Common use of Leasehold Mortgages Clause in Contracts

Leasehold Mortgages. In connection with the Redevelopment of the Property, Tenant may from time to time grant one or more mortgages, deeds of trust or other security interests in its leasehold estate under this Lease (a “Leasehold Mortgage”) and assign this Lease as security for such Leasehold Mortgage(s). Such Leasehold Mortgages and any foreclosure, sale or other realization proceeding pursuant to any Leasehold Mortgage granted by Tenant and any deed or assignment in lieu thereof (“Realization Proceedings”) shall not require the consent of Landlord and shall not be subject to the provisions of Section 13 hereof. No Leasehold Mortgage shall place or create any lien or encumbrance affecting Landlord’s interest in the Property or the Improvements. The holder of any Leasehold Mortgage (a “Leasehold Mortgagee”) hereunder shall provide Landlord with notice of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and the name and address of such Leasehold Mortgagee (“Leasehold Mortgagee Address”). Following receipt of such notice by Landlord, the provisions of this Section 14 shall apply in respect to such Leasehold Mortgage. Tenant shall promptly provide to Landlord copies of the note and other instruments secured by any Leasehold Mortgage and any and all amendments to any such instruments as may be made from time to time.

Leasehold Mortgages. In connection with the Redevelopment of the PropertyTenant may, Tenant may from time to time time, grant one to any Institutional Lender providing financing or more mortgagesrefinancing to Tenant with respect to Tenant’s Leasehold Interest in the Private Facilities a Leasehold Mortgage lien encumbering Tenant’s Leasehold Interest in the Private Facilities and its interest in, deeds of trust or other security interests in its leasehold estate to and under this Lease (Lease, together with an assignment of Subleases and rents and a “security interest in any Personal Property owned by Tenant, and an assignment of the Plans and Specifications and development rights under Building Permits, as well Tenant’s rights, title and interest in, to and under agreements with Contractors, Architects and other design building professionals and other income, receipts, revenues, issues and profits inuring to Tenant from the Project, in order to secure the repayment of such financing, including interest thereon, and the performance of all of the terms, covenants and agreements to be performed or observed under all agreements executed in connection with such financing or refinancing. Except as expressly provided by the terms of this Lease, no such Leasehold Mortgage”) and assign this Lease as , lien or security for such Leasehold Mortgage(s). Such Leasehold Mortgages and any foreclosure, sale interest shall attach to Landlord’s Estate or other realization proceeding pursuant the Rent or to any Leasehold Mortgage granted other property owned or leased by Tenant and Landlord nor shall any deed or such assignment in lieu thereof (“Realization Proceedings”) shall not require the consent of Landlord and shall not be subject to the provisions of Section 13 hereof. No Leasehold Mortgage shall place or create any lien or encumbrance affecting affect Landlord’s interest in this Lease, or in any leases and rents or other proceeds from the Property Private Facilities. Tenant may have one (1) or more Leasehold Mortgages at any time and Landlord shall have the Improvements. The right to rely upon any notice, statement or request received from the holder of any Leasehold Mortgage (a “Leasehold Mortgagee”) hereunder shall provide Landlord with notice without investigation or inquiry of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and the name and address of such Leasehold Mortgagee (“Leasehold Mortgagee Address”). Following receipt of such notice by Landlord, the provisions of this Section 14 shall apply in respect to such Leasehold Mortgage. Tenant shall promptly provide to Landlord copies of the note and other instruments secured by any Leasehold Mortgage and any and all amendments to any such instruments as may be made from time to timenature.