Common use of Leases; Assignments; Subordination Clause in Contracts

Leases; Assignments; Subordination. Mortgagor shall not lease the Property or any part thereof without the prior written consent of Mortgagee. If Mortgagor shall enter into a lease with the consent of Mortgagee, Mortgagor shall faithfully keep, observe and satisfy all the obligations on the part of the lessor to be kept, performed and satisfied under every lease from time to time in force with reference to the Property, and shall not alter or terminate any such lease, or any guarantee of such lease, except in the ordinary course of business, or accept any rentals for more than one month in advance. Mortgagor hereby assigns to Mortgagee all rents and profits under any and all leases of the Property, provided, however, that Mortgagor shall be entitled to retain such rents and profits until an Event of Default shall have occurred. At any time on notice from Mortgagee, Mortgagor shall submit to Mortgagee for examination all such leases and on the demand of Mortgagee, shall execute and deliver a separate instrument collaterally assigning any or all such leases, or the rents and profits thereof, in form satisfactory to Mortgagee. The Mortgagee shall have the right, by the execution of suitable written instruments from time to time, to subordinate this Mortgage, and the rights of Mortgagee hereunder, to any lease or leases from time to time in force with reference to the Property, and, on the execution of any such instrument, this Mortgage shall be subordinate to the lease for which such subordination is applicable with the same force and effect as if such lease had been executed and delivered, and a notice thereof recorded to the extent required to give notice to third persons, prior to the execution, delivery and recording of this Mortgage.

Leases; Assignments; Subordination. Mortgagor shall not lease the Property or any part thereof at any time when no Senior Debt is outstanding without the prior written consent of Mortgagee. If Mortgagor shall enter into a lease with the consent of Mortgagee, Mortgagor shall faithfully keep, observe and satisfy all the obligations on the part of the lessor to be kept, performed and satisfied under every lease from time to time in force with reference to the Property, Property and shall not alter or terminate any such lease, or any guarantee of such lease, except in the ordinary course of business, or accept any rentals for more than one month in advanceadvance at any time when no Senior Debt is outstanding. Subject to the subordination provisions herein, Mortgagor hereby assigns to Mortgagee all rents and profits under any and all leases of the Property, providedPROVIDED, howeverHOWEVER, that Mortgagor shall be entitled to retain such rents and profits until an Event of Default shall have occurred. At any time on written notice from Mortgagee, when no Senior Debt is outstanding, Mortgagor shall submit to Mortgagee for examination all such leases and on the demand of Mortgagee, shall execute and deliver a separate instrument collaterally assigning any or all such leases, or the rents and profits thereof, in form satisfactory to Mortgagee. The Mortgagee shall have the right, and the obligation, if the mortgagee under the First Cast Roll Mortgage so subordinates, by the execution of suitable written instruments from time to time, to subordinate this Mortgage, and the rights of Mortgagee hereunder, to any lease or leases from time to time in force with reference to the Property, and, on the execution of any such instrument, this Mortgage shall be subordinate to the lease for which such subordination is applicable with the same force and effect as if such lease had been executed and delivered, and a notice thereof recorded to the extent required to give notice to third persons, prior to the execution, delivery and recording of this Mortgage.

Leases; Assignments; Subordination. Except to the extent expressly permitted pursuant to the Loan Agreement, Mortgagor shall not lease the Property or any part thereof without the prior written consent of the Mortgagee. If Mortgagee shall consent and Mortgagor shall enter into a lease with the consent of Mortgageelease, Mortgagor shall faithfully keep, observe and satisfy all the obligations on the part of the lessor to be kept, performed and satisfied under every lease from time to time in force with reference to the Property, and shall not alter or terminate any such lease, or any guarantee of such lease, except in the ordinary course of business, or accept any rentals for more than one month in advance. As part of the consideration for the Obligations, Mortgagor hereby assigns has absolutely and unconditionally assigned and transferred to Mortgagee all of Mortgagor's right, title and interest in and to the leases of the Property and the rents and profits under any and all leases of the Propertytherefrom, provided, however, that Mortgagor shall be entitled to retain such rents and profits -------- as trustee for the benefit of Mortgagee until an Event of Default shall have occurred. At any time on notice from Mortgagee, Mortgagor shall submit to Mortgagee for examination all such leases and on the demand of Mortgagee, shall execute and deliver a separate instrument collaterally assigning any or all such leases, or the rents and profits thereof, in form satisfactory to Mortgagee. The Mortgagee shall have no obligations or liabilities to tenants under any such leases unless and until the rightMortgagee takes actual possession of the Property after the occurrence and during the continuance of an Event of Default, by in which case the execution obligations of suitable written instruments from time the Mortgagee will be limited to time, to subordinate this Mortgage, and those arising after the rights Mortgagee takes possession of Mortgagee hereunder, to any lease or leases from time to time in force with reference to the Property, and, on the execution . Until Mortgagee has taken possession or has given Mortgagor notice of termination of any such instrument, this Mortgage shall be subordinate to rights the lease for which Mortgagor may exercise all rights of landlord under such subordination is applicable with the same force and effect as if such lease had been executed and delivered, and a notice thereof recorded to the extent required to give notice to third persons, prior to the execution, delivery and recording of this Mortgage.leases

