by reason of Landlord’s bankruptcy. Until the time allowed as aforesaid for Mortgagee or ground lessor to cure such defaults has expired without cure, Tenant shall have no right to, and shall not, terminate this Lease on account of default. This Lease may not be modified or amended so as to reduce the Rent or shorten the Term, or so as to adversely affect in any other respect to any material extent the rights of the Landlord, nor shall this Lease be canceled or surrendered, without the prior written consent, in each instance, of the ground lessor or the Mortgagee.

  • Leasehold Mortgage Provide whether the tenant can mortgage its leasehold interest as security for a loan. 20.

  • Leasehold Mortgages Subject to the requirements of this Article XX, Lessee may assign or encumber Lessee’s interest in the Leasehold as security for any debt or obligation of Lessee [to an Institutional Investor] by a Leasehold Mortgage containing such terms and provisions as Lessee may, in its sole discretion, deem fit and proper; provided, however, that all right, title and interest acquired by such Leasehold Mortgagee under such Leasehold Mortgage from Lessee shall be subject to this Lease and to the rights and interests of Lessor herein and to the rights of any holder of a Fee Mortgage arising under or by virtue of this Lease. Lessor shall have the right to request and, Lessee shall use its commercially reasonable efforts to obtain, a non-disturbance agreement from any Leasehold Mortgagee, in favor of Lessor and any holder of a Fee Mortgage, confirming that the provisions of this Lease, including the provisions of this Section 20.2, will be honored by and binding upon any Leasehold Mortgagee, and further containing such other terms and conditions as the holder of a Fee Mortgage shall reasonably request, including attornment of Lessee to the holder of the Fee Mortgage in the event the holder of the Fee Mortgage succeeds to the interest of Lessor hereunder.

  • Notice to Mortgagee Notwithstanding anything to the contrary in the Lease or this Agreement, before exercising any Termination Right or Offset Right, Tenant shall provide Mortgagee with notice of the breach or default by Landlord giving rise to same (the “Default Notice”) and, thereafter, the opportunity to cure such breach or default as provided for below.

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