Leases; Assignments; Subordination. Mortgagor Borrower shall not lease the Real Property or any part thereof without the prior written consent of MortgageeLender other than the Operating Lease. If Mortgagor shall enter into a lease with the consent of Mortgagee, Mortgagor Borrower shall faithfully keep, observe and satisfy all the obligations on the part of the lessor or lessee, as applicable, to be kept, performed and satisfied under every lease (including the Operating Lease and the Ground Lease) from time to time in force with reference to the Real Property, and shall not alter or terminate any such leaselease (including the Operating Lease and the Ground Lease), or any guarantee of such leaselease (including the Operating Lease and the Ground Lease), except in the ordinary course of business, or accept any rentals for more than one (1) month in advance (or, with respect to the Ground Lease, pay any rentals for more than one (1) month in advance). Mortgagor Borrower shall submit to Lender for its review and prior written approval all draft agreements, related materials and all other information relating to all proposed leases of the Real Property (including the Operating Lease and the Ground Lease) or any portion thereof, all proposed lease modifications relating to the leases (including the Operating Lease and the Ground Lease), and all proposed renewals of such leases. Borrower hereby assigns to Mortgagee Lender all rents and profits under any and all leases (including the Operating Lease) of the Real Property, provided, however, that Mortgagor shall be entitled to retain such rents and profits until an Event of Default shall have occurred. At any time on notice from MortgageeLender, Mortgagor Borrower shall submit to Mortgagee Lender for examination all such leases and on the demand of MortgageeLender, shall execute and deliver a separate instrument collaterally assigning any or all such leases, or the rents and profits thereof, in form satisfactory to MortgageeLender. The Mortgagee Lender shall have the right, by the execution of suitable written instruments from time to time, to subordinate this the Mortgage, and the rights of Mortgagee hereunderLender thereunder, to any lease or leases from time to time in force with reference to the Property, and, on the execution of any such instrument, this the Mortgage shall be subordinate to the lease for which such subordination is applicable with the same force and effect as if such lease had been executed and delivered, and a notice thereof recorded to the extent required to give notice to third persons, prior to the execution, delivery and recording of the Mortgage. Nothing contained in this Section is intended, nor shall it be deemed, to constitute consent by Lender to a subordination of the lien of the Mortgage.

Leases; Assignments; Subordination. Mortgagor The Borrower shall not lease the Property or any part thereof without the prior written consent of Mortgageethe Bank. If Mortgagor the Bank shall consent and the Borrower shall enter into a lease with lease, the consent of Mortgagee, Mortgagor Borrower shall faithfully keep, observe and satisfy all the obligations on the part of the lessor to be kept, performed and satisfied under every lease from time to time in force with reference to the Property, and shall not alter or terminate any such lease, or any guarantee of such lease, except in the ordinary course of business, or accept any rentals for more than one (1) month in advance. Mortgagor The Borrower shall submit to the Bank for its review and prior written approval all draft agreements, related materials and all other information relating to all proposed leases of the Property or any portion thereof, all proposed lease modifications relating to the leases described in Schedule B of the Collateral Assignment, and all proposed renewals of such leases. The Borrower hereby assigns to Mortgagee the Bank all rents and profits under any and all leases of the Property, ; provided, however, that Mortgagor the Borrower shall be entitled to retain such rents and profits until an Event of Default shall have occurred. At any time on notice from Mortgageethe Bank, Mortgagor the Borrower shall submit to Mortgagee the Bank for examination all such leases and on the demand of Mortgageethe Bank, shall execute and deliver a separate instrument collaterally assigning any or all such leases, or the rents and profits thereof, in form satisfactory to Mortgageethe Bank. The Mortgagee Bank shall have the right, by the execution of suitable written instruments from time to time, to subordinate this Mortgage, and the rights of Mortgagee the Bank hereunder, to any lease or leases from time to time in force with reference to the Property, and, on the execution of any such instrument, this Mortgage shall be subordinate to the lease for which such subordination is applicable with the same force and effect as if such lease had been executed and delivered, and a notice thereof recorded to the extent required to give notice to third persons, prior to the execution, delivery and recording of this Mortgage. Nothing contained in this Section 3.9 is intended, nor shall it be deemed, to constitute consent by the Bank to a subordination of the lien of this Mortgage.